148 Opening online unit trust account (unit trust with servicing agent)

148 Opening online unit trust account (unit trust with servicing agent)

Introduction

Phillip Mutual has once again stand one step ahead—opening of FAME unit trust investment account (with servicing agent) online. That said, Phillip Mutual has two type of unit trust investment accounts that can be open online.

• Wrap / Non-Wrap unit trust account is our normal unit trust investment account where we agent used to meet client to sign them up by filling forms. Wrap / Non-Wrap account is suitable for clients that need agent's advice on fund selection or switching etc.
• Non-WRAP Account: Higher upfront Service Charge, higher inter-fundhouse switching fee, nil quarterly WRAP fee.
• WRAP Account: Lower upfront Service Charge, nil / minimal inter-fundhouse switching fee, quarterly WRAP fee applies.
• eUnitTrust account is a cost-saving investment account (refer to 147 eUnitTrust — Cost-efficient and convenient way to online unit trust / PRS investing)

Because of Movement Control Order (MCO), social distancing has become a new norm. At least for a short while, investors may not want to go to crowded place to meet an agent to sign up a new unit trust investment account. How wonderful if this step can be done online and future correspondence can be done through phone calls or emails with agent.




What is FAME unit trust investment account?

Financial Access Made Easy (FAME) is actually our online wealth management platform. All Phillip Capital clients can view all their investment through FAME account. One of the product is unit trust.

By using FAME, clients has the benefits of:-

1. Opening unit trust account online: That means no need to leave home or take leave to do this.
2. Perform all transactions online: Besides opening account, transactions like buying new funds, switching to another fund, redemption can be done online, anytime.
3. Choices, choices, and more choices: There are so many unit trust funds in the market. Sometimes certain fund from a certain fund house performs better than another fund house. By having choices, investor is not bound to choose a fund from a single fund house only. Example: investor may have China fund from CIMB, Technology fund from TA, Small Cap fund from Eastspring etc.
4. Agent's service: Investor can contact agent for advice before making any decision or performing any transactions.
5. Payment through FPX online transfer: When an investors decide to invest in a particular fund, then he is required to make a payment through FPX online transfer. Almost all banks can be used. No need to issue cheque, bring cash, buy banker's cheque etc. The process is similar to buying an airline ticket or making purchases at Shopee, simply use online banking. That's it.

Comparison of different unit trust account

	eUnitTrust	FAME online (non-Wrap)	FAME online (Wrap)
Features	All DIY. All fees low low low!	Agent's service. Standard Service Charge / Switching Fee. Regular Savings Plan. Buy and hold strategy.	Agent's service. Nil Service Charge and Switching Fee. Low Service Fee & Wrap Fee. Active transactions for performance.
Agent Assisted?	Minimal. All D.I.Y.	Yes	Yes
Minimum Investment to Open Account	RM1.00 (RM ONE only)	RM1.00 (RM ONE only)	RM1.00 (RM ONE only)
Minimum Injection to Start Investment	RM1,000.00 (RM ONE THOUSAND only)	RM1,000.00 (RM ONE THOUSAND only)	RM50,000.00 (RM FIFTY THOUSAND only)
Service Charge (on injection Amount)	Up to 1.5%	Up to fund house (typically 5.5%-6.5%)	Typically 0%
Service Fee (on injection Amount)	- Not Applicable -	- Not Applicable -	Typically 3% on Injection Amount.
Wrap Fee (annually)	- Not Applicable -	- Not Applicable -	Typically 1% on Market Value of portfolio.
Switching Fee	Up to 1.5% (Hint: Wait for promotion period to avoid paying. ^_^)	Up to fund house (typically 5.5%-6.5%)	Typically 0%.
	Open eUnitTrust Account Here	Non-Wrap Account Here	Wrap Account Here

How to Open Account?

1. Choose either Non-Wrap Account Here or Wrap Account Here.
2. In "1. Applicant's Details", fill up all the columns.
3. Click "Send Security Code" to receive a security code. Make sure you fill in "Mobile number" to receive this code. System will prompt "Valid security code entered".
4. Proceed to fill in all the columns.
5. At "5. Attachment & Confirmation" tab:
1. Click "Choose Files" to select the pictures of your NRIC front & back or Passport, then click "Upload Files".
2. Tick the checkbox to confirm all the information given
3. Tick the checkbox "I'm not a robot".
6. To complete the account opening, eUnitTrust request a minimum RM1 transaction for verification and confirmation purpose. This RM1 is not a fee because it will be invested in our Phillip Master Money Market Fund or Philllip Master Islamic Cash Fund.
7. In "Your Account Opening Process Is Almost Complete":
1. Select Phillip Master Money Market Fund (for non-Muslim) or Philllip Master Islamic Cash Fund (for Muslim).
2. For "Amount (MYR), Enter minimum 1 (you may enter any amount because all amount will invested in the fund selected above.)
3. For "Bank", please select the online banking you would like to use.
4. Tick the checkbox to declare and confirm "I/We declare ......"
8. The rest of the process will be taken over by the online banking.
9. Once everything complete, the account is open successfully.

After opening account, do drop me an email at sateo7689@yahoo.com so that I can take note of it, and contact with you for further assistance.