Anand Rathi, one of the leading financial services companies in the country, has launched LXME (read as Lakshmi) as the country’s first financial planning platform for women. The app is now live on the Play Store and Apple Store and aims to help women gain access to the knowledge and tools to make informed and independent financial decisions for themselves.
“The earning and investment journey of women is peculiar and different from that of men, and financial and investment conversations have been male-centric for far too long. LXME aims to cut through the clutter of this dialogue: women’s salary trajectories peak differently from men and their journey is likely to be interrupted by pregnancy, raising children and marriage, and hence require different financial advice and guidance. LXME takes all of this into account and provides women with an investing roadmap basis their goal growing their wealth or saving tax,” says Priti Rathi Gupta, Founder of LXME, and MD & Promoter at Anand Rathi Share and Stock Brokers Ltd.
Millennial women face unique problems when it comes to using traditional knowledge to decide their investment journey: today, women can choose to stay single, get married or have kids whenever they are ready.
They are actively taking up financial responsibilities like repaying student loans or buying a house or a car. With Anand Rathi’s expertise, LXME offers tailored mutual fund portfolios best suited for women investors.
The Platform aims at onboarding 1500 users till the end of FY19 and 25000 till FY20. LXME as a platform focused on driving financial awareness amongst women has launched a series of Financial Fitness Bootcamps across the city aimed to help women with the right knowledge and tools that will help them start their investment journey.
“The Financial Fitness Bootcamps held at various locations across the city invite women from all walks of life, helping them to create a positive and strong association with money and learn the art of money management as an essential life skill. We aim to provide financial education to thousands of women by the end of 2018, hosting 35 workshops during November and December,” says Priti Rathi Gupta.
Women are also traditionally more conservative investors than men. LXME aims to bridge the gaps between women and finance through education and curated money management tools.
Priti Rathi Gupta is the CEO of LXME and the Managing Director and Promoter at Anand Rathi Share & Stock Brokers Ltd. She has been associated with the Anand Rathi Group since 2004. What started as a business presentation at Harvard Business School has become India’s first financial planning app catering specifically to women that helps them invest independently. She aims to create, through LXME, a new wave of financially fearless women.
Being of the opinion that women are inherently good investors but have been left out of the investment conversation for far too long, Priti Rathi Gupta wants to end women’s reliance on their husbands, brothers or fathers to invest their money.
Lack of access to capital and the knowledge to be able to leverage it effectively still remains a large reason that prohibits women across the country from starting their own business, creating opportunities for their families, taking breaks when their lives demand it or taking a much anticipated luxury vacation.