Do not worry…Learning to invest is easier than you think it is… You will not be learning swimming in Cold December month..
Few suggestions that could help you to shed the fear on investing…
- Nothing comes before you chose where you intend to invest in. Yes, planning comes in first and you have a variety of advisors who can advise you on your financial planning. Get it straight, any travel can begin, only when the destination is finalized.
- While there is lot of information available in the public domain, nothing like getting sound financial advice. There are AMFI registered intermediaries who can assist you on which fund, what kind of funds will suit your risk profile. Please look up AMFI Site to locate a distributor near you. CAMS is the Registrar being vested with the responsibility of Issuing these ARN numbers to distributors.
- Do you know that funds insist to know you well before you commence a relationship with them? Yes, this is called Know Your Customer (KYC) process. This is a rule to comply with the Anti Money Laundering regulations by government of India. You will necessarily have to get KYC done for you before you could invest in Indian Mutual Funds. CAMS KRA is one of the SEBI regulated KYC registration agency.. Just look the website to learn more.
- Should you not know the specifics of the scheme that your financial advisor suggests you to invest in? Yes… Please take a look at the Scheme Information document (SID) to learn the fundamental attributes of the investments you are making. It would basically give you insights on the asset class, past performance, fees chargeable and you could verify if this will suit your investment objective or not.
- Well… you are almost ready now to invest.. You could go through your advisor to start investing to begin with. You have the flexibility and convenience of setting up Systematic Investment Plans (SIPs) for a monthly debit from your bank account and allow units to get accumulated in your folio.
To learn more on these important steps, watch our Investor Education Videos