WealthTrust App FAQ’s

What is Wealthtrust?

WealthTrust is India's first Zero commission wealth management mobile application. It helps you to track and manage your Mutual fund portfolio. You can invest in direct mutual funds of 26 different AMCs in a smart, secure and paperless manner. The app has been developed & managed by Evolusolve Technologies Pvt. Ltd. which is a SEBI registered mutual fund advisor. WealthTrust earlier known as Wealthee was started in December 2015, the mutual fund investment platform was started in May 2016.

Why should I go for Wealthtrust?

At WealthTrust we aspire to make Personal Finance simple for our customers. We only deal in Direct Mutual Funds and do not earn any commission from the AMCs and hence we have our Customers’ best interests as the core of our philosophy. We believe in innovation and working towards new features continuously while providing the best of customer service.

How can I download Wealthtrust?

Wealthtrust app is available on Android & iOS both. You can download the Android app from Google Play Store and IOS app from IOS store.

Is Wealthtrust available on Desktop?

Currently you can use Fund Explorer section of our website to check the fund details, performance and risk measures. We will be coming up with full fledged transactional website very soon.

How safe is my data with Wealthtrust?

WealthTrust employs state of the art 256 bit encryption algorithm to secure your data. Data is exchanged between the app and server using trusted digital encryption certified by GoDaddy. You can read our privacy policy for further details.

What if I lose my mobile or start using a new mobile? Will I be able to use the app?

You need not worry if your mobile is lost or you happen to change your mobile. You can download the app from any other mobile and login using your credentials and all your mutual fund details will get synced in the new mobile. Henceforth, you can do all the transactions as you were able to do with your old mobile.

Can I use the app on two different devices?

Yes, once you have signed up, you can log in as existing user from any device.

Where can I see my Mutual fund portfolio?

You can go to the account details page and in the Mutual fund section see your Mutual fund portfolio. The amount displayed is the value of your mutual fund at current NAV. This section also shows the amount of appreciation or depreciation in the value of that particular fund.

How is the NAV updated?

The NAV values are fetched from AMFI website daily and stored on our server. WealthTrust fetches this data and updates in the app.

What is portfolio tracker?

Portfolio tracker is one stop shop of all of your mutual funds. You can track your portfolio by uploading your portfolio just once on the app in My Portfolio section. Once you have uploaded the portfolio you can check the Returns and performance of your Mutual funds anytime, anywhere through the app.

How to upload my portfolio through WealthTrust?

Click on Auto Generate button under the My Portfolio section and follow the instructions. You will have to enter your email where you receive your CAMS/Karvy statement. Once you have done that, you will receive an email from CAMS/Karvy. Just forward that email to service@wealthtrust.in and your portfolio will be ready 5-10 minutes.

What are the charges for Portfolio Tracker functionality?

The Portfolio Tracker is completely free.

My portfolio does not get updated automatically, what to do?

At present your existing SIPs and any other purchase outside of Wealthtrust does not get updated until you forward the updated CAMS/Karvy statement to us. We are coming up with the Auto Track functionality very soon.

How do I sign up on Wealthtrust?

Download the app and follow the instructions for New User Sign up. You just have to enter your Name, Phone number & Email and then select a password.

What functionalities will I be able to use after signup?

You can Track Your Portfolio, Switch to Direct funds and Check our Top Funds.

How can I track my mutual fund portfolio on WealthTrust?

Click on Get Started button under the My Portfolio and follow the instructions.

Can I buy Mutual Funds through Wealthtrust after I complete signup?

To buy Mutual funds through Wealthtrust you have to create investment account.

I am not KYC compliant, Can I signup on Wealthtrust?

Yes, for signup KYC is not required.

I am an NRI can I use the app?

Yes, you can use the app. However, there are certain additional documents are required for NRIs. Once you complete the signup, just send us an email to service@wealthtrust.in and we will guide you.

How do I create an Investment Account?

After signup, Select Invest now on the Dashboard and follow the instructions.

What documents are required for creating an investment account?

You will need:

  • PAN Card copy
  • Bank A/C proof (Cancelled cheque or Bank Statement)
    • Please Remember the Cancelled Cheque/Bank Statement must contain IFSC,MICR,A/C number, Your Name & Bank Name.
  • Selfie

Where can I invest after creating Investment account with Wealthtrust?

