The competition in the online mutual fund distribution space is heating up.
Motilal Oswal Securities has announced the launch of its robo advisory service called TIP (Target Investment Plan) for investors. TIP uses algorithmic model to understand client’s requirements and future goals to make suggestions on investment portfolio.
The company press release says, “TIP is an innovative product in the broking industry that offers end-to-end solutions, from goal profiling, recommendations, registration, investment, tracking and portfolio re-balancing. This tool is for mutual funds and can be accessed from Motilal Oswal’s mobile and web platforms 24X7.”
The main differentiator of this product is that it allows user to opt for dynamic investment plan instead of the regular SIP plans. Unlike SIP, dynamic plan considers market volatility while investing for the goals. The tool will also provide automated-balancing suggestions while keeping track of the goal progress. For example, if user invests Rs. 5,000 every month, and the value of that investment appreciates to Rs. 5,500 the next month, the system would deduct only Rs. 4,500 from the client’s account. If it depreciates to Rs. 4,900, it will invest Rs. 5,100.
Ajay Menon, CEO- Broking & Distribution, Motilal Oswal Securities, said, “Nowadays, investors are more evolved and knowledgeable. They seek simplified financial solutions from anywhere, anytime. TIP is built upon our commitment towards differentiated and superior user experience which uses artificial intelligence to provide a personalized guidance.”
