In this guide 6 sections
Track every SIP as a line on the client record: scheme, folio, instalment date, amount and mandate. Check debit results each week, chase failed mandates within days, and match folio statements to your own records monthly. Then review each client on a fixed calendar.
Start with one line per SIP
A SIP is only trackable when it has its own row. Record the client, scheme, folio number, instalment date, amount, bank mandate and start date, plus an end date if the client set one.
Most books begin as a spreadsheet exported from the registrar portal, which is fine, but nobody owns the updates and rows go stale within a quarter.
Give every row a single owner. One person decides whether it is live, paused, stopped or failed.
- Client, scheme and folio number on the same row
- Instalment date and amount
- Bank mandate reference and its expiry
- Status: live, paused, stopped or failed
- Next review date for the client
Check debit results every week
Debits settle a day or two after the instalment date, so the useful check is weekly, not monthly, and it should happen on a fixed weekday. Open the settlement file or the bank return list and mark each SIP as paid or returned before the next batch arrives.
A returned debit carries a reason code. Insufficient balance is a client matter. An expired mandate, a signature mismatch or a changed bank account is a paperwork matter that needs a different form.
Log the reason on the row. Three returns in a row mean something.
Chase failed mandates within days
A failed SIP quietly breaks the client’s plan, and a few missed instalments in a row can cancel the registration altogether. The follow-up cannot wait for the next review.
Call the client the same week. Ask whether the balance was short, the account changed or the mandate lapsed, then offer a fresh mandate form and note the date you sent it.
Track the form until the new mandate is confirmed. A sent form is not a live SIP.
- Reason code from the bank return
- Date of first call
- Date the new mandate form went out
- Date the new mandate was confirmed
Match folio statements to your own records
Once a month, pull the folio statements and compare unit balances and instalment counts against your sheet. Mismatches usually come from a stopped SIP you never marked, a switch or STP made directly with the fund house, a dividend reinvestment or a nominee update.
Fix the record, not the statement. Add a note saying what changed and who told you.
Keep the statement PDFs filed under the client by month. Disputes start without warning.
Hold the client review on a fixed rhythm
Decide the rhythm by client size. Large holders may get a quarterly call. Small SIP clients can get a half-yearly one. The date must sit on the record, where someone sees it when it falls due.
Bring one page to each review, listing current SIPs, the failed or paused ones, the folio balance and any open nominee or KYC gap. Spend the first minutes on the client’s goals, never on products.
After the call, update the record. Set the next date.
- Goal and time horizon since the last review
- SIPs added, paused or stopped
- Mandates due to expire
- Nominee and KYC gaps
SIP review sheet
Each client review gets one printed page. The top block holds the client name, folio numbers and review date. The middle table lists every SIP with scheme, instalment date, amount, mandate expiry and last debit result, one row each, so a failed mandate stands out at a glance. The bottom block has columns for failed mandates, open KYC or nominee gaps, actions agreed and the next review date.
Open a blank worksheet to printQuestions owners ask
How often should I check whether SIP debits went through?
Weekly works for most books. Debits settle within a day or two. A weekly pass over the bank return list therefore catches a failure long before the client notices a missing unit allotment on the next statement.
What should I do when a mandate fails?
Find the reason code first. If the balance was short, call the client. If the mandate expired or the account changed, send a fresh mandate form and track it until the registrar confirms it.
Is a spreadsheet enough for tracking SIPs?
For a small book, yes. One person must own it. As the client count grows, rows go stale and reminders get missed, and that is when a client record with due dates earns its place.
What goes into a client review besides performance?
Goals, the SIP status list, mandate expiry dates, nominee details and KYC gaps. Performance matters less than whether the plan still runs.