To avail of such a financial advice and service, all an intended buyer needs to do is open an account with the mutual fund distributor providing the service and specify his/ her financial goal. Other details required to be entered by you include basic details plus the tenure in which you expect to realize the set figure. Further, for seamless transaction per se purchase of mutual funds, the distributors require buyers to have a net banking account so that funds could be easily transferred across.
With a major play by I-CAN Financial Solutions, Scripbox and FundsIndia.com in this area, many new players are likely to enter the space witnessing its competitiveness in the mutual fund industry. With no fees and service delivered on the basis of proven-track record, such customer-centric channel in the industry can enable investors to realize their set financial goals.
Online distributors offering bundled mutual fund schemes - For whom?
Such online mutual fund service providers are mainly targeting at individuals who are new to mutual fund investing and have considerable time frame for investment. Further, such distributors cater to investor class who do not wish to spent on hiring a financial adviser or planner. So,investors can purchase mutual funds through this route if they have requisite Internet acumen. However if you have clear idea with no doubt regarding your mutual fund investment decision you can skip the service of these online mutual fund distributors.
How do these online MF distributors operate to help you realize your financial goal?
With a regular monitoring, such distributors prompt you to change your asset allocation and investment scheme as and when required keeping in view of the customer's long-term financial goal. Also, it does not allows an investor to work on the basis of his impulses.