Requirements checklist
What to ask for when choosing software for mutual fund distributors.
A checklist built from how mutual fund distributors work, to print or save as a PDF and bring to any supplier meeting.
What the software should cover
Tick each one that matters to your business.
- SIP failure and cessation alerts
- KYC, mandate and nominee board
- Lead and follow-up tracker
- Family view of folios
- Brokerage reconciliation
- Year-end statement pack
Roles that need their own access
Who logs in, and what each person may see or change.
- For the distributor
- For relationship managers
- For the back-office operator
- For accounts staff
- For investors
Reports to ask for
Ask to see each one with your own sample data.
- Failed and lapsed plans by client, fund house and week
- Mandates and KYC items outstanding, oldest first
- Enquiries by source, goal and stage
- Follow-up tasks open and closed by staff member
- Trail expected against received, by fund house and folio
- Staff and sub-broker shares of trail for the month
- Clients with no review recorded in the last year
Systems it may need to connect to
Note which ones you already run.
- Registrar and platform reports
- SMS
- Accounting export
- Document storage
Questions for any vendor
Put these to every supplier you are comparing.
- Does it replace our back-office package?
- Can it place purchase or redemption orders?
- How does it find a failed debit?
- Can a family be seen as one household?
- Is trail checked against what each fund house paid?
- Who can see clients’ tax numbers and bank details?
- Does it give investment advice to clients?
- Can we try it before we decide?
- Can we bring our client list across?
- What moves the price for a distribution firm?
- How soon can the SIP calendar be followed in it?
- What should a distributor gather?
Where the work usually breaks today
Circle the ones you recognise. They set the order of the project.
- Failed SIP debits are spotted too late
- KYC on hold blocks the next purchase
- Leads die in the phone
- Trail never matches the AUM report
Prefer to talk it through? See the mutual fund distributors page.