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A Cafemutual analysis of AMFI AUM disclosure shows that India’s top 100 boutique MFD firms manage assets of Rs.1.64 lakh crore as on March 2024.
The assets under advisory of these distributors ranges between Rs.12,530 crore and Rs.720 crore.
Interestingly, of the top 100 boutique MF distribution firms, a majority or top 56 firms manage assets in excess of over Rs.1000 crore.
Please note that we have considered distribution firms which are promoted by individuals to make this list. We have excluded banks, national distributors having sub broking arm, stock broking companies and individual MFDs.
Among top 100 boutique MFD firms Scripbox, Pioneer Client Associates and Sapient Wealth are the three largest boutique distribution firms in the MF industry.
Scripbox promoted by Atul Singhal and Sanjiv Singhal leads the pack with assets under advisory of over Rs.12,530 crore. The company witnessed growth of 31% in the last one year.
While Pioneer Client has witnessed 15% growth in its assets size, Sapient Wealth saw decline in its AUM base last financial year ended March 2024 due to corporate restructuring. Pioneer Client Associate and Sapient Wealth manage assets of over Rs.7770 crore and Rs.6842 crore, respectively.
Among others in the top 10 list are Bluechip Corporate Investment Centre, KNS Money, AUM Capital Market, Sapient Finserv, Integrated Enterprises, Pranitya Wealth, andWealth First Portfolio Managers.
Please note that we released a list of 103 such firms as two distributors - Abacus and MFA have two companies each in the list.
Here is the complete ranking of top 100 boutique MFD firms:
| Ranking | Boutique MFDs | Founder | Assets manage by them in Rs. Crore. |
| 1 | Scripbox.Com India | Atul and Sanjiv Singhal | 12536 |
| 2 | Pioneer Client Associates | Himanshu Kohli | 7773 |
| 3 | Sapient Wealth | Dhruv Mehta, Roopa Venkatkrishnan and Paresh Kariya | 6842 |
| 4 | Bluechip Corporate Investment Centre | J Rajagopalan, J Rajaraman and J Kannan | 6553 |
| 5 | KNS Money | MS Uppal and Kamal Khanna | 4385 |
| 6 | AUM Capital Market | Dinesh Jain | 4208 |
| 7 | Sapient Finserv | Amit Bivalkar | 4023 |
| 8 | Integrated Enterprises (India) | N. Gopalaswamy, Sriram Vaidyanathan, V Krishnan and S Natarajan | 3952 |
| 9 | Pranitya Wealth | Pravin Bhalerao | 3370 |
| 10 | Wealth First Portfolio Managers | Ashish Shah | 3262 |
| 11 | AM Unicorn | Surya Bhatia | 3059 |
| 12 | MFA Wealth | Amar Pandit | 2719 |
| 13 | Blue Edge Associates | Kunal Kaul, Samrate Banerjee, Apratim Biswas, Sanchita Mukherji, Shafey Anwar Siddiqui, Prateek Jain and Ajay Bajaj | 2694 |
| 14 | AD Naik Wealth | Nikhil Naik | 2643 |
| 15 | MFA Capital | Amar Pandit | 2454 |
| 16 | Alpha Capital | Dr. Mukesh Jindal | 2368 |
| 17 | Three Cube | Alwar Easwaramoorthy and Cinu Jones | 2297 |
| 18 | Beyond Life | Ravi Jethani | 2284 |
| 19 | TrustPlutus | Utpal Sheth | 2147 |
| 20 | J R Laddha Financial Services | Manoj Laddha | 2096 |
| 21 | Kredere Wealth | Kaushik Deva | 2009 |
| 22 | Arete Capital | Kamal Somani | 1991 |
| 23 | Sift Capital | Vineet Nanda | 1988 |
| 24 | Yogesh Shah Securities | Yogesh Shah | 1859 |
| 25 | Jain Privy Client | Vinod Jain | 1853 |
| 26 | Capital League | Sapna Narang | 1844 |
| 27 | Complete Circle Capital | Gurmeet Chadha and Kshitiz Mahajan | 1743 |
| 28 | Bharat Bhushan And Co | Bharat Bhushan | 1712 |
| 29 | Chadha Investment Consultant | Major Ashish Chadha | 1677 |
| 30 | Pine Wealth | Bharat Raj Sikri, Mayank Kaurav,Mohit Agarwal, Mohit Tandan, Rahul Kukreja, Surjit Singh and Vishal Rai | 1634 |
| 31 | Etica Wealth | Gajendra Kothari | 1630 |
| 32 | Autus Wealth | Ajay Laddha | 1607 |
| 33 | Leader Care Finance | Darshit Shah and Jigar Anjaria | 1601 |
| 34 | S J Investment Services | Pratap Trivedi and Rajnikant Trivedi | 1574 |
