5Paisa.com, Tavaga tie-up to offer investment advisory
Premium- While retail investors at the top end of the wealth pyramid have access to good quality advice, there is a lack of incentive to serve the larger pool of population
NEW DELHI: Discount broking company 5Paisa.com on Friday said it has partnered with Tavaga Advisory Services, a Securities and Exchange Board of India-Registered Investment Adviser (RIA), to provide investment advisory services to its customers. The aim of the partnership is to bring more consumers into the investing universe, 5Paisa said in a statement.
"The Indian financial sector has evolved substantially in the last 20 years in terms of regulations, risk management, and operations. However, retail penetration in the stock markets is very low. 5paisa.com, which is ranked sixth in the equity broking industry league, aspires to enter into the top three club in next 12-18 months by bringing more retail participation. With Tavaga’s vision of financial inclusion, 5Paisa.com, aims to give retail investors access to best-in-class investment advisory to manage their investments," said Ankit Fitkariwala, chief business officer, 5paisa.com.
Giving insights on the advisory objective, Nitin Mathur, co-founder and CEO, Tavaga, said, "Sophisticated financial advice should not be a prerogative of the privileged. While retail investors at the top end of the wealth pyramid have access to good quality advice, there is a lack of incentive to serve the larger pool of population. Tavaga aims to disrupt the traditional wealth management landscape by democratising investment advisory and reducing intermediaries in the value chain."
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