#roboadvisory

The term “robo-advisor” has rapidly gained traction in financial circles, piquing the interest of both seasoned investors and novices alike. But what exactly defines these digital entities, and how are they influencing the broader landscape of financial planning? In this article, we’ll delve into the sophisticated world of robo-advisory platforms. Understanding Robo-Advisors in Modern…

It’s happened all across the globe, not just in India… Financial planners charged hefty fees and delivered little results. Investment advisers gave biased advice eyeing the high commissions. … Investors with nominal capital face another difficulty. As you would know, only a handful of advisers and financial planners are keen to offer them services. Otherwise, acquiring “High-Net-worth Individual (HNI) clients” is the primary objective for advisers. Would you like to know what their rationale behind this is? “All clients irrespective whether they are HNIs or small investors, want top-quality services. As a result, servicing small investors becomes a loss-making proposition.” There might be some merit in this argument, but only to a certain extent. It’s often said that retail investors in India don’t want to pay for service. This is a partial truth. If somebody ever wondered why the average retail Indian investor has been depending on friends and relatives for investment advice, it’s because professional advisers avoided him/her. Does that mean low-net investors should be left out and HNIs are undeserving? Certainly not. Technological innovations are helping address issues that concern both kind of investors . Robo-advisory platforms are likely to change the dynamics of the financial services industry in future. Does this mean investors are to trust machines more than humans? Not quite. Let’s not forget, behind any technology, there’s always a human brain at work. As it is in the case with robo-advisory platforms. In simple words, robo-advisory is the investment advisory service managed by software-based platforms that use human-made algorithms. Undoubtedly, robo-investing is a significant development that’s likely to work positively for investors. Here’s how…

Robo-advisory platforms offer more options to investors as well as to advisers. If it was uneconomical to serve the retail investor with the human-advisory model, robo-advisory platforms offer an extremely economical alternative to retail investors. Although robo advisers provide you with “programmed” advice, it’s customised to an extent, based on the response of the investors to an online questionnaire that tries to assess investment objectives and the risk profile of the client. In other words, the quality of the output (advice/recommendations) depends on the quality of inputs (investors’ question/enquiries). Therefore, if you are going to use the robo-advisory platform, you need to be careful while filling up the input sheets. The approach you follow while filling up the feedback form at a restaurant isn’t the same as filling up this form—you simply can’t be casual. As far as the investment advisories are concerned, they use robo-advisory platforms as an additional tool that helps blend their offerings. They automate the simpler processes and retain the human-advisory model for more personalised and sophisticated advice. This helps them add more value to their services and may lead to greater client satisfaction.

Robo advisers offer consistent and instant advice . Human financial advisers are human first and investment advisers later. A variety of events and developments affect them. For example, if your advisor is generally averse to risk, he/she will always discourage you from taking the risk, even if your risk appetite is high and your financial circumstances allow you to take the risk. Conversely, if your investment advisor is aggressive, he/she may sometimes encourage risks, although your risk appetite is low. Similarly, his/her response to your queries may differ depending on market conditions, business targets they may be working towards and your rapport with him/her. Unlike this, robo advisers offer you consistent and instant advice. Sure, they are developed by humans, these aren’t altered frequently. Their response is purely based on the quality of question/query you feed in. Robo-advisers won’t look at the market indices and advise you on your investments. The inherent quality of robo-advisers is that these discourage the speculative approach to investing. Similarly, they won’t be driven by any sales targets, and so won’t alter their responses with some hidden motives. And these days, instant advice is becoming popular. Whatever be the approach of investors, smart investors understand the nuances of investing and they know that it’s better to be patient rather than take any decision in haste.

Better record keeping At present, not all human-advisers offer a digital record keeping option to their clients. As a result, many a time, they as well as their clients lose the sight soon after investments are made. Timely evaluation of the portfolio is necessary. Robo-advisers make a significant difference here. They not only help you retrieve even the minutest detail of your investments they offer you a safe alternative to transact.

Things to remember before you use the robo-advisory platforms...

They are built as a standard response tool to the standard personal finance needs. If your situation is unique, you may still need one-to-one advice.

The quality of a robo advisory platform entirely depends on the understanding of the person/company developing it. If the developer or its associates are well-versed with the personal finance domain, the platform would be more effective and vice-a-versa. Therefore, before, you get hooked onto a robo-advisory platform, you must check who’s developed it and who’s going to run it.

