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Scripbox introduces goal-oriented approach for investing

twitter-logoPTI | July 3, 2019 | Updated 17:43 IST

(Eds: Disclaimer: The following content is a press release. PTI takes no editorial responsibility for the same.) ? First to launch algorithmic investing in India (2012), the fresh approach aligns life goals to investments, making financial planning simpler ? The goal-oriented solutions are designed for consumers of all ages based on their life stage, goals, and risk appetites ? With this smarter investing approach, Scripbox targets a 10X growth in AUM to Rs 10,000 crores in the next five years Bangalore, 3rd July, 2019: Online investment services platform Scripbox today announced the launch of a new goal-oriented approach to investing. It is designed to help consumers create wealth in a systematic manner for various life goals. With this approach, Scripbox targets 10X growth in AUM to Rs 10,000 crores in the next five years. The last few years have seen the Indian market mature both from regulatory as well consumer awareness perspectives. An increasing number of consumers today realise that mutual funds are an important building block in achieving their financial goals. Thus, a goal-oriented approach is the logical next step in helping Indians achieve financial well-being. “We’ve helped people get started with a simple, jargon-free approach to investing and now, we are taking them to the next level with a more structured investing approach. We have created ready-to-use financial plans for key needs which consumers can personalise for themselves. Our new approach takes full advantage of the trust we enjoy with investors, deep insights into how people invest, our personal finance expertise and our design and technology capabilities,” said Sanjiv Singhal, Founder of Scripbox. Scripbox is well known for creating simple and elegant user experiences in a complex field like personal finance. The new offerings are practical planning tools that help a consumer understand exactly what needs to be done and how they can do it. Consumers can create a personalised and guided path to achieving their goals in less than 5 minutes. The offerings include - My First Crore, Emergency Money, Dream Planner, Tax Saver, Retire Confident, Premier Education, Global Graduate, Child Headstart. One can plan for dream goals such as international vacations and also for longer term goals such as their children’s children’s education and retirement. How it works For each goal, a consumer can estimate the inflation-adjusted future cost, choose from the recommended asset allocation, and get investment recommendations specific to them. As investors have come to expect from Scripbox, the investment recommendations are algorithmic and unbiased. The plans include a de-risking glide path by which the proportion of debt investments increases as you approach your goal. Once the consumer gets started, they can track their progress to the goal. There is also an annual re-planning feature. The tools are also enriched with research inputs that keep pace with the changing economy, increase in education inflation for example. “When your child is in the 4th standard, you don’t really know what college education costs or how much college fees increase every year. Our tools incorporate these data points so you know exactly how much to save and contribute each month for your child’s education.” said Sanjiv Singhal. Today Scripbox has consumers across 1250+ cities and towns in India, 70% of which are first time investors and 28% are women. Scripbox expects all existing customers to adopt the goal-oriented offerings by the end of the year. With this investing approach, Scripbox provides the best possible solutions for every stage of consumers’ lives. PWR PWR

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