MProfit

How Suchita Ambardekar uses MProfit

May 22, 2013 at 1:05 pm Leave a Comment

Name
Suchita Ambardekar

Background
Suchita has been following the markets since 1996 because of her family portfolio. She started writing a blog (located here) about the markets and personal finance. Slowly, people started asking her for specific advice and she would freely give the advice. Then someone mentioned she should start to charge her clients and thus began her advisory business. She now also writes for MarketExpress (link). What sets Suchita apart from others is her expertise in the area of investment monitoring and using technical indicators to decide what to buy and sell. She uses Futures and Options (F&O) only as a hedge for a client that owns the scripts in there account.

Her focus is on high networth individuals (HNI) who need someone to help monitor their investments on an active basis, the minimum ticket size is Ro. 50 lakhs. She has tied up with Ffreedom Financial to provide her clients with financial planning and goal based planning as well. The clients interests come first and hence she does not sell any products, the clients pay for the services offered by Suchita. She recommends what the clients might need such as wills, IT filings, financial plans, demat account, etc…

Benefits of MProfit Advisor
Some of the tools she uses to manage her business are MProfit Advisor, Ffreedom Financial and Advanced System Analysis from Vivek Patil to looks at charts. Before MProfit Advisor she was using Microsoft Excel, but once she started to add more clients it became difficult to manually enter everything into Excel. Some of the features that Suchita really likes about MProfit are the All Assets portfolio summary report, which gives a complete picture of all the investments that a client has. In addition, the capital gains reports are very useful as well. However, the biggest feature that Suchita cannot live without is the F&O summary screen as she can quickly see where the positions are. From the summary screen she can find out the realized and unrealized profit/loss for a client. Overall she is quite happy, but is hoping that MProfit makes the reports even nicer and easier so she can review them with her clients.

Suchita blogs at several sites:

Her website – http://suchita.biz/
Market Express – http://www.marketexpress.in/author/suchita
Town Mumbai – http://www.townmumbai.com/finance

Filed Under: Case Study

How Radix Securities Benefits from MProfit

March 13, 2013 at 5:34 pm Leave a Comment

Name
Sumeet Savla, Proprietor at Radix Securities

Company Background
Radix Securities located in Bombay was started in April 2010 by Sumeet Savla, he previously worked at PayPal as a software engineer. Radix Securities is a wealth advisory firm that advises on stocks, mutual funds and insurance for NRI’s. His technology background has allowed him to develop his own stock screening algorithm which he uses to generate his buy and sell signals. Even in these uncertain times, some stocks are hitting 52 week highs and that is where Radix Securities uses their algorithm to decide when to buy and sell. They maintain a medium (2 years) to long (10 years) term outlook on the stocks that they buy.

Benefits of MProfit Advisor
Some of the tools he uses daily include Excel, charting software and MProfit Advisor. Before using MProfit Advisor all of the client data was in Excel and it was very difficult to maintain. They started to use MProfit Advisor about a year back and have not looked back. Two features that Sumeet loves is the overall portfolio summary screen and the historical pricing report. With the portfolio summary screen he can view a clients holdings of all the various asset classes in a single view. With the historical pricing report he can now see what a clients portfolio was worth a month ago, 3 months or even a couple years ago. Some of his clients still like to receive monthly reports and the reports from MProfit are very easy to read and understand.

One thing they want to see in MProfit is the ability to generate a balance sheet. Luckily, the team at MProfit is working on adding this feature to MProfit in the coming months.

Filed Under: Case Study

How To Grow Your Advisory Practice

February 28, 2013 at 2:16 pm Leave a Comment

DSP BlackRock recently released an eBook for their mutual fund advisors. The eBook was written by the team of Manish Chauhan and Nandish Desi of JagoAdvisor and JagoInvestor fame. It’s a great guide for independent financial advisors (IFA’s) to reference and see how they can grow their practice.

The eBook is broken into 10 sections and really gives you some great tips and pointers about the IFA business. There is no doubt that only Manish and Nandish could have written such a fantastic eBook and that too for FREE!

If you ever get a chance to meet Manish and Nandish then you will know why they wrote the eBook…they truly love this field and are passionate about people getting the right information.

Their JagoInvestor website is one of the most visited websites for personal finance matters. Just take a look at any one of their articles and you will most likely see 100′s of comments.

In their eBook they mentioned MProfit Advisor and their comment was:

“…value for money where for a small price, you can manage huge number of clients…”

To get a copy of their eBook click on this link. To try MProfit Advisor click on this link.

