People are getting more financially aware over time and hence the Financial advisory is a growing market but according to industry estimates[Reference], there are more than 1,300 RIAs (Registered Investment Advisors) and only 300 of them are members of the association of RIAs (ARIA) - who can officially / legally advise people for their financial matters. So there is a need for financial advisory but there is a limited number of people who can provide the advice. This demand/supply problem makes financial advisory a costly service and only a handful people can afford it and the rest of the people who are willing to get the advisory remain unguided or get the guidance from unofficial advisors which often results in loss of profit or loss of capital.

There are couple of solutions for this problem:

1. Get more RIAs to increase the advisory coverage so more people can get the benefit with less cost
2. More robo advisory platforms to achieve the scale needed to support the mass population of India
3. Make the RIAs more efficient so that they can focus on core advisory services and can help more people (increasing the advisory supply)

We can not control (1) and we think (2) is also not a very good solution until it is backed by good research, hence we are here to help the advisory market with the solution mentioned in (3).

How can we make RIAs more efficient?

To make RIAs more efficient, we propose a tool that streamlines data collection, document processing, and customer interactions. By automating these tasks, RIAs can focus on analyzing financial data and crafting tailored investment plans, reducing time spent on administrative work. This would allow RIAs to serve more clients effectively, boosting the overall supply of quality advisory services. Also this tool takes care of explaining back advice.