A

SUMMER INTERNSHIP PROGRAMME REPORT

On
“Role of Advisors Towards of E-Advisory.”
At NJ INDIA INVEST PVT. LTD.
Submitted to:
( L J INSTITUTE OF MANAGEMENT STUDIES , AHMEDABAD )
IN PARTIAL FULFILLMENT OF THE REQUIREMENTS OF THE
AWARD FOR THE DEGREE OF MASTER OF BUSINESS
ADMINISTRATION PROGRAMME
IN
GUJARAT TECHNOLOGICAL UNIVERSITY
Under the Guidance of
Prof. Dr. Neha Mehta (LJ IMS)
Submitted by:
Saumil Verma & Darshil Shah
[Batch 2015-17, Enrollment no:- 157290592164 & 157290592129]
MBA SEMESTER 2/3
L J INSTITUTE OF MANAGEMENT STUDIES ,
AHMEDABAD

MBA PROGRAMME
Affiliated to Gujarat Technological University Ahmedabad
June & July , 2016-17

Company Certificate
This is to certified that Mr. Saumil verma & Mr. Darshil Shah Enrolment
No. 157290592164 & 157290592129 student of L. J. Institute of
Management Studies (LJ MBA), have carried out the reserach on the
subject titled on “Perception of Advisors Towards of E-Advisory” at “NJ
India Invest Pvt. Ltd,” under the supervision Mr. GAURAV SANGHAVI,
Branch Manager of Maninagar AhmedabadFrom 06/06/2016 To
30/07/2016. We also certify that, The above mentoined students have carried
the research work Satisfactory.

Declaration

We, Saumil Verma & Darshil Shah , Enrolment No. 157290592164 &
157290592129 student of L J Institute of Management Studies (LJ MBA)
here by declare that the repot for Summer Intership Programme entitled "
Perception of Advisors Towards of E-Advisory " in the academic year
2015-16. Is a result of our own work and indebtedness to other work
pubication, references, if any , have been duly acknowledged in this project
report.

Place : Signature :
Date: ( Student Name )
(Enrolment no)

Institute’s Certificate
(On separate page)

Certified that this Summer Internship Programme Report Title “ P erception of

Advisors Towards of E-Advisory ” is the bonafide work of Mr Saumil Verma
& Darshil Shah (Enrollment No 157290592164 & 157290592129 ), who
carried out the research under my supervision. I also certify further, that
to the best of my knowledge the work reported herein does not form part of any
other project report or dissertation on the basis of which a degree or award was
conferred on an earlier occasion on this or any other candidate.
____________________ Faculty Guide Name & Designation
_______________
Director
Date: _________________

PREFACE
We have got the opportunity to make for the project from NJ INDIA
INVEST PVT. LTD.
We have started looking for the project concepts and valuable guidance right
from Prof. Dr. Neha Mehta
Reading theories in the text book without tasting the practical
implementation into corporate context seems to be a distant dream to digest
the concepts whole heartedly. Fortunately I came in contact with some NJ
employees who assisted and co-operated me trough this learning odyssey of
Service quality domain.
ACKNOWLEDGEMENT
We are thankful to MR.GAURAV SANGHAVI, Branch Head Of
Ahmedabad-Maninagar, NJ INDIA INVEST PRIVATE LIMITED
for his motivational support and guidance with the help of which I
could make my summer internship report successfully.
We are highly indebted to Prof. DR. NEHA MEHTA OF L J
Institute Management Studies for her guidance, constant
supervision & their support in completing the Report.
We would like to express my gratitude to my DIRECTOR MR.
P.K MEHTA SIR who has given me the opportunity to prepare this
report.
We would like to express my special gratitude and thanks to all
Maninagar Branch team Mr. Ashok Karangiya, Mr.Rahul
Rachhadiya and Mr.Raviraj Khatri, the Sales Manager, both the
(CRO) CUSTOMER RELATIONSHIP OFFICERS Mr. Rohan
Patel and Mr. Parth Thakkar And last but not the least Mr.
Babubhai Parmar and Mr. Ashish Solanki for giving me such
attention and time.
We thanks and appreciations also goes to my colleague in
developing the Report and people who have willingly helped me
out with their abilities.

EXECUTIVE SUMMARY
One of the biggest reasons for investors to postpone their mutual fund purchase is the
paperwork involved in account opening and fulfilling of Know Your Customer (KYC)
form.
Online mutual funds platforms are therefore trying to tap these customers by either
minimizing the paperwork or making it completely online.
To make the mutual fund investment process convenient and faster, the online platforms
have been adding more and more features to their offerings.
A majority of new investors are using the online fund platforms to buy and sell mutual
funds, say industry players. Anyone who owns a demat account can also use these trading
accounts to do investments, which is more convenient. If anyone owns a net-banking
account, he/she can again transact in mutual funds through their respective banks.
These platforms let investors carry out all kinds of transactions that they would offline.
Other than just investing in mutual funds either in lump sum or via SIP, a person can also
mandate their companies to systematically transfer money from one fund to another fund.
Shrinking profit margins and paper work in a slowing economy are nudging independent
financial advisors to join online advisory platforms, ashift hastened by the growing
propensity of potential client to look for personal finance solutions online. Although there
is no official data to analyze, the advisor community claimsthe shift is taking place, with
online platforms such as njfundz being the popular one.
The job of the offline financial advisor has traditionally involved plenty of legwork –
from meeting potential clients, filling out paper forms and depositing cheques to
interacting with fund houses and tracking transactions. The process is usually lengthy,
involves heavy cost and is more often than fraught with problems-details entered in
cheques by some clients may be incorrect and they may not be easily available for filling
out a fresh one. Removal of entry load in mutual funds has further eroded margins. A
combination of these factors, along with a lackluster stock market over the last few years,
has forced many such independent financial advisors to rethink their business model.
The online platform also makes it easy for advisors to survey client overseas. Online
transactions eliminate human errors to a great extent, such as wrong scheme names on
cheques, incorrect and delayed submission. The online transaction model also helps
advisors recommend products that they could not offer online. For example, fixed
maturity plans are opened for a short period and it would not be possible for an advisor to
physically meet all clients in that period.
While the model gives investors more investment options, advisors get higher revenue
through sale of these products. Such platforms give advisors the opportunity to charge a
fee from clients, which typically advisors find it difficult to demand separ
CHAPTER 1
 INTRODUCTION
1.1 FINANCIAL MARKET:-

The Indian Financial Market

Economic growth and development of any country depends upon a well-knit
financial system. Financial system comprises a set of sub-systems of
financial institutions financial markets, financial instruments and services
which help in the formation of capital. Thus a financial system provides a
mechanism by which savings are transformed into investments and it can be
said that financial system play an significant role in economic growth of the
country by mobilizing surplus funds and utilizing them effectively for
productive purpose.
The financial system is characterized by the presence of integrated,
organized and regulated financial markets, and institutions that meet the
short term and long term financial needs of both the household and corporate
sector. Both financial markets and financial institutions play an important
role in the financial system by rendering various financial services to the
community. They operate in close combination with each other
The Indian Financial Market is one of the oldest in the world and is
considered to be the fastest growing and the best among all the market
economies. The history ofth Indian capital markets dates back 200 years
towards the end of the 18 century when India was under the rule of the East
India Company.
The Indian financial system is divided into two parts – organized and
unorganized. The organized sector constitutes of Private, Public and
Foreign-owned Commercial Banks and Cooperative Banks.
The unorganized sector comprises individual and family owned indigenous
bankers and money lenders and non-banking financial companies.

The Investment Options

In India the investor has wide variety of investment options available to him.
Economic wellbeing in the long run depends significantly on how wisely he
invests. Every investment option has two main aspects, i.e. risk and return.
The investor has investing options in capital markets of the country and also
in the financial institutions like banks and insurance companies. The various
tools of investments available to investors are as follows:
 Fixed deposit in banks form a major share in terms of the safest
investment in India. The most important reason for this is its ability to
provide reasonable returns & the money invested is locked in safely.
One  can always be assured of the returns. The time period for an FD
may range from 15 days to more than five years. The rate is a little
 higher, if you are above 60 years of age i.e senior citizen . The good
thing here is that your money invested will be safe & you don’t have
to worry about it all till the maturity period.  The returns earned are
taxable in this case.

 Another popular choice of people in the list of the best investment

options in India is Insurance Policy Investment. It has an attractive
feature that you can get profits which are risk free. Insurance policies
range from a variety of types & provide different types of coverage. 

 Public Provident Fund (PPF) is also a good option to invest money

securely for future periods. The primary reason is the high rate of
returns mainly for people who are under 30% tax brackets. The rate of
interest returns on PPF can be as good as 9%. However, the time span
of investment can be as high as 15 years. However, with almost no
risk options & good returns makes this a pretty feasible option to
choose.

 National Saving Certificate (NSC) is another investment options.

This option comes with six year time span & with the ease of
Government subsidies.

Hence, all these characteristics make this option secured in every

sense. A person can begin with as small as Rs.100/-. The rate of
interest is 8% which is calculated two times in one year. You can
benefit from tax deductions till up to Rs. 1- lakh on NSC returns.

 Mutual Funds is very popular investment options. They can prove to

be very fruitful if you make limited investments & generate a diverse
portfolio which can give high returns. If you want to enter into stock
markets & don’t wish to take unnecessary risks then this is viable
option. Also you can generate higher profits. It is an ideal way
investment if you want to diversify your risks & get good returns. A
diverse portfolio reduces the risk factors & prevents you from
complete loss of your investment. SIP (Systematic Investment Plan )
route is best way to enter into MF investment.

 Stock market is an good way to generate higher profits faster.

Though it is  one of the most risky investment options, yet it is the
finest option of all the best investment options.  However, there are
high risks involved & you cannot be assured of the returns every time.
 Hence, it is very important to understand the market properly. 

 Investment in GOLD is also considered safe bet but lower returns

because the market predicts returns from gold investment this year to
be parallel to possible rupee appreciation. This means there are fewer
chances to get good returns. 

 Real estate investment has always been attractive mode of

investment for most of the investors. Real estate investment as of now
is comparatively better in the two or three tier cities. One should
carefully consider the prices of the property before investing. If the
prices seem pretty good after consulting investment advisor then one
should go ahead with RE investments.

