Using third-party websites for Mutual Fund investing

There are several third party websites that offer investing in several mutual funds with just one login.

While some charge a fee, few others do not charge any fee and yet offer DIRECT plans.

This means that the third part website will virtually not get paid anything - either from the fund house or from the investor.

Now, this is something fishy.

Why will a company spend its time and resources and offer you FREE financial services.

Companies exist to make profit - right?

I am skeptic about their business models..

But as an investor, I feel it is extremly important to keep any and all your financial information secure and private at all times.

This means that I shall not share any personal information to any financial portal without understanding consequences.

PAN Card Numbers, Bank Account Details, Aadhar Card Details etc. is very dangerous if it goes into wrong hands.

Considering this, I will avoid any third-party websites that offer mutual fund investing.

I wonder why there will be any need to use a third-party app or tool when there are atleast two methods of investing directly.

Mutual Fund Registrars such as CAMS and Karvy MFS have good apps and websites from where you invest online.

Almost all Mutual Fund houses have their own official websites and official apps which are easy to use.

And if you are an advanced mutual fund investor with many folios across several fund houses, perhaps you can try creating a login with MF Utilities.

Some third-party tools that investors with MF experience would avoid are Kuvera, Groww etc.

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