Don’t forget to know, how the robo-advisory platform will earn for itself. If it offers you everything for free and earns through commissions generated on your investments that would be just a digital variation of existing flesh-and-blood advisers who are driven by high commissions. On the contrary, if it encourages you to invest in direct plans offered by mutual funds, and charges you a small fee for its advice, that might work as a real fee-only trustworthy advisor. If you need handholding or high level of customisations while preparing your financial plan, don’t hesitate to seek services of a Certified Financial Guardian, who is mark of trust and respect.

Last but not the least, please ensure, the robo advisory platform has invested enough time and resources in securing your data and privacy to avoid being into unpleasant situations.

HNI (High-Networth Individual) was a buzzword in the mutual fund distribution industry until recently.

Before ‘fee-only’ advisories mushroomed, only those with a huge investable surplus were getting value-added services.

Risk-profiling and asset allocation—which should be ideally the starting point of any investment plan—were offered as value-added services to customers who could give ‘more business’.

As a result, many investors developed a habit of investing in an ad-hoc manner. But with the advent of robo-advisors, customising investment plans has become possible even for small-time investors.

Do you know?

A dependable robo-advisory platform helps you create your personalised asset allocation plan.

Asset allocation decides your success as an investor.

If you allocate your financial resources based on your asset allocation, you tend to move in the right direction for achieving your financial goals.

The vital question you might want to ask now: Are robo-advisors capable of offering quality advice on asset allocation?

The answer is — Yes.

What are the steps that robo-advisors generally follow?

First step

A good robo-advisory platform will ask for your personal details—name, age, nature of employment, etc. They will understand your financial or life goals and the time horizon you have set to achieve them.

Second step

Besides knowing your goals, it’s imperative to understand how much risk you are willing to take. To get the sense your risk profile, the robo-advisor will ask you a few questions.

Based on your response and information you shared, the robo-advisory platform will suggest a suitable asset allocation plan.

For example, if you are young and have a high-risk profile and your goals will be up for the fulfilment only after 5-7 years; the asset allocation may suggest to put more money in equity-oriented mutual funds.

Conversely, if you are senior citizen and your financial objective is regular income post retirement, it will recommend that you maintain a minimum allocation to equity-oriented funds.

Once a suitable asset allocation is determined, the robo advisor may suggest suitable mutual fund schemes to invest.

Is this service chargeable?

While different robo-advisors give you an asset allocation plan as a value-added service; some of them might charge a percentage fee for your investments. Others will charge you a small fee payable every year, irrespective of your investment portfolio.

Care you should take…

First and foremost, robo-advisory platform is an algorithmic tool. Unless, you answer the preset questions precisely and sincerely, it may not generate dependable results.

Therefore, never be in a hurry to complete the questionnaire. Haste makes waste. So take your time to diligently fill it up.

And as said earlier, a lot of your success as an investor largely depends on your asset allocation.

And secondly, while you enjoy value-added services of robo-advisory platforms, you shouldn’t get carried away by their generosity.

Please ensure that the schemes they suggest are backed by proven research. After all, the asset allocation plan created by a robo-advisor is pre-built and customised only to a certain extent. And that is dependent on your feedback to the questions it asks.

The real success of your mutual fund investment portfolio depends on your selection of schemes.

Since there’re thousands of schemes are on offer, for most of investors it becomes confusing to shortlist a few among them. Even the star ratings which are available for free with some platforms don’t help either. Let’s not forget star-rated funds aren’t evergreen and there’s no study that proves they can repeat their past performance perpetually.

PersonalFN Research has identified and implemented key parameters that will help find funds that will outperform in future. Apart from quantitative we also focus on various qualitative factors that help achieve the overall performance of the fund. PersonalFN believes that if the fund houses investment philosophy, process and systems are in place, it will result in a radiant performance of the fund in future.

The output of our rating system is derived from our stringent scoring model, which ensures that the scheme is tested on various quantitative as well as qualitative parameters and accordingly compared and scored vis-à-vis its peers. The schemes able to pass through our rigorous test and achieve the maximum composite score on all parameters (based on pre-specified weightages) will get higher star rating.

PersonalFN backs all its services by solid research.

PersonalFN is expected to launch an ultimate robo-advisory platform soon which will provide Direct Plans.

Happy Investing!

Tea tastes like tea whether you buy it online or from a store near you.

