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Thursday 25 March 2010

NJ Wealth Account

The information regarding NJ Wealth Account which was emailed last year is now briefed on this weblink.


About NJ Wealth Account


Presenting NJ Wealth Account
Managing wealth is not easy, especially with the ever growing needs and products. In this fast paced world, there is a need for simplicity and consolidation. The need is to stay ahead, stay informed and stay in control.

NJ Wealth Account offers you a comprehensive, flexible account which consolidates all your portfolio information in a single window in a simple lucid manner. It keeps you informed of your finances and puts you in control to take smart investment decisions.


Key Features of Wealth Account
  • Online Access
    Now you can store all your portfolio, transaction information in multiple products through NJ Wealth Account and get access anytime, anywhere....
  • Meaningful Portfolio Reports
    It enables you to acceed insightful reports that you 'need' to know about your portfolio and take informed invesment decisions.
  • Flexible Consolidation Facility
    It is a great feature which literally takes consolidation to the next level and allows you to
    • Consolidate multiple accounts and view your entire family portfolio on a single desk with the help of consolidated reports
    • Have a single view of all your transactions through multiple advisors.
  • Automatic Updation
    Your portfolio is automatically updated* on a daily basis so that you get the latest, true picture of your portfolio.
    *Online updation facility is only the for portfolio done through NJ and/or where product prices are available in the market at such frequency
  • Knowledge, Information and Analysis Desk Available
    It enables you to acceed various meaningful knowledge related contents that help you stay informed and take wiser investment decisions in your interest.
Inside NJ Wealth Account
  • Wide Coverage of Investment / Financial Products.

  • The NJ Wealth Account is a truly comprehensive account that gives you a consolidated view of almost all your investment/financial products like:
    • Domestic Mutual Funds
    • Equity Shares
    • Fixed Income Products
      • PPF
      • NSS, NSC
      • RBI Relief Bonds
    • Life Insurance
    • Property
    • Bullion
  • With prices / features managed by Customers

    • Bank Deposits
    • Physical Assets (Real Estate, Bullion and others)
    • Private Equity
    • Private Debt
    • Bonds and Debentures on Secondary Market

  • KIAD (Knowledge, Information and Analysis Desk)
    It enables you to acceed powerful knowledge and information related services that go a long way in keeping you informed and smart...

    • Market Information
    • Product Related Desks (like Mutual Fund Desk, Life Insurance Desk, etc.)
    • News and views
    • Benchmark information
    • E-subscription to various publications
    • Financial Planning Section
      • Education on Financial Planning
      • Risk Profilers
      • Basic Calculation

  • Administration
    NJ Wealth Account offers you administration services to help you administer and manage your Wealth Account. The requests modules are available online to you...

    • Merging facility of one or more wealth accounts
    • Flexibility to use multiple advisors (NJ Partners) and have a single view
    • Transaction entering facility for products other than those offered by NJ
    • Flexibility to offer transaction administration to Partners
    • Query posting modules available online.

  • Services
    Enjoy the extra value added services on offer to you…

    • Billing information available online and sent over e-mail
    • Centralised Customer Care
    • Proposed services
      • Transaction confirmation for MF transactions through NJ over e-mail / SMS (proposed)
      • Valuation Reports sent over e-mail at regular intervals


Comprehensive Portfolio Reports
It enables you to get smart insights about your portfolio with access to many meaningful reports. You can also customise the reports as per your needs...
  • Consolidated Portfolio Reports 

    • Net Wealth / Asset Report
    • Financial Year wise P&L
    • Consolidated Asset Allocation
    • Financial Year Wise Performance Reports
  • Product Wise Reports
    • For all Products in general
    • Transaction Reports
    • Valuation Reports
    • Maturity Reports
    • Performance Report
  • Portfolio Analytics

    • Comparison of Performance vis-a-vis benchmark
    • Mutual fund analytics
      • Consolidated AMC Exposure
      • Consolidated Stock Holding
      • Consolidated Sector Exposure
      • Consolidated Credit Profile
    • Current and Historic Financial Plans*
    • Performance of Financial Plans with actual goals*
  • Life Insurance Reports

    • Premium Reminders
    • Cash Flow Reports
    • Risk Coverage Reports
  • Triggers and Alerts (coming soon)
    • Maturity Reminders
    • Premium Reminders
    • Target Achievement for a particular investment
    • Target Achievement of a benchmark
    • ========================================================================

    • FAQs NJ Wealth Account


      How can I open a NJ Wealth Account?
      You need to be a customer of NJ Partner. Along with the Partner you can open the account just by filling the NJ Wealth Account Application Form, ECS / Direct Debit Bank Mandate and T&C.
      If you don't know any NJ Partner you can contact NJ at 0261 3985000 and the NJ Customer Service officer will guide you further.

