FAQ
Jofin is a consumer brand of Wealth Junction Consultants Private Limited. We have been in the offline space for 10 years now. We have diversified into online space recently. We are one-stop financial solution company offering complete in-depth Financial Planning, Investments Platform, Succession Planning, Tax filing services and Digi document locker.
A financial planner helps you meet your life goals and long-term financial objective. Financial Planner takes a 'big picture' view of your current financial situation and makes investment recommendations that are suitable for you. The planner can look at all your needs including budgeting, saving, taxes, investments, insurance and retirement planning. This big picture approach to your financial goals sets the planner apart from other financial advisors, who may have been trained to focus on a particular aspect of your financial life.
A financial plan is the comprehensive evaluation of an individual's current and future financial state by using the current known variables to predict future income, asset values and withdrawal plans.
It is always better to have a financial planner to manage your funds. Normally Human Financial Advisors charge a very high fee. Jofin's financial tools are very reasonable in comparison to the Human Financial Advisory.
If you buy an investment product based on the financial planner's advice and recommendation, you make investment decisions, contributing to your long-term financial goals. At Jofin, you have access to a wider range of choices than one can assess realistically on your own. You also have more reliable security services. For example, protection would be given where unsuitable advice was given or your advisor is found to have not acted in your best interests. Similarly, non-advised investors would also be secured if they were misled or mis-sold a product.
Yes, we are CFP's. Choosing a Financial Planner may be one of the most important decisions you make for yourself and your loved ones. Financial Planners can provide you and your family with guidance over your lifetime, or work with you to address specific concerns as needed. Regardless of how you choose to work together, a planner can play a central role in helping you meet your life goals and achieve financial well-being. Consequently, take the time to select a Financial Planner who is competent and trustworthy, one on whom you can depend for professional advice and services.
Analysis of existing Investments is an integral part of the Financial Planning Process. During the Financial Planning Process, we collect all the details about your existing investment. Our financial tool analyses the data and advise corrective action. You can provide your existing Policies, Mutual Funds and Stocks for analysis.
We identify the current financial situation, manage risk appetite, identifying goals, map assets, identifying risks, create and implement a Financial Action Plan and perform constant monitoring.
Our platform consists of Financial Planning, Tax Filing, Document Locker, Investment Planning.
To change the DOB you have to make a request on support@jofin.ai with valid Id proof.
Risk Profiling is a mandatory step for Financial Planning and investments. This is a process for finding the optimal level of investment risk for our client. We consider the following criteria for risk profiling: a. Risk Tolerance: How much risk you prefer to take. b. Risk Capacity: How much risk you can afford to take. c. Risk Required: How much risk you need to take.
Yes, you will get a trigger mail once you have achieved your goal.
As soon as you feed your data on the platform, our proprietary tool will analyze and provide you with your financial plan.
Other than the DOB, you can change your details at any point of time.
We work on the DIY ( Do it Yourself ) concept. You may or can map your funds to your future goals yourself.
Yes, we have a research team who does an in-depth analysis of funds and make recommendations accordingly.
Jofin provides a fixed set of algorithms and formulas calculate the data provided by you and thereby provide a financial plan.
We work on DIY ( Do it yourself ) concept. You may or can map your funds to your future goals.
A Mutual Fund collects money from the investor and invests money on behalf of the investor. They invest in different markets segment like equity, bonds, debts etc. A small fee is charged in return. The fund manager manages the money.
For a retail investor who does not have the time and expertise to analyze and invest in stocks and bonds, mutual funds offer a viable investment alternative. This is because:
- Mutual Funds provide the benefit of cheap access to expensive stocks
- Mutual funds diversify the risk of the investor by investing in a basket of assets
- Team of professional fund managers manages them with in-depth research inputs from investment analysts.
- Being institutions with good bargaining power in markets, mutual funds have access to crucial corporate information which individual investors cannot access
Net Asset Value (NAV) represents a fund's per unit market value, the price at which Investors buy units from a Mutual Fund company and sell them to a mutual fund company.
In an open-ended mutual fund, there are no limits on the total size of the corpus. Investors are permitted to enter and exit the open-ended mutual fund at any point of time at a price that is linked to the net asset.