And selling it online or offline, through a distributor/dealer, doesn’t change the process of cultivation either.

Yet buying and selling tea online can be beneficial to all — customers, tea growers, and tea manufacturers.

Why?

It gives sellers a larger scale of operations and buyers, the convenience.

Tea growers also benefit indirectly as they stand to gain from the improved business of a manufacturer.

Who’s affected negatively then?

The middleman facilitating offline trades.

Imagine, every tea manufacturer selling tea online one day.

Wouldn’t this become counterproductive?

Buyers would be confused which ones to buy.

Connoisseurs could see this as a business opportunity and start offering buyers advice on the variety of  teas. Since their passion for quality and love for taste is eternal, they start charging a small fee for their advice. For them, receiving money from the tea manufacturer or seller is simply compromising on taste and quality.

Sensing online sales as a significant opportunity, some middlemen shut their offline business and open online shops. They have no qualms in receiving commissions from tea manufacturers.

Some of them are intelligent. Since they have been selling tea for years, they know a thing or two about taste as well. They too start offering advice on which teas to buy.

But they have no ‘passion’ for taste, just money. So they write a positive review about a tea if the manufacturer compensates them for this ‘favour’.

Guess what?

Companies facilitating online trades—mainly tech firms—too get excited about this ‘mouth-watering’ business opportunity. They have no sense of taste nor do they have any passion for teas.

But one thing they know is which tea sells more!

And they also draw conclusions on what is each tea connoisseurs’ favourite tea.

Using advanced analytics, they are trying to overcome the difficulty they face — the lack of knowledge about teas.        

And when it comes to facilitating transactions using technology, nobody can really beat them.

Similarly, connoisseurs try to up their game by upgrading their online presence.  

Now as a buyer, whom would you approach first:A middleman who newly started an online store?

A tech platform that believes tech is the answer to taste?

A connoisseur whose passion is tea?

If you decided to go with the option 3, you’ve most likely made the right choice.

What you just read about tea, is actually right about mutual funds as well.

Mutual funds always lacked the reach. And online platforms are helping them overcome this difficulty.

But you know who made the real difference to increasing the popularity of mutual funds?

Unbiased investor education campaigns by increasing the awareness of options and instruments.

Unbiased research-oriented companies like PersonalFN made incessant efforts to dispersing information about mutual funds, creating awareness among masses and guiding them on making the right choices. They are the real ‘connoisseurs.’

Distributors are slowly losing their market share. But there’s a brand new business mushrooming.

Robo Advisory!

If you ‘Google’ the word ‘Robo Advisor’ you will get some 37.7 lakh results.

Robo advisors are certainly in vogue.

What’s robo advisory all about?

Robo-advisory platforms enable you to save and invest in mutual funds in an automated manner. What’s more, there is no need to visit a branch or send physical documents to enact transactions. Everything can be done online through the internet.

Robo advisory business can offer scale, comfort, and economies of scale to all parties involved — mutual funds, investors, and the robo-advisors themselves.

Here are four criteria that make a good robo-advisory platform:

Service

Some robo-platforms may offer you only transactional services, while others may provide you with a host of offline and online personal finance offerings.

But in addition, a good robo-advisory platform should also have advanced tracking and portfolio rebalancing services. Those that offer a mix of services should be worthy of your long-term financial commitment.

Also, the platform should be backed by a team of experienced customer service associates.

If you have any query related to the investments you make or if you are facing issues when transacting, it should be resolved quickly and professionally.

Unbiased and research-backed advice

A robo-advisory platform backed by astute and comprehensive research processes help you select the right mutual fund schemes. Research plays a vital role; the fund’s performance should not be the only criteria.

Established and reputed company

As mentioned before, there is no dearth of robo-advisory platforms as the barriers to entre the market is low. While the competition is immense, you need to choose wisely and entrust your money to the best robo-advisor.

Opt for a robo-advisory platform backed by established companies in the financial services space, who have been unbiased in their approach and serving investors diligently for decades.

Robo advisory platform should be fee-based to ensure that the commissions do not influence their advice. And sound and ethical research-backed investment recommendations are imperative.

Costs

Costs play a crucial role when you are planning your investments. Different robo-advisory platforms may charge you through one of the methods below:

An advisory or subscription fee (monthly, quarterly or yearly)

A transaction fee (each time you execute a transaction through them, they charge you a fee)

A percentage of the amount invested. (Popular in the US)

Commissions earned from fund houses of recommended funds

But like in case of teas, the only problem here is when a distributor-turned robo-advisor or a tech-platform starts advising you on mutual fund investing.