You can invest in the Direct Mutual Funds of 26 different AMCs.

How much time does it take for verification of Investment Account?

It takes 3-4 working days. If your account is not verified even after 4 working days, please contact us through the details given in the contact page.

I am unable to upload PAN or Selfie, what should I do?

Send them through mail to service@wealthtrust.in

I am not KYC compliant, can I open an Investment Account?

Yes you can. We will do your AADHAR based eKYC. However, the limit of investment through eKYC is Rs 50,000 per year per AMC.

I have received a CAN registration email, what is CAN?

CAN stands for 'Common Account Number'. A CAN number is required for transacting through MFU which is a transaction aggregation platform. WealthTrust uses services from MFU to facilitate Mutual fund transactions; hence CAN registration is required for Buy/SIP transactions. The CAN registration form received by you is for your reference. Same will be submitted by WealthTrust on your behalf to MFU to create your account.

I already have CAN number from MFU India. Do I still need to submit all the documents again at WealthTrust? Can I use the same CAN for transactions?

You do not need to submit the documents again and you can use the same CAN for transactions.

What are direct mutual fund plans?

Mutual fund direct plans are those where AMC’s do not charge any intermediate fees, commission or trails from the investor. In other terms, there are no middle men or brokers in direct plans. Investors save 1%-1.5% on Direct Plans of mutual funds. You may read our blog to know more about Direct vs Regular plans

When I switched from Regular to Direct plans, I got lesser number of units. Why?

Since Direct plans have higher NAV than their Regular counterparts, when you switch from Regular to Direct you get lesser number of units.

Why Direct plans have higher NAV than Regular plans? Does this mean I am getting lower value on Direct plans?

Direct plans do not have to pay commissions and hence they have higher investible surplus. Due to this higher amount available, their NAV is higher than their regular counterpart. Higher NAV does not mean that you are getting less worth of your money. For example, If you have 10,000 Rs. to invest and NAV of Regular plan is 10 Rs and Direct is 11 Rs, then you will get 1000 units under Regular plan and 909.09 units under Direct plan. The amount invested is still the same. The returns in Direct plan will be higher than that of the Regular plan.

Do I have to pay any charges or tax when I switch from Regular fund to Direct Fund?

Wealthtrust does not charge anything for Switching of Regular plan to Direct plan. However, there you need to keep in mind the Exit Load and Tax impact.
Exit Load: Check whether your investment is beyond the exit load period. For example, most equity funds have an exit load of 1% if you switch/sell within 1 year of purchase. Hence if your investment is less than one year old and if you switch now you would need to pay 1% exit load on switching. In this case if your investments are more than one year old there will not be any exit load.
Tax impact: A switch transaction is considered as a sell and a buy for taxation purpose. Hence the gains made at the time of transaction are subject to tax. Read our mutual fund taxation blog to know more.

  • Switch
  • What is a Switch transaction?

    When you want to switch from one scheme/plan of a fund house ( AMC) to other other scheme/plan of the same AMC you can do a switch transaction. We provide the benefit of switching to low cost-higher returns 'Direct plans', in matter of seconds.

    What details are required for a Switch transaction?

    You need your folio number and scheme name for making a switch transaction. However to verify your folio you might be asked to provide a folio number proof, based on the fund house of the scheme.

    How will I know that the transaction is successful?

    Once you make a switch transaction we process the transaction forward after verifying the details. We try our best to process it in 24 hours. Once it is successful you will be notified by email. You can check the status in the 'My Orders' section as well.

    Can I switch from a fund of one AMC to a fund of another AMC?

    No, switching is allowed between the funds of one AMC only.

    How much time does it take to switch to direct plan?

    If you have all your details handy it takes less than 60 seconds to send us the switch order.

    Will I be charged Exit Load for Switch?

    Check whether your investment is beyond the exit load period. For example, most equity funds have an exit load of 1% if you switch/sell within 1 year of purchase. Hence if your investment is less than one year old and if you switch now you would need to pay 1% exit load on switching. In this case if your investments are more than one year old there will not be any exit load.

