Angel One Invests INR 250 Cr in Wealth Management Arm The funding will be directed towards upgrading technological infrastructure, incorporating artificial intelligence (AI) and analytics, and expanding the firm's market presence.
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Mumbai-based stock broking firm Angel One has announced an INR 250 crore investment in its wealth management arm, Angel One Wealth.
This strategic move aims to address the growing needs of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in India.
The funding will be directed towards upgrading technological infrastructure, incorporating artificial intelligence (AI) and analytics, and expanding the firm's market presence. Angel One Wealth is set to develop specialised product strategies and curated investment suites to meet the evolving demands of its clientele.
Srikanth Subramanian, Managing Director and CEO, Angel One Wealth Limited, said, "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 on this journey, leveraging their technological prowess. We are building an omni-channel solution that will enhance the value of a trusted wealth manager through digital infrastructure and new-age technology."
Angel One Wealth operates across three key verticals: HNIs, UHNIs, and alternative assets. The investment will enhance the firm's ability to offer diverse investment products, improve client accessibility through technology, and support clients with relationship managers. The team currently includes about 60 wealth managers, investment professionals, and tech experts.
Additionally, the firm has established an advisory council featuring industry leaders, a think tank, a product approval committee, and an investment committee.
In March, Angel One bolstered its wealth management division by appointing seasoned professionals Shobhit Mathur and Dharmendra Jain as co-founders of Angel One Wealth, joining Subramanian. The firm offers a range of personalised services, including investment advisory, portfolio management, and financial planning, supported by advanced analytics.
"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.
