How to get investment advise that's tailor-made for you
Updated: Jun 9
Imagine you’re getting an outfit stitched for an occasion. You spend hours looking up the latest trends online, followed by an equal amount of time combing through fabric stores. Before zeroing in on a tailor, you ask your friends for recommendations. Then, you visit the tailor for round after round of alterations, till the outfit looks perfect on you. Now, here’s my question – if you believe so much in personalising an outfit, why wouldn’t you invest as much time and effort in something far more important and enduring – your investments?
I get it. For a long time, the investment market was either a puzzle of research and risk or a mix of one-size-fits-all solutions. The latter is especially tricky for us women since we have different investment goals from men and our earnings are (unfortunately) dissimilar as well.
And that’s where Basis comes in. As a platform that powers personal finance for women, Basis empowers female investors with financial knowledge through curated content and an engaged community.
The Basis app has been designed based on feedback from hundreds of Indian women, using the expertise of women fund managers. How does it work? Let’s use the example of the perfect outfit. Most financial services and apps have a standard set of recommendations based on broad criteria, similar to a fashion e-commerce site.
Using the Basis app, on the other hand, is like getting a bespoke garment made from scratch. It uses a proprietary algorithm that takes your specific details into account (10 of them, in fact), runs thousands of simulations, and then suggests funds that will help you meet your unique goals.
Let’s take a closer look at how the Basis app offers tailor-made solutions.
1. Discover your investment style:
Think of it this way -just like we all have a unique sense of style, we also have an individual approach to investing. The Basis app helps creates a unique profile for you using these criteria:
1) Risk appetite: A simple quiz helps figure out how much of a risk you’re willing to take. Prepare to be surprised!
2) Duration: We offer recommendations for 1 year, 15 years, and everything in between!
3) Goals: You can choose from one of our 10 women-centric goals (long-term goals like child’s education and elderly care for parents or short -term ones like building an emergency fund or buying a car); you can even add your own goals.
Whether you want to buy a car in two years or build an emergency fund, our proprietary algorithm suggests the right funds to help achieve your financial goals.
2. Get the right material:
Once you’ve filled in these criteria, the app runs 2,000 simulations to arrive at the best funds that will help you achieve your unique financial goals. Now, here’s something else that’s special about the app – we’re aware that women primarily like to protect their investments, so don’t gamble with their money. Bearing this in mind, we’ve handpicked funds that offer consistent returns instead of returns that fluctuate dramatically.
3. Trust your (financial) tailor:
Our financial planners, the brains behind the app, have decades of experience behind them and apply the Modern Portfolio Theory while investing. That’s why the app spreads out your investment among funds that optimise risk and offer good returns while factoring in the criteria mentioned above.
Here’s an example; if you’re looking for high growth, the app will diversify your money between a large-cap equity fund (50%), mid-cap equity (20%), a value fund (25%) and a liquid fund (5%). The last fund, which has no lock-in period, helps us quickly switch to a fund that’s doing well in the market, thereby increasing your returns.
As proud as we are about designing the app, we’re also really excited by what it can help women investors achieve. By empowering them to attain their goals and financial security, we’re that much closer to helping women live life on their own terms.
Get started on Basis. Download our app now – and get access to curated content and tailored recommendations for your investment needs.