IIFL Wealth and Asset Management, the first homegrown wealth management firm to be listed on the stock exchange, made its debut on the bourses on September 19 2019. The listing ceremony took place at the National Stock Exchange in Mumbai.
IIFL Wealth and Asset Management is an Indian wealth and asset management company. The company is a product innovation pioneer with assets of around US$24 billion under management, advice and distribution. Earlier this year in March, the National Law Tribunal approved the proposed demerger of the company from IIFL Group.
Karan Bhagat, founder, MD & CEO, IIFL Wealth and Asset Management Ltd, says, "Our unique approach in wealth management, which is very process-driven has resulted in 98% retention of clients and assets. In addition, our attrition of employees, especially at the senior banker level is amongst the lowest in the industry at less than 2%. These we believe has resulted in a culture, which is unique and has allowed us to build a platform where all three – clients, employees and shareholders – are fully aligned. We will ensure that through market cycles, and through different environments, we are able to further innovate unique solutions.”
IIFL Wealth and Asset Management won The Best Private Bank – India at The Asset Triple A Private Banking, Wealth Management, Investment and ETF Awards 2019 besides 89 other awards of repute since its inception in 2008.
Yatin Shah, co-founder and executive director, IIFL Wealth and Asset Management, adds, “After 11 years, we continue to have the same energy and excitement to meet and work with clients. We look forward to our next phase of growth. Even in the current market scenario, our robust balance sheet and conservative allocation of resources enables us to expand our market share. Organically, we groom the best talent and continue to attract senior relationship managers. Selectively, we continue to look at inorganic opportunities.”
Headquartered in Mumbai, IIFL Wealth and Asset Management has a geographical footprint across 7 major global financial hubs and 26 locations including India and around the world.
Anirudha Taparia, executive director, IIFL Wealth and Asset Management, says, “It gives me immense satisfaction, to be closely associated with the growth story of the first, homegrown wealth management firm to be listed. As I look back over the past decade, the constant support of our clients across all geographies has been the key driver for our commendable growth. We are expanding our investment into our products, research and technology side of the platform to ensure our Clients are serviced in the best possible manner.”