When it comes to savings and investments, one of the key obstacles that secular investors face is financial awareness and knowledge. A number of government and private agencies run a range of campaigns to raise financial awareness.
Angel One has launched such an initiative called “Fin One”, which aims to make juvenile people aware of the possibilities of generating wealth through saving and investing.
Fin One aims to deliver infotainment content that engages, entertains and empowers, transcending geographic and socio-economic barriers. Content includes interactive quizzes and challenges that make learning about finance as engaging as scrolling through your social media feed.
READ ALSO | Gen Z should invest in PPF, mutual funds and insurance, says Professor Saumya Aggarwal of SRCC
In email interaction – said Paarth Dhar, vice president of novel development opportunities for Angel One MintGenie more about the initiative, what it involves and how the investment landscape will shape as juvenile investors join the investor population.
Edited excerpts:
Apart from spreading financial literacy among juvenile people, what are the main goals of launching Fin One?
In addition to spreading financial literacy among juvenile people, Fin One aims to create a tough financial literacy platform that supports informed decision-making for all demographics, especially the younger generation. The initiative aims to fill gaps in financial education, reduce the intimidation factor around financial topics and support a culture of conscious financial planning and investments.
Furthermore, Fin One aims to empower Indian youth to actively manage their finances, thereby contributing to broader economic stability and growth.
While teaching juvenile people the basics of finance, are you looking forward to promoting Angel One at the same time?
While Fin One’s primary focus is education, there is a strategic alignment with Angel One’s services. About 49 percent of novel demat accounts opened in the 9 months of FY24 at Angel One are under 25 years of age.
READ ALSO | The report shows that investors under 35 are the most financially savvy
By engaging juvenile people through financial awareness content, Fin One naturally introduces them to Angel One as a viable platform to apply their novel knowledge to real-world investing and saving.
Was any research or survey conducted before developing the Fin One concept?
Prior to the launch of Fin One, extensive research was conducted to understand the specific needs, behaviors and preferences of the target demographic – Gen Z and Millennials in India. The research provided insight into financial aspirations and challenges facing juvenile Indians.
These insights informed the creation of Fin One’s content strategy, ensuring that it is tailored not only to educate but also to effectively influence and engage the younger generation, thereby increasing the financial literacy of one billion Indians.
Can you share with us your thoughts on the future of Indian markets with many juvenile people joining the financial markets as investors in the next five years?
The participation of a huge number of juvenile investors in Indian markets over the next five years could significantly change the financial landscape. About 48 percent of Angel One’s customers are under the age of 25, indicating a sturdy group of juvenile people that the company aims to engage and retain in the long term.
This demographic tends to be more open to adopting novel technologies and creative financial products, which can lead to greater diversification and resilience in the market. Educated juvenile investors are likely to contribute to more active and sustainable market activity, promoting growth and stability.
There are two key elements to wealth creation – savings and investments. What will Fin One emphasize between these two?
Fin One will provide a balanced educational approach that emphasizes both saving and investing. Understanding the importance of saving is fundamental and is the basis for effective financial planning.
READ ALSO | Are you planning early retirement? How to build ₹10 crore corpus till age 52
However, investment education is equally vital, as it introduces the concepts of creating wealth over time and maximizing the potential of accumulated savings.
By educating juvenile people on both fronts, Fin One aims to equip them with a comprehensive understanding of the market in a fun way, promoting habits that support both immediate and long-term financial health.
Posted: May 17, 2024 08:58 EST
