We started Tauro Wealth in 2015 with a resolve to balance long term interest of the customer and our company’s profitability. Unfortunately, we have not been able to scale-up fast enough to reap benefits of scale that a low-margin business depends on. We have found it increasingly difficult to create a space for the product in light of the reducing cost and effort required for investing in direct equity mutual funds. Since we did not want to deviate from the core premise of the product, we have decided to wind down the Tauro Wealth platform gracefully.
What happens to my current investments?
To safeguard the interest of our existing customers, the Tauro Wealth platform will stay active till 30th June 2020. While we are going to stop accepting fresh investments through the Tauro Wealth platform with immediate effect, your current investments will stay unaffected in the linked Sharekhan demat account.
- All existing SIPs in the Tauro Wealth primers have been suspended.
- New buy orders for Tauro Wealth primers have been blocked.
- Sell orders will continue to be allowed on Tauro Wealth platform till 30th June 2020.
- Stock buy-sell orders or Mutual fund buy-redeem orders will continue to stay unaffected on the Sharekhan trading and demat account even beyond the 30th June 2020 deadline.
What are my options?
- We strongly recommend withdrawing from Tauro Wealth primers at your earliest convenience by placing the order at https://www.taurowealth.com/Invest/Order/Sell . To avoid significant price volatility in case of large number of sell orders, we might stagger your order through the trading session or in some cases to the next trading session. Please reach out to us if you have any concerns regarding this.
- If your Sharekhan demat account has Mutual Fund investments or stocks other than those bought through Tauro Wealth, you can choose to keep using your Sharekhan trading and demat account. We would ensure a smooth transfer of your account to any Sharekhan branch of your choice.
- If you have no stocks and Mutual Funds in your demat account, you can choose to close your Sharekhan account by forwarding us a duly signed copy of the account closure form.
- If you have stocks and/or Mutual Funds in your Sharekhan demat account that your want to transfer to a demat account held in your name with any other DP, please include a duly stamped Client-master list (CML) form from your broker, along with the account closure form.