IIFL Sec partners with WealthDesk to bring premium investment experience to 2.2 mn retail investors

MUMBAI: WealthDesk, investment technology platform that enables equity and ETF portfolio based investing has partnered with IIFL Securities to offer a premium wealth management experience through curated WealthBasket stocks and ETF portfolios from marquee investment advisory (RIA) firms such as Abakkus Asset Manager and Renaissance Investment Managers.

Having recently closed pre-series A funding at $3.2 million, WealthDesk is backed by Mathew Cyriac, the former Blackstone Partner. WealthBasket is the flagship offering of WealthDesk with select investment portfolios, created and managed by leading professionals based on tenure, asset allocation, sector, theme among others.

Owing to this partnership, IIFL Securities customers will now be able to invest in curated investment portfolios by using their broking credentials for a seamless wealth management experience.

IIFL has set a conservative target of Rs 600 crores of assets under advisory (AUA) in 12 months for RIA managed WealthBaskets on the WealthDesk platform.

Ujjwal Jain, founder & CEO, WealthDesk said, “WealthDesk has always differentiated itself as a platform that, through its technology ecosystem, offers premium wealth management at a lower cost through curated stock and ETF WealthBasket portfolios on top of broking. IIFL Securities were keen to offer a premium investing experience to its investors and partnered with WealthDesk for its capabilities in the premium segment.”

According to Pankaj Murarka, founder, Renaissance Investment Managers, WealthDesk offers a robust, new-age digital platform for investors to seamlessly execute portfolio advice in a single click. “It’s a completely new experience for Indian Investors.”

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