Despite running India’s largest brokerage house, Zerodha founder Nithin Kamath has one regret. He has not been able to help his father, a retired executive from , to consolidate his investments and help him get rid of duds in his portfolio. The reason is that investments in stocks, mutual funds and insurance are spread across various entities.
“I’m sure many Indians must be facing the same problem, just like my dad. As a first step towards attempting to solve it, we are helping our customers have a consolidated family portfolio view across Zerodha accounts,” the billionaire stock broker said on Twitter.
Batting for the account aggregator network, which can
Indians to digitally access and share their financial data across institutions in a secure and efficient manner, he said hopefully, all banks, depositories and insurance companies would go live on the account aggregator framework soon.
He plans to then work on offering a consolidated portfolio view across all assets, including insurance and even provide an easy way to liquidate whenever needed.
While investors track asset allocation and concentration to stocks and sectors at an individual level, it is also important to track the portfolio risks at a family level.
“But getting an accurate family portfolio view is a nightmare. The person managing the accounts would have to cobble together
sheets and various other portfolio tracking tools and deal with data quality issues,” Zerodha said in a blog post.
The family portfolio view on the discount broking platform allows Demat account holders to add up to 10 family member portfolios with Zerodha accounts and track the consolidated portfolio through one account.