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MyWealthJunction

About the client

Wealth Junction Consultants Pvt Ltd is a decade old financial planning and insurance brokerage company that helps individual and corporate customers on their financial planning for a secure future.

Challenge

Financial experts and agents at Wealth Junction Consultants were relying on face to face interaction with their potential customers to give information about their services and help them invest. This was an inefficient model since they had to accommodate their limited financial experts at the location and time slot as per the convenience of their clients.
Hence, they now wanted to move these operations to a web based platform with an intention of providing financial coaching to a large client base.

Solution

Given our vast experience in digital engineering, we at Pace wisdom took this project up with confidence and keen interest. After a few design discussions with Wealth Junction consultants, we decided to go in with a website that included the following features.

After taking bare minimum information from the users, a model financial plan was to be given to them that would help them achieve their short term, mid term and long term financial goals.

Generated financial health report(with the help of some tools designed by us) for the users and also provided various options available to them in terms of mutual funds and also showed the rating of each mutual fund

Provision to buy mutual funds directly from the platform

Our Approach

We were conscious about the extra data security that was necessary at the backend since money and personal details of the users were involved.
On the technical front, our architecture team came up with Springs MVC platform for Business layer, a reliable and flexible SQL database called PostgreSQL for the data layer and Angular 6 for the view layer to keep it light and modular.
On the operations front, we associated with Morning star to provide comprehensive ratings for the mutual funds in the market.

Features of the website

Despite the technical hiccups like integration with Bombay Stock Exchange (BSE), we came up with a well versed website that provides end to end wealth management solutions, in a span of six months. The diverse features available in the website are

Easy interface for users to plan their financial goals and get strategies from experts to achieve those goals. In-depth financial analysis is also provided.

Direct buying options for users where they can purchase bonds, mutual funds or even start a Systematic Investment Plan (SIP). All these facilities are purely paperless thus reducing most of the hassles.

Portfolio recommendations, risk analysis and unbiased financial suggestions are also provided

Retirement planning is also avilable at the website

Tax filing is made accessible on the website. Tax planning service is also available

Facility to make an e-Will easily

Digital locker to store all financial documents in digital form that can be accessed anytime and from anywhere

Success story

Today, over 38 Asset management companies of India have made their mutual funds available on Mywealthjunction.com. We consider it as a major win as we could gain their trust with our versatile website.

The website is a one stop solution for all financial needs of a person.The user base is growing larger with each passing day. It is gaining good reviews from its users for easy interface, neat presentation of data and DIY options.