We have introduced a feature aimed at automatically preventing the users from subscribing to Registered Investment Advisors (RIAs) under two distinct fee structures within a 12-month timeframe.
How it works
When a user, who has either an active subscription or had one within the last 12 months, to an AuM smallcase managed by the RIA, tries to subscribe to a flat fee smallcase, or vice versa, they'll encounter the following screen. At this point, the user won't be able to proceed with the subscription.
It's essential to note that here, a user is defined by PAN. So, even if a user tries to use a different email, as long as they use the same PAN, they will still encounter the above screen. Additionally, this feature will only block new subscriptions, while renewals can continue as usual.
For example, consider a user who had a subscription to a fixed-fee smallcase from Jan 1, 2023, to Jul 1, 2023. If this user attempts to start a new subscription to an AuM smallcase managed by the same RIA on Aug 1, 2023, they will encounter the above screen and will not be allowed to proceed. The user will only be eligible to subscribe to the AuM smallcase on or after Jul 1, 2024, once 12 months have passed since the end of their previous subscription.