In many families, even though investments might happen through multiple individual accounts, one person is usually monitoring all the portfolios. It is extremely important to track the portfolio risks in terms of asset allocation and concentration to stocks and sectors not just at an individual level but also at a family level. But getting an accurate family portfolio view is a nightmare. The person managing the accounts would have to cobble together Excel sheets and various other portfolio tracking tools and deal with data quality issues.
Introducing the Family portfolio view on Console. It allows you to add up to 10 family member portfolios (Zerodha accounts) and track the consolidated portfolio through one account. Only viewing and tracking is allowed after explicit authorisation from the family member’s account. Regulations don’t allow one account to place orders on behalf of another, even if the other account belongs to a family member.
The combined portfolio shows asset allocation, exposure to stocks and sectors across all the accounts. You can use the drop-down to select a particular account.
Here are the steps to add family accounts
- Visit https://kite.zerodha.com/holdings and click on Family.
- You will be redirected to Console. Click on Link a sub-account.
- Enter the sub-account’s Kite user ID, PAN, and mobile number and click on Continue.
- An SMS with the verification link will be sent to the mobile number of the sub-account holder. The sub-account holder must authorize by clicking the verification link in the SMS, allowing the requester to view their portfolio. The verification link is valid for 2 hours.
- Holdings on the Console portfolio view are updated live with the latest price, but any stock bought or sold gets credited or debited becomes visible after the end-of-the-day settlement.
- NRI account addition for accounts with non-Indian numbers are not supported. This will be made available soon.
- This is a beta release. Currently, only holdings can be viewed at the family level. We are working on adding support for family-level tagging, goals etc.
- Linked sub-accounts can be removed from the Family section under Account on Console.
- Follow the steps described here to add family portfolios from the Kite mobile app.
- You can transfer shares from another demat account to your Zerodha account and update trade dates and prices for those transactions to effectively track the portfolio. Check this article for more.