Wylth - India's 1st Independent Multi-Asset Platform garners Rs 1,750 Crores of assets in its first month of operations
Nov 24, 2022
Mumbai (Maharashtra) [India], November 24 (ANI/BusinessWire India): Wylth®, a cutting-edge technology platform, has recently been launched as India's first Independent Multi-Asset platform for Independent Financial Advisors (IFAs). It offers a comprehensive digital platform with a vision to revolutionize the Financial Products Distribution business. In its first month of operations, it has garnered Rs. 1,750 Crores of assets on its platform and is on the trajectory to reach Rs. 8,000 crores by the end of March 2023.
Wylth® is a holistic multi-asset platform that covers all the needs of an IFA and their clients, including investments, insurance, and credit. It aims to partner with IFAs and help them increase their client's wallet share. Typically, an IFA gets up to 10% of the client's wallet share by selling limited financial products such as Mutual Funds, Equities, and Insurance.
Driven by Atmanirbhar Bharat and digital transformation, Wylth® offers comprehensive functionality and a customized, white-labelled multi-asset platform offering Mutual Funds, Equity Markets, Global Markets, Fractional Real Estate, P2P, Loans against Mutual Funds, SME Lending, Insurance & many more products, with a commitment to never have their own Mutual Funds Distribution and/or Financial Advisory business. It is promoted by Amit Shah, a Capital Markets veteran and Co-founder & former Board Member of IIFL Wealth Management.
The new-age Investors are tech-savvy and expect IFAs to have a comprehensive digital solution. The proprietary Wylth® platform gives IFAs access to a technological ecosystem that spans every stage of the client lifecycle- from onboarding to transacting to relationship management, reporting, marketing, and communication; enabling them to create a level-playing field with banks and big wealth management firms.
Sharing his thoughts, Amit Shah, Founder & CEO of Wylth®, said, "During the last 15 years, financial wealth has grown significantly in tier 2 and tier 3 cities. With a multi-asset tech platform such as Wylth®, IFAs can grow their business and wallet share by cross-selling multiple financial products available on the Wylth® platform and meeting their client's investment, insurance, and credit needs. Our proprietary state-of-the-art platform has digitized customer lifecycle and touchpoints, including onboarding, transactions, and reporting."
IFAs can help their clients to invest, cover risk, or avail quick credit, all at the click of a button. The platform experience has been built from the ground up to be Phygital- to bring the best parts of the physical customer experience into the digital realm. Wylth® aims to become a platform with various investments on a single unified platform, including alternative investment products, credit, and insurance.
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