| 35 | SLA Finserv | Ashish Modani | 1492 |
| 36 | Peak Alpha | Shyam and Priya Sunder | 1443 |
| 37 | Aureus Wealth | Asheish Surti and Minoo Engineer | 1432 |
| 38 | Vista Wealth | Ashish Goel | 1390 |
| 39 | Wiseinvest | Hemant Rustagi | 1368 |
| 40 | Wise Turtle | Amit Marathe, Abhishek Vahikar, Ashish Ganu, Aditya Kumat, Satyajeet Deshpande and Silvertre Pereira | 1327 |
| 41 | Wealth First | Ashish Shah | 1286 |
| 42 | Indus Capital | Sanjay Sanghvi | 1243 |
| 43 | Maloo Investwise | Dr Ramesh Maloo | 1202 |
| 44 | Think Financial | Amit Dani, Mandar Joshi, Parag Paranjpe, Ranjit Dani and Saurabh Ballal | 1201 |
| 45 | REGIS AND SAVOY CAPITAL | Anil Nahar | 1166 |
| 46 | Shivranjani Securities Company Pvt Ltd | Shivanand V. Salgaocar | 1131 |
| 47 | Finfreedom 33 | Nitin Patel | 1099 |
| 48 | Hum Fauji Financial Services | Col Sanjeev Govila, Bindu Govila | 1093 |
| 49 | I Can | Umesh Shukla | 1074 |
| 50 | Finnovators | Amarnath Lal, Balvir Chawla, Bhupendra Ketkar, Hemant Kale, KV Balaji, Neepa Khatri and Veena Malgonkar | 1069 |
| 51 | Value One Up | B V R Venkatesh Bapu | 1067 |
| 52 | Abacus Mutual | Mazhar Arif and Yasir Varawala | 1049 |
| 53 | Safe Assets | Killol Ringwala | 1031 |
| 54 | Precient | Sangeeta Jhaveri | 1002 |
| 55 | Wealthcube Endeavours | Chetan Bhatt | 984 |
| 56 | Fin Edge | Harsh Gahlaut | 975 |
| 57 | Aevitas Capital | Anurag Seth | 970 |
| 58 | Konfido Syndicate | Sathya Devaraj | 969 |
| 59 | Purohit Associates | CM Purohit | 968 |
| 60 | Milestone | Jigesh Patel | 961 |
| 61 | Ladderup Wealth | Sunil Goyal and Raghvendra Nath | 953 |
| 62 | Divitas Capital | Arjun Sawhny | 940 |
| 63 | Money Honey | Anup Bhaiya | 938 |
| 64 | Imperial Value Services | Satish Pandey | 931 |
| 65 | Millennium Finance Limited | Anand Boddapaty | 930 |
| 66 | Abacus Corporation | Mazhar Arif and Yasir Varawala | 900 |
| 67 | SNS | Hitesh Shah | 892 |
| 68 | VSRK Capital | Swapnil Aggarwal | 883 |
| 69 | Oswal Dhan | Hitesh Jain | 879 |
| 70 | Eurasia Capital | Archhana Parikh, Arvind Pandey and Dharmesh Parikh | 861 |
| 71 | PMPK Wealth | Pradeep Jain | 859 |
| 72 | Fermat Prime | Rohit Singh | 846 |
| 73 | Pentagraph Partners | Rahul Mone | 839 |
| 74 | Security Investments | Sandeep Nanda | 834 |
| 75 | Bluechip Capital | Ravi Kohli | 828 |
| 76 | Axiom Financial Services | Deepak Chabaria | 825 |
| 77 | Vcare Investment Services | Piyush Desai | 823 |
| 78 | Zvest Financial Servcies | Harsh Kumar | 815 |
| 79 | WMG Wealth | Sreekara I P | 806 |
| 80 | Mangsidhesh Investments | Pranav Mazumdar | 788 |
| 81 | Shriparni Artha | Loknath Agarwalla | 787 |
| 82 | Starlight Wealth | Siddharth Singh | 786 |
| 83 | Nestegg Wealth | Vishal Vij | 782 |
| 84 | Shalibhadra | Siddharth Shah and Nishit Shah | 775 |
| 85 | RNB Corporate | Bhoopesh Jain | 768 |
| 86 | Aalps Wealth | Rahul Patel | 767 |
| 87 | Marina Wealth | Venkateswaran | 766 |
| 88 | Sushil Financial Services | Sushil N Shah | 765 |
| 89 | Enrichwise Financial Services | Kapil Jain | 759 |
| 90 | Excellence Wealth Lab | Srinivasan Jeya Sankari | 752 |
| 91 | Almondz Global Securities Ltd | Manoj Kumar Arora | 749 |
| 92 | Assetz Premier Wealth Advisory Pvt Ltd | Sivakumar Pullot | 747 |
| 93 | Dalmia Wealth | Brijesh Dalmia | 744 |
| 94 | Reliable Investments | Paresh Sukhtankar | 742 |
| 95 | JRL Capital | Vijai Mantri | 735 |
| 96 | OM Spectrum | Swaminathan | 731 |
| 97 | BFC Capital P Ltd | Sunil Gupta | 726 |
| 98 | Prime Capital | Dhiraj Mittal | 723 |
| 99 | Power Pusher Financial Services | Hanoz Patel | 723 |
| 100 | Atomprive Financial Services | Nandini Loganthan, Padmini BS and Sandhya Krishnan | 721 |
| 101 | Shree Sidvin Financial Services & Invest | Raman Gupta | 721 |
| 102 | SKCP Capital | Vishal Sarda | 720 |
| 103 | Disha Finance | Dilip Sahasrabudhe | 719 |
| Total | 170957 | ||
