Terms of Use



Terms & Conditions for Technology Platform & Execution Services

These terms of use (“Terms and Conditions”) mandate the terms on which the users (“You” or “Your” or “Client”) access and register on the website www.getsenda.com and/or mobile application ‘Senda’ referred to as, “the Platform” owned and operated by Finwell Technologies Private Limited (Finwell). Finwell shall also allow its
associates, group and subsidiary companies, together referred to as “Company” or “We” or “Us” to use the Platform as per their requirements.

Please read the Terms & Conditions carefully before registering on the Platform or accessing any material information through the Platform. The Company retains an unconditional right to modify or amend this Terms of Use without any requirement to notify You of the same. You can determine when this Terms of Use was last modified by referring to the “Last Updated” legend above. It shall be Your responsibility to check these Terms and Conditions periodically for changes. Accordingly, please continue to review the Terms whenever accessing or using the Platform. Your use of the Platform as defined above, after the posting of modifications to the Terms will constitute your acceptance of the Terms, as modified. Your use of the Platform on continuous basis shall signify Your confirmation to the changes and the agreement to be legally bound by the same.

Unless the context requires otherwise, the following expressions used anywhere in this document or any other document provided in relation to this document, shall have the following meanings:

“Financial Year” means the year starting from April 1 and ending on March 31 of the following year.
“Parties” means Finwell and the Client; and “Party” shall be construed accordingly.

“Person” means any natural person.

“Data” means all client’s current and future financial/business/ personal information required in the process of creating a financial health score.

“Senda” means the technology driven financial health platform of Finwell Through which Finwell provides financial wellness services. The expression shall include any other platform developed by Finwell for this purpose / related purpose.

I. Scope of Service

  1. Senda primarily provides financial wellness services by assisting the client in analyzing current financial situations, identification of their financial goals, providing insights to realize such goals, and providing insights towards insurance and risk coverage.
  2. Senda generates a Financial Health Score for the client which helps in understanding their financial well being.It also provides diagnosis of the user’s financial health.
  3. Senda will support the client to understand the key factors of various financial products and assist the client in choosing them.
  4. The scope of services of Finwell will not include any investment advisory or financial planning services.
  5. Finwell will act as an arranger to clients to sell/buy/switch the financial products and other allied services including but not limited to Mutual funds, Alternate Investments, Insurance, Loans, tax etc through its regulation. Partners terms are defined under Section IV – Functions of Finwell.
  6. Senda will provide available information on various financial products including features, functions, risk factors, past performance and other information pertaining to the financial products.

II. Declaration

A. By Finwell

  1. Finwell’s associate M/s Torus Digital Private Limited who are registered with SEBI as Investment Advisor having registration no: NSE:INA000017550
    a. Finwell will act as an arranger for Clients choosing for financial advisory services. The client will then be registered with Finwell’s RIA partner.
  2. Finwell’s associate M/S Arka Insurance Broking Pvt Ltd is IRDAI Registered Insurance Agent -Registration ID 585 and provides insurance intermediation services to its clients.
    a. Finwell will act as an arranger to clients to choose insurance products as per their needs and financial goals.
  3. Finwell’s associate M/S Arthayantra Corporation Private Limited is a distributor of mutual funds, registered with the Association of Mutual Funds in India bearing ARN 54840.
    a. Finwell will act as an arranger to the client for making transactions towards mutual fund products.

B. By Client

  1. Senda platform is an aid to help clients make financial decisions optimally. Client takes full responsibility for the interpretations and decisions.
  2. The client declares that he/she is above 18 years of age and is competent to contract.
  3. Finwell, in the course of providing its services to the Client, obtains and uses certain data derived from third-party entities. Finwell does not own or control the data as derived from such third-party entities and therefore in no circumstances guarantee the accuracy, completeness or adequacy of such data. All such data is being provided to the client on an “As Is” basis without any warranties with regards to the accuracy of the data. The client is responsible for its own due diligence while relying on any such third-party data
  4. The client hereby declares that the information provided to Finwell is true and correct. The client also understands that any inaccuracy / incompleteness of data may result in inaccurate / incorrect outcomes on Senda. Finwell cannot be held responsible for the insights in such cases.
  5. The client declares that he/she will go through all the insights provided by the platform and understand them clearly . He/she would accept the insights and then make informed purchases of the products on his/her own accord. Finwell will be an arranger.
  6. In case the client opens a transaction account and makes purchases on the platform on his/her own accord under the “make your own basket” section, he/she accepts that he/she is doing so without any suggestions from Senda
  7. The client agrees and accepts that the client’s employer has only facilitated this service as an employee benefit and will not be held liable under any circumstances for the services provided by Finwell.

III. Fees

A fee of INR.3000/- (excluding applicable taxes) is payable towards the annual subscription of the usage of technology platform and allied services provided. The fee shall be paid through electronic transfer or electronic payment mode from the client ‘s own bank account only. No payments in cash or third party payments will be accepted

IV. Functions of Finwell

Finwell primarily provides financial wellness services by assisting the client in analyzing current financial situations, identification of their financial goals, providing insights to realize such goals, and providing insights towards insurance and risk coverage through SENDA. Finwell acts as an arranger for mutual fund distribution services, insurance intermediation, loan facilitating and other allied services

The In-App products are selected using multi-dimensional non-linear methodologies. At the first level, the needs and capacity to fulfill the requirements of the customer are mapped out. These are then correlated to the product features of the relevant financial products that can meet the requirements