Tech-firms will keep talking data, data, more data, and only data.

Analytics can also throw deceptive conclusions if parameters applied for the purpose of analysis are inaccurate or unsound.

So are tech-startups perhaps misguiding when it comes to mutual fund advisory?

A blunt answer is yes!

For tech firms, robo-advisory is just another ‘use-case’ in their lingo.

Distributors are experienced and some of them understand even the nitty-gritties of mutual funds. But then, being biased has always been a part-and-parcel of their business. “You give me commissions and I will do you a favour”, “You stop my commissions and the favours I do for you will stop. “

What’s a connoisseur real asset…

Trueness of advice and passion for taste.

That’s the bread-butter of a connoisseur.

Therefore, robo advisory platform of PersonalFN which is soon to be launched, can survive only if investors benefit from its advice.

It works ONLY in the interest of its investors.

Like any other tech-startup promoted robo-advisory platform, PersonalFN’s robo advisory platform too offers you ease and convenience of investing.

But its real strength, as highlighted earlier, is its unmatched competence in choosing the best mutual funds for your portfolio. Read about its research methodology here.

PersonalFN‘s robo advisory platform isn’t focused on aesthetics.

It concentrates rather more on functionality and ease of use.

It believes a Robo Advisor is not expected to be aesthetically pleasing.

It is simply expected to do the job intended.

A Robo Advisor’s job is to make technology work for an investor.

Robo advisory platform of PersonalFN will help you;

Save for your child’s educational expenses

Save for your international vacation

Save for future wedding expenses

Save for anything you like

Investing on PersonalFN’s robo advisory platform will be  an easy 5-step process…

Complete the registration

Submit necessary documents to activate your investment account

Assess your risk profile

Get a recommended portfolio based on your inputs

Invest with a single click

More reasons why you should invest through PersonalFN’s robo advisory platform

It can help you reap you extra returns of as much as Rs 30 lakhs in 30 years. It recommends direct plans only.

It brings outstanding research experience of over 15 years. (Outperforming the BSE-200 index by 80 percent!).

It comes at a pocket-friendly price.

So do not miss out on the opportunity to grow wealth.

Start investing!

Stay tuned!

Long weekends are the best time to relax and rejuvenate. Isn’t it?

Most of us had the Good Friday – Easter long weekend.

Lazing around during the weekend, I wished for a robot to clean my house, serve me tea, and complete all my pending tasks so that I could sit on my sofa and binge on my favorite TV shows.

I am sure many wish to have an assistant to take care of their finances and investments.

Have you wished for such luxury in life?

Let me tell you, this is not far ahead. Yes, you read it correct.

Recently we’ve had robo-advisors capable of managing your finances.

What is robo-advisory platform?

A robo-advisor is a digital advisor that provides portfolio management and financial planning services online, without any human intervention.

Unlike a human financial advisor, you do not need to fix an appointment with robo advisor. You just need to log in to your account, submit your information, and your financial plan is generated in an instant.

The most beneficial aspect of this service is that it’s available 24x7 and without any behavioural bias.

With robo advisory, your mode of investing can shift from signing and submitting paper forms to simply entering a transaction password. Thereby, enabling you to save and invest in financial products such as mutual funds in an automated manner.

Robo advisory platforms are attracting people because they offer immense convenience. They track your investments more efficiently and generate automated rebalancing signals for you.

They help you to plan for you financial goals, enabling you to save and invest in an automated manner.

Globally, robo-investing is a buzzword these days.

There are four main reasons why robo-investing is gaining popularity:

Unlike financial advisors who often have discriminating policies for smaller investors, robo-investing platforms treat all investors the same.

They offer a reasonable level of customisation in portfolio construction at an affordable cost.

Robo-advisors construct an asset allocation strategy through a portfolio of mutual funds taking into account one’s risk appetite and time horizon to stay invested.

Since the portfolio construction and review does not involve human intervention, there is no room for speculation.

In other words, robo-advisory platforms are created to iron out the shortcomings of the financial advisors and investment consultants. As you will acknowledge, many times financial advisors fail to prove the value of their services.

They either charge you a fee and offer average advice, or charge no fee and provide biased advice that earns them huge commissions.

It is the investors’ loss, in either case.

