Top Five Automatic Wealth Advisors in India
Robo-advisors have gained immense popularity over the past few decades, thanks to constant advancement in technology. These digital platforms use Machine learning models and Artificial Intelligence for developing tools and advanced features that aid the investor in making informed decisions about their investment. Robo-advisory, when compared to a traditional advisory, is inexpensive as there is no human labor involved and requires low to moderate capital to get started. Moreover, it is accessible round-the-clock and is highly efficient. Robo-advisors are the best alternatives available to amateur investors as they are user-friendly. In India, assets under management (AUM) within the Robo-advisors segment amounts to USD 42 million (Statista Report, 2019). It’s evident from the growing popularity of this sector that it will continue to thrive in the coming future. The following list provides brief information about the most popular automatic wealth advisors operating in India;
Scripbox: Scripbox.com is a Bangalore based asset management group founded in 2012. It is the parent company of another financial advisory platform, Upwardly. It has accomplished success by becoming the fastest growing financial advisory company in the last few years. The company provides complimentary Robo-advisory service to users planning to invest in mutual funds. They help them pick the best portfolio plan from the available options. Furthermore, a brief description of the return on investment and benefits is available. No registration or sign up required to use these services.
Goalwise: Goalwise, founded in 2015, is one of the most popular automated wealth advisors in India with over 14000+ users across 400+ cities. In addition to suggesting best mutual fund plans to its users, Goalwise’s Robo-advisor does portfolio rebalancing, risk profiling, advanced goal planning, and goal tracking for the investor. However, to use these facilities, an investor needs to register on the company’s website as well as complete the online KYC process. Tools like calculators are available to use for free. Goalwise also provides Zero-Commission direct plans to the investors for free.
5paisa: 5paisa is one of the top ten discount brokers in India with an extensive user base. The website provides access to risk profiling free of cost, and for assessing other features, one needs to buy the available subscription plans. 5paisa helps the investor in building investment portfolios through its Smart Investor feature. This feature involves portfolio modeling and other advanced research tools which help the investor in knowledge-based decision-making. Another feature introduced by 5paisa is the Portfolio analyzer, that helps in calculating the true market value of the portfolio, checks the DVM (Durability, Valuation, Momentum) score, performs decision analysis that helps in making decisions about buying, holding, or selling of the stock and gives information about how diverse the portfolio is. It also provides details about the valuation trend by calculating the P/E ratio, which is a crucial part of the fundamental analysis.
Invezta: Invezta’s Robo-advisory service provides various advanced tools free of charge, which helps the investor in making informed decisions about their investment. The following are the tools provided by Invezta;
1. SIP Calculator
2. Hybrid Portfolio Analyzer
3. Fund picker
4. Return Analyzer
5. Fund Card
6. Scheme Rolling Returns
7. Fund Manager Details
8. Portfolio Overlap
9. AMC dashboard
10.Sector Wise Holdings.
All these tools or features serve as a guide for the investor so that his investment decisions are purely based on facts and detailed analysis. Invezta has a user-specified goal-oriented interface. Invezta provides quality advice to the people backed with high-tech research. It offers three plans to the investor;
Starter: All the investments up to INR 50,000 are free.
Basic: To avail of the benefits of this plan, INR 79 per month is to be paid.
Premium: Under a premium subscription, INR 109 is to be paid per month. All the features provided under the basic plan plus other features, such as portfolio rebalancing, exclusive funds selection, and personalized allocation, are available.
Orowealth: Orowealth is a financial advisor company based in Mumbai. It was launched in 2016 and has performed competently ever since. Its Trademark, OroAssist, helps in rebalancing the investment portfolio through constant scanning of the investor’s portfolio and helps in selling, buying, or switching the multiple funds concurrently with just one click. Another feature provided by Orowealth involves automated tracking of the portfolio, which can be easily done by linking the Gmail account of the investor and is free of charge. Their website provides various SIP calculators that are easy and free to use. In 2018, the company got an award from HDFC Mutual Funds for being one of the wisest advisors in India. It currently has a user base of 2 lakh+ users.
These were the top five automatic wealth advisors in India, but the list doesn’t end here; there are many more such advisors; Angel Broking AQR, Arthayantra, 5nance, Bodhik, FundsIndia, Upwardly, Groww, Fisdom, etc. The Robo-advisory sector is gaining momentum in India despite its small market size. Due to its scientific research-based approach towards providing investment-related advice to investors, especially to novice investors, many broking firms and fintech companies have recognized the need for Robo-advisory. Thus, they are innovating their products in a way so as to give accurate as well as wholly automated wealth advisory to the Investors.
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