Published Jun 29, 2026 4 Min Read

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Introduction

A change of broker in mutual fund allows you to move your mutual fund servicing from one AMFI-registered distributor to another without redeeming your units. Your investments remain in the same mutual fund schemes, while only the distributor details linked to your folio are updated.

  • A Change of Broker (COB) updates the distributor's ARN (AMFI Registration Number) linked to your folio. 
  • Your mutual fund units, NAV and investment value remain unchanged. 
  • You do not need to redeem or repurchase your mutual fund units. 
  • KYC must remain valid, as required by SEBI. 
  • The Bajaj Broking website offers access to 4,000+ mutual fund schemes, with SIP investments starting from Rs. 100 per month for eligible schemes. 
  • Always ensure your new distributor is AMFI-registered. 

Start your investment journey on the Bajaj Broking website by completing your KYC, exploring 4,000+ mutual fund schemes, and investing through SIP or lumpsum.

What is Change of Broker (COB) in mutual funds?

A Change of Broker (COB) is the process of updating the distributor associated with your mutual fund folio. Instead of selling your investments, you simply authorise the Asset Management Company (AMC) or Registrar and Transfer Agent (RTA) to replace the existing distributor's ARN with a new one.

Only the servicing distributor changes. Your mutual fund units, investment amount, applicable Net Asset Value (NAV) and scheme remain the same.

You may request a COB if you want better service, improved investment support or wish to consolidate your investments under one distributor.

Why do investors request a change of mutual fund broker?

You may decide to change your mutual fund broker for several reasons. The process allows you to continue holding your investments while receiving services from a different AMFI-registered distributor.

ReasonWhy investors request COB
Better customer serviceTo receive improved support and portfolio assistance.
Single-point managementTo consolidate multiple investments under one distributor.
Better digital experienceTo access online investment and tracking services.
Relationship changeTo move investments to another trusted distributor.
Advisory preferenceTo receive investment guidance that better matches your financial goals.

A Change of Broker does not affect your mutual fund units or their market value.

How do you change your mutual fund broker?

The process is generally straightforward and involves submitting a Change of Broker request to the AMC or its Registrar and Transfer Agent (RTA).

  1. Choose your new AMFI-registered mutual fund distributor. 
  2. Obtain the Change of Broker (COB) request form from the AMC, RTA or the new distributor. 
  3. Complete the form by entering your folio number, investor details and the new distributor's ARN. 
  4. Sign the request using the signatures registered against the mutual fund folio. 
  5. Submit the completed form and supporting documents to the AMC or RTA. 
  6. Wait for the request to be verified and processed according to the AMC's procedures. 
  7. Confirm that the new distributor's ARN has been updated in your mutual fund folio. 

Mutual funds are subject to market risk. Please read the scheme-related documents carefully before investing.

Documents required for Change of Broker in mutual fund

The exact documents may vary slightly across AMCs and RTAs. However, the following documents are commonly required.

DocumentWhy it is required
Change of Broker (COB) request formTo authorise the distributor change.
PAN cardTo verify the investor's identity.
Folio numberTo identify the mutual fund investment.
KYC detailsTo confirm compliance with SEBI regulations.
Investor signatureTo authenticate the request.

Before submitting your request, ensure all information matches the details registered in your mutual fund folio.

AMFI's 12-month trail commission rule after COB

AMFI introduced a 12-month cooling-off period for trail commission when an investor changes the mutual fund distributor through a Change of Broker (COB) request. The rule came into effect on 11 August 2025 and applies to changes in the distributor's AMFI Registration Number (ARN). 

The rule affects the distributor's commission only. It does not affect your mutual fund units, NAV, investment value or returns.

RuleWhat it means
Cooling-off periodThe new distributor becomes eligible to receive trail commission only after 12 months from the date the ARN change is processed. 
Existing investmentsYour mutual fund units remain invested in the same scheme. There is no redemption or fresh purchase.
Investor impactYour portfolio, NAV and investment value remain unchanged. Only the servicing distributor changes.
Repeat broker changeIf the distributor's ARN is changed again within the 12-month cooling-off period, the 12-month period starts again from the latest ARN change date. 
Purpose of the ruleThe rule aims to discourage frequent broker switching and reduce unnecessary distributor-driven transfers while protecting investors' interests. 

AMFI also strengthened the COB process by introducing additional investor verification measures. After an ARN change request is received, the Registrar and Transfer Agent (RTA) sends an SMS to the investor. If the investor does not report any unauthorised request within the specified period, the broker change is processed according to the prescribed timeline.