1.2 INTRODUCTION OF MUTUAL

FUND
The Indian financial system based on four basic components like Financial
Market, Financial Institutions, Financial Service, Financial Instruments. All
play important role for smooth activities for the transfer and allocation of the
funds. The main aim of the Indian financial system is that providing the
services to the capital market efficiently.
Mutual Funds in India are financial Instruments. A mutual fund is not an
alternative investment option to stocks and bonds; rather it pools the money
of several investors and invests this in stocks, bonds, money market
instruments and other types of securities. The owner of a mutual fund unit
gets a proportional share of the funds’ gains, losses, income and expenses.
Mutual Fund is a vehicle for investment in stocks and bonds. Each mutual
fund has a specific state4d objective. The fund’s objective is laid out in the
fund’s prospectus, which is the legal document that contains information
about the fund, its history, officers, and its performance.
A mutual fund is the ideal investment vehicle for today’s complex and
modern financial scenario. Markets for equity shares, bonds, and other fixed
income instruments, real estate, derivatives and other assets have become
maturely information driven. Price changes in these assets are driven by
global events occurring in faraway places. Typical individual is unlikely to
have the knowledge, skills, inclination and time to keep track of events,
understand their implications and act speedily. An individual also finds it
difficult to keep track of ownership of his assets, investments, brokerage
dues and bank transactions, etc.
Globally, there are thousands of firms offering even larger number of mutual
funds with different investment objectives. Today, mutual funds collectively
manage almost as much as or more money as compared to banks.

Concept of Mutual Fund

A mutual fund is essentially a mechanism of pooling together the savings of
a large number of small investors for collective investments, with an avowed
objective of attractive yields and capital appreciation, holding the liquidity
and safety as prime parameters. The money thus collected is then invested in
capital market instruments such as shares, debentures and other securities.
The income earned through these investments and the capital appreciations
realized are shared by its unit holders in proportion to the number of units
owned by them. Thus a mutual fund is the most suitable investment as it
offers an opportunity to invest in diversified, professionally managed basket
of securities at a relatively low cost.
One of the main advantages of mutual funds is that they give small investors
access to professionally managed, diversified portfolios of equities, bonds
and other securities, which would be quite difficult to create with a small
amount of capital.

Definition of Mutual Fund

A mutual fund is an investment vehicle that allows several investors to pool
their resources in order to purchase stocks, bonds and other securities.
Mutual funds are operated by money managers to invest the fund’s capital
and attempt to produce capital gains and income for the fund’s investors. A
mutual fund’s portfolio is structured and maintained to match the investment
objectives stated in the prospectus.
FLOW CHART OF MUTUAL FUNDS

HISTORY OF MUTUAL FUNDS

The mutual fund industry in India started in 1963 with the formation of Unit
Trust of India, at the initiative of the Government of India and Reserve Bank
of India. The history of mutual funds in India can be broadly divided into
four distinct phases

First Phase - 1964-1987

Unit Trust of India (UTI) was established in 1963 by an Act of Parliament. It
was set up by the Reserve Bank of India and functioned under the
Regulatory and administrative control of the Reserve Bank of India. In 1978
UTI was de-linked from the RBI and the Industrial Development Bank of
India (IDBI) took over the regulatory and administrative control in place of
RBI. The first scheme launched by UTI was Unit Scheme 1964. At the end
of 1988 UTI had Rs. 6,700 crores of assets under management
Second Phase - 1987-1993 (Entry of Public Sector Funds)
1987 marked the entry of non-UTI, public sector mutual funds set up by
public sector banks and Life Insurance Corporation of India (LIC) and
General Insurance Corporation of India (GIC). SBI Mutual Fund was the
first non-UTI Mutual Fund established in June 1987 followed by Canbank
Mutual Fund (Dec 87), Punjab National Bank Mutual Fund (Aug 89), Indian
Bank Mutual Fund (Nov 89), Bank of India (Jun 90), Bank of Baroda
Mutual Fund (Oct 92). LIC established its mutual fund in June 1989 while
GIC had set up its mutual fund in December 1990.
At the end of 1993, the mutual fund industry had assets under management
of Rs. 47,004 crores.

Third Phase - 1993-2003 (Entry of Private Sector Funds)

With the entry of private sector funds in 1993, a new era started in the Indian
mutual fund industry, giving the Indian investors a wider choice of fund
families. Also, 1993 was the year in which the first Mutual Fund
Regulations came into being, under which all mutual funds, except UTI were
to be registered and governed. The erstwhile Kothari Pioneer (now merged
with Franklin Templeton) was the first private sector mutual fund registered
in July 1993.
The 1993 SEBI (Mutual Fund) Regulations were substituted by a more
comprehensive and revised Mutual Fund Regulations in 1996. The industry
now functions under the SEBI (Mutual Fund) Regulations 1996.
The number of mutual fund houses went on increasing, with many foreign
mutual funds setting up funds in India and also the industry has witnessed
several mergers and acquisitions. As at the end of January 2003, there were
33 mutual funds with total assets of Rs. 1,21,805 crores. The Unit Trust of
India with Rs. 44,541 crores of assets under management was way ahead of
other mutual funds.

Fourth Phase - since February 2003

In February 2003, following the repeal of the Unit Trust of India Act 1963
UTI was bifurcated into two separate entities. One is the Specified
Undertaking of the Unit Trust of India with assets under management of Rs.
29,835 crores as at the end of January 2003, representing broadly, the assets
of US 64 scheme, assured return and certain other schemes. The Specified
Undertaking of Unit Trust of India, functioning under an administrator and
under the rules framed by Government of India and does not come under the
purview of the Mutual Fund Regulations.

The second is the UTI Mutual Fund, sponsored by SBI, PNB, BOB and LIC.
It is registered with SEBI and functions under the Mutual Fund Regulations.
With the bifurcation of the erstwhile UTI which had in March 2000 more
than Rs. 76,000 crores of assets under management and with the setting up
of a UTI Mutual Fund, conforming to the SEBI Mutual Fund Regulations,
and with recent mergers taking place among different private sector funds,
the mutual fund industry has entered its current phase of consolidation and
growth.

STRUCTURE OF MUTUAL FUND INDUSTRY

 Sponsor: The sponsor is akin to a promoter of a company as he gets
the mutual fund registered with SEBI. The sponsor is defined under
SEBI regulations as a person who, acting alone or in combination with
another body corporate, establishes a mutual fund. The sponsor forms
a trust, appoints the board of trustees, and has the right to appoint
the asset management company (AMC) or fund manager.

 Trustees: The mutual fund can be managed by a board of trustees or a

trust company. The board of trustees is governed by the Indian Trust
Act whereas a trust company is governed by the Companies Act,
1956. The trustees act as a protector of unit holders' interests. They do
not directly manage the portfolio of securities and appoint an AMC
(with approval of Sebi) for fund management. If an AMC wishes to
float additional or different schemes, it will need to be approved by
the trustees.
Trustees play a critical role in ensuring full compliance with SEBI’s
requirement.

 Asset Management Company: The AMC is appointed by trustees

for managing fund schemes and corpus. An AMC functions under the
supervision of its own board of directors and also under the directions
of trustees and SEBI. The market regulator has mandated the limit of
independent directors to ensure independence in AMC workings.
The major obligations of AMC include: ensuring investments in
accordance with the trust deed, providing information to unit holders
on matters that substantially affect their interests, adhering to risk
management guidelines as given by the Association of Mutual Funds
in India and SEBI, timely disclosures to unit holders on sale and
repurchase, NAV, portfolio details, etc.

 Custodian and depositories: The fund management includes buying

and selling of securities in large volumes. Therefore, keeping a track
of such transactions is a specialist function. The custodian is
appointed by trustees for safekeeping of physical securities while
dematerialized securities holdings are held in a depository through a
depository participant. The custodian and depositories work under the
instructions of the AMC, although under the overall direction of
trustees.
  Registrar and transfer agents: These are responsible for issuing and
redeeming units of the mutual fund as well as providing other related
services, such as preparation of transfer documents and updating
investor records. A fund can carry out these activities in-house or can
outsource them. If it is done internally, the fund may charge the
scheme for the service at a competitive market rate.

TYPES OF MUTUAL FUNDS

Various types of mutual funds categories are designed to allow investors to

choose a scheme based on the risk they are willing to take, the investable
amount, their goals, the investment term, etc.

 BY STRUCTURE
Open-End Funds
An open-end fund is one that is available for subscription all through the
year and is not listed on the stock exchanges. The majority of mutual funds
are open-end funds. Investors have the flexibility to buy or sell any part of
their investment at any time at a price linked to the fund's Net Asset Value.
Closed-End Funds
A closed-end fund has a fixed number of shares outstanding and operates for
a fixed duration (generally ranging from 3 to 15 years). The fund would be
open for subscription only during a specified period and there is an even
balance of buyers and sellers, so someone would have to be selling in order
for you to be able to buy it. Closed-end funds are also listed on the stock
exchange so it is traded just like other stocks on an exchange or over the
counter. Usually the redemption is also specified which means that they
terminate on specified dates when the investors can redeem their units.
Interval Funds
These schemes combine the features of open-ended and closed ended funds.
They may be traded on the stock exchange or may be open for sale or
redemption during pre determined intervals at NAV based prices.
1.3 BY INVESTMENT OBJECTIVES

Growth Funds
Aggressive growth means that you will be buying into stocks which have a
chance for dramatic growth and may gain value rapidly. This type of
investing carries a high element of risk with it since stocks with dramatic
price appreciation potential often lose value quickly during downturns in the
economy. It is a great option for investors who do not need their money
within the next five years, but have a more long-term perspective. Do not
choose this option when you are looking to conserve capital but rather when
you can afford to potentially lose the value of your investment.
As with aggressive growth, growth seeks to achieve high returns; however,
the portfolios will consist of a mixture of large-, medium- and small-sized
companies. The fund portfolio chooses to invest in stable, well established,
blue-chip companies together with a small portion in small and new
businesses. The fund manager will pick, growth stocks which will use their
profits grow, rather than to pay out dividends. It is a medium - long-term
commitment, however, looking at past figures, sticking to growth funds for
the long-term will almost always benefit you. They will be relatively volatile
over the years so you need to be able to assume some risk and be patient.
Balanced Funds
A combination of growth and income funds, also known as balanced
funds, are those that have a mix of goals. They seek to provide investors
with current income while still offering the potential for growth. Some funds
buy stocks and bonds so that the portfolio will generate income whilst still
keeping ahead of inflation. They are able to achieve multiple objectives
which may be exactly what you are looking for. Equities provide the growth
potential, while the exposures to fixed income securities provide stability to
the portfolio during volatile times in the equity markets. Growth and income
funds have a low-to-moderate stability along with a moderate potential for
current income and growth. You need to be able to assume some risk to be
comfortable with this type of fund objective.

