ICICI Direct launches life-stage investing tool LIFEY for customers

ICICI Direct has launched LIFEY with a dashboard, which will enable its customers to comprehensively track the progress of their goals and provides timely alerts

ICICI Direct, a leading domestic brokerage, has launched a life-stage investment tool, termed LIFEY, to help its customers better accomplish their investment goals. Life-stage investing is an investment style that is tied to four broad stages of life such as the start of a career, marriage, parenthood and retirement. An investor’s risk profile and investment horizon is different at different stages and thus the portfolio allocation has to be made accordingly.

“Every individual seeks to achieve financial freedom. In this journey there are ‘lifestage milestones’ – like owning a new car, purchase of a house, saving for marriage expenses, higher education for children or wealth accumulation for retirement. ICICIdirect, through the launch of this new tool - LIFEY, will help customers take a well-planned step forward in this direction. LIFEY will assist customers in smart asset allocation and construction of carefully curated portfolios primarily consisting of mutual funds based on fund selection by ICICIdirect’s research. The recommendations are data-driven, based on customer’s risk taking appetite, and aims to guide them in their financial journey,” said Anupam Guha, head of Private Wealth, ICICI Securities.

LIFEY also provides a dashboard, which will enable its customers in comprehensive tracking of the progress of their goals and provides timely alerts.