How to invest in mutual funds through WhatsApp?
Mutual Funds have become a popular investment option, especially after Modi's drive to stimulate the economy. In the last few years, he has undertaken several steps to make the process stress free by the introduction of several initiatives like Aadhar card, KYC norms, online payments, and much more. Now, here's good news for the investors, one can invest in mutual funds using popular messaging option WhatsApp. Right now, it is being offered by a few investment houses and investment platforms and one of them is Motilal Oswal.
How to invest?
Please Note- It is important for the investor to complete the KYC formalities, before investing. Otherwise, they will not accept your PAN number for the transactions, as it happened in my case.
Well, apart from Motilal Oswal, there are various investment platforms that are offering such services. Wishfin.com is one among them. It is an AMFI registered distributor, which means the investor, has to pay commission on his investments through Wishfin. They will provide you limited fund choice options- tax saving, short-term saving, long-term wealth creation to select from. Rest, the procedure will be the same.
Should you invest?
These automatic bots will phase out the need for a manual mode of investment. But, choosing the right fund is also important. You can research and seek professional help or alternatively, you can talk to financial advisory services. The only limitation is these automatic bots are not backed by human advisory services that are effectively required to communicate with the customer. Rest, this technology will improve the speed and convenience of doing the transaction.