How to move your portfolio from WealthTrust to Kuvera?

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Today morning, a friend of mine sent me a screenshot of an email informing that WealthTrust is shutting down on 14th Jan 2019.

A quick visit to their website and I could see similar posts by other users as well (check here).

Email_WealthTrust shutting down

It is indeed an unfortunate news.

To start something and growing it big is commendable.

I am sure it would not have been an easy decision for the founders of WealthTrust to decide to shut down. This was something they had bet their life and careers on for the last few years.

It takes excruciating circumstances to take decisions like this and we should applaud them for taking the risk of starting something.

However, these are the journeys that help individuals learn, evolve and grow faster.

To know when to pull the plug is an equally important part of the startup journey and we must find out more from the WealthTrust founders in another post about their decision-making process.

What Next after WealthTrust?

if you are a WealthTrust user you must be wondering: what next for you?

In reality, though, it is only a small hiccup in your investing journey, as a few portals have made it very easy to port your Mutual Fund portfolio to their site and start investing immediately, as if nothing happened.

In my earlier review, I had mentioned Kuvera as one such platform to invest in direct mutual fund platforms free of cost.

And if you are switching from a pre existing platform, Kuvera makes the entire process like a breeze. In my opinion, Kuvera is quite intuitive and offers a no brainer portfolio import tool.

I have switched my portfolio from ICICI Direct to Kuvera in less than 20 minutes, and I am sure you can also do the same with your existing portfolio on WealthTrust.

How to import portfolio from WealthTrust to Kuvera?

For your quick & easy reference, I am mentioning below the few simple steps (all online) to import your portfolio into Kuvera and continue to invest in direct mutual funds with more ease.

Step 1: Setup an account with Kuvera and complete KYC check and bank account setup

Click to use my code ‘TJAIN‘ during signup and you will get 200 joining coins that you can use to unlock useful features on Kuvera portal such as

a. Smart Switch: Switch from regular plans to direct plans w/o paying STCG or exit load.

b. Family Account: Track all your family accounts under one login.

 

Step 2: Import your existing units to Kuvera so you can track them here

a. After logging in, please follow the steps in the Import Portfolio tab. Do read the “Import Portfolio” FAQs.

Kuvera reads and processes your Consolidated Account Statement in real time and you can start placing orders in the same folios as your current regular and Direct plans immediately.

 

Step 3: Move your SIPs from current platform to Kuvera

a. START your direct plan SIPs on Kuvera in the same folio as your current plans and then STOP your SIPs with other platforms. PS: if your regular plan platform does not agree to stop your SIPs (saying you need minimum months etc etc), read this.

 

Step 4: Switch your Regular plan units to Direct plan units 

There are 3 ways that Kuvera makes it easy to switch from Regular plan units to Direct plan units.  You can read in detail about them here.

Kuvera has a very responsive customer support and you can always reach out to them at [email protected] If you have any questions.

 

Conclusion

Every business has its ups and downs and it must be a tough time for founders at WealthTrust.

For you, the user of their service, there’s no need to get panic or become anxious since the investments happen directly with the AMC and it’s very easy to switch the platform.

Having used Kuvera, I would suggest you to explore it atleast once before you zero down with the direct mutual fund platform of your choice.

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Tushar Jain

Tushar Jain

Tushar Jain is a personal finance enthusiast who loves to talk about money, savings, investments and spending. He blogs about financial wisdom and income growth habits at this blog jaintushar.com. Contact him to say Hi.

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