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May 25, 2022

HDFC Securities launches robo-advisory platform

Broking house HDFC Securities has launched a robo-advisory platform that will offer investors mutual fund schemes and other financial offerings.

Dubbed HDFC Money, the new platform allows users to invest in mutual funds and access other products without a demat account.

The platform will allow users to manage various aspects of finances including accessing, managing, and tracking portfolios, insurance planning, starting goal planning, creating e-Wills, and managing or filing taxes.

According to the firm, HDFC Money will allow investors to “plan and execute with a more defined objective keeping risk and tenure in consideration”.

HDFC Securities head of investment products Abhishek Mehrotra said: “HDFC Money, backed by inputs from a highly experienced team, curates via robo-advisory the best of the best mutual funds that exist in this exhaustive market as per the declared risk profile of the customer. These eventually help the investor in navigating through their investment decisions.”

Customers can sign up for HDFC Money by completing basic know you customer (KYC) documentation digitally.

On the platform, customers will be able to access funds of their choice and reports about the fund performance history, fund manager as well as other details such as last disclosed asset allocation, top sector and stock holding.

They will be also able to file taxes through the platform with the help of CA or by themselves. The platform features a number of tax-related services, including basic self e-filing, CA assisted e-filing, CA assisted with capital gains, NRI tax returns, and IT notice.

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