I personally thought fundsindia is different than other agents in markets who look for only commission and give biased products. I personally own a fundsindia account. And during the first week Relationship Manager kept on calling me to do my first investment. He claimed himself as certified financial planner. I asked him a simple question. **What is the tax liability of equity/debt purchase and sell.
He plainly said he doesn’t know about that and will ask someone** and reply to me in 1 day. As a CFP he should know this basic stuff. Do you see how well educated they are or claiming to be? His first motive is to enable customer to do his first investment (guess he’ll get some bonus if he convince us to do). Probably he’ll say SIP in top funds. While SIP is good, but after service is real bad.
After that I made a small purchase as I wanted to do (my decision) through fundsindia platform and added his name during the purchase process. Its been around 2 weeks now I never heard back from him. DO they have any kind reward of program if you make customer to do their first investment? May be that could be the reason he was behind me till I make the first investment and after that he absconded. So, I have decided not to continue with fundsindia. Good that I got to know about your service so soon.
Conclusion is that the service is same like other agents, there is nothing special. We don’t need them to tell only top funds, but to do proper analyze of clients risk and help them in achieving their goals. This they clearly don’t have. Though you can get organized one place for all your MF investment. You cannot expect more than that.
So, I have decided to move on. I am better off indulging in direct investment through MF company. Don’t get lured by what they claim and say. Best wishes.