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.
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
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.
Here's how Indian stock advice by Purnartha works on the Cube Wealth app
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
on stock picking, poring over excel sheets, financial news, analyzing market trends, tracking the Sensex, researching company fundamentals, comparing mutual funds, reading financial reports, trying to predict the future & losing your sanity!
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