Angel One to venture into Wealth Management; bets on emerging HNI growth in India

Angel One, the country's leading online brokerage entity capitalising on the opportunities in the market is venturing into Wealth management. The entity is awaiting all final clearance before taking customers on board for the same. 

Backedstrategically by Angel One to build omni-channel wealth-tech platform, the company aims to tap the emerging HNI class in India to provide them with wealth management solutions that can currently be reached out by few through tech-enabled solutions. For the same, the company's parent Angel One Limited (AOL) has infused a total of Rs 250 crore to build tech infrastructure and establish market footprint

"Angel One Wealth Limited (AOW) is redefining wealth management for India’s affluent HNI and UHNI clientele through a synergy of domain expertise and innovative tech application. Strategically backed by Angel One, AOW is developing an omnichannel wealth-tech platform comprising three integrated business verticals – HNI, UHNI and Alternate Assets. This platform merges sophisticated investment strategies with seamless service delivery by a team of wealth managers, market strategists and technology specialists," said the company's press release.

The landscape of wealth management is rapidly evolving, with a16 per cent CAGR of India's HNI population, projected to grow to 1.65 million by 2027, as per industry reports. AOW's strategy rests on three key pillars tailored to meet the unique needs of HNI and UHNI segments – comprehensive investment products across diverse asset classes, technology-driven accessibility for clients and support of relationship managers and top-tier talent equipped with deep market insights, it added.

Dinesh Thakkar, Chairman and Managing Director, Angel One Limited, 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 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 in 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.”

About Angel One Wealth Limited

Angel One Wealth (AOW), a wholly owned subsidiary of Angel One, co-founded by Srikanth Subramanian, ShobhitMathur and Dharmendra Jain, is an omni-channel wealth-tech platform. Headquartered in Mumbai, AOW will enable India's emerging and ultra-high-net-worth individuals (HNIs and UHNIs) make informed investment decisions seamlessly.

AOW offers a comprehensive suite of services, including personalized investment advisory, portfolio management and financial planning. Utilizing advanced analytics, data and technology, AOW’s services are designed to enhance the productivity of relationship managers to provide client-centric investment solutions. Additionally, the platform provides access to a diverse range of investment products, including equities, bonds, mutual funds and alternative investments, tailored to meet the unique needs of HNIs and UHNIs.

About Angel One Limited:

Angel One Limited, (NSE: ANGELONE, BSE: 543235) is the largest listed retail stock broking house in India, in terms of active clients on NSE. Angel One is a technology-led financial services company, providing broking and advisory services, margin funding and distribution of third-party financial products to its clients. The broking and allied services are offered through online and digital platforms to clients acquired directly and through assisted business.

Angel One Limited extensively uses Artificial Intelligence, Machine Learning and Data Science to create a superior digital experience. The company has built a host of digital properties like Angel One Mobile App, ‘ARQ Prime’ a rule-based recommendation engine, ‘SmartAPI’ a free-to-integrate API platform, ‘Smart Money’ an investor education platform for over 24 million clients.