frequently asked questions
ManageMyFortune.com is an online wealth management service for individual retail investors like you. We provide you an end-to-end wealth management service by connecting you with the best investment advisors in the country. ManageMyFortune is selected as a part of Top 10 Fintech companies by Startupbootcamp Fintech - a global Fintech accelerator. It is part of Startup Leadership Program(SLP) 2017 Mumbai.
- Simple to Use. Investing is not easy and complex by its nature. We have tried our best to make things easy for you.
- Competent Investment Advisors. Choice is with you. You want a human advisor, with experience and who you can talk to – you can select one. You want a Robo Advisor, which is a computer program. The choice is yours.
- Choice of Assets. You are not restricted to only Mutual Funds. You can also buy/ sell equities, ETFs, bonds – anything which is recommended by your Investment Advisor.
- Trust and Accountability. Performance-linked Fees ensure that the Investment Advisor always has your best interests in mind.
- Sign-up for Free on http://www.ManageMyFortune.com and generate your customized Financial Plan
- Complete online form to open Demat & Trading Account with our partnering broker
- We will courier the form to you; you sign and return to us with supporting documents
- You select a SEBI Registered Investment Advisors or Robo Advisor
- Investment Advisor/Robo Advisor recommends Investment Portfolio
- You execute Trades in your portfolio with a few clicks
- Track your portfolio performance and pay performance linked fees to Advisor
We recommend Rs 1 lakh to realize full benefits of your investments. At smaller amounts your investment horizon is restricted to a few mutual fund schemes. You will be able to buy good quality stocks only when the investment corpus is higher. However, you can open an account with as low as Rs 10,000.
Who is a SEBI Registered Investment Advisor? How is he different from the person who has been advising me on my investments?
An individual or a corporate who has 5+ years relevant Investment Advisory Experience and has cleared Investment AdvisorLevel 1 & 2 exams or a CFA or a CFP charter holder certified by SEBI as RIA. Your current financial advisor is most likely a distributor of mutual funds. Distributors of mutual funds earn up to 1% commission when he makes you buy a mutual fund and about 0.70% every year you continue to hold that mutual fund. His incentive is aligned with the first sale and he has no incentive in the returns generated for you if you continue to hold on to that mutual fund.
Typical Investment advisory fees comprise of 1%(range 0% to 2%) of invested amount as management fee and/or a performance fee of 20% (range 0% to 25%) of profits exceeding 12% (range 5% to 15%) returns. You can negotiate fees with your selected Advisor based on the amount invested and investment horizon. e.g.
|Description||Units||Mutual Fund Disributor||ManageMyFortune|
|Investment Value After 1 Year||Rs||114,000||118,000|
|NIFTY Investment After 1 Year||Rs||112,000||112,000|
|Profits exceeding 12%||Rs||2,000||6,000|
|Performance Fee as % of Profits||%||-||20%|
|Mutual fund commission||%||2.50%||2.50%|
|Proportion of Investment in Mutual funds||%||100%||40%|
|Total brokerage + commission paid||Rs||2,500||1,270|
|Investment Value after deductions||Rs||111,500||115,730|
- Robo Advisory is Free during the trial period. Post trial only a performance fee will be charged.
- Broking charges for equity is 0.30% and for mutual funds it is the commissions charged by the mutual fund company (up to 2.5%).
- Annual demat charges of Rs 500 for 1st year are waived for Lead Customers.
- We have partnered with a leading broker Geojit Financial Services who have over 7.5 lakh customers for trade execution. So you get the full advantage of the support and infrastructure of Geojit when you invest through ManageMyFortune.com.
- Your securities and cash remain secure in your own demat account held in National Securities Depository Limited (NSDL) via Geojit Financial Services. Neither ManageMyFortune nor the Advisor has control over your money.
- You have 2-factor security to log in to your account, which is the strongest industry practice. You control the execution of trades related to the investment advice by entering a trading password. In short, all the security controls are in your hands.
- Our own server is hosted in a leading datacenter in India protected by an industry grade firewall.
Trade Execution Related
No. We need to open a NEW demat & trading account to help you buy and sell online based on investment advice, which is not possible if we connect to your existing demat account unless it is with Geojit.
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