    What about tax implication on a Switch?

    A switch transaction is considered as a sell and a buy for taxation purpose. Hence the gains made at the time of transaction are subject to tax. Read our mutual fund taxation blog to know more.

  • Buy
  • What happens to my money when I do a Buy Transaction?

    Your money is transferred to AMC through an intermediate account held by MFU (Third party service provider). We do not receive any of your money in our accounts.

    When will I be allocated the units and at what NAV?

    You will receive same day NAV for non-liquid transactions of less than 2 Lakh (in a single scheme) in value if the transaction is made before 3:00 pm. For all liquid transactions and non-liquid transactions of greater than 2 Lakh, the NAV applicability will depend upon the realization of funds at AMC. In case of net banking payments or PayEezz, MFU Escrow account (Intermediate account) will be credited not less than T+1 business/working day wherein T refers to the payment initiated day. MFUI will ensure to transfer the funds to the AMC Accounts upon receipt.

    I have done a Buy transaction but the money is not deducted from my account and in Wealthtrust app the transaction is shown as processing. What should I do?

    If the money is not deducted then the transactions hasn’t gone through. You may retry the transaction. If the issue persists please Contact us.

  • SIP
  • How do I start an SIP?

    It takes around 20-25 days.

    Where do I need to send the SIP mandate?

    You need to send the mandate to our operations office, whose address is mentioned in the Contact us page.

    How much time does it take for SIP mandate to get approved?

    It takes around 20-25 days.

    I have put my SIP date as 5th of the month but my Payeezz mandate got approved on 14th, when will my SIP start?

    Once your Payeezz mandate is approved, our customer service will give you a call and if you want to trigger your first installment you can tell them so, from next month your SIP installment will be deducted on the scheduled date.

    I am not KYC compliant and completed my AADHAR based eKYC through the app, how much can I invest through SIP?

    You can invest up to Rs. 50,000 in a year per AMC. Hence you can have an SIP of maximum Rs. 4,000 in an AMC if you haven’t invested in any other fund/SIP of that AMC.

  • Redeem
  • How can I redeem my Mutual Fund Units?

    You can redeem your mutual fund units present in the WealthTrust portfolio anytime. Go to Smart Investment -> Transact -> Redeem and select any scheme which you have invested in and proceed with the redeem transaction.

    Can I redeem funds not bought through WealthTrust?

    No. Currently we allow you to redeem only those units which you have bought from or switched into using WealthTrust.

    How much time will it take for funds to be credited in my bank account after a redeem transaction?

    3-4 working days.

    The order status of my Redeem transaction is showing as Executed but I have not received the funds in my bank account, why?

    It is being shown as Executed as we have completed the process from our side. AMC takes 3-4 working days to deposit the money in your bank account

How does Power Savings work?

  • You invest in Reliance Liquid Fund – Direct Growth Plan.
  • Better Returns through ultra-safe instruments
  • Redeem 24*7; Instant credit in 30 minutes

How safe is it?

The fund invests in debt and money-market instruments which are low-risk instruments.

When do I get my money if I redeem?

Money is credited to your account within 30 minutes. It is real-quick.

How is it better than others?

You do not pay any commissions and you earn around 0.75% more than other apps.

Is it available for non-resident (NRI/NRE/NRO) investors?

Unfortunately the fund house doesn’t support instant redemption requests from non-resident investors. Hence it is not available for them.

What are the limits on redemption?

The maximum limit on instant redemption is 90% of balance or 50,000 (minimum of these) in a day. So, if your balance is Rs. 50,000 you can get max. 45,000 back in your account in few seconds. Rest you can redeem the next day or put a normal redemption order.

What are the plans available on Wealthtrust?

We have 3 plans available:

  1. Basic: You can Switch to Direct Funds, Track your Portfolio and check Top Funds.
  2. Premium: Apart from the features available in Basic Plan, you can open Investment Account, buy Direct plans of 25 different AMCs and Redeem from the funds you bought through Wealthtrust.
  3. Smart Advisory: Coming soon

How can I avail 6 month free offer on Premium Plan?

You get the offer automatically once you open an Investment Account with us.

How does WealthTrust capture the data?

