Home / Business and Economy / Angel One Bets Big on Wealth Management Amidst Broking Headwinds
Angel One Bets Big on Wealth Management Amidst Broking Headwinds
12 Dec
Summary
- Angel One CEO Ambarish Kenghe emphasizes long-term strategy over market fluctuations.
- Company is expanding into lending and wealth management, lowering entry barriers.
- Despite revenue dip, AI and customer-centric fundamentals are central to FY27 strategy.
Angel One's CEO, Ambarish Kenghe, has outlined a strategic pivot towards wealth management and lending, aiming to diversify revenue streams beyond its core broking business. Despite facing regulatory challenges that impacted revenue by 12% and profits by 35% in the first two quarters this fiscal, the company is committed to its long-term vision. Kenghe stresses the importance of maintaining a stable strategy, emphasizing artificial intelligence and core principles like safety, security, speed, and simplicity for its FY27 plan.
The company is making wealth management more accessible through Ionic Wealth, reducing the minimum investment to under Rs 1 crore. This move democratizes the service, catering to a broader customer base, similar to Groww's focus on individuals with assets between Rs 50 lakh and Rs 5 crore. Angel One's asset management company arm continues to concentrate on passive funds, reflecting a growing trend in the market.
Angel One remains open to acquisitions and partnerships, as demonstrated by its recent investment in the life insurance platform LivWell. The company also provides access to the US market through Vested Finance, recognizing the importance of global economic opportunities. This flexible approach underscores their commitment to exploring diverse avenues for growth and mutual learning within the financial ecosystem.
