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Tech: New app helps we deposit smartly in mutual funds
- Updated: July 13, 2016
As we ascent a lives with newer mobile apps, it’s usually needed that a smartphone becomes a singular window to a digital and earthy worlds. Already, we do many tasks from a phones, be it shopping rations, profitable bills, tracking your child’s education, or formulation a investment.
Adding to this public of services is Fisdom.com, a new app-cum-website (available on Android and iOS) that offers programmed investing recommendations. Co-founded by investment professionals Subramanya SV, Ramganesh Iyer and Anand Dalmia, a app combines record with personalised recommendation to assistance we accommodate your financial goals.
What’s on offer
The app uses an algorithm to assistance we make a right investment choices along with personalised recommendations. Currently, a app comes with 4 pre-set options — Build Wealth (systematic investment plans), Save For A Goal (retirement, education, wedding, vacation), Park Money Safely (lump sum investments) as good as Save Tax (for tax-saving investments). Depending on your choice, a aim amount, age, and investment amount, it will pull adult a draft of a corpus we can beget (in pic, left). You get a choice to deposit usually in mutual supports or supplement holds as well. Following this, it offers a illusive list of mutual supports (or stocks) matched to your need. Minimum investment is set during Rs 5,000 for one-time investments and Rs 500 for monthly investments.
What we like
Fisdom charges no price for regulating a app or a services. Instead, it receives (like any investment advisor) a elect from a mutual supports companies. The app also offers a services to assistance we send your mutual supports hold elsewhere to Fisdom. And if we devise to disintegrate your investment in future, according to a company, a algorithm will assistance we make a best choice possible, with smallest losses. There’s a Fisdom consultant accessible to answer questions. Though, an online discuss support or a call-an-advisor choice would have been preferable, we perceived an email response within an hour — and with some really profitable inputs.
What we don’t
The mutual supports listed in any recommendation are few, and your investment volume is automatically distributed among them. Perhaps an choice to boost or diminution a volume would be helpful. Also, there are not adequate sum on a mutual funds.
The Guide verdict
Fisdom is a intelligent thought to assistance a tech-savvy era make investments. The makers contend that a app analyses chronological information to offer a list of mutual funds. But nothing of that information is accessible for users. Perhaps chronological graphs of net item value (NAV), a sum item hold underneath a mutual fund, or a opening over a years should have been done available. Without which, we might be blindly following an algorithm.
Also try…
FundsIndia.com
FundsIndia.com runs an glorious web use like Fisdom though with some-more sum on mutual funds, holds and bonds. They are also accessible as an app (on Android and iOS) and distinct Fisdom, we can call their investment advisors for clarifications.
Gullak and Expensify
Making a right investment is as critical as meaningful where we are spending your money. You can try apps like Gullak and Expensify to keep lane of expenditures. Both apps are accessible on Android as good as iOS.
Investing.com and ForexHero
Learn about unfamiliar sell trade from ForexHero (available on Android), and about a financial marketplace and how instruments like mutual supports and holds work from Investing.com (also accessible as app on iOS and Android) and Investopedia.com.
LOG ON TO Fisdom.com
Also read…
Technology: 4 apps for a intelligent financier (Read more)
App review: Master a batch sell (Read more)