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One of India’s largest Mutual Fund Distribution companies, Wealth Managers (India) led by Bharat Phatak and Ajit Khasnis entered into strategic tie up with online investment platform Scripbox.
Wealth Managers managed assets of over Rs.4300 crore as on March 2021. With this tie up, Scripbox will now have AUM of Rs.12000 crore.
In a press release, Scripbox said that Wealth Managers specialises in personalised financial services for high net worth and ultra-high net worth individuals, corporates, and charity trusts. “Scripbox’s partnership with Wealth Managers will further bolster its geographical presence and expand its customer base,” said the company.
Sharing the rationale, Bharat Phatak, Founder & Director, Wealth Managers said, “Joining hands with Scripbox gives us an opportunity to build long-term investments based on a rational and responsible approach for a much larger cross section of investors. The core values of putting the investors’ interests first and having the foundation of asset allocation and rebalancing will only get enhanced. Having an empathetic approach to understanding investor aspirations and concerns will help Scripbox and Wealth Managers grow through prudence and technology.”
Atul Shinghal, Founder & CEO of Scripbox said, “Our strategic partnership with Wealth Managers will allow us to leverage our collective wealth management experience and jointly deliver data-driven personalised solutions for the growth and diversification of wealth for our consumers. Wealth Managers has a stellar track record built over the years and with Bharat, Ajit, and their team on board we aim to learn their mantra for tangible progress in this ever-evolving space. In addition to strengthening our offerings, the combined force of the companies will enhance our presence in key geographies and offer an amalgamation of traditional and digital solutions to cater to a full spectrum of customer needs.”
As a part of their growth strategy, Scripbox has been partnering with a number of leading offline and online independent distributors over the last few years to expand its reach.