Filed Under: News

MProfit Investor is now FREE

February 1, 2013 at 4:53 pm 1 Comment

As of today, MProfit Investor is now FREE, the only limit is that MProfit Investor can manage an invested amount of up to Rs. 50 lakhs. Other than that you can use all the features of MProfit Investor for as long as you like and never have to pay for it.

Need to manage your families investments? FREE

Want to import your mutual fund transactions? FREE

Plan to import contract notes from over 200+ brokers? FREE

Need a capital gains report? FREE

I think you get the idea, basically everything in MProfit Investor is now FREE. The next logical question might be – How are we going to make money? As you might have noticed we have several other versions of MProfit that are paid and hence that is where we make our money. Enough about our finances, why don’t you download the FREE version of MProfit Investor and get YOUR finances in order!

Download a FREE version of MProfit Investor

Filed Under: News

MProfit v9.1.5 now supports PDF contract notes

November 2, 2012 at 11:11 am 1 Comment

MProfit now allows you to import your PDF contract notes directly into MProfit even if they have a password. Some of the brokers we support starting today include: HDFC, ICICI Direct, Indiabulls, India Infoline, JM Financial, Motilal Oswal, Reliance Securities and SBI Caps.

We also support the Consolidated Account Statement (CAS) for mutual funds from CAMS, Karvy and Franklin Templeton. You can request a PDF file by going to the link below, then importing the PDF file into MProfit.

http://www.camsonline.com/

Directly import .zip and .cams files from CAMS & Karvy
No longer do you have to manually extract the file or rename it – we automate all that work for you. If the .DBF file format you receive from CAMS and Karvy are in a .zip or .cams format, you can select that file directly in MProfit to import it. (We currently don’t support the .kmfs extension you will still have to rename and extract those files and then import it into MProfit.)

Other Features
- Support for merger, demerger and splits in mutual funds (purchase prices and capital gains calculations are updated based on these actions)
- Cost inflation index updated for FY 2012-13 to calculate capital gains report with indexation
- Ability to add a single premium policy- Several bugs fixed

To Get the Update
Go to the Help menu option in MProfit and select “Check For Updates” then follow the instructions to get v9.1.5.

Filed Under: News

New v9.1 launched and new Pro version

July 6, 2012 at 11:52 am Leave a Comment

With version 9.1 two major features were added to MProfit Pro and Advisor: 1. Managing your Futures and Options (F&O) trading 2: MProfit Sync – a secure way of having clients view their financial transactions from their computer.

Managing Futures and Options (F&O)

The ability to manage a users F&O transactions has been requested quite frequently and the ease of use of importing and entering those transactions is unmatched. This new feature is available in MProfit Pro and MProfit Advisor. Prices are delayed by 15 minutes which is the same as the cash equity data feeds.

MProfit Sync – one click sharing

The number one request from Advisors has been the ability to share data with clients. MProfit Sync allows advisors to share data in a secure manner with clients. Once an advisor has imported the data into MProfit Advisor they simply click one button and the data is uploaded to the cloud and an email is automatically sent to the client. The client then installs MProfit Investor and enters the information from the email and will see his financial information. For advisors, there is no easier way to provide access to their clients financial information

MProfit Messenger

Anyone using MProfit Pro and Advisor can send messages to all their clients with the built-in MProfit message system. This will allow people to send daily updates or other types of information to their clients in an easy and convenient way.

Filed Under: Software Updates

The Startup Guide for IFAs

April 7, 2012 at 11:54 am Leave a Comment

At MProfit we meet and talk with a wide variety of advisors and many have the same issues and ask the same questions. We could have created an FAQ page but decided it might be better to create a PDF document of the issues that advisors face when dealing with technology.

The Startup Guide for Independent Financial Advisors (IFAs) provides guidance on the tools and technology needed to start your own financial advisory firm or grow your existing business. More importantly, the products and services covered are free or very low cost as price is a major concern for any advisory company. The guide is broken into 5 parts:

1. Basic Setup – The minimum setup needed to start your advisory firm

2. Getting New Clients – Implementing a social media strategy to attract new clients and using customer relationship management (CRM) tools to track potential client leads

3. Financial Planning – Tools to create financial plans for your clients

4. Trade Execution – How to execute the recommendations on your clients behalf

5. Portfolio Monitoring – Methods to review and monitor the portfolios of your clients

Click to download The Startup Guide for Independent Financial Advisors (IFAs)

Filed Under: News

Lalkar Securities

March 2, 2012 at 10:54 am Leave a Comment

For 2012 we are starting a new feature on our blog by speaking with some of our clients who use MProfit. The interviews will be a combination of what they do and how MProfit benefits them.

