How To Choose A Digital Wealth Management Platform? Check Out These Pointers.

With the growth of FinTech, wealth management has become accessible to the general public through the advent of digital platforms. These platforms, led by industry experts and experienced financial advisors, bring together the best wealth management and digital user-friendliness. You can access a wide range of financial data, insightful analytics, expert recommendations, and holistic knowledge through digital wealth management platforms while simultaneously building your wealth via investments.

Sounds too good to be true, doesn’t it? Well, here is where it gets tricky. Not every platform might be curated as per your liking or goals. That is why we have curated this guide to help you pick out the best digital wealth management platform that suits you:

1. Choose a platform that aligns with your goals: 

Go for a digital wealth management platform with expertise that brings you closer to your financial goals instead of blatantly suggesting every profitable investment under the sun. For example, if your goal is to build your wealth long-term, a platform specialising in stock market trading will not be a good fit for you. Keep the scope and importance of your financial goals in your mind and then choose a platform that does justice to them. 

2. Choose a platform with personalised portfolio advisory: 

An extension of the previous point, pick a platform to personalise its portfolio recommendations according to your financial goals and risk tolerance. Ensure you can personalise your portfolio suggestions through various parameters such as risk appetite, previous investments, financial goals, future expectations, investable income, etc. 

3. Focus on the user-friendliness of the platform:

Choose a platform that is as user-friendly and technically sound as possible, with straight forwardear UI design based on customer needs. Don’t go for platforms that might not support streamlining processes, such as KYC checks, tax management, or other standard protocols. 

4. Keep an eye out for the fees: 

Many platforms might have underlying operational costs or commission fees for particular investments. Assess all the charges well before investing your time and money through a digital wealth management platform.

5. Choose a platform that builds a relationship with you:

The only bane of digitising finance is the need for trust-building and customer relationships. That is why choose a  platform that allows for some interaction with experts and mentors who can guide you in your investment journey. For example, at Tailwind, the leading online wealth management platform we have a host of experienced wealth managers who can advise you on proper steps to take depending on your financial goals. 

With these easy steps, you can choose the digital wealth management platform that will make your investment journey breezy.


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