Income Funds
That brings us to income funds. These funds will generally invest in a
number of fixed-income securities. This will provide you with regular
income. Retired investors could benefit from this type of fund because they
would receive regular dividends. The fund manager will choose to buy
debentures, company fixed deposits etc. in order to provide you with a
steady income. Even though this is a stable option, it does not go without
some risk. As interest-rates go up or down, the prices of income fund shares,
particularly bonds, will move in the opposite direction. This makes income
funds interest rate sensitive. Some conservative bond funds may not even be
able to maintain your investments' buying power due to inflation.

Money Market Funds

The most cautious investor should opt for the money market mutual fund
which aims at maintaining capital preservation. The word preservation
already indicates that gains will not be an option even though the interest
rates given on money market mutual funds could be higher than that of bank
deposits. These funds will pose very little risk but will also not protect your
initial investments' buying power. Inflation will eat up the buying power
over the years when your money is not keeping up with inflation rates. They
are, however, highly liquid so you would always be able to alter your
investment strategy.
OTHER EQUITY RELATED SCHEMES
Tax Saving Schemes
These schemes offer tax incentives to the investors under tax laws as
prescribed from time to time and promote long term investments in equities
through Mutual Funds.

Sector Funds
Equity funds that invest in a particular sector/industry of the market are
known as Sector Funds. The exposure of these funds is limited to a
particular sector (say Information Technology, Auto, Banking,
Pharmaceuticals or Fast Moving Consumer Goods) which is why they are
more risky than equity funds that invest in multiple sectors.

Index Funds
These funds have the objective to match the performance of a specific stock
market index. The portfolio of these funds comprises of the same companies
that form the index and is constituted in the same proportion as the index.
Equity index funds that follow broad indices (like S&P CNX Nifty, Sensex)
are less risky than equity index funds that follow narrow sectorial indices
(like BSEBANKEX or CNX Bank Index etc.). Narrow indices are less
diversified and therefore, are more risky.
Fund of Funds
Mutual funds that do not invest in financial or physical assets, but do invest
in other mutual fund schemes offered by different AMCs, are known as
Fund of Funds. Fund of Funds maintain a portfolio comprising of units of
other mutual fund schemes, just like conventional mutual funds maintain a
portfolio comprising of equity/debt/money market instruments or non-
financial assets.

ADVANTAGES OF MUTUAL FUNDS

Mutual funds have designed to provide maximum benefits to investors, and
fund manager have research team to achieve schemes objective. Assets
Management Company has different type of sector funds, which need to
proper planning for strategic investment and to achieve the market return.
 Portfolio Diversification: Mutual Funds invest in a well-diversified
portfolio of securities which enables investor to hold a diversified
investment portfolio (whether the amount of investment is big or
small).
  Professional Management: Fund manager undergoes through
various research works and has better investment management skills
which ensure higher returns to the investor than what he can manage
on his own.
 Less Risk: Investors acquire a diversified portfolio of securities even
with a small investment in a Mutual Fund. The risk in a diversified
portfolio is lesser than investing in merely 2 or 3 securities.
 Low Transaction Costs: Due to the economies of scale (benefits of
larger volumes), mutual funds pay lesser transaction costs. These
benefits are passed on to the investors.
 Liquidity: An investor may not be able to sell some of the shares held
by him very easily and quickly, whereas units of a mutual fund are far
more liquid.
 Choice of Schemes: Mutual funds provide investors with various
schemes with different investment objectives. Investors have the
option of investing in a scheme having a correlation between its
investment objectives and their own financial goals. These schemes
further have different plans/options
 Transparency: Funds provide investors with updated information
pertaining to the markets and the schemes. All material facts are
disclosed to investors as required by the regulator.

 Flexibility: Investors also benefit from the convenience and flexibility

offered by Mutual Funds. Investors can switch their holdings from a
debt scheme to an equity scheme and vice-versa.
Option of systematic (at regular intervals) investment and withdrawal
is also offered to the investors in most open-end schemes.

 Safety: Mutual Fund industry is part of a well-regulated investment

environment where the interests of the investors are protected by the
regulator. All funds are registered with SEBI and complete
transparency is forced.

DISADVANTAGES OF MUTUAL FUNDS

The mutual fund not just advantage of investor but also has disadvantages
for the funds. The fund manager not always made profits but might create
loss for not properly managed portfolio. The fund manager have own
strategy for investment to hold, to sell, to purchase unit at particular time
period.
 Costs Control Not in the Hands of an Investor: Investor has to pay
investment management fees and fund distribution costs as a
percentage of the value of his investments (as long as he holds the
units), irrespective of the performance of the fund.
 No Customized Portfolios: The portfolio of securities in which a
fund invests is a decision taken by the fund manager. Investors have
no right to interfere in the decision making process of a fund manager,
which some investors find as a constraint in achieving their financial
objectives.
 Difficulty in Selecting a Suitable Fund Scheme: Many investors
find it difficult to select one option from the plethora of
funds/schemes/plans available. For this, they may have to take advice
from financial planners in order to invest in the right fund to achieve
their objectives.

RISK INVOLVED IN MUTUAL FUND

The Risk-Return Trade-off: The most important relationship to understand

is the risk-return trade-off. Higher the risk greater the returns/loss and lower
the risk lesser the returns/loss. Hence it is up to you, the investor to decide
how much risk you are willing to take. In order to do this, you must first be
aware of the different types of risks involved with your investment decision.

Market Risk:
Sometimes prices and yields of all securities rise and fall. Broad outside
influences affecting the market in general lead to this. This is true, may it be
big corporations or smaller mid-sized companies. This is known as Market
Risk. A Systematic Investment Plan (―SIP‖) that works on the concept of
Rupee Cost Averaging (―RCA‖) might help mitigate this risk.
Credit Risk:
The debt servicing ability (may it be interest payments or repayment of
principal) of a company through its cashflows determines the Credit Risk
faced by you.
This credit risk is measured by independent rating agencies like CRISIL who
rate companies and their paper. A ‗AAA‘ rating is considered the safest
whereas a ‗D‘ rating is considered poor credit quality. A well-diversified
portfolio might help mitigate this risk.
Inflation Risk:
Things we hear people talk about: "Rs.100 today is worth more than Rs.100
tomorrow." "Remember the time when a bus ride costed 5 rupees?" The
root cause is, Inflation. Inflation is the loss of purchasing power over time. A
lot of times people make conservative investment decisions to protect their
capital but end up with a sum of money that can buy less than what the
principal could at the time of the investment. This happens when inflation
grows faster than the return on your investment. A well-diversified portfolio
with some investment in equities might help mitigate this risk.
Interest Rate Risk:
In a free market economy interest rates are difficult if not impossible to
predict. Changes in interest rates affect the prices of bonds as well as
equities. If interest rates rise the prices of bonds fall and vice versa. Equity
might be negatively affected as well in a rising interest rate environment. A
well-diversified portfolio might help mitigate this risk.
Political/Government Policy Risk:
Changes in government policy and political decision can change the
investment environment. They can create a favorable environment for
investment or vice versa.
Liquidity Risk:
Liquidity risk arises when it becomes difficult to sell the securities that one
has purchased. Liquidity Risk can be partly mitigated by diversification,
staggering of maturities as well as internal risk controls that lean towards
purchase of liquid securities.

Role of AMFI (Association of Mutual Funds in India)

With the increase in mutual fund players in India, a need for mutual fund
association in India was generated to function as a non-profit organization.
Association of Mutual Funds in India (AMFI) was incorporated on 22nd
August 1995.
AMFI is an apex body of all Asset Management Companies (AMC), which
has been registered with SEBI. Till date all the AMCs that have launched
mutual fund schemes are its members.
The Association of Mutual Funds in India (AMFI) is dedicated to
developing the Indian Mutual Fund Industry on professional, healthy and
ethical lines and to enhance and maintain standards in all areas with a view
to protecting and promoting the interests of mutual funds and their unit
holders.
It has been a forum where mutual funds have been able to present their
views, debate and participate in creating their own regulatory framework.
The association was created originally as a body that would lobby with the
regulator to ensure that the fund viewpoint was heard. Today, it is usually
the body that is consulted on matters long before regulations are framed, and
it often initiates many regulatory changes that prevent malpractices that
emerge from time to time.
AMFI working group on Best Practices for sales and marketing of Mutual
Funds under the Chairmanship of Shri B. G. Daga, Former Executive
Director of Unit Trust of India with Shri Vivek Reddy of Pioneer ITI, Shri
Alok Vajpeyi of DSP Merrill Lynch, Shri Nikhil Khattau of Sun F & C and
Shri Chandrasekhar Sathe, Formerly of Kotak Mahindra Mutual Fund has
suggested formulation of guidelines and code of conduct for intermediaries
and this work has been ably done by a sub-group consisting of Shri B. G.
Daga and Shri Vivek Reddy.

OBJECTIVES:
 To define and maintain high professional and ethical standards in all
areas of operation.

 To interact with the Securities and Exchange Board of India (SEBI)

and to represent to SEBI on all matters concerning the mutual fund
industry.
 To represent to the Government, Reserve Bank of India and other
bodies on all matters relating to the Mutual Fund Industry .

 To develop a cadre of well trained Agent distributors and to

implement a programme of training and certification for all
intermediaries and other engaged in the industry.
  To undertake nationwide investor awareness programme so as to
promote proper understanding of the concept and working of mutual
funds.

