Edelweiss Personal Wealth Management sees 20% increase in client base in Gujarat

Ahmedabad: The personal wealth business (serving salaried professionals and HNIs) of Edelweiss Wealth management, has announced a significant increase of 20% in its client base in 9M FY19 as compared to 9M FY18 in Gujarat. This growth is primarily due to the customised and unbiased advisory provided to clients by empowering them with technology platforms like EMT and Trader Extreme 3 (TX3) for investment and trading in financial markets.

The company said business has also witnessed a healthy revenue growth of 63.5% in the last three years. The growth of total assets under advice of the company’s wealth management business in FY 18 was 51.2 %. One of the key reasons for this increase is the higher acceptance of structured products by clients in Gujarat.

The company said Amedabad in particular has witnessed a radical increase in adoption of technology and our app Edelweiss Mobile Trader (EMT) has seen a significant growth of 148% across India and 58% in Gujarat in terms of investing/trading in 9M FY19 in comparison to 9M FY 18. Out of the overall usage in Gujarat, 61% are from Ahmedabad, 45% Surat and 51% Baroda. The usage of mobile applications by millennials has increased significantly and overall around 18% of the customers in Gujarat are millennials.

Commenting on this development, Rahul Jain, Executive Vice President, Edelweiss Wealth Management said, “We pride ourselves in being a customer centric organisation. With our personalised advisory and innovative tools which empower our new-age clients make informed financial decisions; we have been able to deliver superior risk adjusted returns for our clients in the long term.”

The business has a highly trained and specialized team of over 600 advisors who engage with the clients. It has close to 70 offices across the country, said company.

DeshGujarat