Wondering, whether you should opt for a robo-advisory platform to invest in mutual funds, then read on the article to know if it is suitable for investor who:

Want To Save On Costs

If you are an investor who wants to save on cost of investing, then you must invest via a robo advisor.

For years, many save and invest by following the advice of a friend or relative who supposedly has sound financial knowledge. All that was just to save a financial planners fee.

Robo-advisors can lower costs, and therefore work out to be relatively cheaper than traditional financial planners.

An ethical robo-advisor will be cost effective and offer you mutual fund direct plans as an investment option. Over time, this will help you conserve an immense amount of money.

When planning your finances or investments, you may tend to ignore costs. Especially, when costs are mentioned in percentage terms, it may seem small and insignificant. However, it might cost you a big amount if you compound the benefit over the long-term.

Have Small Asset Size

With robo advisors, you can start with a small amount of investment. There is no mandatory minimum investment amount required from investors.

As you would know, only a handful of advisors and financial planners are keen to offer them services.

Otherwise, acquiring “High-Net-worth Individual (HNI) clients” is the primary objective for advisors.

Would you like to know what their rationale behind this is?

“All clients, irrespective whether they are HNIs or small investors, want top-quality services. As a result, servicing small investors becomes a loss-making proposition.”

There might be some merit in this argument, but only to a certain extent. It’s often said that retail investors in India don’t want to pay for services. This is a partial truth.

Does that mean low-net investors should be left out and HNIs are undeserving?

Certainly not.

Hence, robo advisory platforms are suitable for both retail as well as HNIs investors.

Willing To Take Informed Decisions

Many a times, individuals avoid investing because of a lack of knowledge. They do not know how to start investing and hence, procrastinate.

But if you are an investor who wishes to make an informed decision, then start investing via robo-advisory platforms.

All you need is to share the correct information to get customised advice, and you can always access it at any time.  Everything is possible just by one click.

Wish To Avoid Behavioural Biases

It is quite possible that a human advisor would be biased in his/her recommendations. But, robo-advisors act pragmatically and help you create a financial plan to achieve your goals.

That’s why robo-advisors are devoid of all the behavioural biases.

Looking For Convenience and Easy Investing

If you are looking for convenience in investing, then robo-advisors make that possible for you as well. Robo-advisors offer a user-friendly interface and a world of convenience.

You can manage your mutual fund investments from the comfort of your home or even on-the-go through a mobile application.

Everything from KYC (Know Your Customer) to redemption of mutual fund units is possible online.

Wish To Have Quick Investment Procedures

If you have been procrastinating to save and invest, assuming that it is a time-consuming activity, then you must invest via a robo platform.

Robo-advisors are algorithm-based platforms; they are likely to deliver plans, solutions faster.

Alternatively, investing with a traditional advisor requires you to meet the advisors several times, before coming to a final plan.

Can Do It Yourself

Now, if you do not like being dependent on anyone, then robo-advisors are best suited for investors like you.

With some basic and self-knowledge, you can execute your investment plan yourself. You can initiate the end-to-end process of investing yourself.

Just like you purchase goods from an e-commerce platform, you can invest in mutual funds too with these robo platforms.

To Conclude:

Robo-advisory platforms are for all the investors looking to make informed decision about their money matters. Someone who is ready to take the responsibility of his/her own financial freedom.

It is for all the investors who should get out of the comfort zone and explore the investment opportunities available at one click.

Let me tell you, financial planning and managing personal finance are not as complicated as it seems.

So, start investing with our PersonalFN Direct, a robo-advisory platform to be launched soon. Unlike the other models, we do not charge any indirect commission or per transaction cost.

Additionally, we intend to save your cost by offering direct plans.

You may feel that the cost difference between a regular and a direct plan is minute and can be ignored. But in the long run, this difference sums up to be a substantial amount.

With the start of new financial year, I recommend you start saving and investing in mutual funds via a robo-advisory platform. Do not fear, but plan for investments beforehand instead.

Watch out this space to know, for PersonalFN’s robo-advisory launch is around the corner.

