ICICIdirect launches LIFEY, a life-stage investing software

ICICIdirect, a web-based platform for investments, safety and mortgage merchandise has introduced the launch of LIFEY – Lifestage Investments for You, a brand new software to assist its prospects meet their lifestage milestones corresponding to proudly owning a brand new automotive, buying a home, saving for marriage bills, greater training for youngsters or wealth accumulation for retirement. 

In basic, life-stage investing entails investing in line with a monetary plan that undergoes adjustments with a person’s / household’s altering life levels. For instance, to begin with, a younger incomes particular person with no dependents can take some quantity of danger whereas investing. You could need to save for knowledgeable course at this stage. Further on in life, chances are you’ll need to begin saving for getting a house and later for retirement. As you get older, your intention could also be to protect your capital and have some common revenue circulate slightly that investing your cash aggressively to develop your wealth. Life-stage investing takes all such elements into consideration whereas designing an funding plan for somebody.

“LIFEY will help prospects in sensible asset allocation and building of rigorously curated portfolios primarily consisting of mutual funds primarily based on fund choice by ICICIdirect’s analysis. The suggestions are data-driven, primarily based on buyer’s risk-taking urge for food, and goals to information them of their monetary journey,” mentioned Anupam Guha, Head – Private Wealth, ICICI Securities. LIFEY will assist ICICIdirect’s prospects with developing do-it-yourself fund baskets and creating customised milestones as per their private wants. 

According to the press launch, LIFEY will take note of a person’s danger profile whereas suggesting funding choices. Customers can have the pliability to go for lumpsum or SIPs (systematic funding plan). The software will include a dashboard that may assist prospects maintain monitor of the progress on assembly the milestones. They will even obtain well timed alerts to assist them keep heading in the right direction.

Subscribe to Mint Newsletters

* Enter a sound e mail

* Thank you for subscribing to our publication.