What is a Robo Advisor?
Complex Financial Analysis and Advisory, Simplified.
Finbingo is one of the most intelligent robo-advisors in India.
What is a robo-advisor?
Simply put, Robo-advisor is a technology platform that provides digital, algorithm-driven financial analysis and advisory with little to no human supervision. Investors make emotional decisions at market highs and market lows and based on gut feelings. Software does not make these kinds of mistakes. Robo-advisor collects information from users about their financial landscape and life goals through an online forms and then analyses the data to offer unbiased financial advice and investment strategies. Additionally, robo-advisor also helps visualize projections and growth in the existing assets and investments.
How does a Finbingo Robo-Advisor work?
- With Finbingo Wealth Builder, all you need to do is fill in a simple questionnaire, giving us a peek into your current financial position, your risk appetite and your future financial goals.
- Finbingo robo-advisor uses its pre-programmed algorithm to recommend a financial portfolio that matches your investment profile, risk score and future needs.
- The resultant expert advice is based on your financial situation, your risk appetite, goals and the current state of financial markets continuously monitored by Finbingo Market analysts.
- You can access Finbingo anytime to perform “what-if” analysis based on investment changes or monitor and continue working to get closer to your financial goals.
- Finbingo utilizes its algorithms to automatically allocate, manage and optimize your assets, doing away with the need for a human advisor.
Why is a robo-advisor so popular?
- The main advantage of robo-advisors is that they are low-cost alternatives to traditional advisors.
- Robo-advisor is a great tool for early investors, young professionals who want to start early and get unbiased and wise investment strategy.
- Best suited for do-it-yourself investors. Robo-advisor is easy to access and available 24/7, which enables unlimited “what-if” analysis.
- Contrary to human financial advisors who mandate a large minimum investment, investors can start using robo-advisor with very minimum investment corpus.
Why choose Finbingo?
Finbingo, one of the most intelligent robo-advisors in India, does the following:
Eliminates bias – Robo-advisors are not biased. They go strictly by data. Being machine driven, there is no place for emotions and gut feelings. They need to see hard data to be convinced of performance. And it augurs well for the investor.
Inculcates discipline – Discipline is the most important trait needed to succeed in investment and the financial world. Humans can be undisciplined and can falter during times of market stress; machines will not.
Scientific approach – They take a scientific approach. Investment models are coded in software and each time they are presented with an investment opportunity, they go about analyzing these opportunities scientifically, using time-tested models
Spotting opportunities – Robo-advisors go through millions of data points for you, everyday, looking for both, investment opportunities and red flags. They are much better in spotting investment opportunities and problems quickly, before anyone else does.
Quarterly reviews – Investment agencies typically sell you a financial product but don’t periodically review it with you, leaving you to fend for yourself. At Finbingo, one of the ways we effectively use the robo-advisor platform is to review your investment portfolio every quarter, calling you for action,if required.
Reaches out to every type of investor – In a country like India, people who do not have big portfolios don’t get good advice. Most financial advisors require that the investor have a minimum amount in their portfolio to ‘qualify’ for their advice. Finbingo is changing this. Technology helps us reduce the cost of dispensing advice. We can hence provide advice to millions of investors, regardless of their investment size and profile. Someone investing only Rs 100 will also go through the same process and benefit from the same quality of advice as someone investing Rs 1 Crore.
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Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing. Past performance is not indicative of future returns.
Please consider your specific investment requirements, risk tolerance, investment goal, time frame, risk and reward balance and the cost associated with the investment before choosing a fund, or designing a portfolio that suits your needs.