Change of distributor ARN code of IMMPL ( old distributor) to Zerodha ARN no

Hello workforce

I wish to change my monetary advisory agency to Zerodha. Following steps I took.

My outdated mutual funds had been beneath bodily kind i transformed them into demat kind on Zerodha.
I wish to cease the providers of IMMPL my earlier distributor as they cost 1% on general portfolio and transfer to Zerodha. Therefore i transformed these bodily Mutual funds to demat kind.
I can see these mutual funds on COINS platform however ARN quantity remains to be coming of outdated distributor.
I approached AMCs and CAMS for the change of ARN.they talked about that if its in bodily kind they will change the ARN quantity however in demat kind solely DP ie Zerodha can solely change it. Now i requested Zerodha they’re saying they cant change the ARN of these mutual funds.

Can somebody assist me perceive how can i modify ARN of outdated distributor to Zerodha ARN the place mutual funds are in DEMAT kind on Zerodha however ARN is exhibiting of Previous distributor. outdated advisory agency is ripping me off proper now.

@ShubhS9 @tallerballer : Guys are you able to assist on this i suppose you resolved this related for another person as nicely.

Hello @saurabh24 , in Zerodha, the mutual fund holdings are in demat mode and will be tracked on Coin, Console, and in your CDSL demat account. The ARN quantity can solely be used to trace or switch mutual funds which can be in non-demat mode. Since your mutual fund investments are already in demat mode, you may instantly observe them on Coin and Console.

I wish to cease the providers of IMMPL my earlier distributor as they cost 1% on general portfolio and transfer to Zerodha.

Since you’ve got already dematerialized your mutual fund in your Zerodha demat account, you may proceed to put money into mutual funds from Coin. Coin gives investments in direct mutual funds, we enable buyers to take a position instantly in mutual funds with none intermediaries, eliminating fee charges. Kindly inform your earlier distributor to shut your account with them.

I approached AMCs and CAMS for the change of ARN.they talked about that if its in bodily kind they will change the ARN quantity however in demat kind solely DP ie Zerodha can solely change it.

Since, your investments are in demat mode, updating ARN quantity for mutual funds just isn’t necessary. In case you have additional queries, please create a ticket and DM me the ticket quantity so we will look into it.

Hello @Deepak_Kumar_Singh ,

I respect your reply.

Concern is my outdated advisory agency has raised a brand new bill for complete yr the place they’re saying even when you’ve got moved your mutual funds portfolio to DMAT mode nonetheless funding beneath their ARN quantity therefore i’ve to maintain paying them until their identify is coming beneath ARN for outdated mutual funds. Based on them no switch of mutual funds have occurred until ARN quantity modifications. They’ve raised a brand new bill of 45,000 for subsequent cycle of Oct to March whereas all my MFs portfolio moved to COINs platform on seventh Sept.

Are you able to information me what shall I do right here ?

Hello @saurabh24, might you please create a ticket and DM me the ticket quantity so we will look into it?

Hello @Deepak_Kumar_Singh

Please discover ticket #20240928183698

Ticket is reside for someday now