Direct Mutual Fund Investment/advisory Portal Invezta is now live!

After MF Utility, Invezta is now the second direct mutual fund investment portal open for business. I think it is also the first private portal live.

What would it cost you?

A flat fee of Rs. 79 a month to be paid in advance for a year for investing alone.

A flat fee of Rs. 109 a month with same conditions as above for investing+ robo-advisory (personalized recommendations)

Investments up to 50K are free. That is first 50K is free.

You can reduce this fee by referring the platform to others (see website for details)

What is the registration process?

For those with a valid KYC, it is a fairly simple process of providing relevant personal information, nominee details with bank details and image of a cancelled cheque. I got myself an account and it took not more than a few minutes.

Website: Invezta

A demo is available. Here are some screenshots:

Invezta-1

Invezta-2

Invezta-3 What can do you with this account?

For new mutual fund investors, invezta is a pretty good fit. One can buy new direct mutual fund units from 11 AMCs (as of now) via SIP or lump sum and sell them.

Invezta-4

As of now we cannot sell our existing units via Invezta or buy more units in the same folio. The reason for that is, Invezta (unlike MFU) is a third party. They have a ARN code meant for registered investment advisers. They will not earn anything from our transactions as these are direct mutual fund plans.

However, in order for us to sell our existing units via Invezta, the portfolio has to be tagged to their RIA code. This means, we will have to give consent for such an association. Sharad Singh (CEO, Invezta) tells me that clarity will soon emerge on this aspect and this should be possible.

Extract from their FAQ:

How Can I transfer my existing holdings?

We are creating a process for the same.

However currently, if you are invested in Regular Plans of mutual funds, you can redeem your holdings with a broker / advisors and then do a fresh investments on Invezta. if you  invest directly with AMCs and want to transfer your holdings to Invezta, you can raise a request either by
Writing to us at “support@Invezta.com” OR
Raise a ticket online

Also, If we want Invezta to track the health of our portfolio, we need to give then access to your account statement. In a regular fund, our distributor has this access by default (why I never understand!). When we go direct with AMCs (incl MFU), they do not have this access or rather do not need it!!

When we wish to invest via a third party, consent to feeds or account statement is necessary. SEBI has laid down a process for this along with AMFI.

Comparison with MF Utility is inevitable!

For existing investors consolidation (if considered important) should be better with MF Utility and one can sell old units as well. However, one cannot register online (which is silly - a third party can do this, but AMCs can't!!)

The problem with MFU is that it, I am not sure if it has a carrot to evolve. AMCs do not want to antagonise distributors by promoting MFU among investors.

A third-party portal like Invezta has a lot of pressure and competition (portals like unovest, Bharosaclub, Oro wealth and e-commence sites) to perform.

All of them should have the same issue (RIA code tagged to folio) wrt existing folios.

Should you give this a try?

The registration process is way more simpler than MFU. The fee is flat  and not dependent on portfolio size. This is crucial because if it is dependent on folio size it becomes similar to a regular mutual fund.

The fee is more than affordable. I admire the intelligence and skills of its CEO, Sharad Singh. So I think, for new (or practically new) mutual fund investors, this is a pretty good option.

Existing investors who wish to add more units to existing folios or sell them will have to wait for clarity to emerge as to how Invezta can handle such transactions. In the meantime, maybe new investors could be referred to the portal.

Now the challenges for Invezta is to ensure first impressions are good.  Then word of mouth (ie Social medai) will do the rest.

For other details, consult their FAQ

As in any other portal there might be a hiccup or two. If so please bring it to the attention of Sharad Singh via Facebook group Asan Ideas for Wealth or you can leave a comment here. Knowing Sharad he will sort it out pretty fast.

Note:   I am writing this post on my own accord. I have no connections with Invezta or Sharad Singh.

I have said it once, I will say it again:  2016 is the year of the direct mutual fund

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20 thoughts on “Direct Mutual Fund Investment/advisory Portal Invezta is now live!

  1. Sharad Singh

    Thanks for the mention Pattu bhai.

    The objective is to make life easy for investors. We have just taken the first step and a lot of more features shall be added gradually to make it a seamless platform.

    Best Regards,
    Sharad

    Reply
    1. Sharad Singh

      HI Aakash,

      We have IPRU, DSP, Birla, Kotak, L&T, Reliance, MoST, Mirae, Quantum and Axis already live.

      In 1.5 months we should be able to cover all AMCs.

      Let me know if you need any more info.

