Angel One Wealth (AOW) has announced an investment of ₹250 crore to develop an omnichannel wealth-tech platform. The platform is designed to cater to the rapidly expanding High Net Worth Individuals (HNI) and Ultra High Net Worth Individuals (UHNI) in India.
What Happened: AOW announced its plans to invest ₹250 crore in building a comprehensive wealth-tech platform to provide wealth management to HNIs and UHNIs.
The platform aims to combine advanced investment strategies with seamless service delivery. This will be facilitated by a team of wealth managers, market strategists and technology specialists. Through this AOW looks to overcome challenges such as “barriers to innovation in investment strategies, high operational cost and higher fees using new-age tech infrastructure”, the company said in its press release.
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Industry reports suggest India’s HNI population, which is to have a 16% compound annual growth rate to reach 16.5 lakh by 2027. AOW aims to provide service to the growing HNI population.
The platform will offer a wide range of investment products across various asset classes. It will also provide technology-driven accessibility for clients and support from relationship managers and top-tier talent with deep market insights.
“Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and staying at the forefront of innovation,” said Dinesh Thakkar, chairman and managing director, Angel One Limited
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