Last Updated on January 28, 2024 at 10:59 am
It is raining direct mutual fund investment portals! First MF Utility Online platforn went live. Then we heard of Invezta, Unovest (launching soon), BharosaClub(open) and ORO Wealth (went live last week). More are in the works!!
Here are the details of ORO Wealth portal along a comparison of its features with MF Utility, Invezta and Bharosa Club.
Please note: This is provided by way of information only. I am not associated with any of these portals. My opinions about each of these portals are not biased in any way. Please do not subscribe to any portal unless you are sure it will be of use to you.
ORO Wealth operates via MF Utility. That is, a subscribers requires a valid common account number (CAN) from MF Utility. Bharosa Club also operates this way. My understanding is that both portals can get you a CAN number if you upload id proofs and courier a signed form.
Join 32,000+ readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email! (Link takes you to our email sign-up form)
🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥
Operating with a CAN enables an existing mutual fund investor to consolidate past holdings.
In response to my email, they said they went live last week and have about 500 subscribers registered.
Fees:
Since it is connected to MFU, you and transact in up to 12 mutual funds in one shot.
For each such transaction, you need to pay Rs. 50.
Buying is a different transaction from selling or switching (not possible directly from MFU).
For each SIP/STP/SWP (not yet in force) a fee of Rs 25 will be charged.
According to Taqiuddin (comment below)
According to ORO
Regarding SIP transactions, the charges of Rs 25 are for a monthly SIP mandate, that is we may add multiple funds in a monthly SIP mandate. So one would be paying Rs. 25 per month even if he is investing in 6 different mf’s in every transaction.
All transactions are free until 29th Feb. 2016.
Is this cheaper than Invezta where you need to pay Rs. 79 a month flat fee? Depends.
For those who wish to invest manually, two buys made on different dates will cost Rs. 100 a month. We cannot always guarantee that we will make all transactions on the same day. For those who buy on dips, Invezta is cheaper.
ORO Wealth will soon be lauching robo-advisory services which will be have a separate fee.
They have a mutual fund screener which I dont think much of. It is quite crude. Hopefully it should improve.
Should you choose ORO Wealth?
New investors: I think Invezta is easier to get started for new investors who do not have a CAN.
If the investment size is low, once a month, with under 4 SIPS, then ORO Wealth is a bit cheaper than Invezta.
Why can’t I just get a CAN and invest free via MF Utility? Why not indeed!
Old Investors: The above question makes a lot of sense to old investors too.
The only add-on wrt Invezta and ORO Wealth is the robo advisory. I cannot comment on which is better and I think it is safe to assume that they are equally good until proven otherwise.
MF Utility vs Invezta vs ORO Wealth vs Bharos Club vs Unovest!! (click to expand)
Note 1: Bharosa Club requires a Rs. 100 set up fee “and after April 2016 will charge 0.1 % of the AUM only if it crosses a lakh”
Note 2: I keep forgetting that one can invest in direct plans of DSP Blackrock, ICICI, Birla, PPFAS & LnT MF through MyCAMS (thanks Anil Angadi – comment below)
My take:
New investors
If you require freedom to choose any direct fund from a single portal, use Invezta.
If you dont care, invest via AMCs directly.
If you require fund suggestions then pay for robo-advisory in Invezta.
Old investors
If you require freedom to choose any direct fund from a single portal, plus consolidation of old holdings, choose MF Utility. It is free and its efficiency will limit that of the other portals which depend on it (ORO, Bharosa, Unovest?)
If you dont care, invest via AMCs directly.
If you require fund suggestions check if robo-advisory fees alone can be paid in Invezta or ORO Weath (I dont know about this). This way you get automated advisory and can invest via MF Utility or via AMCs. Of course, this applies to new investors too. My guess is that this will not be possible 🙂
If you are not certain and would like to wait and watch, invest via AMCs directly.
Please note: I have done my best to ensure the information provided above is correct. Please check with the individual portal before deciding. Will update this post as and when more details become available.
Links to Direct mutual fund portals:
Invezta
What do you think? Will invest in such a portal?
🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 7000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! ⇐ More than 2,500 investors and advisors use this!
Track your mutual funds and stock investments with this Google Sheet!
We also publish monthly equity mutual funds, debt and hybrid mutual funds, index funds and ETF screeners and momentum, low-volatility stock screeners.
- Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
- Have a question? Subscribe to our newsletter using the form below.
- Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.
Join 32,000+ readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email! (Link takes you to our email sign-up form)
About The Author
Dr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course! Increase your income by getting people to pay for your skills! ⇐ More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our new book for kids: “Chinchu Gets a Superpower!” is now available!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Do you want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & its content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our YouTube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing
Published by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
This book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.Your Ultimate Guide to Travel
This is an in-depth dive into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically, with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)