Wealth manager for UHNW families 360 ONE WAM has agreed to acquire wealthtech ET MONEY.
The deal, subject to regulatory approval, will help in completing the flywheel across client segments for 360 ONE and boosts its position as a wealth manager in India.
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In addition, 360 ONE recently launched its HNI and global offerings alongside its existing core UHNWI wealth business.
ET MONEY is one of India’s biggest SEBI-registered Investment Advisors by number of clients and among the largest non-brokerage Digital Platforms for Wealth Management.
Furthermore, its advisory service, ET MONEY Genius, has more than 76,000 active paying clients.
Karan Bhagat, founder, MD & CEO of 360 ONE WAM, said: “As we move forward, 360 ONE and ET Money will now be able to leverage the product suite, domain understanding of the business, portfolio advisory solutions, brokerage services and credit solutions to a large user base. The acquisition is expected to result into a strong and faster path of monetisation for ET Money across both users as well as product offerings.”
Satyan Gajwani, Vice Chairman, Times Internet, continued: “We are incredibly proud of ET Money’s achievements, and we are sure it will reach further heights in partnership with 360 ONE WAM.”
Mukesh Kalra, founder & CEO of ET MONEY, added: “We have a shared vision with 360 ONE WAM to align our businesses deeply with our client’s investment outcomes, creating trusted relationships. We are excited about leveraging 360 ONE WAM’s product platform, designed for the wealthy, to democratise access to premium wealth products and solutions for the aspiring Indian.”