  1. Insurance example – if the client need has been identified for risk management through life insurance, the platform would provide insights on life insurance term policies that can deliver the sum assured requirement, easy claim process, high claim pay out, good customer service, optimal cost for the budget of the customer and more.
    Based on our insights, the client will be able to accept the same, purchase the recommended products through the platform in a non-discretionary model. The transaction is made possible by broker APIs that allow the client to log in directly to the third-party application through a secure layer powered by a third-party Insurance Broker. Confirmations are provided to the client and their dashboard updated
  2. Investment example – Based on our insights, the client will be able to accept the same, purchase the recommended products
    through the platform in a non-discretionary model. The transaction is made possible by broker APIs
    that allow the client to log in directly to the third-party application through a secure layer powered by
    a third-party Insurance Broker. Confirmations are provided to the client and their dashboard updated.
    b. Investment example – The platform has a risk questionnaire that identifies the behavioral risk biases
    of the client. We also measure the risk capacity of the client, combining it with risk assessment.
    Algorithms that use multiple criteria understanding the suitability of the client’s needs to the product
    parameter. For example, c risk appetite, risk capacity, maximum drawdown duration, maximum
    drawdown cash outflow, investment amount & more are considered in identifying the right asset
    allocation. The asset allocation covers multiple asset classes including large cap equity, mid cap equity, small cap equity, short term, medium term and long-term debt, commodities & the exposure that
    each client should have to this diversified portfolio.

Once the asset allocation is completed and the weightage is chosen, the best suitable fund or ETF that represents the asset class is recommended. There are multiple parameters used for selecting a fund. These include Minimum investment needed, number of stocks, concentration risk, entry load, exit load, sharp, sortino, volatility, standard deviation variance, alpha, Beta, correlation, adjacency overlap with other funds in the portfolio and more.

As part of the onboarding and registration process, the client will be provided with the ability to buy products on the platform, based on our insights. The client can also choose to buy it off the platform. The details of all off platform purchases should be updated manually on Senda. An option of only buying products on our platform is not available.

Senda identifies the goals and creates a personalized life map for the customer. The platform learns about the needs of the customer and their behaviors to those needs depending on their current financial situation. The identified goals can be modified or deleted, and new goals can be added

Performance monitoring is done whenever there is any change in client data. For investment products purchased through Senda, algorithms evaluate the portfolio drift of the client portfolios on a mark to market basis. When the thresholds of the portfolio drift exceed certain parameters, portfolio rebalancing is recommended. Some of the parameters used in determining the rebalancing event are portfolio variance, volume, signal thresholds, duration, tax impact, exit charges and more.

V. Risk Factors

  1. All security market investments are subject to market risks.
  2. Past performance of any security or financial products is not an indicative of future performance.
  3. We further request you to read and understand the policy wordings, offer documents / abridged offer documents of financial products/ services before making a decision.

VI. Validity of Services

The validity of the subscription to Finwell’s assessment services is 365 days from the date of subscription.

VII. Limitation of services

  1. Finwell may act as an arranger to clients in transacting in financial products through its regulated partner. However, Finwell would not provide assessment of the risks and opportunities of any of clients’ proposed investments or the exact investment management or advisory model
  2. The suitability of financial products to the client’s specific requirements has to be assessed by the client or through an investment adviser from time to time. Finwell services are limited to the product expertise and services allied to it

VIII. Suspension and Terminations

The Terms and conditions will continue to apply until terminated by either You or the Company as set forth below. If You object to the Terms and conditions or are dissatisfied with the Platform, your only recourse is to (i) close Your Account on the Platform by contacting us on care@getsenda.com; and/or (ii) stop accessing the Platform. In case you violate these Terms and conditions and/ or any applicable law, the Company may, at any time and in its sole discretion, terminate Your Account and/or prevent You from accessing the Platform and/or Platform Services
The Company may delist You or block Your future access to the Platform or suspend or terminate your Account if it believes, in its sole and absolute discretion that You have infringed, breached, violated, abused, or unethically manipulated or exploited any term of these Terms and conditions or anyway otherwise acted unethically. Notwithstanding anything in this clause, these Terms and conditions will survive indefinitely unless and until the Company chooses to terminate them. If You or the Company terminate Your use of the Platform, the Company may delete any Content or other materials relating to Your and the Company shall have no liability to You or any third party for doing so. However, Your transaction details may be preserved by the Company for purposes of tax or regulatory compliance
The Company, in consultation with its group, associates and subsidiary companies may modify these terms at any time

IX. Refund & Cancellation Policy

  1. If the Customer wishes to leave Finwell before they complete their subscription period,there shall be no refund of paid service fees.
  2. Refunds, if applicable, at the discretion of the Management, will only be made to the client’s bank account.

X. Disciplinary History

  1. No penalties / directions have been imposed by SEBI , RBI or any other regulatory body on Finwell
  2. There are no pending material litigations or legal proceedings, findings of inspections or investigations for which action has been taken or initiated by any regulatory authority against Finwell or the relationship manager or its Directors or employees under the SEBI Act

XI. Grievance and dispute resolution redressal

  1. All grievances can be resolved as per the grievance redressal mechanism of Finwell as per the regulatory guidelines
  2. All and any dispute arising out of or in connection with these Terms and Conditions, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in Hyderabad in accordance with the provisions of the Arbitration and Conciliation Act, 1996 for the time being in force at the commencement of the arbitration, which rules are deemed to be incorporated by reference in this clause. The Courts in Hyderabad alone shall have jurisdiction over all disputes arising out of or in respect of this arrangement. The client consents to the jurisdiction of the courts located in Hyderabad, India in this regard

This is a document containing key important information pertaining to the services. Please read the complete document carefully before accepting it.