      Regards,
      Sharad

      Reply
      1. Gautam

        Hi Sharad,

        Could you pleaes confirm if you have covered all AMCs by now ? or if not , how many are covered now and when is the expected date where all AMCs are covered ?

        Reply
        1. Sharad

          Hi Gautam,

          While we started with 9 AMCs, we have 17 AMCs now, covering almost all the top ones other than HDFC.

          We are close to having 2-3 more in coming weeks. Talks with all remaining ones is in progress and should be covered in 2-3 months from here.

          Currently we have IPRU, Reliance, Birla, SBI, UTI, Franklin, Axis, Mirae, Most, Religare, DSP, Kotak, L&T, PPFAS, Quantum, Tata and Canara Robeco live on Invezta.

          Best Regards,
          Sharad

          Reply
          1. Gautam

            Hi Sharad,

            Thanks a lot for your reply . I had tried to register an account for myself oin Invezta with holding type as "Joint". However, the option was grayed out. I immediately sent an email to your customer care to sort this out and it is almost 2 days and i have not got any reply from your support team.

            I never expected this kind of delay for such a simple issue and was outright unhappy . Even now i have not got any reply. My worry is that what will happen tomorrow if i need to contact you guys for any urgent information and i do not get any response for 3 days ? If there no contact number where i can reach out in case of any issues ? Is email the only mode of communication with Invezta ?

            For your information, email was sent to support@invezta.com . Just wondering if anyone is really monitoring all the emails ?

          2. Sharad Singh

            Hi Gautam,

            I am sorry for your experience.

            I consulted my team and they have found your email. They might have replied to the same by now.

            Unfortunately, the email landed in non-primary folder and didn't get the due attention. I apologize on their behalf and have suggested them to put measures in place to avoid this.

            Currently we have 2 modes of communication which are live and responsive:

            1. Helpdesk Ticket system

            When you login to your account, you can see a "Need Help" button at the bottom of the page. When you use that to raise a request, it immediately goes to our support team and they respond on all queries at the earliest.

            2. Support email (support@invezta.com)

            Both these modes are manned continuously during the entire working hours and intermittently during non-working hours.

            Besides, we have processes to monitor problems with the applications, issues with transactions etc. and our system alerts the team on the same. We pro-actively reach out to customers on any such event.

            We are working to create a dedicated call centre and once that is in place, we shall put the support number on our website. That shall make us more reachable.

            I personally monitor the customer support TAT (Turn Around Time) reports and customers who have appreciated our quick response times. At an average, we resolve all requests within the same day, if not within a few hours.

            Apologies again for the inconvenience.

            Best Regards,
            Sharad

    1. Puspendu

      This is great news for investors like us. But how do u earn money at the end of the day??? I am curious.......how can you provide me all the analytics, recommendation and services at less than 100 bucks a month? How do I trust that you will not close down after sometime and investors like me will be left running around with our investments?? Please convince me.

      Reply
      1. Sharad

        Hi Puspendu,

        I believe you also raised a ticket on Invezta and one of my colleagues might have spoken to you.

        Please let me know if anything is still unanswered.

        Regards,
        Sharad

        Reply
    1. Sharad Singh

      Your word is the command, sir.

      We had our first NRI transaction (from Middle East) a couple of days back. We helped create the account using helpdesk.

      Working on creating the UI for NRI registration. Should be up soon.
      Please feel free to mail support [at] invezta.com if you prefer not-to-wait.

      AMCs: Most major ones are live. (Franklin and HDFC are the only big ones remaining which should happen soon.)

      Regards,
      Sharad

      Reply
      1. freefincal

        Hi Sharad, sorry your comment went to the moderation queue due to the email. Did not see it until now.

        Reply
  2. amrut

    Hi

    I am a very small investor.. and i like to have more liquidity something like monthly income... how much capital is required so that i start ./

    regards,
    Amrut Vishnu Katwa

    Reply
  3. Arav

    Hi Sharad,

    I registered yesterday on your portal, and it said "we are awaiting for your folio number in BSL, DSP, ICICI...."what does that mean? Why can't I start investing immediately?

    Reply
    1. Sharad

      Hi Arav,

      Please go to the Transactions page (click Cart icon on top of dashboard page) and cancel the transactions under the Pending tab.

      You might have tried transacting and aborted the transaction midway. At times we do not get a confirmation immediately from PG and we have to wait 48 hours before transaction gets cancelled automatically.

      Hope this helps.

      Please raise a ticket using 'Need Help' button on the pages for quick revert as we monitor the tickets continuously.

      Regards,
      Sharad

      Reply

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