Thanks for bringing this question. Even i am looking for a Non Demat based folio app for new account for my family members. I hit this issue recently https://tradingqna.com/t/problem-with-mf-units-in-demat-form/136362
I have shortlisted Groww and Kuvera. Since I am investing only in MF’s and no direct stocks. I have finalized with Kuvera.
I’ll suggest Kuvera.
One of the main reason for me to keep it in folio is to keep my MF holdings Platform agnostic and not introduce single point of failure in MY MF investments.
With MF in folio mode, I am still connected to AMC and continue to have multiple ways to transact in that folio. Tomorrow, if I don’t like the platform I am using for transaction, I can simply move all my holding to some other platform or start investing through AMC/RTA website without any friction.
On the other hand, having MF in demat means you are locked to platform and need to rely on it. Moving your investments is painful and need lot of effort.
There is already an old thread which lists out other issues, but for me not having to depend on a specific platform is major reason.
Most Brokers including Z offer e-DIS via CDSL transfer and if you keep these options then its not painful. Today in the day, if i place transfer units in cdsl (online), they are reflecting the day after in console in the other demat account. Applies to shares as well.
No paperwork / physical form etc. Some Brokers dont charge for trx in Z its 0.03% + tax
I never said it is not possible, it’s just additional friction.
Also, as you rightly pointed out there is additional cost involved in transfer
Whereas in folio mode literally no effort or cost is needed. So I don’t see any specific value in holding in demat mode
Umm there were no rebuttals.
Someone asked me the reason why I prefer folio mode and I provided same.
Every individual has different needs and expectations. One should use whatever works for them.
I think I will go with Kuvera after this healthy discussion. Thank you everyone.
Don’t jump right away, check if it suits you. A product could be good per se, but may not suit your needs. Go for a product if it serves your purpose.
Hi Sunil,
What was the zerodha coin fiasco . I am using it and find it very useful but not aware there was some issue . Please help
well, its june 2024 and coin still has issues… a lot of issues.
How about angel one is anyone tried?
i was checking kuvera… no experience with angel one.
because of regulatory change they had to separate coins and kite funds accounts , hence coins MF SIP for sometime was manually through UPI only, that too some failure. They took their sweet time to implement e-Mandate for SIP. So that was the issue, But now also there is issue with coins ( Delay in reporting SIP mandate) and heard with other platform also there is issue.
I have some SIPs in KUVERA , no issue so far.