I remember, few years back if someone has to invest in Mutual Funds, Insurance or Equity Shares, there was a long process of filling up application forms, submitting documents and passport size photographs. But nowadays, investment is as easy as online shopping. It is easy, convenient and hassle free. All you need is a smartphone, PAN and Aadhaar. I personally find it very useful and convenient.
There are a number of banks and online portals providing this facility now. All you need to do is to register with them and complete your KYC. Yes, you are ready to invest.
Now the question comes to mind that how useful is it for general public. When I say general public here, I am specifically pointing to people not directly associated with financial industry. As these online portals are only providing investment platform but not providing advisory services, people still don't feel comfortable to use these services. Even if they are giving all scheme related information on their portals, still it has no match to experienced financial advisers guiding you with your investments.
There are a number of banks and online portals providing this facility now. All you need to do is to register with them and complete your KYC. Yes, you are ready to invest.
Now the question comes to mind that how useful is it for general public. When I say general public here, I am specifically pointing to people not directly associated with financial industry. As these online portals are only providing investment platform but not providing advisory services, people still don't feel comfortable to use these services. Even if they are giving all scheme related information on their portals, still it has no match to experienced financial advisers guiding you with your investments.
Let's see an example of what makes advisers more trustworthy than any online portal. If you have a concern about your mobile balance being deducted without your knowledge, you call your mobile company and hear an automated message explaining about your last few deduction.
Does it satisfy you?
No, but you talk to customer service adviser and talk about the deduction. They also give the same answer but it satisfy you. We all know that talking to customer service agent is a paid service, but we still do that.
What's the difference?
We are human beings and we want a human to understand our concerns and guide us. A telephonic IVR system or an online portal cannot understand and acknowledge the value of your emotions. Yes, when it comes to money, we have our emotions attached to it. Because we do lots of effort to earn it.
I find online portals useful as I just need an easy tool to invest, because I belong to investment industry. It can also be useful for young people want to invest small amounts. But if I have to do a planning with specific goals in my mind, I need to discuss it with professional. I will choose human experience over technology.
Stay healthy and keep investing.
For all your investment needs, call WealthMaster.in Team @ +91-9810582989 or email at wealthmaster.in@gmail.com
Disclaimers:
For all your investment needs, call WealthMaster.in Team @ +91-9810582989 or email at wealthmaster.in@gmail.com
Disclaimers:
The views expressed in the blog are those of the authors and do not necessarily reflect the official policy or position of any other agency, organization, employer or company.
Insurance is the subject matter of solicitation.
Mutual Funds investments are subject to market risks. Please read the offer documents carefully before investing.
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