The Problem:

About 70% of Indians are financially insecure, meaning they won't be able to achieve their financial goals or face difficulty in meeting their necessary expenses. When it comes to investing, people often prioritize quick returns, leading them to take high risks in areas like F&O or crypto. This mindset has resulted in significant financial losses and created a fear of investing among many.

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The Inspiration:

As a solo founder, I witnessed this stark contrast while working at 360 One Wealth Management (formerly IIFL Wealth). I analyzed the investment portfolios of Ultra High Net Worth individuals and noticed how they maintained and grew their wealth compared to retail investors who often lost everything chasing quick money.

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The Journey:

I spoke to over 1,000 people from various backgrounds and locations. I found that those who had never invested feared losing their hard-earned money, while those who did invest often followed friends' advice or were influenced by social media "finfluencers." This realization led me to think of a solution that would guide new investors and help those who took risky bets to achieve their financial goals systematically.

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The Solution:

Miles Wealth was born out of this need. We offer personalized mutual funds tailored to each user's risk tolerance and financial goals. By understanding our users' financial situations, we recommend an asset allocation strategy followed by the wealthy and advise on funds that best suit their goals and risk tolerance.

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Why Mutual Funds?

We focus solely on mutual funds because they are professionally managed, well-researched, regulated, and follow set guidelines. Our expertise lies in analysing 1000s of mutual funds and then shortlisting funds that best suit our users' needs.

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Our Approach:

1. DIY Platforms: Require adequate investing knowledge, often leading to inefficient portfolios.

2. Investment Advisers: Good but often don't offer services to low-savings individuals or charge hefty fees.

3. Miles Wealth: We earn our revenue from commissions paid by mutual fund companies, so our customers don't have to pay us anything. Our revenue is directly linked to our users' portfolio growth, aligning our interests with theirs.

 

Our Progress:

So far, we have had over 350 users on our platform and over 35 lakhs in AUM. If you're looking to build wealth, you're most welcome to Miles Wealth. You can start investing with as low as 99 rupees, but for a personalized portfolio, we suggest investing 5,000-10,000 rupees monthly.

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Our Mission:

We are here to help at least a million Indians become financially secure. Hit the download button & give us a try—it's free.

Join us on this journey to financial freedom!