Reconciliation After MFD Data Migration: What to Check Before Go-Live

Reconciliation is the final and most important step before an MFD platform go-live. It is the process of comparing the imported data against the original sources to make sure everything is correct. Without reconciliation, you risk going live with missing folios, incorrect AUM, or wrong client details. This post covers what to check before go-live.

Compare Client Counts

Start with the basics. Compare the total number of clients in the old system and the new platform. If the numbers do not match, find out which clients are missing or duplicated. Missing clients can mean missing data, while duplicates can cause confusion and errors.

Compare AUM and Folio Counts

Check the total AUM and number of folios in both systems. These should match or be very close. Differences in AUM can happen due to missing transactions, wrong scheme valuations, or incorrect units. Folio count differences can indicate missing or merged folios.

Verify SIPs, STPs, and SWPs

Active systematic plans are the heart of recurring income. Verify that all active SIPs, STPs, and SWPs are correctly reflected in the new platform. Check the amount, frequency, start date, and folio for each plan. Missing systematic plans can lead to missed alerts and client complaints.

Validate Transaction History

Run a few reports and compare them with the original source. Check recent transactions for a sample of clients. Look for missing or wrong entries. Pay attention to dates, amounts, scheme names, and transaction types. Any error in transaction history will affect client statements and capital gains reports.

Conclusion

MFD migration reconciliation is not optional. It is the final safety net that protects your clients and your AUM before you go live. Take the time to compare client counts, AUM, folios, systematic plans, and transaction history before switching over.