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  • News From Press ETMoney offers 1.7cr investors option to change mf plans on app

    ETMoney offers 1.7cr investors option to change mf plans on app

    Source: Economic Times Oct 12, 2018

    ETMoney, the largest app-based seller of financial products, is offering 1.7 crore mutual fund investors the option to convert their existing plans on its application, which it says will lead to savings on annual commissions they are currently paying. 

    The financial products platform, which has over 40 lakh users and generated over 2 crore investment orders within barely two years of its launch, has already converted mutual fund investments of Rs 150 crore for existing users into direct plans leading to savings, according to the company’s chief executive officer Mukesh Kalra. 

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    1 Comment
    VARSHA HARSHAD DOSHI · 5 years ago `
    Mr. Mukesh,
    Mutual Fund is beautiful product and still hugely untapped market, and we expected Ppl like you who has money and capability to expand this exponentially to get all those unserved to mf industry their by expanding mf reach to masses but what u are doing all existing customer which are brought in by MF distributor over a period of 25 yrs and u want to convert them to direct that's it which is easiest way to get business but it also show how incompetent is your thought process where u are not looking to put any efforts to expand business but someone else effort just shifting to your business
    Also with lots wrong advertising
    Save upto 1.50% how many schemes has this much difference between direct and regular hardly few which can be counted on fingers but real data is average difference between regular and direct will be between 0.40-0. 60%, if u put this whole game change
    Another point is you taking into account 15% Return to get this projection where as if u do asset allocation debt equity etc. Return will be 10-12% so again difference come down
    3rd you are projecting 25 years but as per study everage holding period of mutual fund in India is 15-18 months than its just a marketing gimmick yet project 25yrs its not LIFE INSURANCE where Ppl invest for 20-25 yrs without stopping investment

    All in all you are trying to get existing business that too without giving without true facts and only through marketing gimmick. You may continue doings so as no one will stop u to do and you may earn huge valuation too in future for acquiring lots of client and their data to exploit as otherwise free services can't earn u anything and definitely you are not here for good of society and that's evident from your easy way of getting clients hard earned by MF Distributor
    but I just want to know being an entrepreneurs u real get pride in doing business this way?? also do u real feel you have done any differentiating thing in life or innovation?? , do you really sleep every night with fulfillment of achieving something great?? , by doing business the way you are doing I think answer are no but it's your choice of pursuing your business. Wish all the best
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