Migrating from Goalwise

I currently have a few goals set up and running well on Goalwise. There are 2-3 Funds per goal on an avarage.

I am happy with their user experience, regular rebalances, customer service and fund recommendations. On the other hand, having spent over a decade and a half in technology with financial services companies, I also understand the simplistic nature of the robot-advisory business which makes me unhappy with the differential paid to Goalwise in terms of the difference between a Direct and a regular MF.

Can/Will Coin offer something similar? if so, i would switch over in a heartbeat despite the whole standing instruction hassle instead of a NACH mandate which the entire world uses and every customer in the world prefers.

-N

We are planning to allow grouping investments into goals, but might take some time. We are first launching the Coin mobile app. Btw, banks have started allowing registration of e-mandates, we should be able to offer the NACH soon (btw, you can currently set a standing instruction on your bank to transfer money on a set date to the trading account).

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Goals for robo-adivisory is technically trivial to implement so when i hear it would take time, it doesn’t inspire a lot of confidence.
However, as a stopgap measure until you can implement something similar, would you be open to allowing a bulk import from or better still scraping of a user’s Goalwise account to look at the goal baskets and import the funds (and select the same schemes in direct format) thereby allowing the user to maintain the same split and value for their SIPs? This would be a good temporary measure to hold us over until you can implement a proper robot-advisory.

Also, SI is a very poor substitute for NACH since i can specify a max amount on a NACH once and be done with it whereas with a bank SI i have to login and edit the SI every time i adjust my SIPs.

-N

Covering all use cases isn’t trivial, there will always be many edge cases. Btw, this isn’t on our top of priority, we have a couple of very important product updates to be launched soon.

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@nithin
I agree that there will always be edge cases that will need sanity checks built in which is not trivial. however, product development issues aside, as i mentioned earlier, allowing the ability to scrape Goalwise or similar portfolios for people who have assets locked into that platform and allowing them to duplicate those splits on the direct platform would be a highly significant and impactful USP.
It could be a sophisticated implementation allowing a screen-scrape or something as rudimentary as triggering a Karvy and NSDL CAS tailback tank then parsing the resulting pdf to come up with an actionable user report. Either of those would allow user like me, who i am sure are numerous to migrate from a competing platform by making for a better experience for migration.

@nithin - Would you be open to doing something similar to what i mentioned above and helping people move their existing investments over to your platform.
I for one would happy to work closely with your product development team to beta-test and help architect this tool.
-N

Nakul, there are too many things on our table presently, a lot of product updates in the pipeline. I don’t think there is anything new we can do until March/April next year.

@nithin - Understood. Please keep this in mind for when your team has time to work-in more features on Coin.
a little OT - how about GTC orders in Kite? Will we be seeing that rolled out in Kite 3.0??
-N

Unsure if GTC orders will come out with 3.0. But this is in the pipeline. An announcement will be made when it’s ready to go. Apologies for the wait.

Is this coming anytime in coin ? Really wanting to get this grouping of Funds for goals…

We will soon have a tagging feature to every holding on console (stocks and MF). You can tag your holdings to respective goals.

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Hello Nithin,
Will it also include F&O position to clearly identify
the performance of different strategies in open position portpolio.

Iron Condor,
Put Spread,
Calender Spread

This will help us to clearly see the performance of different strategies and have clear (in mind or strategy based ) stop loss and targets.
@siva

Yep, F&O as well.

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@nithin Is this coming anytime this year ? Fix a deadline…

Hopefully in next few months.

We are hoping for a longtime…Maybe u guys can give this more priority and deliver…

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This is a very useful feature & much more inspiring for all the new & especially young investors joining recently or in past few years, To be able to Decide & tag their goals & stick to them with more discipline.

3 features I am eagerly waiting for to be implemented in coin-
-Goal based grouping & tagging
-Instant redemption atleast upto 50k
-STP/SWP

Hopefully before 2021 @nithin

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