IIFL Investment Managers popularly known as IIFL Wealth has started offering fee only services for HNI clients.
The company has announced the launch of a new platform titled ‘IIFL-ONE’ that will charge a flat annual fee from HNIs and Ultra HNIs against its investment advisory services.
Sharing the rationale for this decision, IIFL Wealth said in a press release that one of the biggest challenges for an UHNI and HNI client is to decipher the net of fees alpha/value-add and going past the opacity of total expense ratio including asset manager fee and wealth manager fee/brokerage. “Towards addressing this growing concern and to enhance client experience through better transparency and a hassle-free investment environment, IIFL Investment Managers has designed customized portfolio management offerings ‘mandate’ and ‘consult’ under the IIFL-ONE platform. Under the platform, HNI clients will be offered institutional grade portfolio management processes and portfolio discipline for their personal portfolios at very competitive and transparent all-in-fee, coupled with host of privileges like access to preferred lending terms, wealth structuring and estate planning services.”
The company believes that this will bring down the overall cost for clients in the long run and eliminate the incentive to churn the portfolio completely bringing alignment with client’s requirement.
To strengthen offerings, IIFL Investment Managers has carved out a separate delivery team under Sandeep Jethwani, Managing Partner and Head-Advisory and a separate asset management team under Umang Papneja, Senior Managing Partner and Head- Products.
Karan Bhagat, Founder, MD & CEO, IIFL Investment Managers, said, “The last two years have witnessed a significant shift in asset-allocation trends among Indian high net-worth clients from traditional asset classes like real estate, gold and fixed deposits to financial assets like mutual funds and managed accounts. We believe that our launch of IIFL-ONE will further demonstrate our commitment to keep our long-term interests completely aligned with that of our clients through potential co-investment into their portfolios and offering transparent all-in-fee structure.”
IIFL Investment Manager claims to currently manage over 12,000l families in the HNI and Ultra HNI segments, aggregating more than Rs.1.40 lakh crore of assets under advisory.
