Do It Yourself (DIY) accounts – a success or a myth?

Do it Yourself

Do it yourself (DIY) is the method of building, modifying, or repairing things, without the direct aid of experts or professionals. (as per Wikipedia)

Well, it’s the latest buzzword in town, where everyone wants to use services on their own. And as a matter of fact, service providers are offering accounts & services, with DIY embedded in that.

But how far is this true or successful?

Can someone in the financial space have a DIY account?

I was checking this with my team on the leads we generate & customers they interact, for our platform & services. For a starter, definitely DIY sounds happening, with an age group of 25 to 28, as they want to use services on their own.

But higher you go in terms of age (30+), lesser are the people wanting to do thing on their own. Why? Some of the interesting reason being;

  • Maturity, i.e. with age one understands the meaning of a professional advice.
  • Time, it’s just not possible to devote time to research products on a regular basis.
  • And above all, nothing comes Free, key driver for DIY customers 😉

From Investments point of view, DIY account can be helpful, if the platform is helping them to aggregate data, track investments & offer analytics. From logic point of view, data mapping & tracking does not help much, as it just offers an adrenal rush on seeing portfolio, go up or down. (market driven, mainly for equity & mutual fund investments)

Analytics is the ultimate driver, but to understand same, where one needs to either spend considerable time on research, asset allocation models, usage & analysis, or simply seek a professional help. Call is yours and once you seek a professional help, the DIY magic just disappears.

We at also offer a DIY account, as convincing the Millennials & “DIY Fans” doesn’t make sense at all. But it will make sense for them, as once they start using the platform as DIY, that finally they need a professional help, i.e. to upgrade to a full-service account.

Happy Investing!!!

Manoj Chahar
Founder & Storyteller at
Manoj is the founder of, with 15 years of corporate experience & expertise in financial markets. Manoj has corporate stints with Kotak Securities, IIFL group & Philips India. He holds an MBA (PGDM) degree from Symbiosis (SIMS) Pune.
His interests include birding & adventure activities.

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