An Introduction to Itus Capital Client Onboarding Process

At Itus we take pride in the process we have set up for our clients to have a seamless account opening experience.

We look at our client’s journey as a constant endeavor that we want to simplify as a relationship at Itus, begins with the onboarding process. Clients of Itus, experience their first touchpoint of our firm through onboarding, and we want this journey to be memorable and frictionless. Through the process, we have set up and improved over the last 5 years, we are proud to bring about a NPS score of 95 at our firm.

The onboarding process can establish a genuine relationship with our clients by setting the right expectations and presenting a trustworthy impression of the Itus culture. It offers a way for clients to keep track of their investments and show our clients the unique features, we have to offer.

At Itus Capital, Client on-boarding process can be bifurcated into 3 main parts

• Account Opening
• Fund Reporting
• Client Induction

We study the profile of the client who is interested in investing with us. We are keen on providing a seamless experience for the client from the time of gathering the KYC details of the clients up until providing login credentials to view their portfolio online.

PMS or Portfolio Management Services are investments in a portfolio, managed by a professional portfolio manager. A portfolio at Itus will include only stocks and liquid funds – specifically tailored to manage the client’s equity portfolio by investing in a growth-oriented strategy. This article briefly covers the process of opening a Demat and Custody account. A Demat or dematerialized account is a digital account that holds all the securities that you own and trade.

Itus as a PMS provider for residents, non-residents and non-individuals are registered with SEBI as is mandate. Kotak and Hdfc are our custodians and fund accountants. As per SEBI norms, a PMS account can be opened and held, with a minimum corpus of Rs. 50 lakhs.

The Client on-boarding process starts from collecting the basic details from the client with a profiler. The clients are allowed to choose between 2 custodians – Kotak and Hdfc

There are 3 types of profilers for gathering the client’s financial, work and personal details

• Resident Individual
• Non-Individual
• Non-Resident

For Non-Resident clients who wish to invest with Itus, a separate bank account and demat account will be opened. The Non-PIS savings account is the account that any gains or dividend payouts from the investments will be credited to. Clients are required to sign a power of attorney for the portfolio manager to operate the bank account and the Demat account on behalf of the clients. Clients can monitor the status of their investment portfolio anytime via online access to the portal

To open a PMS account, an individual client is required to submit the following documents:

The original valid documents acceptable for address proofs are  Passport, Voter Card, Driving Licence and  Aadhar Card for resident clients

• PAN card( Identification proof)
• Address proof (Passport/ Bank Statement / Utility Bill / OCI card for Non-Resident clients)
• PAN and Aadhar card copy of Guardian – If Nominee is minor
• Second Holder – PAN and Aadhar card copy
• Visa copy / Resident Card (For Non-resident clients)
• Bank proof – Any one of the following
  1. Pre-printed cancelled cheque in the name of the Account Holderor
  2. Bank letter along with a bank stamp is mandatory.
• FATCA Declaration
• Copy of the Power Of Attorneyprovided to the PMS
• Demat account opening form
• Photographs

The client on-boarding specialists constantly engage with the clients and keep them well-informed about the KYC documents required for ID and Address Proofs, so they can share the KYC that needs to be self-attested for account opening

For clients whose KYC documents are recently registered with CVL KRA, we update the Demat and PMS documents after confirming the details with the client. This has reduced the Turn around Time towards the account opening documentation.

We pre-fill the documents with the KYC and profiler details provided by the client and despatch the PMS agreement and Demat Account Opening document to the client

Once the client receives the PMS and Demat documents, we fix a convenient time to verify the signed documents along with the proofs over a video call via zoom/teams/google meet

Today, we have reduced the time taken to open an account to within 2-3 days for a resident client, whereby the client’s role is to only sign. Our onboarding team has centralized the onboarding process so that the journey for the client is smooth. For a resident client, at Itus, the average time spent by the client for account opening is 6.5 minutes.

In the next part of our Client Onboarding series, we will be talking about the funding and reporting and what a client can expect from Itus.

Itus Capital is a SEBI registered Portfolio Manager. The information provided in the News letter / blog does not constitute any investment advice and is for internal consumption and general information purposes only. The views expressed at or through this content are those of the individual authors of Itus Capital. The contents and information in this document may include inaccuracies or typographical errors and all liability with respect to actions taken or not taken based on the contents of this Newsletter are hereby expressly disclaimed.

No reader, user, or browser of this Newsletter / blog should act or refrain from acting on the basis of information contained in this Newsletter/blog without first seeking independent advice in that regard. Use of, and access to, this website or any of the links or resources contained within the site do not create a portfolio manager-client relationship between the reader, user, or browser and the authors, contributors or Itus Capital.