Imetonia.com is the newest edition to the online financial services websites in India. The site, which plans to be launched this February, started by Raj Majumder, formerly in Morgan Stanley?s Private Equity department and also having worked with Infosys, specialises in equity research, investment advice, portfolio management, and broking. The CEO and founder of http://www.imetonia.com is now eagerly awaiting the start of his newest venture, which he believes, ?Unlike many other sites, this one is not very heavy on opinions. It is an unbiased website, which wants to get retail investors to look at investing from a fundamental perspective. Research and tools that are essential for an investor to figure out, which investment makes sense and fits into their portfolio is provided by us here. Price discovery is our flagship project and such a tool, which costs anywhere between Rs 50,000-60,000 in places like capitalonline, is provided by us at the subscription charge of Rs 3,500 itself.?
While the website is still in its beta stages, having browsed through it, one would initially notice no apparent difference between it and any other such website. However, as one navigates through the site, one will come across various useful tools from calculators to precise stock valuations. Some areas of the website are more technical than the rest and when probed about this, Raj explained, ?We will hopefully launch the site in the 1st week of February, along with a video demo explaining every aspect and angle of the site. We are also planning video tutorials for each step, so that we can achieve our main goal of wanting to reach out to an audience that does not know how to use these tools.?
Currently, most financial services websites are based heavily on transactions and hits, so much so that they are pushier and are almost like a sales pitch. Often the clients are sold any product that can be sold, with little regard for specific context or investment goals. Considering this, iMetanoia, will start with the client?s financial needs and work backwards, offering services almost similar to those of a financial planner.
Objectives
Starting a website related to investing is both an intelligent and an overtly risky venture during such financial times. And a website which requires subscription is all the more tricky, considering the fact that the Indian market is yet to grasp the concept of paying to view information online. However, with the key word being information, once can also be sure that during such times more than ever, people would be looking out for good information, useful tools and unbiased views on financial products. With so many murky situations having arisen over the last one year, one would not be surprised if people are now willing to move on from tips and trends to real knowledge and learning. This seems to be the key focus of the website as well, and it is being touted and promoted as the retail investor?s freedom tool. All things considered, while that might be stretching ones imagination, as an investor it is good to be able to come to one place that runs more on your money and for you than something funded by companies who will try to promote their own products itself. In this regard, having a subscription fee to use the website is a very smart move, as it eliminates pressure and biases almost completely.
Majumder describes the site?s main aim as educating investors. There are many e-books and articles present on the website, which are easy to read, understand, grasp and also provide investors with a thorough understanding of investing principles. ?These are for easy reading and even the layman would find these very simple to use and implement the investing tips provided. This is in tune with our philosophy to simplify things for the retail investor.?
The site is a perfect start for the uninitiated, as well as provides indepth insights, tools, ratios, graphs and the likes for regular investors. The blend of simplicity and complexity is the true highlighting point of the site. The calculators too are a little different in terms of calculations offered. However, that is not really good enough to justify ones joining the site. The parameters used to find stocks are interesting and the cluster-free interface is pleasant. One point that stands out from other websites providing financial services, is the fact that this site allows one to create an online portfolio, which the site not only helps you manage and keep track of, but, also constantly shows you the ratios your portfolio is in, and warns you if it is skewered too much towards debt, equity or any other area. This sort of financial planning and portfolio management is a rarity in the online world, for it does not attempt to push a view onto the customer but merely allows the customer to keep track of his/her exact investment conditions.
Majumder lastly reminds us, ?The services we provide are comparatively cheaper than anywhere else and this is not just a higher quality product but also a lower cost one. We also provide the last three years balance sheets of companies as well as other financial data. All of this information can also be graphed on the site as well without having to download it to an excel sheet.?
Metanoia is a Greek word that stands for paradigm shift of mind and captures the essence of the changes that the firm hopes to be a driving part of, which finally explains the complicated name of the site, which on first hearing, one would wonder it it?s an underground software site or a gadget rivaling the iPod. All in all, this is a very interesting site and investors should look at it before dismissing it completely, based on the fact that it isn?t free. It?s time for a change in the e-world as well and let?s see what the future holds for them.