Moneyfront Review: Features, Charges to Invest in Direct Mutual fund Plans
Smart2Investor last edited by Smart2Investor
Investing in mutual funds has become quite common these days. So, here I have shared Moneyfront Review, a platform to invest in direct plans of mutual funds in India.
Financial tasks take up a lot of time and involve a lot of paperwork. Quite often one gets stuck in the paperwork due to lack of proper financial planning and approach. So, Moneyfront has emerged as a solution for the individuals who want to put aside the load of unnecessary paperwork and maximize their return in their financial endeavours.
This online platform was founded by three school friends Mohit Gang, Anil Bang and Puneet Mehta. Their passion for markets and investment brought them together to start their own company. Their company works around the motto, "Happy client is your best advocate."
MONEYFRONT: A Glimpse
MoneyFront is a brand owned by MoneyMap Investment Advisors Pvt. Ltd. MoneyFront is an investment platform that mainly provides advisory services on financial matters by means of a comprehensive portfolio. It is paperless and fully automated platform.
MoneyFront offers only direct plans on Mutual Funds. It is one of the first ones to offer direct plans.
Direct vs Regular Mutual Fund Plan
A relatively less known fact is that every Mutual Fund scheme has two codes REGULAR & DIRECT. The two are identical in every sense - they are the same fund, they follow the same philosophy, are managed by the same fund manager & invest in the same stocks. The difference is only of commissions.
An investor who invests in a particular fund via an intermediary (technically a Distributor) is automatically assigned the Regular Code. On the other hand, an investor who invests directly with the fund house and consciously chooses the option of "direct plan" is eligible for "Direct code".
Since direct plans have lower expense ratios they have higher returns. As this investing platform only deals with direct plans, it only charges a fee for its advisory functions; it does not make any in-built fee or commission from fund houses.
The Moneyfront provides many tools for operating and managing the investments. The lists of the tools are:
1. MoneyFront Saving Meter
MoneyFront Saving Meter helps calculate the clients saving by taking into consideration both regular as well as direct plans. All one has to do is enter the SIP amount, frequency, tenure, expected return and the scheme in which one is investing. The same can be done for lumpsum amount analysis.
2. SIP Calculator
SIP Calculator allows one to see the actual returns generated by systematically investing in a scheme. This tool allows one to even view the earnings that are generated by the previous earnings in SIP.
3. Wealth Creation Tool
Using this wealth creation tool, you can calculate how much money you need to invest in order to achieve your financial dreams in the given time period. So, based on the amount, you can easily decide on the type of mutual funds to invest in, considering their returns and past performance.
4. Retirement Calculator
Retirement calculator helps one calculate the amount of savings required in order to have an independent, self-reliant retired life.
For using the tool and product, you need to just ‘Sign Up’ by following a few simple steps and providing basic information. MoneyFront allows you to invest in model portfolios directly or helps you to choose the best mutual funds scheme as per your preferences. You can customize your dashboard as per your preference and systematically track the performance of your investments.
Moneyfront is a simple investment platform which enables you to plan your investment and attain the planned gains.
Has anyone tried Moneyfront? Any personal views on the same, do share here.