MF banking and financail platforms

Q & A ForumCategory: InvestmentsMF banking and financail platforms
illi asked 8 years ago
Dear Srikant, i would be grateful if you Please go through my lengthy mail explaining my anguish and predicament and advise me accordingly. Hi. I have invested in some(8 of them ) by SIP route , started 3 months ago, through INVEZTA platform  attached to  parent company Valuefy financial solutions based in Mumbai. I registered on INVEZTA platform.by their claims of DIRCT MF schemes without commissions. i have given the Auto debit mandate/clearance from my bank mandate also to them. However, i find their modus of operations strange. Their web site , their services do not  have any  contact phone number, their mail id is not working now a days  and i am not able to log into my account on Invezta platform. On the whole there is no way i am able to contact INVEZTA people  except for raising a complaint ticket. i have raised one regrading my inability to login to my account on this platform. They said they had some technical problem yesterday and asked me to try again some time later. the reply mail was given by some individual(this persons designated position , whether customer care/ wealth manager/ support services)was also not mentioned) there and i don’t even know if this person is an authentic person of this company. when i tried logging in , later at end of the day again the login issue was persisting.  i am not able to log into my account. Now i am not sure if i have done the right thing by trusting this platform with my hard earned money.  Now i want to exist out of thier platform . I request you to suggest regarding:
  1. how to exit from this platform. if i exit what will happen to my MF SIP investments done so far?. can i transfer them to some other platform like Fundsindia?
or should i order my bank to cancel the mandate given to InVEZTA/ valuefy solutions and stop further payments and take the loss in already done SIPS( 3 months in  8 SIPS almost amounting to 13000 per month)
  1. . what are the implications?
  2.   where can i complain, if i have to complain to some authority against Invezta?
  3. 4. How to find out if this Platform/ company is still existing or functioning as i am not able to get any way to contact them .
Please advise, Regards and expecting a n early reply Illindala .
1 Answers
Sreekanth Staff answered 8 years ago
Dear Illindala, If you do not want to continue the future SIPs, you may just PAUSE them by login to the platform. You can invest in same mutual funds with same Folio numbers through respective Fundhouse websites or industry sponsored platform ie MF Utility. Platforms like fundsindia do not offer Direct plans of MF Schemes. Kindly read : https://www.relakhs.com/mfutility-invest-direct-plans-mutual-fund-schemes-online/   Kindly note that invezta is just a platform and your money is safe with respective AMCs. There is no need to redeem your funds. Just pause the future SIPs and opt for other investment platform. You may submit your complaint/grievance to SEBI, through their SCORES online facility..click here to visit..
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