Common issues after changing your mutual fund broker

A Change of Broker usually updates only the distributor details in your mutual fund folio. However, you may experience a few temporary issues while the request is being processed.

IssuePossible reasonHow to resolve it
Portfolio not visibleBroker mapping has not been updated yet.Wait for the AMC or RTA to complete the update or contact customer support.
ARN not updatedThe request is still under processing or contains incorrect details.Verify the ARN and follow up with the AMC or RTA.
Request rejectedMissing documents or signature mismatch.Submit the corrected documents and reapply.
Delay in processingVerification by the AMC or RTA is pending.Track the request status with the AMC, RTA or new distributor.
Incorrect folio mappingFolio details do not match the request.Contact the AMC or RTA to rectify the records.

Before submitting a COB request, ensure your PAN, KYC details, folio number and signatures match the records maintained by the AMC.


Can you change your mutual fund broker without selling your units?

Yes. You can change your mutual fund broker without redeeming or selling your mutual fund units. A Change of Broker only updates the distributor's AMFI Registration Number (ARN) linked to your folio.

Your investment remains in the same mutual fund scheme. The number of units you hold, the applicable Net Asset Value (NAV) and your investment value do not change because of the broker transfer.

After the request is processed, the new AMFI-registered distributor becomes responsible for servicing your investments. The underlying mutual fund scheme continues to be managed by the respective AMC.


Conclusion

A change of broker in mutual fund allows you to transfer the servicing of your mutual fund investments from one AMFI-registered distributor to another without redeeming your units. The process updates the distributor's ARN linked to your folio while keeping your mutual fund units, NAV and investment value unchanged.

Before requesting a Change of Broker, ensure your KYC is complete, your documents are accurate and you understand the applicable AMC and AMFI requirements. If you invest through the Bajaj Broking website, you can access 4,000+ mutual fund schemes across equity, debt, hybrid, ELSS and thematic categories. You can invest through SIP from Rs. 100 per month or choose a lumpsum investment for eligible schemes.

Frequently asked questions

What is Change of Broker (COB) in mutual funds?

A Change of Broker (COB) in mutual funds is the process of changing the AMFI Registration Number (ARN) linked to your mutual fund folio from one AMFI-registered distributor to another. Your mutual fund units, investment value and scheme remain unchanged. On the Bajaj Broking website, you can invest in 4,000+ mutual fund schemes across equity, debt, hybrid, ELSS and thematic categories after completing your mandatory KYC.


How do I change from one mutual fund broker to another?

You can change your mutual fund broker by submitting a Change of Broker (COB) request form to the AMC or its Registrar and Transfer Agent (RTA). The form generally requires your folio number, PAN, investor details, signatures and the new distributor's ARN. After verification, the AMC updates the distributor details linked to your folio without affecting your mutual fund units.


Can I change mutual fund brokers without selling my investments?

Yes. A Change of Broker only updates the distributor associated with your mutual fund folio. Your mutual fund units, applicable Net Asset Value (NAV), investment value and scheme remain unchanged. You do not need to redeem or repurchase your investments. The Bajaj Broking website enables you to continue investing through SIP or lumpsum while your investments remain with the respective AMC.

Why is my mutual fund portfolio not showing after a broker transfer?

Your portfolio may not appear immediately after a broker transfer because the AMC or RTA may still be processing the Change of Broker request. In some cases, the new distributor's ARN mapping may not have been updated yet. If the issue continues after the expected processing period, contact the AMC, RTA or your new distributor to verify the request status.

 

What documents are required for Change of Broker in mutual fund?

The documents generally required include a completed Change of Broker (COB) request form, your PAN card, folio number, valid KYC details, and the registered investor's signature. Some AMCs or RTAs may request additional documents depending on the type of folio or investor category. Ensure all details match the records maintained by the AMC before submitting the request.

How long does a Change of Broker request take to process?

The processing time for a Change of Broker request depends on the AMC and the Registrar and Transfer Agent (RTA). The request is processed after verifying the investor's details, signatures and supporting documents. If there are missing documents or discrepancies, the processing time may be longer. You can check the status of your request with the AMC, RTA or your new distributor.

 

How do I change my mutual fund broker online in India?

Online broker change facilities depend on the AMC or the Registrar and Transfer Agent (RTA) servicing your mutual fund folio. Where available, you can submit a Change of Broker request by providing your folio details, completing the required authentication and selecting the new distributor's ARN. If online submission is not available, you may need to submit a physical COB request form with the required documents.

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The information contained in this article is for general informational purposes only and does not constitute any financial advice. The content herein has been prepared by BFL on the basis of publicly available information, internal sources and other third-party sources believed to be reliable. However, BFL cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed.

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