 To disseminate information on Mutual Fund Industry and to undertake

studies and research directly and/or in association with other bodies.

Securities and Exchange Board of India (SEBI)

Securities and Exchange Board Of India (Mutual Funds) Regulations,
1996 :
The fast growing industry is regulated by Securities and Exchange Board of
India (SEBI) since inception of SEBI as a statutory body.
SEBI initially formulated ―SECURITIES AND EXCHANGE BOARD OF
INDIA (MUTUAL FUNDS) REGULATIONS, 1993, providing detailed
procedure for establishment, registration, constitution, management of
trustees, asset management company, about schemes/products to be
designed, about investment of funds collected, general obligation of MFs,
about inspection, audit etc. based on experience gained and feedback
received from the market SEBI revised the guidelines of 1993 and issued
fresh guidelines in 1996 titled ―SECURITIES AND EXCHANGE BOARD
OF INDIA (MUTUAL FUNDS) REGULATIONS, 1996.
The said regulations as amended from time to time are in force even today.
The SEBI mutual fund regulations contain ten chapters and twelve
schedules. Chapters containing material subjects relating to regulation and
conduct of business by Mutual Funds.
1.4 Introduction of Company
“CREATING WEALTH, TRANSFORMING
LIVES”
Trust is important to building a healthy relationship, it is also vital in
growing new relationship and ensuring they last. This goes for personal and
business relationship, which is why we work hard at building trust with
people: including customers, employees, partners, suppliers and
communities in general.
NJ India Invest Pvt. Ltd. is one of the leading advisors and distributors of
financial products and services in India. Established in year 1994, NJ has
over a decade of rich exposure in financial investments space and portfolio
advisory services. From a humble Beginning, NJ over the years has evolved
out to be a professionally managed, quality conscious and customer focused
financial / Investment advisory & distribution firm.
NJ prides in being a professionally managed, quality focused and customer
centric organization. The strength of NJ lies in the strong domain knowledge
in investment consultancy and the delivery of sustainable value to clients
with support from cutting edge technology platform, developed in-house by
NJ.
At NJ they believe in …
 Having single window, multiple solutions that are integrated for
Simplicity and sapience.
 Making innovations, accessions, value-additions, a constant Process.
 Providing customers with solutions for tomorrow which will keep
them above the curve, today.

NJ Funds’ Network was established in year 2003 as a dedicated platform

offering comprehensive services and support to the independent financial
advisors.
The services offered by NJ Funds Network are increasingly recognized as
the best and most Comprehensive in nature. The scope, depth, and quality of
the services and support are unmatched in the industry.
NJ Funds Network is proud to be the pioneers in India in providing the 360°
Advisory platform to independent advisors. With this NJ managed to
successfullytransform the business of many independent financial advisors,
bringing them on equal footing or even better than the strongest competitors
in the industry.

Vision and Mission

Vision:
The vision of NJ group is to be the leader in businesses driven by Customer
Satisfaction, commitment to excellence and passion for continued value
creation for all stakeholders. This vision is at the cornerstone of everything
we do and has helped us grow and build the trust of our customers and
associates. The trust at the heart of our passion and the reason for our
success.

Mission:
They work towards building trusted relationship with our stakeholders, for
inclusive growth through constant process of innovation; time bound
implementation & execution of ideas and technological developments. They
stretch our means and go overboard to make sure that our clients'
aspirations, dreams and expectations are met with, through high service
standards.
CORPORATE GOVERNANCE
NJ realizes the importance of corporate governance and seeks to implement
the best practices for the same. They strongly believe that they have an
obligation or duty as corporate entities to all their stakeholders; from
employees, customers and vendors to business partners, authorities and
society at large. They aim to strike the right balance between minimizing
business risks while attempting to maximize business growth.
Corporate governance at NJ is based on the following main principles:
 Timely and strict compliance to all established rules, regulations and
guidelines.
 Building sound system of risk management and internal control.
 Timely and balanced disclosure and communication of all material
information.
 Transparency and accountability in all practices.
 Fair and equitable treatment of all its stakeholders including
employees, associates.
CONSUMER GRIEVANCES
The existing customers may approach NJ Customer Care Help Desk for any
queries / clarification that they may face in NJ. Also customers may E mail
NJ for any queries or grievances.
Help desk: 1800 200 0155. (Toll Free)
QUALITY POLICY OF NJ INDIA INVEST
NJ aims at providing high quality services on investment front through
systematic and professional approach backed by total management
commitment and team work. To achieve customer satisfaction at a cost that
represents value. They as a whole are committed to practice a policy “right
at the first time” and then continuous improvement in their action and
dealing.
Industry Profile
 Name: NJ India Pvt Ltd

 Established : Year 1994

 Industry : Financial Services

 Logo:

 Tagline “CREATING WEALTH, TRANSFORMING

LIVES”

 Type : Private

 Founder : Mr. Niraj Choksi

Mr. Jignesh Desai

 Head Office: Surat, Gujarat

 Area Covered: Whole India

 Offices: 106 Offices in 22 States (3 in Ahmedabad)

 AUMs: RS. 25000cr. +

 Division :NJ wealth advisor network
NJ reality services
 NJ insurance
NJ gurukul
 Websites:www.njwealth.in
www.njfund.com
www.njindiainvest.com
 The company currently has
 21,000 + NJ wealth partners
 106 offices in 22 states
 1200 + employees
 1,200,000 + investors
 22,000 crores + mutual fund AUM
 Presence in 4 countries (India, UAE, Mauritius & Singapore)

 Product Basket
 Mutual funds
 Insurance
 Portfolio Management
 Reality

NJ Businesses
NJ India Invest is engaged in many businesses, which are as follows:
 Distributors Network

 Asset Management

 Real estate

 Insurance Broking

 Global Wealth Advisory

 Information and Technology

  Training and Development

NJ Wealth – Financial Products Distributors Network

NJ Wealth - Financial Products Distributors Network is one of India's

leading and most successful network of distributors in the financial services
industry.Started in 2003, the NJ Wealth seeks to reach out to the common
man and extend the opportunity to create wealth through an empowered
network of financial product distributors – the NJ Wealth Partners. To its
Partners, NJ Wealth provides a full service, comprehensive business
platform with end-to-end solutions critical for success in financial products
distribution practice. With it's compelling set of offerings covering every
area of distribution practice, NJ Wealth has managed to successfully
transform the lives of many small and big distributors.
To the common man, NJ Wealth offers a comprehensive wealth
management platform with a wide choice of financial and non-financial
products. Backed by high levels of excellence in operational and service
standards, NJ Wealth offers customers of its' Partners with solutions that
truly makes a difference.
Driven by the strong vision of 'Creating Wealth and Transforming Lives', NJ
Wealth's constant endeavour is to build on the ideas that are meaningful &
effective in scaling business challenges, seizing available opportunities and
serving the interests of the customer.
The NJ Wealth family has grown steadily and today it has over 21,000+ NJ
Wealth Partners, spread across 94 branches in 21 states in India with over
9,70,000+ investors and over INR 21,500+ crores + of mutual fund assets
under advice. Irrespective of the numbers though, it is trust in us which fuels
the passion for creating solutions with excellence that touch many lives, day
after day.
The key offerings of the NJ Wealth Distributor platform is briefly mentioned
here.

Product basket
•Domestic mutual funds (all AMCs)
•Capital Markets - direct equity and ETFs
•Fixed Deposits of companies
•PMS products (Third party & NJ)
•Government/ RBI/ Infrastructure bonds
•Residential & commercial properties
Partner Services
•Dedicated Relationship Manager
•Marketing & Sales support
•Research support
•Training & Education support
•Dedicated Customer Care / Query management support
•Technological support, including online business / 'Partners Desk' with
CRM & Employee Management modules
Customer services
Online family "Client Desk" enabling single portfolio view of 'entire' wealth
portfolio Trading & Demat Account with online transacting & call-&-trade
service in mutual funds, direct equity & ETF

ASSET MANAGEMENT

NJ has ventured in asset management business with NJ Advisory Services

Pvt. Ltd., a group company, launching its discretionary PMS products.
At the heart of NJ Advisory Services is the idea to provide customers with
solutions that give them the freedom from active management of
investments while having an assurance that we would be doing so in the best
possible manner. Our conviction, matched by our passion and expertise, is
all about ensuring the peace of mind of the investor. The PMS products
currently offered are aimed at meeting investor's need for successful long-
term wealth creation by following strategies that control risk and optimise
returns in a mutual fund portfolio.
NJ Advisory Services leverages upon with its rich experience in portfolio
management with in-depth knowledge & expertise in mutual funds. The
decisions on the mutual fund portfolio also combine results of time tested
proprietary research models, extensive due-diligence of fund houses,
interactions with fund managers & internal risk controls. The defined
processes and smart use of technology further ensures that the investors are
offered with quality portfolio management and administrative services,
ensuring a complete peace of mind.
Products:

•Freedom Portfolio:
Objective: To stay invested in equity mutual fund schemes at all times,
deliver superior portfolio returns by selecting better performing schemes and
encashing on opportunities offered by markets.

•Dynamic Asset Allocation Portfolio:

Objective: To give better risk adjusted returns by deciding right proportion
of Equity and Debt asset classes from time to time, and selecting
consistently better performing mutual fund schemes.
Key customer services:
•Online Client PMS Desk with daily update reports
•Reporting on monthly, quarterly & annual basis through email and hard
copies
REAL ESTATE

The NJ Realty venture offers an integrated service model offering end-to-

end services to various stake-holders in realty program management &
execution. The idea is to associate with stakeholders and engage actively in
various stages of program management, viz. market survey, legal due
diligence, land acquisition, planning & execution of projects and managing
sales & distribution through NJ Wealth – Financial Products Distributors
Network.
Managing realty programs is a lengthy process replete with many challenges
right from program identification to marketing. As a developer, investor or
land owner, one may be keen to execute realty projects, but may not be
equipped with the right skill-sets, contacts, experience and/or know-how for
the undertaking. This is where NJ Realty can associate and help in shaping
up the realty programs. NJ Realty has acquired considerable experience in
program management and is also currently engaged in multiple programs
playing diverse roles.

