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How Are Investment Advisory Apps Better Than Traditional Wealth Advisors?

Do investment advisory apps work better than traditional wealth advisory? Read more to get a comparison of how both services stack up against each other.
October 19, 2020

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Technology has changed the way all industries function. It has improved products and user experience across the board. Investment apps have done the same thing to traditional wealth management.  


By improving the ease of access to quality investment options, investment apps, as they are commonly referred to, have changed the way people look at or even think about investments. 


Is this change here to stay? Should you trust a screen with bits of data with your hard-earned money? These are very useful questions that can help you determine which mode of investment can work for you. 


So let us take a look at how investment advisory apps such as Cube Wealth have simplified and improved wealth creation. 


How Does Online Investment App Advisory Work Vs Traditional Advisory?


An investment app can combine the efficiency of technology with the brilliance of finance advisory. This means that a typical investment app can give you access to portfolio and wealth management services in just a few clicks. 


Essentially, online investment apps are predicated on providing affordable and transparent means to invest using a DIY approach with added benefits like algorithm based scheme options, automation, paperless KYC, low fees, etc. 


For example, the Cube Wealth app brings an added layer of transparency into the game. You get to choose the timeframe, risk level and there are no hidden fees involved. The best part about the app? Users get easy access to world-class wealth advisors who were, not so long ago, only available to the ultra-rich. 


When it comes to traditional wealth advisory, the majority of bank relationship managers share recommendations which are driven by their individual sales target and not according to your portfolio requirements. So don't be surprised if they don’t answer your calls once they've sold you a fund.   


Comparing Investment App Advisory Vs Traditional Wealth Advisory

 

Parameters

Traditional

Investment Apps

Cube Wealth

Advisory Cost

~1%

~0.25

No Additional Charge on Indian Investments 

Investment Options

Limited

Diverse

Curated
(Based on your needs)

KYC

On Paper. Tedious.

Paperless. Digital. Easy.

Paperless. Digital. Easy.

Access To Wealth Advisory

No

No

Yes

Perfect Portfolio Builder

No

No

Yes

QuickSIP

No

No

Yes

SuperSIP

No

No

Yes
(Unique to Cube)

US Advisory

No

No

Yes


So… Should You Choose Investment Apps Or Traditional Wealth Advisory? 


The advisory that you get through an investment app is more affordable, accessible, and streamlined than the traditional way. In comparison, traditional wealth advisors may recommend limited options specific to a fund house. 


But traditional advisory allows you to communicate with executives who rely on practical experience to judge what might be best for your portfolio. And even if you go with an investment app, there are too many investment schemes and options to choose from. Seems tricky, right? After all, this choice can be the difference between achieving or falling short of your investment goals.


Our recommendation to help you make the best investment choices would be the Cube Wealth app. Cube combines the brilliance of technology with the expertise of actual wealth advisors like Wealth First, Purnartha, and more. So the recommendations that you receive are curated by the best advisors in the business based on the analysis of complex data. How do we do it? Read it here


To know whether you should invest with Cube, speak to a wealth coach for free or download the app today.

Shriram Shekhar
Shriram is a Consultant at CubeWealth. He has developed cutting edge IT products for over 2 years before turning to his passion for the written word. His love for philosophy, developing products, and empowering people through quality content is what got him to CubeWealth.

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