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WealthTrust, a financial technology start-up, has launched its zero-commission wealth management app. The app allows investors to invest in direct plans of mutual funds of 25 fund houses, where no commission is paid to a distributor.
Investors with an existing mutual fund portfolio can also switch to direct plans using the app. WealthTrust’s 'Top funds' feature analyses of 6,000 schemes and suggests best direct plans to invest according to investment horizon and risk appetite, a press release from the company said.
The App provides paperless account opening facility and helps investor to manage all its mutual funds investments from one place and give real time performance analysis report. The app is available on Android platform and soon will be available on iOS. Through Direct Plans, an average investor can start saving 1-1.5 per cent extra every year and increase his wealth by 30 per cent over the long-term, the statement said.
The company has tied up with MF Utilities India Pvt Ltd to act as a transaction platform. The firm currently manages assets of nearly Rs 2.5 crore.
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