Could you walk us through your journey? How did Investwell come into being?
Investwell is the result of our client-first approach to problem solving. With Bajaj Capital being one of our first clients, we started managing data regarding financial product distribution in early 2000’s.
With this, we observed the value we could add by communicating portfolio information in a clear and crisp way. Driven by the passion of our enduring team and steady fine-tuning by trusting fellow financial wizards-turned-clients, we set off on our mission of enabling financial inclusion for all through technology. Our goal was simple - to always deliver what improves advisor productivity so that they can in turn serve investors far and wide. Investwell has undergone multiple addendums and iterations since then but we feel we have just gotten started in transforming the wealth management space in India.
How does it help MFDs/RIAs improve their productivity at work? How will it make their business life simple?
Investwell serves as an all-in-one platform for MFDs/RIAs to manage and scale their entire distribution and advisory practice. As the trusted back-office solution for more than 2000 MFDs/RIAs, Investwell automates data management, reconciliation and reporting work away from them which earlier used to form a large part of non-value add work from an investor point of view. MFDs/RIAs can then use our middle-office utilities to carry out efficient asset allocation and portfolio rebalancing to fulfil needs of their clients. Last but not the least, we also help MFDs/RIAs with front office solutions that help them manage their brand and communicate with prospective investors using our end to end digital solutions like website and mobile apps.
In what ways is Investwell unique from other online platforms?
Investwell aims to provide a complete wealth management technology platform for MFDs/RIAs through our deep understanding and 20+ years of experience in this space. Although we continue to provide some industry firsts (like brokerage payout analysis and multi-exchange integration), we are known for our dependability and accuracy. We are known as the most reliable back-office software across the MFD fraternity and enjoy a unique place amongst the well established MFDs in the industry. We are also the only well known wealth-tech company that keeps abreast with the latest technology and user experience design to create consumer facing products so that the MFDs/RIAs can compete with the new age apps that investors are used to.
How can MFDs/RIAs meaningfully engage with their new clients, existing investors and team members using Investwell?
The investor journey on Investwell starts much before actual transactions are done. Using the full suite of our services offered viz. financial website, mobile app new investors can get to know more about the MFD/RIA and sign up to empanel with them. A prospective client can be activated by presentation of model portfolios and goal plans for them. The MFD/RIA can compare his model portfolios with the prospect’s current portfolio by importing consolidated account statement (CAS) files and creating detailed portfolio comparison reports using Investwell. MFDs/RIAs can send promotional, educational or informational emails to their investors using the email scheduler, WhatsApp as well as push notifications on their mobile app. What’s more, our power packed financial utilities like SIP/STP calculators, asset rebalance calculators come in handy when the advisor would like to lay impetus to his suggested investment theory.
Which devices (computers/laptop/iPad/ mobile, etc.) is this software compatible with? Also, would all its features be accessible irrespective of the device used?
Investwell Mint is a completely cloud based software. So it is available on devices of all shapes and operating systems through web browsers. It also comes natively on the Android & iOS app store to provide a truly mobile solution. Investwell Mint mobile app is provided for mobile access to all our subscribed MFDs/RIAs and their investors to view and transact. We also build white labeled custom mobile apps as an add on service. We currently maintain 500+ such mobile apps on Android and iOS App Store.
Could you also share the pricing policy? How much would Investwell cost?
InvestWell is available on a Platform-as-a-service (PaaS) model wherein we charge the subscribing MFDs/RIAs on the basis of the Assets under management (AUM). Starting from a base price of Rs. 25,000, we charge an additional Rs 1000 per every additional 1 crore of AUM over 25 crore. An advisor can choose to add multiple ARNs in the system as well. For that we charge an annual fee of Rs.5000 per additional ARN.
How much time does it typically take to set the software up? And what about a demo and training?
Just one day. We have automated processes to onboard a new MFD/RIA. We order and import the transactions, folios, SIP andbrokerage. Normally, we complete the process in one working day. We also provide complete handholding and training to our users.
What kind of support can MFDs/RIAs expect from Investwell during their day-to-day business operations?
We have a dedicated team of customer success professionals who are well versed with the mutual fund industry and have apt knowledge of Investwell software procedures. Besides, we also conduct weekly knowledge sessions through webinars every Friday where we cover a wide range of frequently asked questions, topics and elicit product feedback as well. Most of our product features have come from suggestions and ideas received from our users through our customers success team.
National Pension Scheme (NPS) will soon be available on the InvestWell platform. In near future, we will be providing option to invest in P2P platforms, domestic and US stocks also. We hope to continue with full vigour to meet the needs of our demanding clients and be the platform of choice for all distributors and RIAs.
