Stock Holding Corporation of India Limited (SHCIL), the financial products market place and ArthaYantra, financial advisory, on Thursday announced a partnership to provide to India's middle income group online wealth management services, currently confined to the high networth individuals (HNIs).
ArthYantra will be offering personal financial advisory to SHCIL's 7 lakh customers and prospects using its proprietary Robo-Advisory platform, according to a joint media statement. SHCIL also plans to offer wealth management and financial planning services across its network of 180 branches in India.
"This partnership is in line with our vision of being a one-stop solution provider in the financial services domain. It completes the only missing piece in our product basket by offering online wealth management advisory," said N G S Ramesh, CEO of SHCIL.
ArthYantra said the tie-up will benefit many Indians who belong to the middle income group.
"Our partnership with SHCIL will ensure that the middle class too can benefit from world class financial advice and participate in the growth of our nation," said Nitin Vyakarnam, founder and CEO of ArthaYantra.
The process of wealth management will comprise identifying, prioritising and helping clients achieve their personal financial goals, the statement said.