I really enjoy using Zerodha Kite and love the ideas and features it supports. To an extent Coin as well - one click pause/resume being favorite.
The confusion I have is specific to Coin, to scale myself (full engagement) and bring in more trust (to stick with you and hope you to deliver features in timely manner) in your MF platform.
In plain, if you can respond to the below requests directly in absolute terms it will be really helpful for me and the other users as well.
For eg. instead of ‘we are evaluating it’, ‘the feature won’t be possible’. Instead of ‘the feature will be release soon’, ‘the feature will be released in the 2nd week of June this year with ±week buffer’.
I work in software industry and I know features don’t go as planned all the time but being direct and open about it goes long way.
Feature Requests:
Real SIP for which lump sums are not accepted - To an extent it can hamper one click pause/resume but asking only for the ones the lump sums are not allowed - this can bring in few good performing funds
A specific date ?
Not going to come ?
In backlog but not in priority right now ?
STP - We hope you know why we ask this - basic functionality
A specific date ?
Not going to come ?
In backlog but not in priority right now ?
SWP - Same - basic functionality
A specific date ?
Not going to come ?
In backlog but not in priority right now ?
XIRR - Helps us understand are we doing worse/avg/better, needs re-balance? - for now we can duplicate it in VRO and check this - but will be good if it is available in one place
A specific date ?
Not going to come ?
In backlog but not in priority right now ?
Goal based - Helps us stay motivated and informed about where we stand towards our goals
A specific date ?
Not going to come ?
In backlog but not in priority right now ?
Moving away from DEMAT model for MFs - Seen comments about ‘Rs.5.5+tax is cheap in today’s world’ but let’s say I want to do STP from a liquid fund to an equity fund weekly - it cost’s around ~340/year. If I have to do it for more than 1 fund or 5 funds? This might be the case whenever some wants to re-balance, move to different fund over time etc. A penny saved is a penny earned
Real SIP for those which stop lumpsum investments by next month end.
STP/SWP - This will take some time. Can’t give a date.
XIRR - this and a lot of reporting coming in the new version of Q by end of next month.
Goal based - No plans yet.
We intend to remain demat based itself. The only reason all of this makes economic sense is because we settle mutual funds similar to stocks. Hence we can offer this at the costs we do.
The challenge for businesses that are trying to offer direct mutual funds alone - I don’t see how it can ever be a sustainable business model catering to retail investing community who doesn’t like paying money separately for advisory. If you can’t charge for advisory and the platform is free, how will the business run in the long run. On the HNI side, almost everyone has already moved to direct. Even the traditional wealth managers are now allowing direct plans.
Yes, VC’s can fund if growth is shown, but that is a risky way to run a business, especially in a very shallow regulated industry like ours. We Indians have been spoilt by all the cashbacks etc that is currently being funded by VCs. All of this can stop overnight. As a consumer it is important, especially in the business of money that you know the business you are dealing with can survive in the long run. Btw, I can very easily be wrong on my above view.
But if you still think that Rs 5.5 as DP charges in today’s world means a lot, best to opt for ones who don’t have this.
Thanks for taking time on Sunday evening and responding. Even after these many years it shows the passion is not fading but gaining
Thanks. But please do prioritize goal based [the least - more like tag the funds, group sum of tags, tag max and tag achieved]. It gives the investor a meaning and persistence to stay invested, rather than just plain cumulative numbers [until and unless only one goal is there]. It can be done on a paper or excel, but again if it is there, less hassle and it is not that big of an ask either.
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Rs.5.5+tax is cheap, I agree on that. I might be overthinking about this point. But the main concern is if someone wants to do many sells & buys - this will be still an overhead. 5.5x10 - cheap, 5.5x100 - cheap?, 5.5x1000 - not cheap. Maybe someone needs to plan better. Ultimately this model reduces the user’s freedom.
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I know who you are talking about and I also almost have the same concerns. That is main reason to post these topics and get a clear understanding of what the plans are and what’s the team’s stand on users’ feature requests. It will become unmanageable or doesn’t makes sense to implement each and every feature asked by each and every user.
The basic and top feature definitely needs to be there. You can also try using something like - https://www.uservoice.com/ which can help you in better understanding the users’ feature demands. I see many times it is getting missed in this forum or same being asked again and again.
