Ujjwal Jain has more than a decade of encounter working at the confluence of personal computer science, technologies, finance, trading and investment management industries. He worked with DE Shaw which is a top technologies-driven hedge fund as effectively as with MSCI, which is a top index and ETFs provider. Having created sturdy information and understanding of each active and passive fund management sector that was entirely driven by deep technologies and a solution-based method, Jain was keen to venture out in India in this space.
Jain envisioned to construct an investment technologies platform. He quit his job in March 2016 and incorporated WealthDesk in June that year. The solution went live in 2018 just after it was initially tested to satisfy the requirements of the sector. This led to the developing of a B2B2C platform ecosystem for advisors, analysis homes having into advisory, brokers and investors. It enables portfolio based investing on leading of equities and ETFs consolidating analysis, advisory, broking, asset & wealth management ecosystem.
This Mumbai-based startup gives the following crucial goods:
WealthDesk Business for Independent Advisors & Research Houses: It enables them to launch and handle direct equities and ETFs based portfolios as WealthBaskets and distribute them in an omni-channel setup by means of their personal devoted customer platform exactly where any broking buyer can come uncover, invest and handle their WealthBaskets.
WealthDesk Business for Brokers & Distributors: Brokers and distributors are shifting from transactional led broking to advisory/worth led broking by distributing the WealthBaskets in an omni-channel setup by means of each on line broking customer platform and by means of branch and distribution channels in offline to on line method.
WealthDesk Consumer: A curated aggregator customer platform to allow wealth management on WealthBaskets by means of charge-based WealthBaskets exactly where any retail broking buyer can come encounter, uncover, invest, handle and track these WealthBaskets.
“We have onboarded 50+ partners which includes leading brokers like JM Financial, Motilal Oswal, Anand Rathi, Prabhudas Lilladher, IIFL Securities and others,” says Jain. “The WealthBaskets have been created by some of the leading investment advisory and research firms like Quantech Capital (OpenQ), Finmo, Renaissance Investment Managers, Tamohara, Abakkus Investing, etc.” WealthDesk has till date raised $3.2 million by numerous investors in its initially external Pre-Series A funding round led by Mathew Cyriac, former Blackstone companion and co-head of India PE.
With a rock strong deep technologies base in location, WealthDesk is now going to quickly scale up vertically and horizontally, claims Jain. “We will be bringing out state-of-the-art tools and analytics that will comprehensively support retail investors in their investment journey. On the product side, we will be focusing on extending our market leading features on WealthDesk Business to support RIAs, RAs, brokers and distributors with the most cutting edge tools that are not available on any other platform,” he adds.