KYC For Investments in Mutual Funds

Hello and welcome, now I am going to show you how to perform KYC registration for a Client.

KYC Verification is a must for a client to invest in Mutual Funds.

Starting,1-April-2024 SEBI has made Aadhar mandatory for KYC.

Existing Clients who earlier completed their KYC without Aadhar, now must update their KYC details with Aadhar, failing to do so will prevent them from making any new Mutual Funds Transactions.

Searching a Client Account

In case the Account Details/ MF Readiness Page is already open, you can skip these steps and straight away jump on to KYC Registration section

1. Once you have logged in to Wylth® IFA Portal,Click on “Contacts”, then “Client Accounts”.
2. You can Search the Account / Account by clicking on “Filter” button and specifying filter criteria i.e. Client Name or PAN etc.
3. Click on Apply to search.
4. System to list down Client accounts matching the search criteria, choose the client account record and click on “MF Readiness”link.

KYC Registration

1. Navigate to Primary Holder (Second and Third Holder for Join Accounts)
2. Then click on “Basic Details”
3. System will show KYC Status as “KYC Verified”when the Client is KYC Verified; and “KYC Not Verified” when the Client is Not KYC Verified.

4. Click on “Initiate KYC” to start KYC Registration process.

   

   
   

5. You will be prompted to enter client’s bank account details, to initiate KYC Registration. Click on “Add Bank Account”

   

6. Add Bank account and click on “Save” button

   Please Note, you need to upload a valid bank account verification document.

   

7. Click on “Initiate KYC” button (after submitting client’s bank account details)

8. System will open a new window for your client to Complete his/her KYC Registration process.

   Please Note, your client must have a valid PAN linked to client’s Aadhar, and Aadhar must have a mobile number linked, where an OTP will be sent for verification.

9. Select the check box and
10. Click on the “Let’s go” button
11. Select the document type from drop down option related to identity proof.
12. Select the document type from drop down option related to identity proof.
    1. Upload the document as per document type selected.