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Scripbox has launched a robo advisory app for direct mutual fund investors.
The company will charge Rs.299 per month. The new feature will offer financial planning, risk profiling, asset allocation, fund selection, portfolio review and more to direct plan investors.
Sanjiv Singhal, Founder of Scripbox said that the company aims to target the existing direct plan investors investing though new age platforms. He said that investors in direct funds lack access to expert guidance, this is a significant gap in the market which the company aims to address through the new offering.
Sanjiv believes that advice can help investors stay invested in mutual funds for long term. He said that investors often face challenges without proper guidance, leading to premature exits and suboptimal returns. Expert advice and financial planning are essential for improving outcomes and achieving financial goals for long term investors.
Studies consistently show that clients who work with financial advisors achieve better outcomes compared to those who do not. However, high quality advice is available only to high networth investors who can afford it. The app-based advisory is affordable and targeted at individuals aspiring to meet their families' goals by investing in mutual funds, said the company.
Scripbox currently manages AUM of over Rs.18,500 crore.
