Chennai August 11, 2024: Scripbox, India’s leading mutual fund app, today announced the launch of investment advisory services for direct mutual funds. Historically available only to high net worth individuals (HNIs), these advisory services are now accessible to all customers via the Scripbox App for a monthly fee.
“Investors in direct funds lack access to expert guidance, this is a significant gap in the market which we are addressing with our app,” said Sanjiv Singhal, Founder of Scripbox. “Our digital app provides personalized financial planning, risk profiling, asset allocation, fund selection, portfolio review – end to end high quality advisory services – for investors in direct funds. This is what we do best—helping our customers meet their long-term financial goals.”
Scripbox App is the first to bring high-quality advisory services to investors in direct mutual funds. This launch is part of Scripbox’s mission to help a million families achieve financial freedom. Investment advisory services are provided by a wholly owned Scripbox group company – Mitraz Financial Services Private Limited (SEBI Reg No. INA200001041).
Scripbox’s track record underscores the importance of high-quality financial advice. The company’s recommendations have outperformed in 9 out of 13 periods, with initial wealth of customers growing 35 times since inception. Customers who started with an investment of ₹3 crores in 2013 now see their wealth valued at ₹106 crores.
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 net worth investors who can afford it. Scripbox App based advisory is affordable and targeted at individuals aspiring to meet their families’ goals by investing in mutual funds. Scripbox leverages advanced technology to deliver high-quality, personalized advice at scale. By using sophisticated algorithms and data analytics, Scripbox can provide tailored recommendations that match each investor’s unique financial goals.
Investors often face challenges without proper guidance, leading to premature exits and suboptimal returns. Data from the Association of Mutual Funds in India (AMFI) as of June 30 highlights this issue: 15.6% of equity assets do not stay invested for more than six months; 10.9% stay invested for 6-12 months, and 22.2% stay invested for 12-24 months.
Scripbox has always led with comprehensive advice to help customers achieve their long-term financial goals. With the introduction of investment advisory services for direct funds, customers now have the choice to invest in either regular funds, where Scripbox earns a commission, or direct funds for a monthly fee. This subscription-based advisory service for direct funds ensures that investors receive continuous, real-time financial planning tailored to their evolving goals, providing them with the expert guidance they need to make informed investment decisions.