MF in SOA or DEMAT form ? (Pros & Cons)

[metallicsigma]

How difficult is it to shift units to the new broker if the first broker is completely shutdown (No OTP, no authentication etc)?

[metallicsigma]

So it might become a complex process for the nominee with SOA. Whereas in DEMAT whole account can be inherited at once.

[nithin_kumrr]

@metallicsigma

How difficult is it to shift units to the new broker if the first broker is completely shutdown (No OTP, no authentication etc)?

Answered a similar query here.

How to recover securities from a inactive demat account where broker and dp both got bankrupt long time ago

Hi @Sayantan2003 , if a broker has closed operations or defaulted, like in Karvy case, the demat accounts remain safe with the depository. In Karvy’s case, IIFL Securities acquired the demat accounts through a formal bidding process, and clients had to complete re-KYC and submit documents to activate their accounts. Once activated, investors could manage their holdings or transfer them to another broker using DIS or the CDSL Easiest route. Before that, it’s best to contact the depository (CDSL…

[Sandeep_Tingare]

I am doing MF investments through zerodha coin since 5 years. It usually takes more time to settle your SIP investments in demat form than that of SOA. If one do not wish to do tedious paperwork for demat to SOA, start new folios in Kuvera or Mfcentral for all your existing funds and do SIPs there. Then, slowly redeem money from funds from Zerodha coin and invest that in your new respective folios in Kuvera and eventually, close all coin folios. Just do this by carefully considering LTCG tax and exit loads. With this, your all funds will be in SOA and you can manage them in Kuvera or MFCENTRAL. No paperwork needed!