Fisdom, an Indian wealth-tech company, has announced the launch of its new venture Fisdom Private Wealth. The company has entered the technology-led wealth management space to cater to the investment needs of HNIs. It has roped in wealth management industry veteran, Abhijit Bhave as the Chief Executive Officer to head Fisdom Private Wealth.
Fisdom Private Wealth will be offering differentiated investment products to its clients - Mutual Funds, PMS, AIFs, Unlisted private equity, Bonds, FDs, Structured products, Insurance as well as international products. This new arm of Fisdom under the aegis of Abhijit Bhave, also plans to launch various other proprietary products in the due course. Fisdom Private Wealth aims to bridge the gap of underserved HNI markets in the country with a robust tech-platform augmented with dedicated support by experienced wealth managers.
Over two and a half decades across the financial services industry in India, UAE and Vietnam, Abhijit has held leadership roles in large global organizations like Deutsche Bank & HSBC. He has also had stints with Karvy Private Wealth, ICICI Bank and Unit Trust of India in various roles and functions across diverse verticals such as asset management, cash management, corporate and retail banking.
Fisdom has pioneered a unique bank partnership led wealth management model that provides access to high-quality services to customers in tier 2 and tier 3 locations. In the near future, Fisdom Private Wealth will also look to extend its services to the HNI customers of Fisdoms partner banks as well.
Fisdom Private Wealth has started-off its business with 50 people at 10 locations in India including Mumbai, Delhi NCR, Lucknow, Chandspan>garh Kolkata, Bangalore, Surat, Pune, Baroda and Bhopal, with an objective of widening its reach to serve HNIs across the country and even overseas. This new venture plans to further provide a new dimension to wealth management offerings through technology and empower HNIs to take superior decisions in their investment journey.
Fisdom Private Wealth also has a dedicated application (App) that provides fast and secure transactions with a user-friendly interface. Apart from the app, clients also have the choice to have in-person consultations thereby offering a mix of digital and physical solutions and making it a Phygital wealth management business proposition for HNIs.
Subramanya SV, Co-Founder and CEO, Fisdom said, We are delighted to venture into the private wealth segment and welcome Abhijit to lead this business with his proven expertise and experience. With Fisdom Private Wealth, which is one of our major strategic initiatives, we aim to transform the way HNIs experience their wealth management journey. Through our robust and secure technology infrastructure, we endeavour to provide best-in-class wealth management solutions backed by comprehensive research and capabilities. With Abhijit's experience in multiple facets of the financial services sector in different geographies, we are confident that he will help this create an impactful business, assisting our HNI clients in achieving their investment goals.
Abhijit Bhave, CEO, Fisdom Private Wealth said, I am excited to embark on a new journey with a dynamic brand like Fisdom. India is a relatively under-penetrated market for the private wealth segment, especially in tier 2 and 3 cities. This gives us an opportunity to expand the reach of our technology-led products and services, thereby making Fisdom Private Wealth accessible to the Indian affluent class not only in the untapped domestic markets but also internationally.