Angel One Invests ₹250 Crore in Wealth Management Arm

Angel One infuses Rs 250 crore into wealth management arm

Angel One Wealth will use the funds to enhance tech infra, leverage AI and analytics, and expand Angel One's presence in key markets. Angel One Wealth plans to develop curated, expert-led product strategies and suites, the company said on Wednesday.Mumbai-based stock broking firm Angel One has invested Rs 250 crore into its wealth management arm, Angel One Wealth, to cater to the expanding population of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in the country. The investment will be allocated to enhance technological infrastructure, leverage artificial intelligence (AI) and analytics, and expand the firm's presence in key markets. Additionally, Angel One Wealth plans to develop curated, expert-led product strategies and suites, the company said on Wednesday. "We want to reimagine wealth management for India's HNIs and UHNIs on the bedrock of deep domain expertise and the power of technology. We are happy to have the strategic backing of Angel One in this journey, leveraging their technological prowess," said Srikanth Subramanian, managing director and chief executive officer of Angel One Wealth. "We are building an omnichannel solution that will enhance the value of a trusted wealth manager through digital infrastructure and new-age technology." Angel One Wealth operates through three main verticals: HNIs, UHNIs, and alternative assets. The capital infusion will enable the firm to offer investment products across asset classes, provide technology-driven client accessibility, and support clients through relationship managers, it added. The team includes around 60 wealth managers, investment professionals, and tech experts. The firm has also established an advisory council, featuring industry leaders, a think tank, a product approval committee, and an investment committee. In March, Angel One brought on board seasoned wealth managers Shobhit Mathur and Dharmendra Jain as cofounders of Angel One Wealth, alongside Subramanian. The firm offers personalised investment advisory, portfolio management, and financial planning services using advanced analytics and technology. Clients have access to a broad range of investment products, including equities, bonds, mutual funds, and alternative investments, tailored to the specific needs of HNIs and UHNIs. "Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and staying at the forefront of innovation. The seasoned investment professionals' team, led by Srikanth, brings strong domain knowledge and enables us to capitalise on the evolving wealth landscape," Dinesh Thakkar, chairman and managing director of Angel One said. Additionally, Angel One was recently in the news for a mass data breach, exposing the personal information of approximately 7.9 million online customers on a hacker forum.

Angel One invests Rs 250 crore in wealth management arm

Angel One Wealth has three business verticals, including HNI (high net-worth individuals), UHNI (ultra HNI) and alternate assets, it said. It can be noted that some of its peers, including IIFL, already have successful wealth management arms. The Angel One statement said there has been a rapid increase in the HNI population in the country, and is pegged to grow 16 per cent every year to 16.5 lakh by 2027. Brokerage Angel One on Wednesday announced a Rs 250 crore investment into its wealth management arm with an eye to capitalize on the growing affluence in the country. The capital will be deployed to develop core technological infrastructure, leveraging AI and analytics, expand presence in key markets and develop product strategies, as per an official statement. Angel One Wealth has three business verticals, including HNI (high net-worth individuals), UHNI (ultra HNI) and alternate assets, it said. "Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and staying at the forefront of innovation," Angel One's chairman and managing director Dinesh Thakkar said. It can be noted that some of its peers, including IIFL, already have successful wealth management arms. The Angel One statement said there has been a rapid increase in the HNI population in the country, and is pegged to grow 16 per cent every year to 16.5 lakh by 2027. The company will offer investment products across asset classes, technology-driven accessibility for clients and support of relationship managers to the clients. The statement said it has put in place a 60-member team of wealth managers, with an average age of 32 years. It has also put in place an advisory council, a think tank, a product approval committee and an investment committee.

Angel One invests ₹250 crore in wealth arm

Angel One has infused ₹250 crore into Angel One Wealth Ltd, to develop an omnichannel wealth-tech platform comprising three HNI, UHNI and Alternate Assets. The funds will be deployed to develop core technological infrastructure, leveraging AI and analytics, expand presence in key markets and develop curated, expert-led product strategies and suites. AOW aims to overcome industry challenges such as barriers to innovation in investment strategies, high operational cost and higher fees using new-age tech infrastructure. Dinesh Thakkar, Chairman and Managing Director, Angel One, said, "Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and stay at the forefront of innovation. The seasoned investment professionals' team, led by Srikanth, brings strong domain knowledge enables us to capitalise on the evolving wealth landscape." Srikanth Subramanian, Managing Director & CEO, Angel One Wealth, said, "We are building an omni-channel solution that will enhance the value of a trusted wealth manager through digital infrastructure and new-age technology." Also read: Angel One takes steps to handle data breach SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on July 31, 2024