Author: Rajani Vyas

It’s happened all across the globe, not just in India… Financial planners charged hefty fees and delivered little results. Investment advisers gave biased advice eyeing the high commissions. … Investors with nominal capital face another difficulty. As you would know, only a handful of advisers and financial planners are keen to offer them services. Otherwise, acquiring “High-Net-worth Individual (HNI) clients” is the primary objective for advisers. Would you like to know what their rationale behind this is? “All clients irrespective whether they are HNIs or small investors, want top-quality services. As a result, servicing small investors becomes a loss-making proposition.” There might be some merit in this argument, but only to a certain extent. It’s often said that retail investors in India don’t want to pay for service. This is a partial truth. If somebody ever wondered why the average retail Indian investor has been depending on friends and relatives for investment advice, it’s because professional advisers avoided him/her. Does that mean low-net investors should be left out and HNIs are undeserving? Certainly not. Technological innovations are helping address issues that concern both kind of investors . Robo-advisory platforms are likely to change the dynamics of the financial services industry in future. Does this mean investors are to trust machines more than humans? Not quite. Let’s not forget, behind any technology, there’s always a human brain at work. As it is in the case with robo-advisory platforms. In simple words, robo-advisory is the investment advisory service managed by software-based platforms that use human-made algorithms. Undoubtedly, robo-investing is a significant development that’s likely to work positively for investors. Here’s how…

Robo-advisory platforms offer more options to investors as well as to advisers. If it was uneconomical to serve the retail investor with the human-advisory model, robo-advisory platforms offer an extremely economical alternative to retail investors. Although robo advisers provide you with “programmed” advice, it’s customised to an extent, based on the response of the investors to an online questionnaire that tries to assess investment objectives and the risk profile of the client. In other words, the quality of the output (advice/recommendations) depends on the quality of inputs (investors’ question/enquiries). Therefore, if you are going to use the robo-advisory platform, you need to be careful while filling up the input sheets. The approach you follow while filling up the feedback form at a restaurant isn’t the same as filling up this form—you simply can’t be casual. As far as the investment advisories are concerned, they use robo-advisory platforms as an additional tool that helps blend their offerings. They automate the simpler processes and retain the human-advisory model for more personalised and sophisticated advice. This helps them add more value to their services and may lead to greater client satisfaction.

Robo advisers offer consistent and instant advice . Human financial advisers are human first and investment advisers later. A variety of events and developments affect them. For example, if your advisor is generally averse to risk, he/she will always discourage you from taking the risk, even if your risk appetite is high and your financial circumstances allow you to take the risk. Conversely, if your investment advisor is aggressive, he/she may sometimes encourage risks, although your risk appetite is low. Similarly, his/her response to your queries may differ depending on market conditions, business targets they may be working towards and your rapport with him/her. Unlike this, robo advisers offer you consistent and instant advice. Sure, they are developed by humans, these aren’t altered frequently. Their response is purely based on the quality of question/query you feed in. Robo-advisers won’t look at the market indices and advise you on your investments. The inherent quality of robo-advisers is that these discourage the speculative approach to investing. Similarly, they won’t be driven by any sales targets, and so won’t alter their responses with some hidden motives. And these days, instant advice is becoming popular. Whatever be the approach of investors, smart investors understand the nuances of investing and they know that it’s better to be patient rather than take any decision in haste.

Better record keeping At present, not all human-advisers offer a digital record keeping option to their clients. As a result, many a time, they as well as their clients lose the sight soon after investments are made. Timely evaluation of the portfolio is necessary. Robo-advisers make a significant difference here. They not only help you retrieve even the minutest detail of your investments they offer you a safe alternative to transact.

Things to remember before you use the robo-advisory platforms...

They are built as a standard response tool to the standard personal finance needs. If your situation is unique, you may still need one-to-one advice.

The quality of a robo advisory platform entirely depends on the understanding of the person/company developing it. If the developer or its associates are well-versed with the personal finance domain, the platform would be more effective and vice-a-versa. Therefore, before, you get hooked onto a robo-advisory platform, you must check who’s developed it and who’s going to run it.

Don’t forget to know, how the robo-advisory platform will earn for itself. If it offers you everything for free and earns through commissions generated on your investments that would be just a digital variation of existing flesh-and-blood advisers who are driven by high commissions. On the contrary, if it encourages you to invest in direct plans offered by mutual funds, and charges you a small fee for its advice, that might work as a real fee-only trustworthy advisor. If you need handholding or high level of customisations while preparing your financial plan, don’t hesitate to seek services of a Certified Financial Guardian, who is mark of trust and respect.

Last but not the least, please ensure, the robo advisory platform has invested enough time and resources in securing your data and privacy to avoid being into unpleasant situations.