Angel One has also assembled a robust team of 60 wealth managers, with an average age of 32, to support its clients
Brokerage firm Angel One has announced a substantial investment of Rs 250 crore into its wealth management division, signaling a strategic move to capitalize on the increasing wealth in India.
The company plans to utilize the capital to enhance its core technological infrastructure by leveraging artificial intelligence (AI) and analytics, expand its market presence, and develop innovative product strategies.
Angel One Wealth, the firm’s wealth management arm, operates through three primary business verticals: High Net-Worth Individuals (HNI), Ultra High Net-Worth Individuals (UHNI), and alternate assets.
“We are committed to serving a broad range of clients through Angel One Wealth by harnessing technology and maintaining a leading edge in innovation,” said Dinesh Thakkar, Chairman and Managing Director of Angel One. (use pic pls)
This investment comes as the HNI population in India continues to surge, projected to grow at an annual rate of 16 percent, to reach 1.65 million by 2027 if it follows the growth prediction.
Recognizing this trend, Angel One aims to offer a diverse range of investment products across asset classes, with technology-driven accessibility and dedicated support from relationship managers.
Angel One has also assembled a robust team of 60 wealth managers, with an average age of 32, to support its clients. Additionally, the company has established an advisory council, a think tank, a product approval committee, and an investment committee to drive its strategic initiatives forward.
With competitors like IIFL already making strides in the wealth management space, Angel One’s significant investment reflects its ambition to carve out a strong position in this rapidly growing market.
