Your AMC may offer investors retirement planning products. An investor who invests in a retirement planning product invests into the underlying funds in the product portfolio.
Under each product, your AMC may offer different patterns of investment. Each such investment pattern is called a plan. It is essentially is an investment into the underlying portfolios of the product, and lays down the guidelines for the desired pattern of investment. A plan inherits the basic attributes defined for the product in which it is purchased.
After you define the different products that you offer to investors, you can accept requests from investors for purchasing or subscribing to plans in the products. An investor can purchase plans in any of the active products defined in the system.
This chapter contains the following section:
Any investor who desires to invest in any of the products by purchasing a plan in a product must be a valid unit holder with an account in the system. Therefore, you must set up a unit holder account for such an investor in the system, through the Unitholder menu in the Browser.
You can create policies for both authorized and unauthorized unit holders. If a policy is created for an unauthorized unit holder, the unauthorized account must be authorized before the End of Day process is put through on the date of creation.
For unit holders who wish to invest in IRA plans or retirement plans, you must use a product that has been defined with retirement features.
For a detailed discussion of the Unit Holder New Account screen, refer the “Managing Investor Accounts”