A recent survey by IDFC Mutual Fund shows that 87% of respondents want some kind of guidance to invest in mutual funds. Such a guidance can come from any distribution channel be it IFAs, robo-advisors or RIAs.
Of the 495 people surveyed, 87% of the respondents felt that receiving personalised investment advice is extremely important, as it helps them invest as per their risk appetite.
The survey further said that most investors who invest in direct plans prefer investing through mobile phones. However, they said that security is the major cause of concern in executing such transactions.
An IDFC MF press release states, “Over 94% of respondents indicated that the security aspect of financial transactions is the biggest concern when investing online. Meanwhile 78% of respondents highlighted the ease of transaction, especially the ability to invest from their mobile device, as a key aspect for choosing a fund house.”
Highlighting the need for mutual fund houses to evolve their customer interface, Vishal Kapoor, CEO IDFC MF pointed out, “In India, financialisation crossed the 50% mark as people have realised that traditional investment avenues such as real estate and gold have not been as rewarding as the opportunity from capital markets in general. They have also understood that mutual funds are a very efficient way to pool in capital and channelise the investments creating a win-win-win for everyone. However, there is still a long way to go, as ensuring that these individuals can have access to investment avenues on the go, has been a challenge. The solution is now at hand with the digital adoption and usage trends in India indicating that internet has become more accessible.”
In conclusion, Vishal said, “Mutual fund houses that adapt and provide simple and easy to use platforms along with personalised investment advice will stand to benefit from the growing investor base.”
