Investing directly in mutual funds without a broker is possible, and it can be an easy process.
Steps to invest in mutual funds without a broker
- Choose the mutual fund you want to invest in: You can select the mutual fund you want to invest in by researching and comparing the different options available. Ensure to check the performance, fees, and other details of the mutual fund before investing.
- Open an account with the mutual fund company: Once you have chosen the mutual fund, you can open an account with the mutual fund company. This can usually be done online by filling out an application form and providing the necessary documents like KYC (Know Your Customer) details, and bank account details.
- Invest in the mutual fund: After your account is opened, you can make an investment in the mutual fund by transferring funds from your bank account to the mutual fund account. You can also choose the investment mode, whether it is a lump sum or a systematic investment plan (SIP), where you can invest a fixed amount every month.
- Monitor your investment: Track the performance of your mutual fund investment through the mutual fund company’s website or mobile app. You also receive regular updates and statements from the mutual fund company.
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Creative Takeaway
Buying mutual funds without a broker can be compared to DIY home improvement. Just as you can save money and customize your project by doing it yourself, you can save money and customize your investment portfolio by buying mutual funds directly from the fund company. DIY home improvement requires research and planning to ensure you have the right tools and materials for the job, just as buying mutual funds without a broker requires research and planning to ensure you have the right funds for your investment goals.
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