Zerodha’s founder and CEO, Nithin Kamath, criticized rival platforms after Groww, a major Indian retail broker, began providing regular mutual funds through its subscription service, Groww Prime. Kamath mentioned that many platforms that launched similar offerings when Zerodha introduced its Coin platform have either disappeared or changed their focus. Despite this, Zerodha remains committed to offering direct mutual funds for free.
Following Groww’s expansion of its product range to include regular mutual funds on Groww Prime, Kamath emphasized that Zerodha’s pricing strategy has stayed consistent since pioneering the discount brokerage model in 2010. He highlighted the importance of offering direct mutual funds without charging commissions through regular plans, a principle that Zerodha has upheld.
Kamath also encouraged investors to verify if they hold regular mutual funds and assured Zerodha’s support in switching to direct plans if desired. In response, Groww stated that Groww Prime offers mutual fund recommendations tailored to individual risk profiles, investment timelines, and financial objectives. The service is optional and caters to customers seeking personalized recommendations.
