Angel Wealth Overview
With Angel Wealth, it seems that Angel Broking is finally trying to seriously stretch towards a much widely accepted investment product in India - Mutual funds. Yes, Equity and stock market have been something the broking company has been chasing since its existence and the mobile app does allow to invest in the stock market as well.
But undoubtedly, Mutual funds market spread is way bigger than Stock market investments. One of its major competitor, Zerodha has already introduced a Mutual fund investment platform Zerodha Coin a few months back.
Angel Wealth is basically a mobile app for retail investors who are looking to plan out their financial goals and targets and correspondingly invest in different segments. The mobile app recommends different financial products to users through Angel broking's automated recommendations engine - ARQ. The engine performs risk profiling for the user, suggests different financial products along with the proportion of the user's investment in each of these segments.
Angel Wealth Features
Let's talk about the different features Angel Wealth offers to its clients:
- Once you login into the application, the 20 MB+ sized application downloads some of the important information including your total bank holdings, expenses, savings along with your investments and trades through your Angel broking trading account (if applicable). All this information is taken post your confirmation only.
- As shown below, the following features are offered to you once you start using the application. If you are a client of Angel Broking, Angel Wealth shows your positioning and holding in different products such as Equity, Mutual funds, SIPs. Furthermore, you can place your new investments as well by using the mobile app.
- This is the dashboard screen from where you can navigate across expense tracker, mutual fund investments, quick SIP tracker, tax savings tab etc. The details about the bank balance and corresponding investment are taken from your actual bank accounts post confirmation from you. Based on your bank balance, the app also mentions your potential monetary returns on an annual basis.
Angel Wealth Disadvantages
Here are some of the concerns of using Angel Wealth mobile app:
- The app is available only for Android users; iOS platform app not released yet.
- Limited financial product options available. The user cannot invest in segments such as Commodity, Currency, upcoming IPOs etc.
Angel Wealth Advantages
At the same time, let's talk about some of the positives as this mobile app:
- The app is sleekly designed and most of the content pieces are clearly positioned. So even if you are a beginner or a non-client of Angel broking, you will not have a tough time understanding different features available in the app.
- Angel Wealth provides a comprehensive view of your account savings, expenditures, potential gains etc in such as way that you are able to easily understand your overall spending pattern and corresponding investment opportunities.
For rest of the details, you can check out the review of Angel Wealth here.