Stock Holding Corporation of India (SHCIL) has partnered with online financial planning firm ArthaYantra to offer online wealth management services, currently limited to the HNWIs, to India’s middle income group.
The collaboration will allow SHCIL to offer wealth management financial planning as a value-added service across its network of over 80 branches.
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Under the deal, ArthYantra will provide personal financial advisory to SHCIL client base of seven lakh customers and prospects using its Robo-Advisory platform.
The online process provides advice across investments, insurance, loan and expense management.
SHCIL CEO NGS Ramesh said: "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."
ArthaYantra founder and CEO Nitin Vyakarnam said: "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."
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By GlobalData
