The recent Policybazaar advertisement starring Akshay Kumar has reignited the discussions around direct plans. SEBI had allowed fund houses to launch direct plans in 2013 to provide do-it-yourself (DIY) investors to save cost. While direct plans are lighter on the pocket, promoting direct plan to be the best way to invest can be misleading.
Against this backdrop, Edelweiss Mutual Fund is set to launch a campaign titled ‘Advice zaroori hai’. The campaign will feature a series of videos highlighting the need for expert financial advice. The first video in the series calls ‘advisors’ financial doctors. The video portrays a typical household scene where the couple is visiting a friend. Typically, the host serves the couple mouth-watering snacks. While the husband is tempted to have a jalebi, the wife subtly stops him from doing so. The premise is that, just as we heed our family’s advice to safeguard our physical health, a financial expert is necessary to take care of our financial health.
Edelweiss Mutual Fund’s rationale for this campaign was to highlight the need for financial advice. During their interaction with investors, the Edelweiss team observed that many investors did not have the knowledge to select a scheme for investment. Moreover, they were unable to judge whether the investment would suit their portfolio. The team realised that while direct investing is cost effective, it is not for the masses. Only mature investors having long-term investment experience should attempt it. Amateur investors may be better off investing under the guidance of an expert advisor because the cost of wrong investment can be very high, observed the team.
“We need advice in all spheres of life, be it health or wealth. To convey this message, we are conducting a digital co-branding campaign. We have partnered with select 200 advisors across the country who will help us reach the message to their clients,” says Radhika Gupta, CEO, Edelweiss Mutual Fund.
Under this campaign, advisors will explain to their clients the crucial role that expert financial advice plays in building and growing their portfolio.