Cosmea Financial launches wealth management business, targets $1 billion in AUM
Feb 22, 2022
Mumbai (Maharashtra) [India], February 22 : Sam Ghosh promoted Cosmea Financial Holdings (CFH) on Tuesday launched wealth management business and said it would achieve $1 billion assets under management (AUM) in the next three years.
The Company targets an AUM of $1 billion in the next 3 years with a focus on providing end-to-end financial solutions and strategic advisory services to High Net worth Individuals (HNI), Ultra HNI, emerging businesses, and start-ups, Cosmea Financial Holdings said in a statement.
The company's wealth management business will operate under Torus Private Wealth.
"Wealth origination in emerging businesses and start-up ecosystem has superseded traditional investment products. Start-ups and venture funding now form an important asset class for holistic wealth management. If one can add strategic value to these businesses, this facilitates in generating additional wealth," said Sumita Pillai, CEO, Torus Private Wealth.
Over the next few quarters, Torus Private Wealth will be launching and distributing products focused on Indian and foreign currency to target the LRS (Liberalised Remittance Scheme) and non-resident pool. The company currently operates from Mumbai and Delhi and further plans to expand to Bangalore, Hyderabad, and Kolkata in the next 3-4 months, the statement said.
Torus Private Wealth will be focusing on in-house product manufacturing capabilities and adopting an open architecture platform, thereby building a combination of deep insight and domain technology model to drive its growth, it said.
"We are observing a paradigm shift in the wealth management industry with the emergence of the new generation of digital investors. Torus Private Wealth is attempting to re-shape how advice and investment products are being delivered through the use of new technologies," said Pillai.
Recognising the MSME sector as an important and emerging sector of the Indian economy, Torus Private Wealth also has a pipeline of customised products for this sector which has been traditionally ignored by wealth managers.
"Torus Private Wealth key differentiator would be customisation of products and portfolios, end-to-end solutions to MSME segment and strategic offshore opportunities," Pillai added.