      When will my NJ Wealth Account get activated? 
      The NJ Wealth Account shall be activated within one week on successful completion of Registration Formalities i.e. filing and submitting of NJ Wealth Account along with the required documents at NJ.

      How will I come to know about my Account Activation?
      You will receive an e-mail on your registered e-mail id as mentioned in the NJ Wealth Account Application form. Also you will receive a Welcome Kit after completion of registration on your address as mentioned in the NJ Wealth Account Enrolment Form alongwith log-in id and password.

      From where can I access my NJ Wealth Account?
      You can get access to your NJ Wealth Account from http://www.njfundz.com by entering the log-in id and password provided to you.

      Can I view my transactions done through NJ in the past?
      Yes, you can, but only those transactions which are done through the partner with whom the NJ Wealth Account is opened.

      If I am working through multiple Partners then what about my transactions through other Partner? 

      You can register a Wealth Account with every partner you are working with. After opening the Wealth Account with a partner, you will be able to access all the transactions done through such a Partner. You may even send request to merge such multiple Wealth Accounts through different Partners to view a consolidated portfolio.

      Do I need to open separate accounts for my family members? 
      Yes, you have to open separate NJ Wealth Account for each family member and the Wealth Account shall capture the transactions wherein the family member is the first holder. However, to have a single view there is flexibility to merge the Wealth Accounts wherein the Consolidated Portfolio can be viewed. In such a case, the separate logins will also be live where the individual portfolios can be viewed.

      Can I add my mutual fund transactions done through other distributors?
      No, you cannot though you can add transactions for products other than mutual funds through the Administration Module available on NJ Wealth Account.

      Do I have the flexibility to unmerge the merged accounts?
      Yes, you can demerge the merged Wealth Accounts by giving request to NJ in required formats online, as available on NJ Wealth Account.

      What is the Fee for NJ Wealth Account?
      There are three types of fees levied on every NJ Wealth Account
      1. Registartion Fees - NIL upto 31st Decemeber 2009
      2. Administartion Fees – Rs 50 /- every six months
      3. Transaction Fees currently only on mutual funds 1.5% on Equity and Balance scheme transactions. For customers above Rs.5 Lacs of AUM, the Transaction Fee is NIL.
      You may invest much less but if wealth has grown to Rs. 5 lakhs, fees are NIL.
      For more details on the Fees schedule, please contact your NJ Partner. The same can also be availed from the http://www.njfundz.com and from your NJ Wealth Account.

      How will be the Fees be collected?
      The Fees shall be debited from your bank account, if any due, by giving an instruction to your bank on a monthly basis by virtue of the ECS/Direct-Debit Mandate you have provided along with NJ Wealth Account Application Form.

      How will I get my billing information?
      You, will receive the billing information by e-mail on a monthly basis and the same shall be available on the NJ Wealth Account. You will also receive an SMS before the amount gets debited from your bank account.

      Can I close my account?
      Yes, you can by giving the request in the format as available on NJ Wealth Account to NJ.

      Can the Fees change for NJ Wealth Account?
      Yes, the Fees are dynamic and may change from time to time . The charges schedule shall be mailed to you on any change and the same shall be made available on the NJ Wealth Account also.

      What happens if my auto-debit request gets rejected ?
      Our Billing department will contact you and give another instruction for auto-debit request. On two consecutive rejections NJ reserves the right to terminate the NJ Wealth Account services.

      Where should I contact in case of any query?
      For any query related to the NJ Wealth Account, you may contact NJ Customer Care on 0261 3985000
    • ============================================================

NJ Wealth Fee Structure


Wealth Account Fees Schedule / Fees Schedule:
Fees
Registration Charges (One Time)
FREE
Admin Fees
FREE For AUM >= 5 lacs on 25th of the Previous Month;
otherwise :- Rs.50/- Half yearly
Transaction Fees (All Scheme Types – AUM)
FREE For AUM >= 5 lacs on 25th of the Previous Month;
otherwise as follows :-
PurchaseSIP/STPSwitch
Transaction Fees (Equity+Bal)1.50%1.50%1.50%*
Minimum Per Transaction (Equity+Bal)Rs. 40/-Rs. 30/-Rs. 40/-*
Others---
Maximum Per TransactionRs. 1000/-
Ceiling (per A/c per month)Rs. 5000/-
Note:
  • AUM is a mutual fund AUM under all scheme types
  • Transaction Fees are currently levied on the mutual fund transactions done by the WA Customer through the Partner. Other Products can be introduced in future.
  • Service Tax would be additionally charged (current rate 10.30%) to the Customer on the above Fees.
  • * Levied only for Non-Equity / Non-Balance Schemes to Equity / Balance Schemes
  • SIP with load will not be charged and for No Load SIP's, future installments would be charged.
  • Incase change of broker and switch from other ARN to NJ, it would not be charged

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