Moving from Regular to Direct

#1
Planning to move from FundsIndia (Regular) to Groww or similar (Direct). For a small salaried investor, FundsIndia does not proactively update or recommend the investor about changes. I have to contact them regularly. They don't even bother reviewing the portfolio on a periodic basis but do that only upon request. Since I have been manually tracking everything and since its been some time now handling with Mutual funds, I do not find the commission going to FundsIndia of any use to me. So planning to switch to Direct. Any suggestions or issues are welcome. Have a few queries as below:

-Can FundsIndia stop the switchover ?
-If I swich before a year of SIP completion there may be exit load + relevent taxes. So should I stop the SIP in FundsIndia and Start new SIPs in Groww or should I just switchover ?
 
#2
Dear Doomslyr,

I will try to give you my opinion about this even if I don't know your Financial background/knowledge and the size of your portfolio.

You mentioned that FundsIndia doesn't give you a proactive portfolio review but answer only on request. It is still not so bad because many distributors don't do it for small investors.

The big question for you is the following: would u able to manage your MF portfolio without anyone's input in terms of which funds to buy, which ones to sell, etc.... ?
In addition, regarding Debt Funds, an external advice can be extremely useful to identify funds having low quality debt in their portfolios (see recent FT issues, DHFL, etc...).

More generally, to have someone able to review your portfolio and advise you (or just challenge it) has value EXCEPT if your knowledge and background are solid enough to do everything on your own.

The decision is YOURS!

Regarding the switch: if your portfolio is in losses (can happen is you started recently due to recent Covid crash) no taxes consequences. At exit load level, it depends on the funds. If there are exit loads you can wait until the time exit loads will no longer apply.
You can stop your SIP at FundsIndia anytime and start again at Groww.

I hope it will help you.

Enjoy investing
 

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