Recently, a neighbour who was planning his retirement, decided to start investing money in Mutual Funds for the very first time. He had been hearing a lot about mutual fund investments over the past few years, and wanted to park some money in a good fund.
However, since this would be his first time investing in such a financial instrument, he did not know how to select the right mutual fund for his needs. Further, he was unsure of the difference between the various funds.
His children were equally unaware about how to invest in mutual funds. But, since the entire family was positive about this investment instrument, they were keen on going ahead.
Next thing, this enthusiastic neighbour called his trusted bank and requested assistance with investing in a good mutual fund that would suit his age, income, and financial goals. The bank cooperated and sent an investment advisor to his residence to explain to him the ins and outs of mutual fund investments.
Naturally, this first-time investor had a lot of questions and he had to set up multiple meetings to really understand which mutual fund would really work for him. After more than a month of pondering and wondering, he decided on a fund with the investment advisor’s help.
Then came the most dreaded part of the entire investment process — Tedious Paperwork.
A lot of documents had to be collected, photocopies had to be made, the bank mandate had to be understood and reviewed, and many signatures followed. This paperwork took up another week.
By the time the actual investment was made, this first-time investor was overwhelmed by the complexity of the process, and most of his enthusiasm had faded.
Over the next few months, a small amount was auto-debited from his bank account every month, and invested in his chosen mutual fund in the form of an SIP. Even though he received a monthly statement, keeping track of his investments on a daily basis was not easy.
Because his investments were growing significantly, a few months down the line, he wanted to start investing money in a few more mutual funds. However, he put it off for later, to avoid dealing with the tedious paperwork.
If he had had access to a user-friendly, interactive smartphone App such as Tarrakki, he would have been able to make investments in multiple mutual funds at the tap of a few fingers, without having to deal with such a lot of paperwork.
How would he select the right mutual fund?
Not only does the Tarrakki App enable investors to invest PAPERLESSLY in mutual funds, it also provides first-time investors with a Free Risk Profile Assessment, followed by EXPERT MUTUAL FUND RECOMMENDATIONS based on the investor’s risk assessment and individual financial goals.
The Tarrakki App is replete with informative blogs on subjects related to mutual fund investments, equities, wealth management, and more.
Someone who has never invested in mutual funds before, would find the Tarrakki App extremely easy to use, and very engaging as well.
Sounds like your kind of App? Found this information interesting? Share it with your friends.