WealthDesk has partnered with IIFL Securities to offer a premium wealth management experience through curated WealthBasket stock and ETF portfolios from marquee Investment Advisory (RIA) firms such as Abakkus Asset Manager and Renaissance Investment Managers.
Having recently closed pre-series A funding at $3.2 million, WealthDesk is backed by Mathew Cyriac, Founder of Florintree Advisors and Ex Blackstone Partner and co-head of India PE. WealthBasket is the flagship offering of WealthDesk. These are select investment portfolios, created and managed by leading SEBI Registered Professionals based on tenure, asset allocation, sector, theme, etc. These portfolios provide holistic Wealth Management on top of Equities & ETFs to retail investors.
Owing to this partnership, IIFL Securities’ customers will now be able to invest in curated investment portfolios by using their broking credentials for a seamless wealth management experience.
Nandkishore Purohit, Chief Digital Officer, IIFL Securities said, “As a part of our accelerated digital transformation journey and our strategy to offer IIFL Securities customers multiple investing opportunities, we have partnered with WealthDesk to offer single click investing in premium portfolios curated by marquee Investment Advisory (RIA) firms such as Abakkus Asset Manager LLP – founded by Sunil Singhania and Renaissance Investment managers founded by Pankaj Murarka for our customers. In our journey to create a holistic ecosystem for investment products, we are powering all fintech collaborations by IIFL Open APIs to ensure a seamless customer experience throughout. We have set a conservative target of ₹ 600 crores of Assets Under Advisory (AUA) in 12 months for RIA managed WealthBaskets on the WealthDesk platform and we are confident about achieving the same.”
Ujjwal Jain, Founder & CEO, WealthDesk said, “WealthDesk has always differentiated itself as a platform that, through its technology ecosystem, offers premium wealth management at a lower cost through curated stock and ETF WealthBasket portfolios on top of broking. IIFL Securities was keen to offer a premium investing experience to its investors and partnered with WealthDesk for its capabilities in the premium segment.”
Sunil Singhania, Founder, Abakkus Asset Manager LLP said, “We are excited to be the first to launch the Advisory services to 2.2 million customers of IIFL Securities powered by WealthDesk.”
Pankaj Murarka, Founder, Renaissance Investment Managers, added “We feel excited to be able to offer our curated advisory portfolios to IIFL Securities customers and partnering WealthDesk for technology solutions. WealthDesk offers a robust, new age digital platform for investors to seamlessly execute portfolio advice in single click. It’s a completely new experience for Indian Investors.”