About Wealthy

What is Wealthy.in?

Wealthy.in is (referred to as Wealthy for brevity) an online wealth management platform that offers consumers tools and products to manage their wealth. The platform is operated and maintained by Buildwealth Technologies Private Limited. Execution services across mutual funds and other investment products are offered by Wealthy IN Customer Services Private Limited, an AMFI registered mutual fund distributor with ARN 106846. Wealthy is not an investment advisor and baskets available on the platform are incidental to our distribution business and should not be construed as investment advice.

How is Wealthy better than other mutual fund services?

Wealthy is better on three fronts. Firstly, the platform is completely paperless and the experience you will have with Wealthy will be unmatched. Secondly, we have built superior technology which allows you to access your money anytime, anywhere. Thirdly, you can consolidate your mutual fund holdings in a single view using the tracking and consolidation tool. And finally, we have created baskets of pre-selected funds and strategies that reduce your research time and give you more confidence in the selection made by you.

Do I have to send any scans/courier any documents?

Nope. We are truly paperless.

I am already KYC verified, do I need to do this process again?

No. Wealthy doesn't require you to do your KYC again. You can start investing right away if you are a KYC verified investor.

I have never invested before. Do I need to do special paperwork? How will you do my KYC verification?

If you have never invested before, you will have to go through a process called Know Your Customer (KYC). With Wealthy, the process is seamless. You simply need to take a picture of your PAN card, address proof and your signature on a blank piece of paper. You need to sit in front of your webcam to get this process done which takes less than 3 minutes.

What if Wealthy shuts down? Do I lose my money?

Your investment accounts are held directly with Mutual Fund companies and therefore, there is no risk of you losing your money in case Wealthy shuts down. You can continue to invest more or redeem from your existing investments with any particular mutual fund company. However, it won't be as easy and rewarding as it is with Wealthy. Moreover, we are not going anywhere, promise.

How does Wealthy make money?

Mutual Fund companies that you invest in via Wealthy charge a fund-management fee also called as Total Expense Ratio (TER). Typically, TER is in the range of 0.5-2.25% of your investments with a mutual fund. For execution facilitation and regular monitoring of your portfolio, the mutual fund companies share a proportion of TER with Wealthy. Typically, the fees shared with Wealthy is in the range of 0.25-1.25% of your total investment amount.

How does Wealthy help me grow my money?

Wealthy uses a combination of its team's expertise in finance, data and technology to make your money work for you. The core of our investment basket approach is based on the principles of Capital Asset Pricing Model, i.e., we ensure that you take lowest risk for a given return target. We help you do that by a) enough diversification and b) continuous monitoring of your portfolio. In other words our pre-selected fund baskets ensure that your eggs are placed in different and right baskets 24X7.

Are there any transaction charges or fees involved?

No. Wealthy levies ZERO transaction charges and is FREE for its users. All the money you invest goes directly to purchase your mutual funds units. To provide the suggestions and seamless transaction service, Wealthy charges a small fee from the Mutual Funds (ONLY for the time you remain invested through Wealthy). To ensure that we stay unbiased, Wealthy earns a uniform fee from all mutual funds. On the tax-saving portfolio currently offered, Wealthy earns 1.25% per annum. So if you invest Rs. 10,000 in the Wealthy suggested portfolio for 1 year, we earn Rs. 125 from the Mutual Funds. When you decide to redeem, you will receive the amount of what the units are worth, with no additional costs.

Are there any charges or fees to use Wealthy?

No, there are no extra charges or fees for using Wealthy's services.

Does Wealthy give me a capital gains statement?

Wealthy will provide you with a detailed capital gains / loss statement for all your withdrawals in a given financial year. This statement can then be used by you to calculate your income-tax liability while filing your income-tax returns. We understand taxes can be confusing and therefore, we are always available to clear up any confusions that you might have about your investments and their tax implications.