FAQs

At HappynessFactory, we follow the process of investing your money as per your needs or a specific purpose. Your financial goals can be anything you believe to be important such as your child's education, your retirement or even going on a vacation. When you invest towards your goals, you tend to be more disciplined and invest regularly, thereby increasing the chances of achieving your goal.

Generally, people set goals specific to their needs and aspirations. The most common ones include children's education & marriage, retirement, family’s health corpus, buying a house, and planning a vacation. Donating to or setting up a charity also ranks highly on many people's goals.

Studies have proven that you are 3 times more likely to succeed if you invest based on a plan. We have your best interest in mind and hence have created a very easy and convenient way to tag your investments to the goals you think are important.

We are happy to tell you that we have been able to help our clients meet their goals in almost all cases as long as our recommendations have been followed. Our planning and recommendations are based on a process that ensures that the investments are just right for meeting your goals. Your Investments dashboard gives you goal-wise portfolio tracking and investment status. While the risk of markets being volatile in the short run and you feeling that there is a gap in run rate always exists, our regular updates, review process and re-balancing ensure that we help you stay on track.

The Investments dashboard seen after logging in to your account will keep you updated on your goal-wise portfolio status. A formal review with your financial coach will be available to you once every 6 to 12 months. During the review, performance towards your goals, investment portfolios, and your required run rate will all get analyzed and a formal action plan to help you meet your goals will be shared with you to help you stay on track.

Top-Up SIP helps you to meet your goal by gradually increasing the monthly SIP amount each year if you are unable to start with the required SIP today. At the end of each year, we will remind you to confirm your decision to increase the SIP so that you are able to meet your goals. Here is an example:

	1st Year	2nd Year	3rd Year	4th Year	5th Year	6th Year
Monthly SIP required (for your goal)	5,000	5,000	5,000	5,000	5,000	5,000
Monthly SIP started (actual)	2,000	2,000	3,000	4,000	5,000	6,000
Top-Up SIP Required	-	1,000	1,000	1,000	1,000	1,000
Total Monthly SIP Required	2,000	3,000	4,000	5,000	6,000	7,000

The projected calculation of SIP is just to give you an overview of how you can achieve your goal. You may opt to implement it after one year if you wish. We will remind you when Top-Up SIP is due, at which point you may choose to increase the SIP amount.

The schemes are recommended to you taking into account the goal time frame and risk potential of your investments. Basic data about the scheme is available against the scheme and additional information is available for download via a link. The scheme recommendations are designed to provide you with a well-diversified portfolio in order to minimize the risk of any one category of schemes underperforming in a given market situation while still achieving your goals in the long run.

My family feature allows you to:

• Add family members to Happyness Factory
• Set up goals as "Family Goals".
• Enable family members to easily invest in these goals.
• Organize and track individual and family investments towards a goal.

Each family can have a maximum of 5 members, including the head of the family. Each registered user is allowed to be a part of ONLY ONE family.

A family goal can be created by any member of the family.

Members can begin investing in a particular goal at any point during the investment process.

Individual investments made towards a family goal will be visible to all members of the family goal once the portfolio has been generated. However, the redemption of the investments can only be done by the specific family member who has invested. No member can redeem the investment made by other family members. Also, Individual investments made in other non-family goals will not be available for viewing to other family members.

All primary and joint holders need to complete their KYC for investing in mutual funds. This is a one-time process for investors whose PAN is not already KYC compliant. Happyness Factory will try to auto-verify your investor and bank details if the primary investor's PAN is already KYC compliant. However, if auto-verification is not successful, then supporting documents would be necessary for investing with HappynessFactory. Your account will be activated for investments only once your documents have been verified and the investor's PAN is KYC compliant.

The pre-filled forms along with a complete list of the required documents can be downloaded by going to the Download Forms option under the "My Profile" section once you have registered and entered all your investor details.

If no discrepancies are found, the validation of KYC documents takes 2 business days and that of the NACH mandate takes between 10-15 business days.

In most cases, simply uploading or emailing the scanned copies of your signed documents would suffice. Wherever necessary, pick-up services for your signed forms and supporting documents are also available. To schedule a pick-up date and time, email us at contactus@happynessfactory.in . One working day TAT is applicable on pick-up services. You can also have your documents couriered to our Mumbai office address: MFA Wealth Pvt. Ltd. 201, Narain Chambers, Mahatma Gandhi Road, Vile Parle (East), Mumbai-400057.

The Securities and Exchange Board of India (SEBI) regulations require us to verify that the bank account used for investment actually belongs to you i.e. the person making the investment. They also prohibit third-party transactions. We usually try to verify your bank account using a penny-drop transaction to confirm whether the investor is the account holder or not. However, if that process fails, a canceled cheque with your name printed on it needs to be submitted during the registration process. If your name is not printed on the cheque, please attach a self-attested bank statement not older than 3 months.

