Angel One Pumps Rs 250 Crore Into Wealth Management for Growth

Angel One has announced a Rs 250 crore investment into its wealth management division to capitalize on rising affluence in India. The funds will enhance technological infrastructure, expand market presence, and develop new products. Angel One Wealth will target high net-worth individuals, ultra high net-worth individuals, and alternate assets.

Brokerage Angel One on Wednesday announced a Rs 250 crore investment into its wealth management arm, aiming to capitalize on the growing affluence in the country.

The capital will be deployed to enhance core technological infrastructure, leveraging AI and analytics, expand presence in key markets and develop new product strategies, according to an official statement.

Angel One Wealth currently operates through three business verticals: HNI (high net-worth individuals), UHNI (ultra HNI), and alternate assets.

'Through Angel One Wealth, we aim to cater to a broad spectrum of clients by leveraging technology and staying at the forefront of innovation,' Angel One’s chairman and managing director Dinesh Thakkar said.

The company noted that rivals like IIFL have already established successful wealth management arms.

The statement highlighted a rapid increase in the HNI population in the country, projected to grow by 16 percent annually to 16.5 lakh by 2027.

Angel One will offer investment products across asset classes, provide technology-driven client accessibility, and support clients through relationship managers.

The company has established a 60-member team of wealth managers, with an average age of 32.

Additionally, it has set up an advisory council, a think tank, a product approval committee, and an investment committee.