Angel One: Angel One infuses Rs 250 crore into wealth management arm

Mumbai-based stock broking firm Angel One has invested Rs 250 crore into its wealth management arm, Angel One Wealth, to cater to the expanding population of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in the country.The investment will be allocated to enhance technological infrastructure, leverage artificial intelligence (AI) and analytics, and expand the firm’s presence in key markets. Additionally, Angel One Wealth plans to develop curated, expert-led product strategies and suites, the company said on Wednesday.

“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,” said Srikanth Subramanian, managing director and chief executive officer of Angel One Wealth. “We are building an omnichannel solution that will enhance the value of a trusted wealth manager through digital infrastructure and new-age technology.”

Angel One Wealth operates through three main verticals: HNIs, UHNIs, and alternative assets.

The capital infusion will enable the firm to offer investment products across asset classes, provide technology-driven client accessibility, and support clients through relationship managers, it added. The team includes around 60 wealth managers, investment professionals, and tech experts.

The firm has also established an advisory council, featuring industry leaders, a think tank, a product approval committee, and an investment committee.

In March, Angel One brought on board seasoned wealth managers Shobhit Mathur and Dharmendra Jain as cofounders of Angel One Wealth, alongside Subramanian. The firm offers personalised investment advisory, portfolio management, and financial planning services using advanced analytics and technology. Clients have access to a broad range of investment products, including equities, bonds, mutual funds, and alternative investments, tailored to the specific needs of HNIs and UHNIs.“Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and staying at the forefront of innovation. The seasoned investment professionals’ team, led by Srikanth, brings strong domain knowledge and enables us to capitalise on the evolving wealth landscape,” Dinesh Thakkar, chairman and managing director of Angel One said.

Additionally, Angel One was recently in the news for a mass data breach, exposing the personal information of approximately 7.9 million online customers on a hacker forum.