At the heart of NJ Realty is the philosophy of sustainability and preservation

of environment. Going beyond words, NJ Realty seeks to keep environment
as one of the focal points in it's real estate business.

INSURANCE BROKING

NJ Insurance Brokers Pvt. Ltd., a licensed insurance broker by IRDA, seeks

to provide customers with comprehensive solutions catering to their
insurance needs.

At the heart of NJ Insurance is the strong vision for continued financial well-
being for customers - individuals and families, regardless of any
circumstances. The key is to offer 'right' advice which is unbiased and
customer centric and encompasses the right risk to insure, the right coverage,
the right product and at the right time. The idea to offer clients with
comprehensive solutions extends further to cover quality claim settlement
and other services.

NJ Insurance leverages from the rich experience of NJ group in financial

planning and investment management for customers. NJ Insurance Brokers
has appointed Certified Insurance Advisors (CIAs) who work with
customers in identifying, fulfilling & managing their insurance needs. NJ
offers a comprehensive basket of products both in life & non-life insurance
space and makes exhaustive use of technology to deliver great value to
customers.

Product basket:
•Life insurance products from leading life insurers
•General insurance products, especially Health, Motor & Personal Accident,
from leading general insurers

GLOBAL WEALTH ADVISORY

NJ Global Invest (Ltd.) is a new venture wherein NJ seeks to offer a Global

Wealth Advisory platform to advisors for offshore funds across the globe.

The vision at Global Wealth Advisory platform is to offer a single window

for investment opportunities across the globe to customers. The idea is to
bring to customers a wide range of offshore fund schemes (domiciled in
Mauritius, Luxembourg, Dublin and other jurisdictions), through advisors on
the Global Wealth Advisory platform. NJ Global Invest seeks to provide a
offshore fund distribution platform & offshore Portfolio Advisory services
under a B2B distribution model. NJ Global Invest also desires to offer
comprehensive order routing and trade settlement facility with support
services of client reporting & fees settlement.

NJ Global Invest, is a venture that leverages from rich experience & success
of financial products distribution business in India. Incorporated in
Mauritius, NJ Global Invest is set up an offshore fund distribution company
and is a licensed 'Investment Dealer (Full Service Dealer, excluding
underwriting)" by FSC, Mauritius.
INFORMATION TECHNOLOGY

NJ Technologies, is a latest venture by NJ wherein we aim to provide quality

technology solutions to businesses in a wide range of domains.

NJ started its journey in technology with the start of Finlogic Technologies

(India) Pvt. Ltd., a group company, in year 2000. The idea then was to
develop software applications to support the growing (financial services)
distribution business and manage the IT infrastructure. Over the years, the
captive IT team, gained strong domain expertise and skills in diverse areas
and technology domains. Today, Finlogic team boasts of over 270+
employees with skills & rich experience in product development, software
testing, infrastructure management, R&D, project management &
information security. The entire NJ Group's internal systems and
infrastructure is managed by Finlogic which also has developed many state-
of-the art, proprietary applications that power NJ's businesses.

NJ Technologies now seeks to leverage these in-house skills & expertise to

help other businesses find solutions for their business challenges. At NJ
Technologies, we are keen to adopt the latest and the best practices from the
industry in delivering solutions that really work for businesses.
Solutions for businesses:
•Infrastructure Set-up and Management
•Database Management
•Customized Application Development
•Software Quality Assurance
•Information Security

TRAINING AND DEVELOPMENT

The NJ Gurukul is a venture aimed at providing valuable training &

education support to the young, emerging talent pool in India. Started in year
2008, NJ Gurukul today offers a very wide range of training programs across
India in all major cities.
NJ Gurukul is about a vision that aspires to nurture the young talent in India
and to transform them into individuals with knowledge & skills for
employment and enterprise. With special focus on the financial advisors
community, NJ Gurukul today, is a leading provider of training programs in
the financial services industry. NJ Gurukul offers a wide range of training
programs by way of part / full time classroom sessions being conducted at
multiple locations across India. NJ Gurukul has an institutionalised, process
driven approach to training with focus on delivering uniformity in quality &
content.
The NJ Gurukul has a Board of Trainers with over 35 well qualified,
professional trainers empanelled across India for delivering training
programs. Within a short time, NJ Gurukul has trained over 35,000
participants in over 80 locations across India. NJ Gurukul is an authorised
Education Provider (EP) with FPSB India to deliver training for the
prestigious Certified Financial Planner - CFPCM Certification. NJ Gurukul
is also amongst the largest trainers of Mutual Fund Distributors in India.
Key Training Programs:
•Mutual Fund Distributors Certification by NISM for prospective NJ Wealth
Distributors
•Certified Financial Planner (CFPCM) Certification by FPSB India

MANAGEMENT TEAM
Mr. Neeraj Choksi & Mr. Jignesh Desai (R) are two first generation
entrepreneurs who began the journey of 'NJ' in 1994. The promoters of the
NJ Group were friends since their college years and the bond between Mr.
Neeraj & Mr. Jignesh has been instrumental in the success of NJ. Discussing
upon important things before taking any decision, is a habit that they have
followed ever since they shared their hostel room in Vidhyanagar, where Mr.
Neeraj was studying his management courses and Mr. Jignesh was into
engineering. They both have a complementary style of functioning that
augurs perfectly well for the business.
Driven by their passion for financial well-being of customers & the mission
for transforming lives, the promoters have successfully put NJ on the
forefront of innovation & growth. With a humble beginning from home, the
promoters have successfully shaped the group's forays into many diversified
businesses. Both believe that 'Trust' has played a very important role in NJ's
journey, and in every step that they have taken. The words of the promoters
aptly describes this journey of NJ – 'Built on Trust'.

MANAGEMENT TEAM AT HEAD OFFICE

MANAGEMENT TEAM AT MANINAGAR BRANCH

Department of NJ India Invest

 Sales Department
It is a primary department in NJ India Investment Pvt Ltd. There is a
different product available in the company’s product basket which is as
follows:
 Mutual Funds
 Reality
 Insurance
 TADA (Trading and Demat Account)

 Operation Department
It is department that supports the activity of Sales department to maintain the
flow of activities. The different activities in this department are:
 Transaction
 Registration
 Customer Care

 IT Department
It is the department which provides te4chnological support to the NJ India
Investment Pvt Ltd. The company named FinLogic Pvt Ltd provides
different technological platform to NJ. There are 500 employees working in
the head office at Surat.

 Human Resource Department

It is department that is crucial for managing manpower. NJ has a very fluent
department hat continuously works on managing manpower and provides
necessary facilities to the employees.

 Account Department
NJ has a separate accounts and finance department at its head office.

 Audit Department
There is a separate department of audit at NJ head office. The main work is
checking the performance of the account department. This department is
continuously engaged in analysis in different statements of the company.

 Marketing Department
Marketing department takes care of the marketing and promotional activities
of the company and its products. There is a separate department of
marketing at the NJ head office.

1.5 Introduction of the Topic

“Perception of advisors towards of e-advisory”
E-COMMERCE IN INDIA

Today, technology is something that has the power to change history in a very short time
and there are numerous industries which have changed their character. The most amazing
transformation is being seen in how we shop. The e-commerce industry in India is
expected to grow at 40% CAGR from US$ 5.9 billion in 2010 to US$ 34.2 billion in
2015. One interesting observation is that the e-commerce wave has come after we
became more comfortable with the social media sites. Today, the digital world has
penetrated every aspect of our lives, from ordering grocery, booking hotels, making
friends, buying homes, searching jobs, selling old items and of course finding your
spouse. To make things even better, we now have mobile devices connected to internet so
that we can do things at any time, anywhere. There are a number of factors behind e-
commerce boom and here are some key enablers and trends that you would like to
know...

 Rising household income and spending ability. Annual household income rising from
$2632 in 2005 to estimated $3823 in 2015.
 The rise of the great Indian middle class. Estimates for 2015 predict the share of
households under the bottom of the pyramid as 29% compared 64% in year 2006.
 Falling mobile & computing device prices, internet costs and the rise in internet
speeds. Internet penetration is up from 5m in 2000 to 140m in 2012 and estimated at
400m in 2016.
 Credit and Debit Card penetration increasing along with the value of transactions.
Together, they have risen from 4.5m cards in 1999 and expected to cross 420m in
2015.
 Phenomenal growth of mobile e-commerce. In 2016, mobile shopping likely to be 27
times of that in year 2012. Mobile shopping grew 800% in 2013 alone

CASE FOR ONLINE INVESTMENTS

In the use of digital technologies, financial services in India lags behind other categories.
Technology discontinuities such as the mobile Internet, cloud storage, automation of
knowledge work, digital identity verification and digital payments provide tremendous
opportunity to reinvent financial services. We are already seeing the change taking shape
in banking industry where innovative solutions are emerging that allow you to make
payments and transfer amounts. Today we can access information, compare and do
research in virtually any financial product. The scope of products which you apply for
and/or transact online today is larger than ever. The list is dominated by shares and
mutual funds at the top followed by fixed income securities, insurance, loans, credit
cards, etc. Since long we are used to having equity shares in the demat mode with online
trading facility. Now there is an increasing awareness and appreciation for the advantages
of going for online transactions in other financial products, especially mutual funds. To
start investing online through mutual funds, the investors need to have a "NJ E-Wealth
A/c" or Trading Account and Demat Account. While trading account is needed to
undertake transactions, the online demat account is needed to hold the securities in
dematerialised form.

EXPLORING POSSIBILITIES IN ONLINE INVESTING

Year 2015 saw the penetration of e-commerce to newer areas including health care,
groceries, education, governance in India. However, there is one big area which is still
relatively less penetrated – and its' “investing” online. Though, among investment
products, online investing or perhaps 'trading' in equities has been already there for some
time, its' suitability for retail investors has been in question.

Mutual funds, which is nothing but a vehicle to hold any asset class, is suitable for all
kinds of investors. While India had very long ago shifted fully to the demat holding
format for equities, mutual funds units are still being held by a vast majority in physical
mode. Today one can hold mutual fund units in demat format just like shares. One can
also very easily transact in mutual funds online.

