Technology-led stock brokerage FYERS goes live with its direct mutual fund platform
Mumbai: FYERS, a technology focused stock brokerage firm today announced the launch of its direct mutual fund platform, FYERS Direct. The mutual funds purchased on the platform will get credited directly to FYERS demat account giving investors the convenience of accessing one portfolio across equity, mutual funds, etc.
FYERS Direct has been launched with an aim to simplify the entire investment process. The platform offers retail investors various options across different mutual fund plans through a single window, thus, making it simpler to compare and invest in.
FYERS Direct eliminates conflict of interest and empowers investors to handle their financial investments including stocks and MFs through a single demat account, thus making the entire performance tracking of the portfolio hassle-free.
Commenting on the launch Tejas Khoday, Co-Founder and CEO, FYERS said, “Today’s digital native investors are more independent and prefer self –learning to seeking advice on financial matters. They also prefer ease of use over complexity, something that has been made possible with tech enabled trading and personal finance platforms. As a policy, we have kept away from offering any trade-related advice or tips and have always focused on bettering the UI for our customers through tech integrations, innovations and products that can bolster their trading experience and maximise their opportunity for wealth creation. Through FYERS Direct, we want to extend the convenience of a single portfolio view to our discerning customers who can now trade and invest in multiple financial instruments through a single demat account.”
FYERS Direct enables investors to save distributor commissions of up to 1.5% of the total investment per year. In keeping with its principle of no-client conflict FYERS will not get any trail commissions from the fund houses.