Algorithm-based predictive financial advisory services are taking India by storm. FinTech organizations offer several financial services through their Robo Advisors. Pre-fed data via surveys and information forms are used for a simple algorithm-driven advisory, which recommends the right investment for a specific portfolio. In a further sophisticated format, the applications are AI-driven. They include numerous data points like personal information, historical financial information, social media activities, etc. of the investor to share somewhat highly customized investment options.

Here’s what Robo Advisory offers

In India, we still bank on simple algorithm-driven Robo Advisory. The benefits of Robo Advisory in India are:

· Affordable - Zero cost for advisory

· Accessible – 24 by 7

· Customized – Based on pre-fed data

· Full Control – Investor controls the portfolio

We know the nature of our financial markets is cyclical, and in the investment domain, the statement ‘human emotions play up at the wrong time’ unfortunately stands true. For seasoned investors who are well-versed with the ups and downs of the investment world, their immunity to volatility enables them to stay focused and not get entangled in their emotions post losses.

For such investors, Robo-advisory is a perfect fit; it gives them the freedom to make their own decisions based on their experience and insight.

How are Financial Advisors Beneficial?

For those of you who are unfamiliar with the varied investment instruments, who invest for the sole purpose of saving for future financial goals. Furthermore, for those who do not have time to follow and learn the ropes of investing, your investments are best secured in the hands of a financial advisor. Besides, with the Best mutual fund software for IFAs, they are at the top of their game now. Here’s checking their key attributes:

· Knowledge – Adept at market experience beyond the scope of Robo-advisors

· Personalized – In-depth personalize approach based on investors set goals and objectives

· Holistic – Holistic approach based on a deeper understanding of investors risk capacity and emotional acceptance

Certified, adept, and well-informed advisors work to benefit you, keeping aside their gain. They are competent, proficient, and resistant to the erratic nature of the markets and safeguard your investments to ensure you reach your financial goals. An advisor can protect you from irrational exuberance that could negatively affect your savings in the long run.

In Conclusion

As I emphasized earlier in a previous post, “Financial planning is a skill. And, you can only get more from investing in a skill.” The advisory that comes at zero cost today also comes with its limitations. Advisors today understand the power that technology has to offer and have begun equipping themselves with the latest trending technology to enable them to serve you better.

So then, my question to you is, why be penny wise and pound foolish?

By Rajan Pathak, Co-Founder & MD, Fintso

Rajan is known for his in-depth insight into the financial entrepreneur’s venture with 25+ years of establishing various B2B businesses, which gives him the edge and adeptness to scale the advisory business.

As the CEO of IFAN Finserv (formerly ING), Rajan managed a team of 40+ people, created a wide network serving 1300+ Independent Financial Advisors managing assets over $500 million.

Find out more on our website or Rajan's LinkedIn