The results of the question on “back-office software” under the “Mood of the IFA” survey is as under


87 replies on “Backoffice”

don’t use optimum software data not proper update
speed issue
carg return show wrong
data not update proper
theme are not good
crm desk is not working
not able to find client in client manage
valuation show wrong and different in my software, client webpage and mobile application ( every ware valuation show different )
they are not update data on regular basis
when I purchase software they told me update my all data ( NDs ) also now they told they are not update it or not able to update it )
amitbhai never give you ans, and not received your call
in summery report client investments total value not showing

lot of problem I am facing with optimum..

Was using Fundzmagic since 2007. Recently shifted to their online version Wealth magic. Not 100% satisfied but comparing its cost with other peers, hv found it better. Hv paid around 14K in first year which includes a one time charge of 5k.

Invest well is a good software, but needs updating every Sat. Some online STP/ SIP don’t reflect in its summary, but show in individual MF Folio.
Cost no idea, I am not in Co. Management.
Quite helpful with its analysis etc.

I am using Finsys software for the last 2 years, Annual charges is Rs. 9500, CRM is good, Data updated properly. Till now I have not faced any problem. But reports are not design properly, home page and other pages are not design properly.

I am using Fundzmagic for last 8yrs it is time consuming you have to do the data uploading manually . Reports are good & easy to understand but fund classification you can’t trust.
Now it is not available also support is very poor

Dear All

Dont Give much money any software they are taking only money but pls research ,and take softwear company taking too much money because of lack of knowledge and about price. dont spend more than 10000 rs in software

i m looking for back office software which is cost & work efficiaent & also suggest gd back office software

Wanted to use good software for back office,
Can you suggest best one and afford even small upcoming distributors also

USING OPTIMUM, BUT NOT AT ALL HAPPY WITH SERVICE SUPPORT….. seriously looking to change . for trade using both BSE STAR MF as well NSEMF platform. some other platform available but you have to do business under their ARN, also fundbazar etc not giving better payout, currently getting much better payout than such national distributors, need help/suggestion for new software purchase….

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Don’t Use Optimum Software bcoz of many issued for Data update, most of not.proper data update and also mobile app not proper working.

Also know Amitbhai (Owner) all of issed but they not working on issued,

Also website is very slow working.

I use OFA but have a bad experience. They promised Web login when I paid. Later they withdrew Web login facility without even asking or informing.

My clients still want Web login facility for which I am looking for another software.

I am using Red Vision software since last 2 months. Overall it is good but more feature required in MIS section. I have bought it in Rs.32000. My opinion is one can buy it. It’s improve data management. By using this able to find quickly Scheme wise client wise sip, aum, valuation reports & much more.

Using REDVISION software, it’s inhanced my business many fold, I strongly recommend REDVISION, it’s costly but there is always difference in iPhone 7 and Micromax mobile. So don’t look only cost if u want to be market leader.

I am using Redvision software from last three years. I feel good software for mutual fund industry. No major issue,all well

Using OFA, but a lot of data mismatch, can any body guide me of the software the is not having this kind of problem.

I have been using Wealth Magic for last one year, I am really impressed with its seamless integration with the BSE star MF platform, which has made the process of onboarding as well as transacting a really wondeful experience and the best part is that they have a really awesome support team, which is quite responsive.

I am using Ifaplanet and fully satisfied with the product. They are really innovative and doing good developments day by day.

Reading all the comments above but still can’t conclude which software is the best and cost efficient..

I use IFA planet, for my mutual fund distribution, very useful and I used to get wonderful service from their service department…
I am very happy and refer my colleagues into this software, they are also satisfied with this software…

Using Wealth magic and satisfied. For,Those IFA ,working as LICI Agent ,its best

Dear sir I am using fund magic since 2008 at that time we also have no idea & choice that all right but some error are accure that is also not solve by them now I come to know about online I will wait for the renewal it is affordable no so costly.

Using RED Vision Technologies Software, happy & fully satisfied. The proactive after sales support is superb!
it have everything for managing my sub broker model and BSE integration is wonderful, my maximum clients are transacting via mobile app now, RED Vision changed my business model from traditional advisor to techy advisor.

Not happy with optimum software…very slow with a lot of errors…NAV updation done very late next day while others do it same day…..wrong CAGR returns and low service levels, people don’t want to respond including the key member team…would not suggest anyone to go for it and I am going to move to some other software immediately.

Don’t Trust On Optimum Software, It’s People Is Also Not Trusted One, I have Purchased This Software, And Felt After Words — inappropriate Data And Reports, Even Entries is missing in Client’s Portfolio, Return Calculation is Also not Appropriate, Than I Have to Chang My Back office Software From Optimum to Red vision, And Now I Am Satisfied with the services Of Red Vision, So Do Proper Home work Before Taking This Type Of Software, Don’t just go by the Words Of the Marketing People Of particular Software Developer.

Thanks and regards/

I use ifa planet.
It costs 6000 only for a startup like me.
I find itbusedul in consolidating all my Aum and customers consolidated statement at any time they want.

I am not yet awarebof the recurring charges next year.
When i wanted to install one with maximum benefit it was suggested by my fellow ifa. Others when i rwnquiews are too costly u was unable to afford and unclear on charges.

Shouldn’t here be any other software with h cheap cost and effective pls suggest

Phoenix Investment Services

Redvision Software is the best for an individual IFA if all the features are used properly.
Its costly than other softwares but it is worth.Issues come in any software , but how fast it is resolved is the question.I feel Redvision does it,
The only issue is the service has come down little when compared to 2 years back.Redvision management has to take care of this issue or else market share might come down.

Updation is very important Here all software are very useful… I used Finsys from last 5 yr… Fundzmagic from 8yrs…. Now wealthmagic….
What is important for ifa & how it is useful to them… All software back off support is ZERO… THEY ARE SELLING TO MAKE IFA BACK OFF SMART BUT WHAT ABOUT THEM… be alter all & take correct product – in all I m not satisfied with any software provider…

Dear partners,
Don’t make a mistake to buy optimum software. His owner Mr. Amit bhai never attend calls nor he available in office. Even he diverted his number to office desk.

After 8 months still I am not getting my customer data proper.

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I have seen demo for all & currently using OFA & IFA Planet..To start with basic platform I will suggest IFA Planet which is easy to use & instant AMC statement just on one click is amazing add on. Pricing also very low.

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