FAQ

What exactly is 7Prosper?

7Prosper is your Personal Financial Adviser. We tell you exactly where to invest, how much to invest and when to invest to achieve your financial goals. We also advise on your insurance and loan requirements. The financial advisory service is driven by our intelligent algorithms - the Robo Adviser, which is not only affordable, but incomparable to to any human adviser. 7Prosper is registered with SEBI as Investment Adviser.

Is 7Prosper registered with any regulatory body?

Yes, 7Prosper is registered with Securities and Exchange Board of India as an ‘Investment Adviser’ firm as 'Seven Prosper Financial Planners' with registration number as INA000005622. 7Prosper acts in best interest of the clients recommending what is best for them as per their goals and risk taking capacity. We don't push products which makes us commissions as we don't make any commissions :) We charge you upfront fees for our services and help you save on huge amount of hidden commisions you end up paying for the so called 'free' services.

Is 7Prosper a stock broker?

No, 7Prosper is not a stock broker or a stock sub broker.

Is 7Prosper a mutual fund distributor?

No, 7Prosper is not a Mutual Fund Distributor with AMFI. 7Prosper only recommends and transacts only in direct plans of mutual funds thereby saving our clients distributor commisions which they incur on regular plans of mutual funds.

Is 7Prosper an insurance agent?

No. 7Prosper is a SEBI Registered Investment Adviser. We do not make any money on recommending you insurance schemes. Therefore, the insurance recommendations are truly unbiased and are in your best interest.

How is 7Prosper different from other online personal finance companies?

7Prosper is doctor for your financial health, while most of the other companies are chemist shops selling your different financial products. Legally, unlike most of the companies, SevenProsper is not a mutual fund distributor, neither a stock broker nor an insurance agent. Interest of all these types of companies lies in selling you the schemes which earns them more commission. SevenProsper is a registered Investment Adviser, where its our duty to act in your best interest and give you the right advice. We do not sell any products, hence there is no conflict of interest.

How can we contact you?

Please write to us at hello@sevenprosper.com or call us at +91-6361890620. Our team would be glad to assist you.

How do you make money?

We charge you yearly subscription fees for our financial planning services provided. We also help you in transacting in direct mutual fund plans through our platform powered by BSE Star MF at no additional cost.

Are there any hidden charges?

No. Absolutely no other charges. We earn only what we get directly from you. 7Propser doesn't get any commisions from Mutual Fund houses or Insurance companies. Neither we sell your sensitive data to make money. Your data is truly secured with us.

How is your Robo Advisor different from other Robo Advisors?

Our Robo Advisor is a financial planner in its truest form, which is designed to follow the five crucial steps of personal financial planning as described here. Most of the platforms which claim to be a ‘Robo Adviser’ are fundamentally a broker, distributor or agent providing basic recommendations on product they sell.

How is your Robo Advisor better than a human advisor?

Being a software driven adviser, our algorithm is capable of analyzing tens of thousands of schemes available in the market and prepare a personalized portfolio for you. Analyzing these many schemes is beyond human capabilities. Further, process of financial planning process is a very tedious process which involves significant efforts from a human due to which human advisers are bound to charge a very high amount for their services. Since there is no human intervention in our Robo Adviser, we are able to offer services better than a human financial planner at much cheaper cost.

Is the advice given by your Robo Adviser guaranteed to perform as expected?

Just like any other thing in life, nothing in certain in financial markets too. We apply the best possible techniques to recommend you a portfolio so that you achieve your financial goals. But, markets might change drastically over the years and your investments might not perform as expected initially. We minimize that risk by regularly rebalancing your portfolio.

Why do you charge money for advisory when most of the other companies advise for free?

As they say, "there is no free lunch". No service is truly free. Most companies out there are Mutual Fund Distributors registered with AMFI. These companies sell you regular plans of mutual funds which earns them distributor commission. The commission to them is paid by the mutual fund company from the investments you make with the company. These commisions can be as high as 2.5% of your investments per year. To avoid distributor's commission, you must invest through direct plans of mutual funds. Naturally, distribution companies are more inclined towards selling the schemes which makes them more commissions. 7Prosper is not a Mutual Fund Distributor. We are SEBI Registered Investment Advisers. We only recommend direct plans of Mutual Funds thereby saving you the hefty commissions you end up paying through regular plans. Hence, to act in your best interest we charge you an upfront fees which keeps our engine running to help you with your personal financial matters.

What are the different plans available?

Please refer to pricing section for different subscription plans available: https://www.7prosper.com/#pricing.

What is the recommended plan?

We recommend you to subscribe for our 3 year plan as yearly rebalancing is an integral part of financial planning.