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Frequently Asked Questions

We’ve compiled a list of the questions we get asked the most often. To jump
to the section you’re most interested in, simply click on the section on
the left.To see the answer press one of the questions directly below.

General Questions

At the current stage, we are a free of charge service. However, once the platform is fully equipped with other features (that are currently under way), we will have an optional premium pricing plan in place.
There is no separate charge to be paid for mutual funds.
You will get proper account statements and transaction history for your records
Indian tax laws are applicable to the returns when investments are sold i.e. Short term capital gains tax on equity investments is 15% while long term (holding greater than 1 year) capital gains tax is currently NIL. Short term capital gains tax on debt investments is as per your tax slab while long term (holding greater than 3 years) capital gains tax is 20% with indexation benefit currently. Our recommendations and ongoing advisory takes these aspects in to account so that you have minimal impact.
FDs, PPFs and other traditional investment avenues may not be the best fit to your portfolio/requirements today. They are low yielding (PPF is currently delivering all of 8.7% p.a. return) and may be highly tax inefficient. They may also have higher liquidity constraints. All of these factors put together has given rise to simpler and more efficient products such as mutual funds.

Investment Related

Yes, you will be advised about portfolios that are fully directed towards tax savings, if that’s a goal you choose.
Once a transaction has been made, there is no possibility of reversing the transaction per se. However, if you do have a change of mind, as your trusted advisors we will be happy to guide you through the situation and suggest alternatives considering the tax and exit load implications that the underlying funds may have.
No, we do not access your bank account. We will only link your bank account for the purpose of secure payment gateway transactions, as and when you move money.
As per regulation, you may only invest from your own bank account. You cannot invest from any third party’s bank account even if the account belongs to your friends or family.
We research the entire mutual fund universe to arrive at a hand-picked portfolio customized for your specific needs.

Each of the mutual fund holdings in the recommended portfolio have been back tested for superior risk adjusted returns and have met our stringent qualitative parameters of selection. Note: We have relied upon the principles of modern portfolio theory, efficient frontier modelling as well as Monte Carlo simulations to arrive at the recommendations.
For details on our “Investment Policy Document”, please click here.

Operational

Our recommendations are backed by tremendous amount of research and are highly customized keeping your risk profile in mind. However, in the rare instance that you tend to disagree with our recommendations, you have the option to discard them and follow the DIY approach. However, we do suggest that you go the DIY way, only if you are an experienced investor.
The custody of your money is always with the mutual fund houses, and not with WA. WA only facilitates the transfer of money that you wish to invest from your bank to the mutual fund’s bank through the integrated secure payment gateway services.
Please click here to leave your contact information along with the nature of your question, and we will contact you within one working day.

Fee & Charges

Please write to the escalations team that works directly with the senior management. You will have a reply within 3 business days, or earlier.
While we are confident that you will not be disappointed with our services, in the rare instance that you wish to discontinue using the same, you can inform us via an email from your registered email id. It is our commitment to assist you with the transition within 7 working days of your request. As WA services are free and you are not paying anything to us, there will not be any refund of fee. We will arrange to share with you the status of all your investments and transactions through us for your complete records.
WA currently caters to resident as well as non-resident individual and joint account customers. We are in the process of adding corporate accounts.
No, the investor needs to consult their tax advisor and pay taxes on such gains as per their income tax situations.

Onboarding

STT is a central government levied tax and stands for ‘securities transaction tax’. It amounts to 0.001% of the transaction value at the time of sale of an equity mutual fund. This is automatically reduced by the fund house from the redemption value and need not be paid separately by the investor.
We strongly believe that the financial situation of each investor is unique and that warrants an investment plan that is tailored to the same. Therefore, as advisors, it becomes important for us to understand your needs before tailoring the investment plan for you. Based on your inputs, our algorithm makes recommendations suited to your specific requirements. Some of our future services will also take into account your inputs to help us serve you better and in a more relevant manner. Therefore, we urge our clients to go through the profiling procedure.
Yes, you have absolute freedom to select from one of the pre-defined goals or create your own goal as per your requirements. In either case, we will understand your specific needs and recommend a customized investment plan for you.

Others

This is a perfectly common situation and in such case you may opt for the pre-defined “general investing” goal. If you want, you are also free to create a custom goal.
KYC stands for “know your customer” and is a SEBI requirement that needs to be fulfilled before one starts investing with WA or anyone else. Under this, we need to ascertain your PAN, identity, address and bank account details to set up your account. If this has already been done prior through any agency, we will take the details from there and you need not go through the process again. If not done earlier, you will need to go through the process by...
Exit load is a charge levied by the mutual fund house in case investments are redeemed within a certain pre-defined period. These charges vary from one scheme to another. As your trusted advisors, we inform you of these details for each recommended scheme before you make an investment on WA platform.