Markets

FYERS launches direct mutual fund platform

Our Bureau Mumbai | Updated on August 19, 2020 Published on August 19, 2020

Investors to save on third-party commissions and lower expense ratio of MFs

FYERS, a technology-focused stock brokerage firm, has announced the launch of its direct mutual fund platform, FYERS Direct.

The platform enables investors to save on distributor commissions of up to 1.5 per cent of the total investment per year. In keeping with its principle of no-client conflict, FYERS will also not get any trail commissions from the fund houses.

 

The mutual funds purchased on the platform will get credited directly to FYERS demat account, giving investors the convenience of accessing one portfolio across equity and mutual funds.

The platform offers retail investors various options across different mutual fund plans through a single window, thus making it simpler to compare and invest, said the company.

Bettering customer experience

Tejas Khoday, Co-Founder and CEO, FYERS, said investors through digital platform are more independent and prefer self-learning to seeking advice on financial matters.

They also prefer ease of use over complexity, something that has been made possible with tech-enabled trading and personal finance platforms.

As a policy, FYERS has kept away from offering any trade-related advice or tips and has always focused on bettering customer experience through tech integrations, innovations and products that can maximise their opportunity for wealth creation, he added..

FYERS currently enables about 50,000 customers to trade seamlessly across all major Indian exchanges, including NSE, BSE and MCX.

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Published on August 19, 2020
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