Investment technology platform WealthDesk, which is building a unified wealth interface (UWI) for the wealth management ecosystem, announced it has partnered with retail broker ICICIdirect.
This will allow ICICIdirect’s 7 million users to invest in more than 40 WealthBaskets (curated investment portfolios) from a wide range of SEBI-registered professionals, with investment sizes ranging from ₹1,000 to over ₹10 lakh.
These WealthBaskets can be long term, short term, balanced, asset allocation-based, thematic, sectoral, and so on, WealthDesk said.
“UWI is an internet-scale wealth management ecosystem that is powered by WealthDesk platform, and it enables innovative investment and wealth products and solutions like direct equity and ETF-based WealthBaskets from SEBI-registered professionals to reach millions of Indians with broking accounts,” it explained.
Ujjwal Jain, Founder and CEO, WealthDesk, said, “ICICIdirect has always been at the forefront of bringing internet-based trading to retail Investors. As Bharat as well as India starts to participate more in the equities markets, we want to introduce managed systematic WealthBaskets and other wealth management solutions under our unified wealth interface vision to a larger segment of the retail investor community.”
“We are happy to offer research and theme-backed WealthBaskets from SEBI-registered professionals on WealthDesk to ICICIdirect users. ICICIdirect customers now have the added option of choosing from equity or ETF WealthBasket portfolios as per their investment objectives and risk appetite. We are happy to play our part in democratising high-quality investment ideas for the retail investors,“ said Anupam Guha, Head – PWM, ICICI Securities.