While we are very happy to benefit from ease of doing our transactions online and also
fully understand the benefits of holding shares in demat form, a question must be asked –
why are we reluctant to take the next step of transacting online in say, mutual funds?

No one can doubt the below list of the advantages that transacting & holding mutual
funds and other financial products in online mode can offer...
 Any Time, Any Where Investing: freedom from dependence on your financial
advisor for processing transactions. With the advice, you can transact at your own
convenience within matter of few seconds. There would be no time or geographical
or mobility restrictions.
 Increased Accuracy & Efficiency: With freedom from paperwork, the chances of
physical rejections, errors, etc. is almost eliminated and the overall system /data
management gets much more efficient.
 Know Your Holdings: your actual holdings in the demat account can be easily and
 accurately known at any time at just one place. This becomes a big challenge when
the holdings are in physical format.
 Better Information flow: With every online transaction, you can track the status of
the transaction and also get instant alerts related to transactions requested. All
information will be easily available on the online account.

UNLOCKING THE BEHAVIOURAL REASONS

There is no doubt a big sea change in how the Indian customer has evolved with time.
Today he is not shy, afraid or illiterate to log on, create accounts, make posts, give orders
and make payments. But what is driving this behavioral change? Here are some pointers
that come to my mind...

 Need for Convenience: Ease, comfort, efficiency and time savingsby going online.
 Need for Choice: Availability is no longer an issue. Consumers can easily compare
and choose from the many options available.
 Need for Freedom: To be free from any dependence on physical stores, freedom
from mobility, time and geographical restrictions. Any one can now transact any time
and any where.
 Need for Control: Being online is also about having a sense of control in your own
hands at all times.
 Increased Confidence: Much improved confidence in online brands and payment
gateways.
 Increased familiarity with technology: With almost everyone being a Facebook
user, Indians are increasingly more comfortable with technology and are using same
across different platforms.

THE CHALLENGES

However, there are also challenges that the industry faces. The above numbers may look
very optimistic but the fact remains that in a huge country like India, the share of
organised retail online was only 0.3% compared to 8.7% of organised retail off-line and
91% of unorganised retail. There are also challenges of internet broadband speed which is
minuscule compared to the speeds in US, Japan or European countries. The infrastructure
and logistics is also a big challenge for the players. There are also questions whether the
ecosystem consisting of payment gateways, technology, skilled manpower, regulations,
supply chains, etc. can match up with the opportunity. The good news is that 2014 also
marked an inflection point in the Indian politics with the formation of the new
government. Clearly there is new found optimism and confidence. The government is
playing its' cards well with initiatives like Jan Dhan Yojana, Digital India, projects like
National Bill Payment System, National Optical Fiber Network, the focus on
infrastructure coupled with policy & procedural revamp efforts. The initiatives are today
laying foundation for a new, connected, efficient and digital India tomorrow.

What Exactly Do Online Investment

Advisory Services Offer?
Among the financial industry’s latest innovations are online investment services.

Essentially, these firms eliminate the costly in-person relationship between an investor and his or
her financial adviser by automating the process, thereby allowing more clients with less assets to
be serviced

profitably. Some of these services specialize in a particular area of financial expertise as opposed
to commandeering the financial adviser role all together. Either way, these online services, for the
most part, remove the person-to-person aspect of receiving investment advice, portfolio
management service, asset allocation analysis or other services of that nature.
NJ has ventured in asset management business with NJ Advisory Services Pvt. Ltd., a
group company, launching its discretionary PMS products.
At the heart of NJ Advisory Services is the idea to provide customers with solutions that
give them the freedom from active management of investments while having an
assurance that they would be doing so in the best possible manner. Their conviction,
matched by their passion and expertise, is all about ensuring the peace of mind of the
investor. The PMS products currently offered are aimed at meeting investor's need for
successful long-term wealth creation by following strategies that control risk and
optimise returns in a mutual fund portfolio.
NJ Advisory Services leverages upon with its rich experience in portfolio management
with in-depth knowledge & expertise in mutual funds. The decisions on the mutual fund
portfolio also combine results of time tested proprietary research models, extensive due-
diligence of fund houses, interactions with fund managers & internal risk controls. The
defined processes and smart use of technology further ensures that the investors are
offered with quality portfolio management and administrative services, ensuring a
complete peace of mind.

Every investor while investing wishes to maximise his returns while minimising his risk.
Asset Allocation and Superior scheme selection are time tested proven ways for doing the
same. But time and again it has been proven that for an investor to manage his asset
allocation and select superior schemes is extremely tough and difficult to execute due to
operational and behavioural reasons.

MARS (Mutual Fund Automated Portfolio Rebalancing System) tries to overcome

these issues for investors whereby they can manage their asset allocation and invest in
better performing schemes by the click of a mouse and maximise their returns. As the
process is system driven and operationally smooth, it also helps weed out behavioural
biases. MARS gives a wide array of portfolios to choose from to the investor based on
his risk appetite and periodically triggers portfolio rebalancing based on deviations from
the asset allocation of the model portfolio resulting in superior returns to the investor over
a period of time.

 NJ have created direct-to-consumer models to provide the basic elements of

wealth management advice, minimizing the traditional reliance on human
advisors and ultimately changing the fundamental economics and scalability of
underserved segments. They have done so by combining the basic components
of a wealth management offering with simple user interfaces, seamlessly
integrated and automated technology, lower pricing with greater transparency,
and client-relevant digital content.
  The changes in economics and scalability enable these players to reach client
segments that have traditionally been out of reach for wealth managers. The
firms have made it possible to bring investment advice to the masses and unlock
the large potential of those underserved segments.

 They believe their steps to streamline the client online experience, provide
greater transparency and improve the economics for the mass segments are
irreversible. While traditional firms will continue to focus on the wealthier
segments, those that also want to compete for the lower end of the market and/or
improve their clients’ digital experience will need to determine if and how to
adjust their offerings accordingly. All in all, this offers new opportunities for
expansion while challenging some of the aspects of the traditional advice model.

NJ E-WEALTH ACCOUNT WITH NJ

NJ India Invest Pvt. Ltd. a member of BSE & NSE and a registered DP with CDSL,
also offers the services of Trading Account & Demat account with many unique features
and benefits as listed below.

 Single Window Multiple Products– currently live segments are Mutual Fund &
Capital Market. Even bidding for IPOs can be done through NJ E-Wealth
Account.
 Multiple modes of transactions (Online, Call & Trade, Mobile App and even
Offline)
 Single access point for multiple AMCs and mutual fund schemes
 Inter AMC switch & STP is possible.

ADVANTAGES OF HAVING NJ E-WEALTH A/c SERVICE:

Avoiding physical transactions: Among the greatest advantages of having NJ E-Wealth

A/c is that you can completely avoid any physical transactions in mutual funds. Through
NJ E-Wealth A/c, you would be able to make virtually every type of transaction like
purchases, redemptions, switch, SIP and STP. Doing multiple transactions and inter
AMC switches would is also possible through NJ E-Wealth A/c.

Thus you save on time and efforts in filling form and form submission. With NJ E-
Wealth A/c, transactions can be done instantly through the online NJ E-Wealth A/c
Account, mobile application or through Call & Trade service.With online transactions
you would …

 Enjoy freedom to transact from anywhere, any time

 Save time & effort on form filling
 Avoid physical travel and submission process
 Ensure timely transaction processing and update on email /SMS
 Avoid manual mistakes of form filling and increase accuracy of transactions

CONSOLIDATION OF ALL HOLDINGS:

With a demat account, you would be able to see all your
actual holdings of securities at one single place. This would avoid any confusion and
cases of queries in terms of what your holdings are. You may no longer bother to collect
and store account statements. Further, in addition to mutual funds, your demat account
would also hold other securities like equity shares, bonds, ETFs, etc. One would also be
able to apply in NFOs and IPOs through the demat mode. Having a consolidated holdings
across different financial products would be challenge had things been in physical mode. 
Here are the advantages in brief...

 Avoiding hassles of remembering, tracking and consolidating investments

 Actual, real-time holdings in your demat account
 Single holdings statement across products like mutual funds, equities, bonds and
ETFs

SYNCHRONISATION OF INVESTORS INFORMATION:

One of the many problems of physical transacting is having to remember and manage
investor information across multiple AMCs. Quite often important investor details may
differ leading to many problems. Updating any such information proves very troublesome
for any investor. With NJ E-Wealth A/c, we are no longer worried about such non-
financial information and records as they are maintained at the single level and are
applicable for all your holdings.

 Standard investor information like bank details, contact information, nomination,

redemption payout mode, etc.
 Single window update of all investor related information.

SUMMARY
One of the biggest reasons for investors to postpone their mutual fund purchase is the
paperwork involved in account opening and fulfilling of Know Your Customer (KYC)
form.
Online mutual funds platforms are therefore trying to tap these customers by either
minimizing the paperwork or making it completely online.
To make the mutual fund investment process convenient and faster, the online platforms
have been adding more and more features to their offerings.
A majority of new investors are using the online fund platforms to buy and sell mutual
funds, say industry players. Anyone who owns a demat account can also use these trading
accounts to do investments, which is more convenient. If anyone owns a net-banking
account, he/she can again transact in mutual funds through their respective banks.
These platforms let investors carry out all kinds of transactions that they would offline.
Other than just investing in mutual funds either in lump sum or via SIP, a person can also
mandate their companies to systematically transfer money from one fund to another fund.

From the viewpoint of Advisors they consider it “In the online world, they can acquire
and service a customer anywhere in the world, as there are no geographical boundaries,”
Shrinking profit margins and paper work in a slowing economy are nudging independent
financial advisors to join online advisory platforms, ashift hastened by the growing
propensity of potential client to look for personal finance solutions online. Although there
is no official data to analyze, the advisor community claimsthe shift is taking place, with
online platforms such as njfundz being the popular one.

The job of the offline financial advisor has traditionally involved plenty of legwork –
from meeting potential clients, filling out paper forms and depositing cheques to
interacting with fund houses and tracking transactions. The process is usually lengthy,
involves heavy cost and is more often than fraught with problems-details entered in
cheques by some clients may be incorrect and they may not be easily available for filling
out a fresh one. Removal of entry load in mutual funds has further eroded margins. A
combination of these factors, along with a lackluster stock market over the last few years,
has forced many such independent financial advisors to rethink their business model.

