Finpin, a brainchild of Truenorth Labs, was created to give everyone access to professional financial planning services that are usually available only to those in higher income brackets. Finpin provides a proprietary financial planning platform to help users analyze their financial present, outline an ideal future for their family and build personalised saving, investing and spending strategies. Finpin combines digital financial planning with a dedicated Certified Financial Planner (CFP) to offer a perfect balance of technology and compassion.
Financial choices have increased manifold, whereas the financial advisory industry has lacked in keeping up. It’s a tragedy that despite having the highest savings rate in the world, we feel deprived of quality financial advice. This amplifies the financial fatigue a household may experience while making decisions, that affect their long-term financial future. There are just too many variables and trade-off decisions that make long-term financial planning a complex exercise. Although there are a few financial calculators, there aren’t enough useful resources to help middle income households make sound decisions when it comes to long-term financial planning.
“Given the growth in household incomes and aspirations, now, more than ever is the time for people to start setting long-term goals and planning their financial future,” says the co-founder, Dhruv Arora.
Unlike existing money management websites/mobile apps that help consumers track spending, Finpin does not ‘auto-collect’ sensitive financial information, nor does it evaluate budgets or short-term spending. Finpin solely focuses on helping users execute authentic long-term financial planning to examine their financial aspirations.
To refresh the approach towards money management, and help users think beyond trading and returns, Finpin introduces four stage processes of financial planning:
1. Ezzy: Experience new age financial planning to create a plan in 10 mins.
2. XE: Create a detailed financial fingerprint of your lifetime cashflows.
3. Spottr: Finpin projection engine to spot financial deficits and excesses.
4. Jotz: Financial Action program and tracking.
When a new user logs in, CFP gathers information about where they are on their financial path, what their goals are, and identifies where their financial trouble spots may be – and then develops a series of steps for success. Finpin projection engine analyzes needs, desires, debt, assets, insurance and other cashflows to build a realistic action plan. The advisor then helps the user to implement the plan and track progress.
“Normally, the option of having a dedicated Certified Financial Planner is a luxury available only to a few privileged ones. Well, not anymore. finpin provides a dedicated certified financial planner along with anytime access to a powerful financial planning engine to everyone” says co-founder Apurva Parekh.
Finpin offers fee-only, long-term financial planning at an affordable price. Users can visit the official website and book their slot. Also note, finpin doesn’t sell or advice on financial products/securities.