Groww app is a perfect way to invest your wealth as mutual fund gives a satisfactory profit in your investment. Groww app is marked as number one rated app in google play stores and one of the investors trusted app with millions of happy investors. This gives an opportunity for every investors to diversify their investment among many stocks. You dont need to have knowledge about stock market as it's done by your broker, so you just have to select particular stocks generally a company and buy the units you want. Rest is handled by the broker of that mutual fund.
How does it work-
You invest on the particular company say X company, that company will have it's own professional broker to allocate the stocks or to select the stocks that will be profitable or with good potential, like so as you there will be other investors too their wholesome of your funds will be collected and Broker will select the numbers of stock he sees with potential and number of units will be allocated to its investors according to the investment amount the have paid, after the profit is made it will be distributed equally to the investors, expense ratio will be deducted as the broker will be inspecting the stocks so they will charge for their work.
If you dont want to give your profit to broker you can directly invest on stocks, index funds and so on. But you need little knowledge to invest on stocks and index fund is easy as investing in index funds means investing on countries economy.
Groww has even updated recently with the facilities of investiing in stocks before it was just a mutual fund app. For beginners mutual funds would be enough as it provides interest of about 12-30% comparing with F. D (7%) and savings(4-6)% but investing on stocks will lead you to a fortune, you dont have to share any of your profit it will be all yours.
On competition with groww there is paytm money which provides 1% higher return on every stocks. I say mutual fund is risky but isn't that risky as you have your risk appetite and you can choose your funds according to it, there are debt funds, equity funds and balanced funds.
