How do I sign up?
You can start the sign up process at https://onboarding.capitalmindwealth.com/signup .We have online forms that generate completed PDFs for you to sign. We compare your forms against your PAN card and your address proof and then arrange to pickup your forms or request you to courier them to us.
What documents do I need to open my account?
We need copies of your PAN, an Address proof and a cancelled cheque. We have online forms where you enter your information and these generate PDFs for you to print and sign. The PDsS that get generated are – an agreement with us, the agreement with ISSL and the CKYC form.
What are the on-boarding steps and how long will they take?
The on-boarding process starts with filling in the online forms. This is followed by PAN, address proof and signature verification (online). You courier (or we pick up) the signed forms from you and then submit to ISSL. Account opening presently (as of Oct 2018) takes 7 (seven) working days after the forms are submitted to ISSL.
I have a trading account with Zerodha and a demat account with ISSL. Do I still need to open new accounts to join Capitalmind Wealth?
Unfortunately, Yes. We create a new demat account with a power of attorney and use our corporate Zerodha account for trading at an aggregate level.
What are the reasons behind choosing Zerodha for trading and ISSL for demat?
Simple economics – Zerodha is the transaction intermediary with the lowest costs (by far). ISSL handles both trade accounting and custodian work – which helps bring down costs as well.
What role does ISSL have?
ISSL offers custodian services to Capitalmind Wealth customers. Every customer gets a new Demat account with ISSL. Your stocks and mutual funds are held in this individual demat account.
I have a Portfolio Management Service (PMS) account with XYZ and the demat account is with ISSL. Does this make it easier to join Capitalmind Wealth?
Unfortunately not. This needs to be a new account with ISSL with a new Power of Attorney.
My money is currently spread out over Fixed Deposits, Equities, Mutual Funds. I want to re-evaluate and consolidate it. Do you help with this or charge a separate fee?
We do a simple version of this as part of our on-boarding process. We do not charge a separate fee.
Can I open a joint account with my husband/wife/son/daughter/father/mother?
Yes! ISSL supports up to 2 people in an account. You could also create a single account and add up to three people as nominees.
What is the Planning Tool? How do I use it and how much does it cost?
The planning tool is free to use. We’ve designed it so that you can see what combination of initial (lump sum) and ongoing (SIP) investments you need for goals like your retirement, kids college or regular travel. The planning tool has sample plans and works with as little as 2 inputs – your age and current monthly spend.
Is there an upper limit on how much I can invest in Capitalmind Wealth?
Can an HUF (Hindu Undivided Family) open a Capitalmind Wealth account?
Yes, an HUF can open a Capitalmind Wealth account. To request the HUF Forms and guidelines, please write to us at firstname.lastname@example.org and we’ll get back to you in 1 business day.
Do you accept NRI Applications?
Our services are open for Resident Indian accounts only at the moment. However, you are allowed to open an account for your Indian resident family member (parent/spouse) and list yourself as a nominee on the account.
I’m a US citizen resident in India. Can I open an account with Capitalmind Wealth?
If you have a PAN Card, valid Proof of Indian Address and an Indian resident bank account – we can take you onboard!
ISSL is part of IL&FS – are they safe as a custodian?ISSL is an independently run, profitable entity making 340 cr. of revenue and about 45 cr. of profit after tax. IL&FS is the owner of this company and wants to sell it to generate cash. Earlier, this company was to be sold to Indusind Bank, but with the government replacing the management at IL&FS, they’ve decided to go for fresh bids to find buyers.There will be no disruption to Capitalmind Wealth operations during this process. The team at ISSL is competent and independently running their custodial operations.Once a new buyer is found, only names may change but operations will continue as earlier.Your shares and mutual funds sit in an NSDL demat account of which ISSL is only a participant.Your uninvested cash always sit in a bank account in our name (Wizemarkets Analytics Private Limited).If you have any questions, please don’t hesitate to reach out. We believe in keeping your stocks, funds and cash safe and take all steps to ensure that happens.