Managing millions, making little: Can wealth management start-ups succeed?

Apps that can be used to invest in MFs, stocks, gold, etc, are attracting venture capital. But customers won't pay for the services yet, writes Deepsekhar Choudhury

Madhava Rao was convinced it was high time he started investing but didn't want to go through the hassles of dealing with an insistent financial planner. A friend told the 26-year-old about apps on which he could buy mutual funds and get financial advice without paying extra over his investment.

Groww, Paytm Money, MyWay Wealth, Kite, Coin, Orowealth, and Scripbox are few of the online wealth management and personal finance apps that have sprung up to cater for millennial investors who seek a DIY approach to financial planning. 

Google Pay, the united payments interface of Alphabet, is foraying into the