India is expected to be the fourth largest private wealth market globally by 2028.

- Global Wealth Migration Review

India benefits from a large cross-utilization of channels to expand the reach of financial services. It depends heavily on the robust banking and insurance sector for the same. But, the widespread geography, fragmented ecosystem of the Indian financial market along with the lack of financial literacy amongst the masses complicates the seamless distribution and conversion for financial products. Lack of reach and awareness are barriers that the product manufacturers are facing today.

Take the example of the Mutual Fund industry; in India, the upper-middle class households with disposable incomes make up approximately 6.1 crores of the population, while a mere 2 crore of them choose to invest in Mutual Funds. [1] There is a huge opportunity here but, the MF industry recognizes the high cost of acquisition involved in setting up independent distribution networks and hence depends on existing networks of the IFAs, RIAs, Banks, etc.


While banks and insurance sectors have a wide network and reach, they lack the expertise and knowledge that the advisory domain possesses. Trust is the bedrock on which advisory is built and is a key competency which financial advisors need to learn; that is, in addition to expertise and sound market advice. Advisors possess the capability to build positive investor experience and gain insight into investors, like cognitive empathy and behavioral biases that technology may not grasp.


Technology can be an enabler, but in the Indian story, there is a twist. Post demonetization in 2016 the urban Indian population turned tech-savvy and to digital modes for financial transactions. Unfortunately, lack of knowledge and awareness left most of the B30 cities in the dark. As far as financial literacy is concerned, low penetration and lack of product awareness along with risk factors raises the absolute need for advisors to step-in and hand-hold newbies.


Financial literacy is the need of the hour to rope in the capable yet missing chunk of investors. Basics of planning and financial guidance are all it will take. A variety of FinTech startups are aiming at easing the process and assisting savvy investors to trade and invest directly into the markets, but the complexities in understanding the market and its allied financial products make it complicated. There is a lack of low-cost high-quality financial education platforms, structured and accessible insights and reports and robust communication for insights that can educate inclined and willing investors.


Advisors today have the out and out support of technology-based services that can provide them all the comprehensive assistance they need. Fintso’s robust wealth management software weave together the financial ecosystem of advisors, manufacturers and vertical aggregators to create a virtual omnichannel to bring efficiency to advisory. Through this platform advisors will have complete access to a wide range of products available in the market along with the technical backing of intelligence to link the right set of products to the investors based on their unique needs. This comprehensive tool ensures advisors are backed with technology to efficiently service the client while focusing on deepening relationships and providing a seamless experience for clients, all while technology lifts the weight of BAU activities from their shoulders.

The key roles of an advisor are to advice, coach and lead his investors. The dependency on financial advisors by product manufacturers and vertical integrators is a two way street, both for distribution of their business and crucial on-ground insight to help them create custom preferred products.


Financial Advisory is an acquired art and financial advisors today are grappling with the volatility of a market hit by a pandemic. Sailing through this period is their biggest and toughest test. However, equipped, as they are, with the best mutual fund software for IFAs, they are expected to successfully mitigate the impacts of the present economic slowdown faster than ever.