Country: India Image7
Year: 2015

Concept

  • Available only to Indians, Goalwise is a goal-based investing platform that helps users attain achievable targets based on a timeline defined by the client. The platform tracks progress over time, and encourages users to stay focused on their goals. Typical user goals include saving for a rainy day fund, education, retirement or a down payment for a house
  • Available only online (mobile app coming soon), the platform works on algorithms, which automatically detect how likely users are to achieve goals based on their investment patterns and spending behaviour before suggesting appropriate savings plans
  • No fees are paid upfront by the user. Goalwise receives fees to mutual l fund companies (based on overall asset pooling per fund, from 0.5 to 0.75% AuM per year)

Consumer Benefits

  • Low risk: diversified and low-risk profile portfolios thus reducing risk
  • Inexpensive: no upfront fees for users
  • Personalised advice: professional advisors help users achieve their investing goals

How To Use

  • Users connect to the website and click on ‘Sign up’. Then, they fill out age and monthly savings amount and click on ‘show my goals’ and then on ‘proceed to goal plan’
  • On the next page, users can choose between three types of risk profile: high, moderate or low risk and between three types of investment: tax, wealth or house
  • For each investment type, users can choose: monthly investment, time horizon (years) and target amount. After choosing the investment plan, users can start investing

Illustration

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