WealthTrust decodes financial information from the transactional SMS in your phone. It employs smart natural language processing algorithms to do so.

Does WealthTrust read my personal messages?

No WealthTrust reads only transactional messages. It does not read even messages containing OTP, PIN and passwords.

How secure is WealthTrust's Financial Analyzer?

WealthTrust is the most secure app amongst it peers as it does not store any of your financial data on its servers. Your data stays in your phone and it is encrypted to ensure your data is intact even if your phone is lost. To add to that WealthTrust does not read any OTP, PIN, Password messages.

How will Financial analyzer help me save money?

"Financial Analyzer helps you save money in following ways:
1. You can see your high spend categories and see if your spend in those is going up or down. This can help you decide where to control your expenditure.
2. WealthTrust reminds you of your bills well in advance. This helps you pay the bills on time and avoid late payment charges.
3. WealthTrust tries to predict you low balance situations. This helps you to avoid defaults on your EMIs and help you avoid default charges.
4. You can also see trends of your bills. This can also help you decide where to control your expenses."

What is networth and how is it calculated?

Networth is your net economic position. It is summation of all your bank balances & investment value minus all your credit card outstandings.

What are these 'Future Debit' and 'Future Credit' transactions?

WealthTrust tries to predict your financial future by analysing your spending and income patterns.

Where can I see all the predicted transactions?

Click on the networth graph and swipe to the future tab. Here you can see all the predicted transactions.

What is cashflow analysis?

It is an analysis of your income vs your expenses. Through this you can see your total income and expenses for a particular period. You can compare them and see if you are spending more than what you are earning and control your spends.

How can I see category wise spends?

By clicking on the Expenses section in the cash flow analysis page you can see the category wise pie chart of your spends. This shows the percentage of your spends on a particular category.

How can I see category wise trends?

By clicking on the category pie or the horizontal bar below you can see the monthly and yearly trends of spend on a particular category.

Where can I see ministatement of all my transactions till date ?

The list of transactions below the bar chart in the 'All' tab of the Cash flow analysis is the minisatement of all your captured transactions.

Can I edit a transaction?

You can edit the category of a transaction. Currently you cannot edit other fields

How can I delete a transaction ?

You can delete it by going to the transaction detail page and clicking the delete icon which is on the top right corner.

Can I add a transaction manually?

Yes you can add a cash transaction or a transaction in any of your bank accounts or credit cards. Just press the '+' button on dashboard and add income or expense transactions.

Can I add a category manually?

Yes you can add a category manually. Press the '+' button on dashboard and add a new category. You can also map keywords against this category

Can I pay bills through WealthTrust?

Yes you can pay your bills through WealthTrust. Just click on the Bills section. It will show you your pending bills. Click on 'Pay now' button. It will take you the Biller's website and there you can pay your bills.

What is WealthTrust's role in Bill payments?

WealthTrust just tries to help you buy taking you to the biller's site. WealthTrust is not in anyway involved in any further process.

What if some bill payments are not automatically captured?

If some bill payments are not captured automatically, you can click on 'Mark as paid' and WealthTrust will now consider this bill as paid.

What is 'Low Balance Notification' ?

WealthTrust predicts any 'Low balance situations' that might arise in future to help you keep sufficient balance and avoid defaults.

Can I change the 'Low balance' trigger amount?

Yes you can change the amount on which Low balance will be triggered by going to Settings -> Notifications ->Low Balance Notifications . By default it is set at Rs. 1000.

Can I customize the notifications ?

Yes you can change the notification timings and enable/disable them by going ot Settings -> Notifications.

How can I manage cash transactions with WealthTrust ?

You can add Cash expense or income by using the '+' button. This will add a cash account to your Accounts and here you can see your cash transactions.

What is 'Cash as Expense' in the settings screen.

This is a feature related to cash management. By default all cash withdrawal are treated as expense and not as cash withdrawn from your accounts to your wallet or a cash account. If you turn 'Cash as expense' off then all cash withdrawal will be treatead as cash withdrawn from bank and deposited to your cash account. Now adding any cash expense manually will debit money from this account and vice-versa.

Can I lock the app with a PIN?

Yes if you want to lock the app with a PIN, just go to the settings screen and enable the PIN.