The Covid-19 pandemic made financial planning fintech services hunted by the public

ILLUSTRATION. fintech illustration. / 2017/01/04

Reporter: Maizal Walfajri | Editor: Handoyo.

KONTAN.CO.ID – JAKARTA. The pandemic brings blessings to the financial planning cluster fintech organizers. Not surprisingly, when economic uncertainty looms over Indonesia, people flock to use this digital financial innovation service.

Moreover, users can consult without meeting physically in the midst of social restrictions. PT Akselerasi Edukasi (HaloFina) has doubled its user growth every month. CEO & Co-Founder Halofina Adjie Wicaksana stated that during the pandemic, the life plan feature was mostly used by users.

He explained that this feature is financial planning with robo advisory technology and robo investment that can help users achieve their financial goals. Followed by the Finaconsult feature, although it is still officially operational for less than two months.

“Finaconsult has succeeded in attracting users to be able to consult finance with a Certified Financial Planner that they can choose from along with the available financial consulting modules. Until now, the most frequently asked questions when users of financial consultations at financial consultations are cashflow management & general financial analysis, “said Adjie to Kontan.co.id on Friday (2/10).

Adjie stated that the Halofina application can be downloaded for free. The HaloFina application features a life plan, financial intelligence test, finapedia and a zakat payment feature that users can enjoy for free.

Since 17 August 2020, Halofina has launched a financial consultancy feature in collaboration with ZAP Finance to provide digital financial consulting services. So that users can consult with a professional financial planner (Certified Financial Planner) starting from IDR 250,000.

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Not to be outdone, PT Chandharwealth Mandiri (FUNDtastic) also reaped blessings. Co-founder and Chief Investment officer of FUNDtastic, Franky Chandra, said users grew 56% from 16,000 in March to 25,000 users at the end of September 2020.

“This number of users does not include the number of Invisee users of 87,000, which will be combined into the FUNDtastic platform this October,” said Franky.

FUNDtastic recently acquired Invisee, which is listed as a Mutual Fund Selling Agent (APERD). This action makes it possible for FUNDtastic to sell mutual funds on the platform.

Franky sees a growth in total managed funds (AUM) collected on the FUNDtastic platform, where the total AUM funds have increased by an average of around 10-20% every month after being corrected during March to May 2020, when the Government issued a PSBB policy with the onset of the pandemic. .

Of the total increase in mutual funds, Franky said, many investors have placed their investment funds in money market mutual funds, which accounted for up to 70% of the total AUM funds on FUNDtastic. Meanwhile, the investment portions in equity funds and fixed income mutual funds reached 20% and 10% of the total AUM, respectively.

“The majority of our investors are millennial generation. We are quite happy to be able to support the government in increasing public financial literacy and inclusion, people are starting to realize the importance of preparing emergency funds. This can be seen from money market mutual fund products, which are the most popular products on the FUNDtastic platform, ”explained Franky.