How safe is the money I invest through Goalwise?


“How safe is the money I invest through Goalwise? What happens to it once it leaves my account?”

These questions are foremost in the minds of our new users, as they should be. After all, you have every right to know what happens to your hard earned money behind the scenes.

Since transparency is important to us here at Goalwise, we decided to write this blog to answer these questions and address your concerns about the safety of your money. The 3 specific questions that users ask us are:

  • Is it safe to invest through Goalwise?
  • What happens to my investments if Goalwise shuts down?
  • How do I know if my transactions have been done correctly?

a) Is it safe to invest through Goalwise?

Investing through Goalwise is very safe.

As per SEBI regulations, all your investments made through Goalwise are held with the respective Mutual Fund directly in your name. At any point of time, you can choose to deal directly with the Mutual Fund company. It is your money and you retain full access to it, with or without Goalwise.

The company behind Goalwise, Alphafront Finserv Pvt Ltd, is an AMFI registered Mutual Fund Distributor. Goalwise, in a way, simply acts as an intermediary to process your transactions, and keeps track of which investments have been made in your name and where.

Your money does not pass through Goalwise’s bank accounts either at the time of investment or redemption. When you invest through Goalwise, your money goes directly to the Mutual Fund, via an RBI-approved payment processor appointed by Goalwise, and is assigned to your folio (account) with them. At the time of redemption, it is transferred from the Mutual Fund directly back to your bank account.

Additionally, all transaction portals that you interact with, including the Goalwise website and the payment gateway, are fully secured with 256-bit SSL encryption, which is the same online security standard that banks use.

You can rest assured that each transaction you make through Goalwise is bank-grade secure.


b) What happens to my investments if Goalwise shuts down?

In a nutshell, nothing. Your investments are secure with the Mutual Funds you invested in. You can access them directly, with or without Goalwise.

As mentioned above, all your investments made through Goalwise are held with the respective Mutual Fund directly in your name, for which Goalwise provides the respective Mutual Funds with necessary identifying details (such as your name, email id, and PAN card).

In addition to transactional communication that you receive from Goalwise, each individual Mutual Fund that you are invested in will also send you periodic account statements with all relevant account and transactional details.

For all transactions done on Goalwise, you will have access to all necessary transactional details, including the corresponding ‘Folio Number’. This will allow you to communicate directly with the Mutual Fund company about your investments, and you can access them even in the absence of Goalwise as an intermediary.

So, in the unfortunate circumstance that Goalwise shuts down, your money is readily traceable and in the safe hands of Mutual Fund companies.


c) How do I know if my transactions have been done correctly?

Each time you invest through Goalwise, you will either receive an email confirmation from Goalwise on the same day that you initiate the transaction (for one-time investments), or an SMS alert 3 calendar days prior (for SIP investments).

You will also receive a confirmation email from the individual Mutual Fund that your transaction request has been received, usually within 2 business days of initiating the transaction.

Within 5 business days of the execution of the transaction, the Mutual Fund will send you an account summary, which will list how many units of the fund you already hold, and how many you purchased or redeemed in your most recent transaction.

In addition to keeping track of your investments through your Goalwise dashboard and transaction center, Goalwise will also send you periodic statements of your accounts.

On top of that, there is an electronic Consolidated Account Statement (eCAS) of all Mutual Funds that is generated every month in which you conduct a transaction with a Mutual Fund, and is automatically sent to your registered email address. In case you don’t conduct a transaction for some time, the eCAS will still be generated half-yearly, and will be sent to you in April and October.

So there are multiple, independent channels for you to keep track of your investments.


We hope these answers address the above concerns about investing through Goalwise. If you have any additional questions, we are always just a phone call (+91-8586000247) or an email (contact@goalwise.com) away!