In comparison, financial services websites reduce an advisor’s lag work to a one time
agreement with a client for an online account. The online platform also makes it easy for
advisors to survey client overseas. Online transactions eliminate human errors to a great
extent, such as wrong scheme names on cheques, incorrect and delayed submission. The
online transaction model also helps advisors recommend products that they could not
offer online. For example, fixed maturity plans are opened for a short period and it would
not be possible for an advisor to physically meet all clients in that period.

While the model gives investors more investment options, advisors get higher revenue
through sale of these products. Such platforms give advisors the opportunity to charge a
fee from clients, which typically advisors find it difficult to demand separately.

Chapter - 2
LITERATURE REVIEW
2.1 As on Project Full
1.Andrew, O.(2016).Is the twilight of the Robo advisor already at hand. CNBC

The article talks about the future of investing and they are expecting to have lots of competition.

These wed based platforms are easy to use tools to build and manage a diversified portfolio at a
low cost. The companies are investing huge amount in the robo technologies rather than doing
marketing and advertisement campaigns.

2.Bhasin, T. (2015). Online mutual fund platforms are fast and convenient. Business
Standard .

A majority of new investors is using the online fund platforms to buy and sell mutual funds, say
industry players. These platforms let investors carry out all kinds of transactions that they would
do offline. Other than just investing in mutual funds either in lump sum or via SIP, a person can
also mandate these companies to systematically transfer money from one fund to the other.

The platforms also have their research in place to help customer take informed decisions though
each one may do it differently. 

 It also shows customers funds that have received maximum investment in the current month to
let the person see what others are buying. All of these platforms also do risk assessment of
customers.

The recommendations can be tailored to their profile and/or goals. The key to their business of an
online platform is convenience and speed. You can view consolidated portfolio at the click of a
button. You can

Online platforms offer bouquet of services depending on the need of the customer. They are
evolving to be one-stop shop for all your mutual fund needs.

As mutual funds platforms are still evolving, all services are free of charge. These companies
earn commission from your investments.

3. Barnett, C. (2015). FinTech Trends: Wealth Management and The Rise of Robo Advisors.
Forbes

These technology-backed advisors were built on the premise that many of the activities
performed by a Registered Investment Advisor (RIA) can be replicated by advanced intuitive
software. They promise lower costs, simplicity and even the bonus potential of making investing
“fun”..Already the robo advisors have shown its significance in many developed countries. But
the process of creative destruction in the FinTech industry is happening so swiftly that it raised
questioning whether relatively new success stories like these can already be jeopardized by
competitive threats.

4. Kewen,w (2015) Journal of trust management

The article is about how buyers perceive the credibility of advisors in online market place. It says
the advisors credibility determines the persuasiveness of reviews. Much work has addressed the
evaluation of advisors credibility based on their profile. The study explains the misattribution
phenomenon and suggests that perceived expertise has close relationship with effective trust.

5 . Vyakaranam, N. (2015). Robo-advisers are ensuring advice for all. The Economic Times .
Robo-advisers have been a hot topic of discussion across the financial world. In the US
and other developed countries, they have made a serious dent in the market and have
been growing at a rapid pace. They essentially provide online, automated, algorithm-
based, wealth management advice.
Unlike traditional wealth managers, they do not have a minimum investment requirement
for providing advice. Robo-advisers are at the forefront of solving this problem by
delivering cost-effective, unbiased, customised, comprehensive and high-quality financial
advice to retail customers.
They not only solve the problem of access to advice, but also address other important
issues, such as lack of transparency and excessive product-centric approach, which
consistently plague the financial services industry. For retail customers, this is a welcome
change and a sure way to start securing their financial future with professional help,
irrespective of their asset size.
6 .Bearssley, B. (2015). bcg.perspective. Retrieved from Boston counsaltancy group.

About 75% of wealth management clients want interactive multi channels offerings and only 25%
of wealth managers provide customized advice online. What’s more sophisticated functionalities
that make use of big data and advanced portfolio analytics remain largely nascent.

The potential of digitization is significant. Wealth managers with an advanced- yet not leading
digital offering reduced attrition by as much as 5% , increased revenue from cross-selling
offerings by 2 to 5% and realized efficiency gains of 10 to 15%.

Instead of diluting the traditional wealth manager – client relationship, as many fear, digital
transformation enrich the quality of client service by improving the end to end experience

7. Mahesh, P. (2014). Asset management companies kit up financial advisors to guide

investors. Economic Times.The article says that competition heats up, the asset management
companies (AMCs) are increasingly equipping independent financial advisors (IFAs) with the
skills and financial tools to help them guide investors better. Instead of merely giving IFAs extra
incentives or running contests around new fund offers (NFOs), AMCs are now providing
infrastructure and skills to these financial advisors.

Many AMCs are now introducing the soft wares and tests and they do the psychometric
evaluation of these financial advisors. They used psychometric analytical tools to profile the top
50 IFAs and understand what helps them be successful.
8. shashikant, U. (2014). Financial advisors must be professionals or lose their relevance. E
wealth. The trust gap that exists between financial advisors and investors today arises from the
advisors' inability to establish to the investor that they are taking care of his money, as if it were
their own. The needs for professional financial advisors arise as the investors have less
knowledge of the market and limited amount of time. A professional is one who is willing to
state, in unambiguous terms, the services that he would offer. He reports, informs and
communicates transparently how his advice has added value.

The financial services profession, including banks, brokers and independent advisors, has done
precious little to establish these credentials. There are associations of mutual funds, insurance
agents and financial advisors, we still do not have a self-regulatory body for advisors that sets
standards and imposes a code of conduct and ethics, and penalises wrongful conduct.

9. Mahanti, A. G. (2014). The IUP Journal of Knowledge Management.

It says that firms and individuals has developed a variety of applications and technologies to
capture this knowledge for academic research and practical use. Knowledge Management (KM)
research has focused on its nature, concepts, framework, tools, functions and methodologies for
real applications of KM technologies.

The KM technologies are classified into seven categories: KM framework, Knowledge-based

systems, data mining, information and communication technology, artificial intelligence systems,
database technology, and modelling. As such, organizations are targeting KM to enhance their
efficiency and performance.

10. Moyer, L. (2014). Taking stock of automated Financial Advisors.

Unlike travel agents, online advisers are using computer models available on their
websites to tailor portfolios for individual investors and offering to manage those
investments automatically.
Most online firms are formed by investors of large tech firms.
These firms promise to save customers money by charging low management fees and
advisory avoiding pricy investment products. By contrast, traditional advisors develop
personal relationship with the clients but sometimes imports hefty management and
investment fees.
The online advisors can be good option who wants low cost advice about appropriate mix
of stocks and bonds. Also they are attracting high profile investment and are rolling out
new services to compete.
Online advisors often accepts client with relatively small amount of investments. These
advisors greets the visitors through a questionnaire aimed at knowing their appetite for
risk and based on this they make a portfolio for them considering their goals for
investment and risk tolerance capacity.

11. Dhiraj Jain, A. J. (2013). Asia Pacific Journal of Marketing and Management Reveiw ;
Vol 2 No 2, 2013; PP: 46-56.

The article is about the role of financial advisory in the area of wealth management. It
also talks about the scams and frauds conducted due to lack of the regulatory body.
A sub-committee of Financial Stability and Development Council (FSDC) was
constituted in December 2010 and is in the process of being finally formulated in this
regard. While the RBI and SEBI would be playing a dominant role, other regulators like
IRDA would be roped in whenever necessary and needed.

12. (Mahesh, Financial advisors take e-way to boost business, 2013)

The article talks about the benefits of online platform to the advisors to expand their
client base and the business. In the online world the advisors can acquire and service a
customer anywhere in the world as there are no geographical boundaries.
The ease to use the online platform and decreased paper work has reduced the advisor’s
burden and gave them convenience. Also the online platform has reduced the cost.
Investors are also happy, as they can review their holdings, restructure their portfolios
and modify transactions privately at the click of a button
.
2.2 PROBLEM STATEMENT
 To study the perception of advisors towards adaptability of e-advisory.

Chapter – 3
Scope Of Research
 3.1 RESEARCH OBJECTIVE

 To know the perception towards e-advisory of investment partners of NJ

India Investment.
 To study the improvements in the advisory field due to adoption of e-
advisory.
 To study about the loop holes in the advisory field and to know the possible
solution for the same.
 To know how the e-platform has changed the way the businesses are
conducted and they have contributed to the advisor’s work.
 To determine the strength of distribution channel of mutual fund.

3.2 Research Hypothesis

 H0: Advisors do not prefer e-platform as a mode of advising to the clients.
H1: Advisors do prefer e-platform as a mode of advising to the clients.

 H0: E-advisory will not be able to substitute the manual way of advising
and form filling.
H1: E-advisory will be able to substitute the manual way of advising and
form filling.

 H0: The ratio of number of queries raised have not decreased while
adopting the
e-advisory service.
H1: The ratio of number of queries raised have decreased while adopting
the
e-advisory service.
4. H0: E-advisory cannot reduce the personalized service which the
traditional or manual platform provides.
H1:E-advisory can reduce the personalized service which the traditional
or manual platform provides.

3.3 Research Methodology

SCOPE

 The research is carried out to know what the advisors perceive for the new
trend of advising through online platform and what will be its benefits to
them and to the investors.
 The research includes the study of habits of the advisors of using the
internet for various works and their adaptability to online platform to
perform their jobs.
 It also includes the study of the ratio of the clients of the advisors who have
the access to internet and also uses the e-advisory service.
 This research work does not include the study of behaviour of clients
towards investment neither it focuses on perception of advisors for
traditional methods of advising.

RESEARCH DESIGN

The research design for the project will be Descriptive, as the study will include
the information which is collected without changing the environment and it is not
truly experimental.
The study will involve a onetime interaction with group of peoples and data
collection using existing records.

