A few companies like Paytm Money today only offer direct plans—ORO wealth, Clearfunds, Bharosa Advisor. These companies manage assets under management of about Rs 100 to Rs 400 crore. They acquire customers digitally and offer advice digitally as well. But till now, they only have a couple of thousand users. And most of them charge a small flat fee or a subscription fee. “Paytm money will be targeted at the first time, low-ticket investor. Larger investors will continue to need a focused adviser or financial planner to help them through their decisions,” says Kunal Bajaj, founder of Clearfunds, for whom 30% of its customers are HNIs.