Name
Hansal Thacker, Director at Lalkar Securities

Website
http://www.lalkarsecurities.com/

Company Information
Lalkar Securities was started in the early 1980′s and has a pan India presence with a concentration in Maharashtra. They have offices in Pune, Delhi, Jodhpur, and Bangalore which are company owned and the rest are franchises.

Focus of the company
The main focus remains to be the wealth advisory business which requires a broking arm and a distribution platform to facilitate the business. Although many brokers talk about wealth advisory, very few can effectively deliver the performance that is required.

How is the industry changing?
The industry is shifting from “sales” to “skill”. Investors remain in the false assumption that a buy and hold strategy would continue to grow their wealth. Unfortunately, with the wide spectrum of assets available the industry will be in need of investment specialists who can demystify, analyze and recommend products to their clients. Gone are the days when only HNI’s, trusts and corporate clients had advisors. In today’s volatile markets, everyone is in need of a Wealth Advisor.

Top 3 benefits of MProfit Advisor

Consolidation of asset classes – MProfit is one of the few products that can aggregate such as wide spectrum of investments products – stocks, mutual funds, insurance, PPF, EPF, ULIPs, FDs, ETFs, gold, silver, property, etc…
User friendly reports – clients can easily understand what the numbers mean
Comprehensive portfolio performance tracking – from the main summary screen you can easily see how the portfolios are performing

Filed Under: Broker, Case Study

The Jago Investor Book

February 3, 2012 at 12:06 pm Leave a Comment

It’s not often we review books on the MProfit blog but a great one for personal finance was just released by Manish Chauhan. You might not know his name but he is the force behind JagoInvestor.com one of the most frequently visited sites for Indian personal finance information. We are very big fans of the site!

What is amazing about Manish is just several years ago he was busy writing software code for Yahoo in Bangalore. Then he started JagoInvestor.com and wrote many great articles about personal finance and turned it into a community. His ability to answer every question on the blog and reply to each and every comment is truly commendable.

I received the book a couple days ago and expected to skim a few chapters and tell Manish how awesome it was. However a strange thing happened, I ended up reading the entire book in a matter of 48 hours. I would not recommend you read the book in 48 hours instead take 2 months. Why 2 months? Because there are 7 chapters and I would advise you read one chapter every Sunday afternoon for the next 7 weeks.

At the end of most chapters he has a quick review section he calls “Flashback Learning” and more importantly he outlines a 2 hour action plan. The 2 hour action plan is what the book is all about. Quit reading, talking and discussing, instead take some action in regards to your personal finances.

Some of the best bits of information from the book:

page 90 – “You can never get excellent returns with safety in the SHORT TERM; that can only happen in the long term”
page 128 – he shows a flowchart that I think everyone should make because it visually shows where YOUR money is going
page 136 – A simple checklist of what your sample portfolio should look like, it’s all about simplicity

Overall the book is great for beginners and I would highly recommend you buy a copy of Jago Investor from Flipkart.

Filed Under: Personal Finance

Advisor and Investor 9.0 released

January 2, 2012 at 12:23 pm Leave a Comment

Happy New Years! If you have noticed we have been quite silent on this blog over the past 5-6 months, mainly because the entire team was working towards a very busy 2012.

At MProfit we started 2012 with a bang, with the launch of latest version of MProfit Investor (v9.0). But in even bigger news is we launched our second product MProfit Advisor. MProfit Advisor was designed for companies, family offices, HNIs, CFPs, independent financial advisors (IFAs), insurance advisors, investment advisors and sub-brokers.

What’s new in MProfit Investor v9.0?
We have rebuilt MProfit Investor (download) to take advantage of the many new features we have planned for 2012 such as the ability to sync your data with advisors. In addition, you will be able to view your data on tablets and mobile phones (Android, iOS, Windows).

Some of the features you will notice right away:

Bigger font size of the summary screen
Many more import options have been added
Capital gains report with or without indexation for debt mutual funds and FMPs

MProfit Advisor commercially available

Since the launch of our first product MProfit Investor we were receiving many requests from financial advisors, HNIs and family offices. In 2011, we decided it was time to start working on a new product based on the feedback and what you see today in MProfit Advisor (download) is a result of it.

MProfit Advisor we designed to be easy to use and cost effective. MProfit Advisor allows you to manage 100′s of portfolios, put your logo on reports, generate overall AUM reports and many other features. In the near future, advisors will be able to share data with their clients in an easy and secure manner. At MProfit, 2012 is the year we plan to make managing money a very simple task.

Click for a summary of the features in MProfit Investor and MProfit Advisor.

Filed Under: News, Software Features, Software Updates