While more mutual funds are traded via online platforms, it is yet to be known whether those platform recommendations play a salient role in affecting investors’ decisions. Based on an examination of 1,295 mutual funds traded on online platform, the study finds that funds recommended by the platform receive a higher fund flow than those are not. However, choosing to invest in those recommended funds does not guarantee higher returns than investing in those without recommendations. Results revealed that the average investor values the platform recommendations when allocating individuals’ wealth, but it could not help investors make better investment decisions. The findings make contributions to the business activity of fund transactions and buyer behavior research by investigating the effect of platform recommendations on fund flow and performance.