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Frequently Asked Questions
WealthMagic is Cloud based or desktop based software?
WealthMagic is cloud based and can be accessed from anywhere with internet connection.
Is WealthMagic only used for managing mutual fund data?
No, wealth magic is used for managing multi asset data. Mutual fund data is updated automatically, while data of other asset classes can be entered manually and through excel import feature.
Can Advisors do online transactions from WealthMagic?
Yes, BSE Star MF and NSE NMF II API's are integrated in WealthMagic, so with its help advisors can do online transactions.
Is customer data secure?
Data will be on our server which is hosted on NETMAGIC and here your data will be under 3 Tier Security, with advance Firewall protection.
Will data be updated on daily basis?
Yes, the data is updated daily through mailback services of RTA, subject to data in the file.
Does WealthMagic financial planning comprises of goal tracking as well?
No , we have a comprehensive goal planning where by entering basic details you can do financial planning and create a presentation , which can be mailed to client .
Could the account statement can be downloaded from WealthMagic which comes from AMC ?
Advisors can get the account statement here but not in the same format as AMC , WealthMagic has its own format which is very similar to AMC’s . And the values are also same .
Brokerage report is uploaded by whom?
Brokerage report need to uploaded by the advisors only, it is uploaded once in a month .
Can Brokerage reconciliation be done WealthMagic?
Yes , brokerage reconciliation is possible in WealthMagic.
Does this software help in lead generation also?
Yes WealthMagic has some extensive features which will help in lead generation from existing client base.
Can we get preprinted and editable forms in the software for all AMC?
Yes in WealthMagic we have a whole section of downloads, where advisors can get all type of forms related to this industry and also the preprinted and editable forms are available here for all AMC.
Is Prefilled CKYC forms available?
Yes it is available.
Can investors update other investment from other IFAs in WealthMagic ?
Yes, they can update other investments. In mutual funds, we have an option of manual entry, so here advisors can do entries manually and these entries will reflect in clients portfolio.
Can advisor place order without investor confirmation?
No, it is not possible to place order without investor confirmation. Investor will receive intimation via mail for payment and order confirmation.
What payment options are available for SIP?
All the options permitted by BSE and NSE are available here.
Does WealthMagic includes Sub-Broker Module?
Yes , WealthMagic has sub-broker module as well . Where advisors can add the sub broker working under them and then process the brokerage from WealthMagic only.
Can investors do entry of their other asset classes themselves?
No, advisors need to do that on their client’s behalf. Both the options, manual entry and excel import, are available.
Does WealthMagic provide comparison for motor and health insurance?
In
WealthMagic
you will get the comparison for health but not for motor.
Can emails and text messages be sent from WealthMagic for promotions and reminders ?
Yes, advisors can send both text messages and emails for communication through WealthMagic as it comprises of communication panel.
Can investors check their portfolio anytime?
Yes with WealthMagic your investors will also get a login from where they can get their wealth portfolios snapshot with all the important reports.
Is it possible to hide the redeem option for investors?
Yes this is possible in investor login.
How many ARNs do WealthMagic Support?
Wealth Magic Supports Multiple ARNs .
Online Transaction can be done via Multiple ARNs?
No, only through the primary ARN online transaction can be done.
Will IFA get intimation if an investor places an order from his login?
No, IFA will not get any intimation if an investor places order from his login.
Does Franklin and Sundaram’s data gets uploaded on daily basis?
Yes, in WealthMagic Franklin and Sundaram data gets uploaded daily.
Is it possible to purchase insurance policy from WealthMagic?
No, purchase can only be done for mutual funds not for any other asset class.
Do ULIP values get updated on daily basis?
Yes, ULIP values get updated on daily basis.
Do WealthMagic include all the companies providing General Insurance?
Yes, in WealthMagic you will find all the companies data for general insurance.
Does Wealth Magic have reports for Transaction Type?
Yes
Can Principal Broker data be updated in WealthMagic?
Yes, principal broker's data can also be updated in WealthMagic.
Can KYC be done through WealthMagic?
No, KYC is not possible through WealthMagic .
Is MFU Transaction Platform available in WealthMagic?
No, but we are coming up with the same.
Is it possible for advisors to schedule reports for their clients?
Yes, in wealth magic reports can be scheduled for clients.
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