Change Mutual Fund Distributor or Broker – ARN Code Update Process (India)

Change of Broker

If one wishes to change their mutual fund distributor (broker) — for example, from one advisor to another or to a direct plan — you need to submit a Broker Change Request to the respective Registrar and Transfer Agent (RTA).

The two main RTAs in India are:

      1. CAMS (Computer Age Management Services Ltd.)

      2. KFintech (formerly Karvy Fintech)

This process ensures your new broker/distributor code is correctly mapped for all your mutual fund folios.

1. Change of Broker in CAMS

Methods Available

You can change the broker/distributor in your CAMS-handled folios either physically or online.

A. Physical Method (Offline)

Step-by-Step Process:

      1. Download the Form:

            a. Visit https://www.camsonline.com

            b. Go to “Investor Services → Download Forms → Service Request Forms”

            c. Download the “Change of Broker Code Request Form” (often called “ARN Change Request Form”)

      2. Fill in the Details:

            a. Mention your folio number(s)

            b. Existing broker/distributor code (if applicable)

            c. New broker ARN code (or tick “Direct” if you want to switch to direct plan)

            d. Your name, PAN, and signature (as per folio records)

      3. Attach Documents:

            a. Self-attested copy of PAN

            b. If multiple holders – signatures of all holders required.

      4. Submit the Form:

            a. Submit at any CAMS Investor Service Centre (ISC) or drop it in the CAMS drop box.

            b. You can find branch list here: https://www.camsonline.com/Contact-us

      5.     Processing Time:

            a. Usually 5–7 working days.

            b. Confirmation will appear in your next account statement or online dashboard.

B. Online Method (Limited Availability)

CAMS generally allows change of broker/distributor only through physical submission for security and verification reasons.
However, some AMCs serviced by CAMS may allow broker change requests through their AMC portal or email with digital signature.
It’s advisable to confirm from your AMC’s customer care before attempting this online.

2. Change of Broker in KFintech (Karvy)

Methods Available

You can change the broker/distributor in your KARVY-handled folios either physically or online.

A. Physical Method (Offline)

Step-by-Step Process:

      1. Download the Form:

            a. Visit https://www.kfintech.com

            b. Go to “Investor Services → Download Forms → Service Request Form”

            c. Download the “Broker/Distributor Code Change Request Form”

      2. Fill in the Details:

            a. Mention your folio number(s) and scheme name(s)

            b. Enter the new broker ARN/RIA code

            c. Provide your name, PAN, and signatures of all holders.

      3. Attach Documents:

            a. Self-attested PAN copy of the first holder.

            b. If the form is signed by all holders, no further proof is needed.

      4. Submit the Form:

      Submit at any KFintech Investor Service Centre or send by post to nearest KFintech Branch

      5. Processing Time:
      Around 5–7 business days.
      You can verify after a few days by downloading your consolidated account statement or checking with the AMC.

B. Online Method

KFintech, like CAMS, typically requires physical submission of broker change requests.
But a few AMCs (like Nippon, HDFC, etc.) serviced by KFintech may allow such requests directly on their official AMC portals.

Important Points to Remember

      1. New investments will be tagged to the new broker, but existing holdings will retain the old ARN unless you explicitly request a change for those folios.

      2. Switching to “Direct Plan” requires redeeming existing units and reinvesting under “Direct Plan” — a broker code change alone doesn’t convert to direct plans.

      3. Always ensure your KYC is updated and your PAN and signatures match the folio.

      4. If you hold multiple folios, a separate request must be submitted for each RTA/AMC combination.

 

 

 

 

 


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