Debt Funds invest in fixed-interest generating securities like corporate bonds, government securities, treasury bills, commercial paper and other money market instruments.
A Balanced Fund is a mutual fund which provides a one-stop investment mix by investing its portfolio in a mix of debt and equity instruments to balance the risk-reward ratio.
In the growth option, profits made by the scheme are invested back into it. Dividends / IDCW Payout are declared only when the scheme makes a profit and it is at the discretion of the fund manager.
Liquid funds are simply debt mutual funds that invest your money in very short-term market instruments such as treasury bills, government securities and call money that hold the least amount of risk. These funds can invest in instruments up to a maturity of 91 days. It is better to invest your money in Liquid Fund, as it generates a better return.
Sector and Thematic Funds are generally referred to as a single category fund which means they cannot take exposure to multiple sectors or themes.
An international fund is a fund that can invest in companies located anywhere outside of its Investors' country of residence. International funds differ from global funds, which can invest in companies from any country in the world. International funds may also be referred to as foreign funds.
The exit load is a percentage applied on the NAV (net asset value), and the reduction in the amount is credited back to the investor. For example, a mutual fund defines its exit load to be 1% on redemption within a year. If an investor invested his money at the beginning of the year on 10th January and he decides to redeem it on 10th April, when the fund's NAV is at around Rs 25, since 10th April is much before the agreed period of the redemption, the investor will attract an exit load on failing to honour his commitment. The amount returned to the investor post the exit load will be 24.75. The exit load amounts to Rs 0.25 (1% of Rs 25), where different AMC have different exit loads. Maximum Exit load charges are 2.5%.
A mutual fund rating is usually a measure of a fund's historical risk-adjusted performance over different time frames compared with the funds in the same category. Mutual Funds are independently rated by various rating agencies such as CRISIL, Morningstar and Value Research.
These are liquid mutual fund schemes that support instant redemption i.e., an instant credit into your bank account when you withdraw your investment. There is no charge or exit load on withdrawal.
A SIP allows you to invest small amounts of money over time to build a corpus. Generally, one starts with an STP when there is a lump sum to invest. An STP helps spread investments over a while to average the purchase cost and rule out the risk of getting into the market at its peak. Whereas, SWP allows you to withdraw a designated sum of money from a fund at regular intervals. Such a system is mainly suited to retirees, who are looking for a fixed flow of income.
No, a PAN card is compulsory to invest in a mutual fund.
Jofin does KYC for all the customers. Therefore, you need not repeat the KYC process with every Mutual Fund.
No, DEMAT is not required for investment in Mutual Fund. It is required only when you are doing investment in stocks or shares.
Nowadays, it is much easy and simple to buy a Mutual Fund. Initially, you have to submit KYC (PAN and Aadhaar) details and Bank Account details. We have a tracing facility for our customers.
It's up to you. DEMAT is not required on our platform.
Yes, we have that option on our platform.
Yes, you can make an additional investment on our Portal.
No, we do not entertain Cheque and Cash options in our platform.
You can make the investments through banks which comes in the schedule list of RBI.
Yes, you can invest in the name of your spouse and relatives but you need to have a different account for that.
We have tied up with 40 AMCs.
Yes, there is a minimum investment amount which is decided by AMC. The minimum investment amount is around Rs. 100 to Rs. 5000 and it varies from AMC to AMC.
An NRI can also use this platform. They have to use NRE or NRO Account.
It is a feature for Paid user to keep the documents that are private and securely saved at Jofin server with 2 Layer Security along with OTP login.
It helps you keep important documents at one safe place.
No. We are using the OTP mechanism for authentication.
We are using 2 level encryption and the OTP mechanism to ensure that your documents are safe.
There could be many reasons you haven't received the OTP. You may be in an area with a poor network or you may have entered an incorrect number. Please double-check the number and click on Resend OTP feature.
Overall 5GB file can be uploaded and user limit for across all the files is also the same.
Currently, we support all document files and image files with a valid extension.
No impact will be there in your existing locker.
You can click on delete tab to delete any of your uploaded files.
No, you can retrieve your files anytime from the trash folder.
You can delete files and folders from the Trash folder to free up space. But, remember, once deleted from the Trash folder, the files and folders will be deleted permanently and cannot be retrieved.