WealthDesk Review – Top Features, Charges, Benefits, Baskets, Watchlist & more
Investing in stocks is gaining momentum as an incredible solution to add more funds to bank accounts.
However, many fear losing money because of the volatile stock market, lack of knowledge, and lack of time for in-depth market research.
What if you can invest in many stocks and ETFs with expert advice and without giving much heed to stock selection?
We introduce you to the Mumbai-based WealthDesk Basket Investing Platform. It has made attractive equity products accessible to retail investors at a single click.
Delve deep into this WealthDesk Review. Here, you can discover the basket investing platform’s details, such as the downloading and logging-in process, usage, benefits, charges, and more.
About WealthDesk Basket Investing
WealthDesk Basket Investing is about placing orders for professionally-advised WealthBaskets (baskets) containing direct equities and ETFs.
Leading SEBI-registered professionals curate each WealthBasket after taking them through a rigorous research and filtering process.
Pack-testing is also done for quant-based models. The stocks and ETFs in the WealthBaskets represent specific themes, investment strategies, or ideas.
Looking for an investment option that can protect you against market risk, let you diversify your portfolio, and provide higher returns at low cost?
In such a case, WealthBaskets by WealthDesk is your optimal solution.
Originating from in-depth qualitative and quantitative research from prominent RAs (research analysts), RIAs (registered investment advisors), and PMS (portfolio management services), WealthDesk has surpassed many other similar basket investing platforms by generating better market returns.
WealthDesk Basket Investing – Top Features
Read further to explore the striking features that you can leverage when using the WealthDesk Basket Investing Software:
Seamless order execution process: Investors can embark on the WealthBasket journey at WealthDesk in three simple steps.
First, they need to discover a suitable collection of stocks. Next, they can invest with their broking account. Finally, they can track their investments with regular updates.
Research-driven baskets: SEBI-registered investment specialists construct each WealthBasket after rigorous research and filtering. Pack-testing is also done for all the quant-based models.
Monitoring baskets: Advisors at WealthDesk watch your WealthBaskets. You can track your portfolio’s performance and key metrics on the software’s home page.
Rebalancing the portfolio: The stocks’ composition or weights in your basket can change according to market conditions or advisor’s investment strategies.
Whenever your portfolio changes, the platform sends you a request to approve or reject those changes. Once you agree, the software places a buy or sell order to rebalance your basket as per your order.
Re-ordering rejected orders: Your WealthBasket order might fail to execute in the first place. Rejections from the stock exchange or broker can cause failure.
In this case, the software moves them to the rejected list. You can retry executing the rejected orders. It will ensure the stocks in your basket match the advised portfolio.
Faster redemption: The platform facilitates highly liquid WealthBasket compared to mutual funds. These baskets stay in your demat account.
Unlike MFs, which take at least three working days to process, you can redeem baskets immediately. Also, dividends are automatically credited to your registered bank account.
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How to use the WealthDesk Basket Investing Platform?
This section outlines the step-by-step guide to using the WealthDesk Basket Investing Platform:
- Head to the WealthDesk official site. Here, you can sign in using the credentials of your existing broking account.
- Alternatively, newbie investors can sign up with the basket investing platform and pick a suitable broking partner when subscribing to WealthBasket.
- Once logged in, the platform asks users to create their investor risk profile. Using this profile, they can explore professionally constructed baskets.
- After picking a suitable basket, you can order by paying a small advisory fee.
- Once the order is placed, you can view and track the units and prices of individual stocks on the dashboard.
How to Download & Login to WealthDesk App?
The firm doesn’t own a dedicated WealthDesk App. However, it has collaborated with Share Market to render application-based services to the investors.
Following these steps is the keystone to downloading and logging in to the Share Market app and leveraging WealthBaskets expertise:
- Head to the App Store or Play Store, whichever is pre-installed on your device.
- Search for the Share Market app on the homepage.
- After finding the app, initiate the installation process.
- Open it once this 14MB app is downloaded and available on your phone’s screen.
- Type your phone number on the app’s home screen and request OTP.
- open your account by entering your email address and completing the KYC process.
- Once you set up your account, you will be logged into the Share Market app.
- Finally, you can start your WealthBasket investment journey.
WealthDesk Platform Charges
TheWealthDesk Platform Charges structure is not rigid. Hence, the company allows small, individual investors to earn funds. All you must incur is small advisory or management fees and brokerage charges.
The basket investing platform asks users to pay an advisory or subscription fee based on the investment amount for the basket they want to buy.
This fee can be at least 50 INR for a Rs.10,000 basket investment. The plus point is that it’s a one-time fee, and you must deposit quarterly or half-yearly.
Additionally, the platform levies standard brokerage charges, which can vary depending on your brokerage account with a specific broker.
WealthDesk can also deduct other exchange charges from your account. The firm levies these charges whenever you buy and sell stocks or ETFs.
Benefits of WealthDesk Basket Investing App
Below are the unique selling points of the WealthDesk Basket Investing App:
- The best part of this basket investing app is that investors don’t need to set up a separate account to invest in WealthBaskets. Instead, they can log in with their existing brokerage account credentials. However, the broker should be WealthDesk’s partner.
- Expert investment advisors will guide you to diversify your portfolio. It will protect your investment portfolio against market volatility.
- Investors need at least 1,000 INR to buy baskets or portfolios.
- The platform charges nominal advisory fees depending on the strategy model you apply. Moreover, there is no hidden costs.
- There is no specific lock-in period, enabling users to exit their WealthBasket anytime.
- You can redeem your WealthBaskets immediately whenever you wish. Moreover, you can automatically deposit your dividend into your bank account.
WealthDesk Basket Investing Platform Review – Conclusion
WealthDesk is an innovative basket investing, Mumbai-based platform that collects professionally advised stocks and ETFs in WealthBaskets.
Renowned certified investment professionals curate and manage these baskets or portfolios.
Interested users can invest in these portfolios only after logging into the dedicated platform. They must also deposit a certain subscription fee to place a basket order.
You can learn more about the functioning of this basket investing platform via WealthDesk Basket Investing Platform Review.
FAQs on WealthDesk Basket Investing App
Here are various FAQs related to the WealthDesk Platform.
How does WealthDesk work?
WealthDesk provides interested users access to attractive baskets or portfolios. These baskets contain well-researched, quality stocks and ETFs.
Investors can invest in these WealthBaskets in a single click. All they need is their existing broking account.
What are the Charges for using the WealthDesk App?
This basket investing app levies subscription or research advisory fees, which can vary per basket investment amount.
Investors must also deposit brokerage and other exchange charges, which your broker will specify.
How to use WealthDesk?
To use WealthDesk, users can visit the official site or log in to the Share Market app. Next, they can explore several WealthBaskets.
The final step entails investing in the desired baskets according to their financial capacity.
Is WealthDesk Good for Investing?
WealthDesk is perfect for investing. Its baskets undergo rigorous research and filtering processes, and an expert investment advisor monitors them for maximum protection.
Can I exit from a WealthDesk anytime?
There is no specific lock-in period; hence, users can exit WealthDesk anytime.
Is WealthDesk Thematic Investment Trustworthy?
WealthDesk has emerged as a trustworthy basket investing platform. It surpasses many similar platforms by helping investors generate better market returns.
What is the minimum investment amount in WealthDesk?
Investors need at least 1,000 INR to invest in portfolios via this basket investing platform.