It solves complex problems that ail the industry today, i.e., Relationships, Profitability, Scalability, Retention & Behavioral Investing
New Delhi (India), March 4: FinEdge, one of India’s top digital wealth management and goal-based investment companies, has been bridging the “investment gap” in the financial industry with its distinctive proprietary platform, DiA (DreamsintoAction), serving as a beacon for investors to navigate choppy waters. With DiA, the company is revolutionising the investment management landscape of India by addressing the five-pronged, complicated issue that currently plagues the sector—Relationships, Profitability, Scalability, Retention, and Behavioral Investing.
Today, many young adults are experiencing stress when it comes to taking responsibility for their finances and planning for the future. This is because most people lack the skills, knowledge, and confidence to do so. Despite this, the post-pandemic period has witnessed an unprecedented surge in unadvised investing in speculative assets like futures and options, crypto and speculative share trading, and even direct plans of mutual funds, which eventually leads to the erosion of their hard-earned capital. Investors are now waking up to the importance of the management of investment behavior to create wealth. Considering this, FinEdge built DiA.
DiA is a one-of-a-kind investing platform that is disrupting the way people approach their financial goals. This investing platform is based on the innovative concept of “co-browsing” for goal planning and ongoing investment management. It keeps the investment manager at the heart of the proposition, and instead of handing the steering wheel over to the client – it enables investment managers to deliver live, collaborative, and customized experiences for every client at every step of their investing journey. This approach addresses a range of problems faced by the industry, including how to keep clients aligned with their financial goals over the long term, through life events and market cycles. Unlike most wealth management alternatives, which are often simply goal-setting exercises designed to sell products, DiA brings clients and investment managers together for conversations whenever transactions or life events occur, ensuring that goals are kept top-of-mind and that investment decisions are aligned with those goals.
Speaking about the benefits of DiA, Harsh Gahlaut, CEO of FinEdge, said, “While building this platform, we understood that investing cannot be learned in theory, and investors typically do not do very well over the long run when they are unassisted. Joint & informed decision making is critical along with process, discipline, convenience and the management of investing behavior. FinEdge & it’s DiA platform are unique in providing all of this – wrapped together in a single platform. FinEdge, through its unique business model and ability to scale, is now on the path to create a generation of better investors who have a much higher chance of creating long-term wealth. We aim to become the largest digital wealth management company in India in the years to come”.
FinEdge’s DiA business model works on four major parameters:
Relationships: DiA helps in building exceptionally strong relationships with clients through hyper customization, inbuilt algo’s track client engagement, client relationship scores and multiple parameters to strengthen relationships and is a guide for advisors to manage relationships better
Scalability: This platform ensures uniformity in the quality of advice, provides quick learning for new investment managers, and being a virtual collaborative platform replaces physical meetings and allows infinite geographical reach leading to the ability to scale up quickly and infinitely
Retention: DiA as a platform ensures that clients become “goal focused” rather than “returns focused” by working as a catalyst for building trust by increasing perceived value addition to clients and provides tools for audits and check to ensure quality and process sanctity. One of the major reasons for client attrition is the break in their investment journeys due to market cycles. This is where FinEdge’s ability to manage behavior plays a pivotal role.
Profitability: DiA allows seamless digital transactions, reporting and investment management and ensures complete wallet share of the client and drastically reduces attrition. DIA is 100% digital with zero paperwork from the onboarding stage till throughout the client journey and allows investment managers to leverage relationships to generate referrals and drastically reduce the cost of acquisition. While the business model is retail focused, profitability comes from scalability and infinite geographical reach.
FinEdge came into existence to solve the core problem of the “investment gap” in India. FinEdge was among the first in the country to deploy digital financial planning as a business model. The company has remained steadfast in their core belief that technology alone (without human expertise) cannot solve the behavioral problems related to investing – and therefore cannot lead to long term wealth creation.
About FinEdge
FinEdge came into existence in the year 2011 with an aim to solve the core problem of the “investment gap” in India. It is a tech-enabled wealth management and goal planning platform. The platform is the first in the country to deploy digital financial planning as a BIONIC business model. FinEdge ensures that they reach demographics and geographies, provide a convenient, low-cost – high-quality, process-driven, goal-oriented, wealth creation platform to their clients. By Keeping their objective of ‘Investing with Purpose’ at the center of their strategies, they have created a vast network of clients across 76 countries and 1200 cities.
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