Nomination
Understanding Nomination
Adding a nominee allows you to designate up to three people who will inherit your investments, stocks, and funds if anything happens to you. This step ensures that your assets are handed over smoothly to your trusted loved ones, avoiding complex legal paperwork for your family later on.
Why Nominate?
- Smooth Transfer: Passes your holdings directly to your trusted person without legal delays.
- No Conflicts: Avoids inheritance ambiguity and disputes among family members.
- SEBI Mandatory: Keeps your account fully compliant and prevents transaction blocks.
How Nomination Works in Firstock:
- Online (Quickest): Go to Settings > Accounts in your Firstock dashboard to add, modify, or remove nominees online within minutes.
- Prefer doing it offline? Download the Nomination Form, fill it in, and dispatch the hard copy along with the self-attested supporting documents via courier/post to Firstock's registered office address.
- You can designate up to 3 nominees online in just a few clicks under your account settings, specify their allocation share, and e-sign using your Aadhaar-linked mobile number for instant processing.
FAQ
Yes, you can nominate a minor while opening your Firstock account. Please ensure the following:
- Details of a guardian (parent or legal guardian) are mandatory when the nominee is a minor
- The guardian will act on behalf of the minor nominee in case of any claim.
- The account holder cannot be listed as the guardian