Things to know about Transfer-in

  1. Transferring your investments from Regular Mutual Funds to Direct Mutual Funds may involve exit loads and taxes depending on the type of Mutual Funds and the duration of the investment. If your investments are already in Direct Mutual Funds then no exit loads or taxes are applicable as there is no redemption and re-investment but a change of RIA (Registered Investment Advisor code).
  2. The transferred in investments will be added in a separate goal named “TransferIn”. You can then write to care@goalwise and request us to move the investments to whichever goal you wish to move them to.
  3. We can’t transfer-in ongoing SIPs. If there are any on-going SIPs running with your external broker, you will need to stop them with your broker and re-start them with Goalwise. This is because SIPs are registered with the broker, and not the Mutual Fund company.
  4. Your transaction and gain/loss data will not be correct for some funds after transfer-in. We just get transaction data as one big lumpsum done on the date of transfer-in (and not your actual cost price and date). Hence, although the current value and current units will be accurate but invested value and gain/loss % will not be correct.
  5. If your investments are in Demat format, you will first need to get them converted in Remat format by contacting your current broker and then initiate the Transfer-in process.
  6. The bank account associated with your transfer-in folios will remain as it was earlier. That means if the bank account associated with your transfer-in folios is different from the one registered in Goalwise, it will not automatically change after the transfer-in process. While you can invest in these folios from your Goalwise registered bank account but any redemptions will go to the previous bank account.
  7. It usually takes upto a month for the process to be complete. Goalwise will coordinate with all the Mutual Funds that you have invested in on your behalf in order to get it done.

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