Angel One, a prominent brokerage firm, has announced a ₹250 crore investment in its wealth management arm. This strategic move aims to capitalize on the increasing affluence in India, particularly among high net-worth individuals (HNIs).
Key Highlights:
– Investment Amount: ₹250 crore
– Purpose:
– Develop core technological infrastructure
– Leverage AI and analytics
– Expand presence in key markets
– Develop product strategies
Growing Affluence in India
– HNIs Growth: The population of high net-worth individuals in India is growing rapidly. It is expected to increase by 16% annually, reaching 16.5 lakh by 2027.
Angel One Wealth Services
– Offerings:
– Investment products across various asset classes
– Technology-driven accessibility for clients
– Support from dedicated relationship managers
– Team Composition:
– 60-member team of wealth managers with an average age of 32 years
– Advisory and Governance:
– Advisory council
– Think tank
– Product approval committee
– Investment committee
Business Verticals:
| Vertical | Description |
|---|---|
| HNI | High net-worth individuals |
| UHNI | Ultra high net-worth individuals |
| Alternate Assets | Focus on non-traditional investment avenues |
Dinesh Thakkar, Angel One’s chairman and managing director, stated, “Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and staying at the forefront of innovation.”
This investment positions Angel One to compete with peers like IIFL, which have already established successful wealth management services.