"Know Your Customer" or KYC is a term commonly used for the customer identification Process. Prescribed by the Securities and Exchange Board of India (SEBI), KYC norms for financial institutions and financial intermediaries including mutual funds are put in place to 'know' one's clients. This involves verifying your identity, address, financial status, occupation, and other such information. With effect from 1st January 2012, all categories of investors, irrespective of the number of investments in mutual funds, are required to comply with KYC for carrying out any transactions in mutual funds. Thus, any investor (all applicants in a folio) investing in mutual funds would be required to be KYC compliant by any KYC Rating Agency (CVL, NSE, NSDL, CAMS, or KARVY) without which the transactions may be liable to be rejected by the respective Mutual Fund houses. KYC norms are mandatory for ALL applicants/investors (including existing investors and joint holders) while investing with any SEBI-registered mutual fund, irrespective of the amount of investment. This one-time verification is valid for transactions across all mutual funds.

FATCA (short for Foreign Account Tax Compliance Act) is a regulation created by the US Government to curb tax evasion by US citizens. Under this regulation, assets held by US citizens in other countries now have to be reported to the US government.

As a result of India signing a reciprocal agreement with the US government to share information acquired through the FATCA of each other's citizens, all financial institutions (such as mutual funds) have to identify the citizenship and the tax status of investors, and provide necessary information to the government.

A FATCA information declaration is done by filling out the FATCA form as a part of the “Investor Details” page while registering at HappynessFactory.

The NACH Mandate is like a bank mandate instruction that you provide your bank to authorize them to transfer the amount being invested by you directly to the Mutual Fund House.

Your bank may charge a one-time fee to register the mandate.

Effective Feb 01, 2021, as per SEBI circular dated Sept 17, 2020, the applicable NAV in respect of the purchase of units of the mutual fund scheme shall be subject to the realization and availability of the funds in the bank account of the mutual fund before the applicable cut off timings for purchase transactions, irrespective of the amount of investment, under ALL mutual fund schemes.

We support most of the nationalized public banks, major private banks, as well as most of the regional scheduled and cooperative banks. Payment can be done using multiple payment modes including Netbanking, NACH mandate, NEFT/RTGS, or Cheque depending on which modes are supported by your bank.

The efficiency of various payment modes for Lumpsum and SIP transactions is given here.

The minimum amount that can be invested in a scheme is a SIP of Rs. 1000 or a Lumpsum of Rs. 5000. In some schemes, a higher minimum limit may be applicable, if specified by the AMC. The AMC-specified limits and other relevant information regarding investments in each scheme are mentioned in the scheme information documents provided by the AMCs.

You might not be able to see your investments because you may not have confirmed your order or the payment may be pending. Check the cart to see if there are any pending orders or payments. If the order was confirmed and payment was successfully done, then you should be able to check the order status in Order History. Once the investment is funded and the NAV and unit data are available from the RTA, the investments will be visible in your Investments dashboard. It may take between 2-5 business days for investment data to be available in your dashboard.

Upon successful execution of any transaction, those transactions will reflect on the Investments dashboard as transactions under processing. Additionally, you can view the status of all the orders you have placed in the last 6 months in Order History. You may also check on the Asset Management Company (AMC) website with your registered PAN, mobile number, or email address for an account statement which will confirm your transactions.

An insufficient balance will result in that month’s installment of your SIP failing. You can make up for the missed installment by making a lumpsum payment in the same folio once you have sufficient funds available. Failure to pay for an installment will not result in any charges or penalties from HappnessFactory or your Asset Management Company (AMC). However, your bank may charge for failed mandate payments. Moreover, if more than two consecutive months’ installments fail, then the AMC may cancel the SIP and you would need to start a new SIP later.

Once an order has been confirmed but not yet paid for, it can be canceled by going to the cart and selecting the cancel action against the order. Once an order has been paid for, it cannot be canceled.

When you plan your goals, you can specify the monthly SIP amount that you wish to invest towards your goal, and accordingly place the SIP orders in the recommended schemes for investment. In order to make recurring monthly payments for your SIP transactions, you also need to set up a one-time NACH mandate with your bank. The mandate can be set up using either the e-Mandate mode through Netbanking or Debit Card (if and as supported by your bank), or through a paper-based NACH mandate form which can be signed and uploaded/emailed to us. This will enable SIP payments to be automatically debited from your bank account as per the SIP dates planned by you and remitted to the Mutual Fund Houses to fund your monthly transactions.

When you want to stop a SIP, a Stop SIP request needs to be placed after logging into your account. The SIP will be stopped within 3 working days of placing the request.

In order to reduce the SIP amount, you need to stop your current SIP and place a new SIP order with the reduced amount.

In some schemes, fixed days of the month are specified by each Asset Management Company (AMC) for monthly SIP Investments. These are the only SIP days available for selection when you choose such a scheme for your investment.

Yes, you can make Lumpsum Investments for your goals either through goal planning or Invest More options. After confirming the lumpsum orders, you can make the payment by using Net Banking, Cheque, or Bank mandate (if already registered) options.

Yes, different types of reports are available covering various aspects and views of your investments. Following are some of the reports that are available: 1) Summary/Detailed portfolio holding reports 2) Transaction report for transactions between a specified period 3) Ongoing SIP/STP reports 4) Unrealized Gain/Loss report 5) Realized Capital Gains report 6) Goal-wise Planning report These reports can be downloaded from the bottom of the "My Investments" page of the web portal or can be requested to be emailed to your registered email id from the HF Invest mobile app.