India’s mutual fund market has experienced remarkable growth.
According to the Association of Mutual Funds in India (AMFI), there are currently about 8.76 crore (87.6 million) Systematic Investment Plan (SIP) accounts, enabling investors to regularly invest in various mutual fund schemes. However, managing multiple SIPs comes with its own set of challenges. It requires effort to manage them effectively due to several factors, such as:
- Keeping track of login credentials for each platform
- Monitoring and understanding market trends and conditions
- Regularly assessing performance metrics
- Maintaining an accurate record of transactions, account statements etc.
When you need to consolidate your investments for financial planning purposes, retrieving important details like linked bank account numbers, IFSC codes, nominee details etc from multiple sources can be difficult amidst the daily management of investments.
Mitt Arv’s Asset Vault simplifies this process by enabling you to list all your investment accounts in one place. This keeps you organized and makes it easy to share important financial details with your family in real-time or later.
How to List Your Investments in the Asset Vault?
1. When you download the “Mitt Arv” app from Playstore or Appstore and sign in, click on “List a new Asset”. Then, choose “investment accounts” from the list of assets provided.
Alternatively, you can tap on the “Asset Vault” icon at the bottom and then select “Investment Accounts” to list a new asset.
2. Select from the types of investment account available, i.e., Mutual Funds & Demat Accounts.
3. Add all the essential details like, Asset Holder, Folio Number or Demat Account Number, Linked Bank Account Number, Nominee name etc.
4. Double-check all the information before saving to prevent any errors.
5. Click on “Save Asset” and Voila, your asset is saved!
FAQs
1. Is My Information Secure in the Mitt Arv App?
Our app is fully secure.
Encryption at rest as well as in transit keeps your data safe from unauthorized access. Data at rest is stored on the Azure Cloud using RSA 2048-bit encryption. During transit, it is encrypted using the RSA-2048 bit and Transport layer encryption.
For strong security, we have an OTP-based login or a Single Sign-On.
At Mitt Arv, it’s all about your control. We don’t collect any data without your consent.
If you’d like to know more about trust & security, watch this video (Link).
2. How Does the Collaboration Feature Work?
The Collaboration feature allows you to create a group, invite members, and assign permissions for editing, viewing and managing asset details. This makes it easy to share important financial information with family members or trusted individuals.
3. Can I Edit or Update the Details of an Investment Account After Listing It?
Yes, you can edit or update the details of an investment account at any time through the app. Simply go to the listed asset and make the necessary changes.
4. Can I List Other Types of Assets in the Asset Vault?
Yes, in addition to investment accounts, the Asset Vault allows you to list various types of assets such as property, insurance policies, and more. Check the app for the full list of asset types you can manage.
5. Is Asset Vault Available on Both Mobile and Desktop Platforms?
Yes, Asset Vault is accessible via mobile apps available on both Play Store and App Store, as well as through web browsers on desktop computers. This ensures you can manage your assets conveniently from any device.