How do you remove a distributor from a mutual fund?

As an investor you can change your mutual fund distributor simply by filing a form to that effect. You can obtain this form from AMC websites. However in this case the new agent does not get any trail commissions on all your current investments and has very little incentive to service you.

How can a mutual fund be turned off?

Investors switch their investment from one open ended scheme to another within the same fund house for better financial planning. To switch within the same fund house, fill up a switch form specifying the amount/no. of units to be switched from the source scheme and name of the destination scheme.

Why you shouldn’t use mutual funds?

However, mutual funds are considered a bad investment when investors consider certain negative factors to be important, such as high expense ratios charged by the fund, various hidden front-end, and back-end load charges, lack of control over investment decisions, and diluted returns.

How do I change my mutual fund from distributor to direct?

If the investor intends to invest directly, the same must be mentioned. The change request has to be signed by all the holders of the investment folio. Once a request is received from the investor regarding a change of broker, the AMCs take about seven business days to effect the change.

How do I change my mutual fund from agent to direct?

Visit the transaction page, where you can buy, change, or redeem your fund units. Select the ‘switch’ option and then click on the respective fund name. It will have a ‘Direct Plan’ option; click on it and follow the steps displayed. It will take about four working days to reflect the change.

When can you pull out of mutual funds?

Ideally, an investor should exit mutual fund investments on completion of financial goals. In fact, for long-term investments, he/she should start exiting equity-linked MFs when the goal is still 2 to 3 years away and shifting the funds to safer investment options.

Can you change mutual funds?

Mutual funds investment can be done in two types of plans – regular and direct. It is definitely possible to switch mutual funds. You can switch funds online or offline. You cannot switch mutual funds on a whim.

Is mutual fund investment safe?

If you’re concerned that mutual funds are a type of dodgy investment, rest assured that they’re completely safe. No mutual fund house can steal your money because it is regulated and supervised by the SEBI (i.e. Securities and Exchange Board of India) and the AMFI (Association of Mutual Funds in India).