SAMPLING

 Sampling units :The sampling units for the research are the Financial
Advisors.
 Sampling Size :The sampling size for the research is kept 100.
 Sampling method: Here I have used simple random sampling method. I
have randomly selected any advisor who comes to visit NJ Wealth Advisors
Network.
 Research instrument: The research instrument is Questionnaire.
 Research tools: SPSS Software,
T-Test
DATA COLLECTION SOURCES

 Primary data collection through questionnaire and

 Secondary data collection through various websites, newspapers, online
journals
 Websites of NJ India Invest Pvt. Ltd.
2. Websites of mutual fund in India
3. Business magazines

Time Budget:

- Estimated time frame for various activities allotted is mentioned in the below in
the table:-

SR No. Particulars Time allocated

1 Research proposal 4 days
2 Introduction of the Project 1 day
3 Industry Profile 3 days
4 Company Profile 4 days
5 Brief of Various Investment Avenues 5 days
6 Analysis and Interpretation 8 days
7 Survey (1 and 2 included)
7 days
 3.4 BENEFICIARY OF STUDY
 The beneficiaries of the study will be the NJ advisors who will get more
knowledge about the the e-advisory.
 The number of customer reach at a particular period of time will increase
and this will definetly help the advisors.
 Researchers will be benefited as their practical knowledge will increase
and it will also prove helpful to other students doing same type of research
work.
 Investors can increase their knowledge about this online platform and can
make necessary decisions for investments of their money.

3.5 LIMITATIONS OF THE STUDY

 The research is conducted in the Ahmedabad city and thus sampling units
will not be much dispersed.
 Sample size is taken 100 only as reaching more people in limited time
period is not possible.
 We had to carry on the research in very limited time period of one and a
half months.
 The respondents may not have filled the questionnaire genuinely and thus
they may give the bias responses. This may affect the result of the
research.
 The study confines itself to respondents of sub-distributor in Maninagar
branch only. Hence finding could not be relevant to other branch of NJ.
 CHAPTER 4
Analysis and Interpretation
AGE

AGE
Frequency Percent Cumulative
Percent
Valid 18 TO 25 8 16 16
25 TO 35 14 28 44
35 TO 50 20 40 84
ABOVE 50 8 16 100
Total 50 100

 From the above graph it can be said that out of total 50 respondents,
maximum respondents are between the age group of 35 to 50 years.
 QUESTION 1

Q1 DO
YOU
HAVE A
SMART
PHONE?
Frequency Percent cumulative
percent
0Valid YES 48 96 96
NO 2 4 100
Total 50 100

It can be interpreted that out of all the advisors surveyed, almost everyone of
them had a smart phone except for the few. Out of total 100%, 96% had the
smart phone and 4% didn’t.

QUESTION 2

Q2 Do you
use any
Applications
in your
mobile?
Frequency Percent Cumulative
Percent
Valid YES 41 82 82
NO 9 18 100
Total 50 100

 Among the 50 respondents surveyed 82% of them used the mobile

 apps it means that more than half the respondents avail this service
in apps.
This shows that the advisors make the use of internet for their daily
work .

QUESTION 3

Q.3 Are you

Using
applications
regularly in
your
mobile?
Frequency Percent Cumulative
Percent
Valid YES 34 68 68
NO 16 32 100
Total 50 100

QUESTION 4

Q.4 From
How Many
years are
you
partner of
N.J ??
Frequency Percent Cumulative
Percent
Valid 1 year 11 22 22
2 year 18 36 58
more then 16 32 90
 2 year
more then 5 10 100
5 year
Total 50 100

QUESTION 5

Q.5 Are
you aware
about the
“E-
Wealth”
account ?
Frequency Percent Cumulative
Percent
Valid YES 45 90 90
NO 5 10 100
Total 50 100

QUESTION 6

Q.6. which
transaction
you find
easy ??
Frequency Percent Cumulative
Percent
Valid physical 6 12 12
E-form 44 88 100
Total 50 100
 QUESTION 7

Q7.
Whether u
Find “E-
wealth”
Account
Easy ??

Frequency Percent Cumulative

Percent
Valid Physical 41 82 82
form
E-Form 9 18 100
Total 50 100

QUESTION 8

Q8. Do
You think
E-Form
are easy
process to
open
Demate
account ?

Frequency Percent Cumulative

Percent
Valid Yes 47 94 94
No 3 6 100
Total 50 100
 QUESTION 9

Q.9. How
many of
your
clients
have this
platform?
Frequency Percent Cumulative
Percent
Valid 0-10 % 6 12 12
11-20 % 22 44 56
21-50 % 14 28 84
more then 8 16 100
50 %
Total 50 100

QUESTION 10

Q.10What
are the
benefits of
the NJ E-
wealth
Account
platform?
Frequency Percent Cumulative
Percent
Valid Ease of 9 18 18
use
Time 22 44 62
 saving
More 8 16 78
numbers of
clients
reach
Inter AMC 1 2 80
Switch
STP/SWP 2 4 84
inter AMC
Mobile App 2 4 88
MARS 1 2 90
Others 5 10 100
Total 50 100 100

QUESTION 11

Q.11.
What can
be the
reasons
for your
client not
having
access on
E-Wealth
account?
Frequency Percent Cumulative
Percent
Valid Lack of 3 6 6
Infrastructure
Not safe 6 12 18
inconvenient 18 36 54
Risk of 0 0 54
system
failure
Lack of 16 32 86
knowledge
Others 7 14 100
Total 50 100
 QUESTION 12

Q.12. Do
you think
the
number of
queries
are less in
E-form
then the
physical
form?
Frequency Percent Cumulative
Percent
Valid YES 41 82 82
NO 9 18 100
Total 50 100

QUESTION 13

Q.13. Do
you think
E-
Advisory
will
reduced
the
physically
form
filling
process?
 Frequency Percent Cumulative
Percent
Valid YES 38 76 76
NO 12 24 100
Total 50 100

QUESTION 14

Q.14. Will
you
suggest to
your client
to open E-
wealth
account ?
?
Frequency Percent Cumulative
Percent
Valid YES 50 100 100
NO 0 0 100
Total 50 100
 CHAPTER 5
Conclusions
We feel very pleased to conclude our project. It was nice experience from
both part that is theoretical knowledge as well as practical aspect. The
mutual fund industry is still in growing phase in India.
With the help of this project We got the opportunity to meet new people,
made new contacts and relations. We have felt development in our
personality and grooming power. We can now present ourself with improved
confidence in front of audience.
With the help of project, We could know and understand the basic of share
market, mutual fund industry and how it worked. So We can say that Indian
mutual fund industry is slowly but surely is moving & shifting to higher
growth profile in nearest future.
The awareness of mutual fund product is also estimated to be quite low, and
less percentage of population invest in mutual fund .
NJ India is leading distribution channel of mutual fund in India. It has
developed a long term relationship and a profitable business with its team of
sub-distributors by providing excellent services and guidelines.

BIBLIOGRAPHY

1.Andrew, O.(2016).Is the twilight of the Robo advisor already at hand.

CNBC
2.Bhasin, T. (2015). Online mutual fund platforms are fast and
convenient. Business Standard .
3. Barnett, C. (2015). FinTech Trends: Wealth Management and The Rise
of Robo Advisors. Forbes
4. Kewen,w (2015) Journal of trust management
5 . Vyakaranam, N. (2015). Robo-advisers are ensuring advice for all. The
Economic Times .
6 .Bearssley, B. (2015). bcg.perspective. Retrieved from Boston
counsaltancy group.
7. Mahesh, P. (2014). Asset management companies kit up financial
advisors to guide investors. Economic Times
8. shashikant, U. (2014). Financial advisors must be professionals or lose
their relevance. E wealth
9. Mahanti, A. G. (2014). The IUP Journal of Knowledge Management.
10. Moyer, L. (2014). Taking stock of automated Financial Advisors.
11. Dhiraj Jain, A. J. (2013). Asia Pacific Journal of Marketing and
Management Reveiw ; Vol 2 No 2, 2013; PP: 46-56.
12. (Mahesh, Financial advisors take e-way to boost business, 2013)

ANNEXURE
“PERCEPTION OF ADVISORS TOWARDS OF E-ADVISORY”

 We, the student of MBA from L.J Institute of Management Studies , Ahmedabad is
undertaking a study on the above captioned topic as a part of summer internship
project work.

Name:
Gender : Male ( ) Female ( )

Age: □18 to 25 □25 to 35

□35 to 50 □Above 50
1. Do you have a smart phone?

[ ] Yes [ ] No

2. Do you use N.J Applications in your mobile?

[ ] Yes [ ] No

3. Are you Using N.j applications regularly in your mobile?

[ ] Yes [ ] No

4.From How Many years are you partner of N.J ??

( ) 1 year ( ) 2 years

( ) 5 years ( ) more then 5 years

5. Are you aware about the “E-Wealth” account ?

( ) Yes ( ) No

6. which transaction you find easy ??

( ) Physical ( ) Online

6. What you prefer to Open “E-Wealth” Account ?

( ) Physical form ( ) E-Form

7. Whether u Find “E-wealth” Account Easy ??

( ) Physically ( )E-Form

8.Do You think E-Form are easy process to open Demate account ?

( ) Yes ( ) No

9. How many of your clients have this platform?

a. 0 to 10% [ ] b. 11% to 20% [ ] c. 21% to 50% [ ] d. 51% and above [ ]

10. What are the benefits of the NJ E-wealth Account platform? (You can mark more than
1 option)

a. Ease of use b. Time saving

c. More numbers of clients reach d. Inter AMC Switch .

e.STP/SWP inter AMC f. Mobile App

g. MARS h. Others (please specify)__________

11. What can be the reasons for your client not having access on E-Wealth account?

a. Lack of Infrastructure b. Not safe c. inconvenient

d. Risk of system failure e. Lack of knowledge f.
Others_____________

12. Do you think the number of queries are less in E-form then the physical form?

[ ] Yes [ ] No

13. Do you think E-Advisory will reduced the physically form filling process?

[ ] Yes [ ] No
14. Will you suggest to your client to open E-wealth account ??

[ ] Yes [ ] No

16. Please give your valuable suggestions and feedbacks

______________________________________________________________________________
______________________________________________________________________________
_____________

Thank you...