Asit C. Mehta Financial Services ltd group (ACMFSL), one of the leading fintech conglomerates in
Indian equity markets, has signed a Memorandum of Understanding (MoU) with iFAST Financial India Pvt
Ltd (iFAST India) to acquire their Registered Investment Advisor
(RIA) business that helps independent financial advisers provide fee-based
multi-asset advisory services. The
RIA platform proposes to offer unparalleled advisory and investment options to
investors. iFAST India is a part of iFAST Corporation Ltd (iFAST Corp),
one of Asia’s largest wealth management fintech platforms headquartered in
Singapore.
Mrs Deena Mehta, Group MD, ACMFSL
group, said “As a company
with close to 40 years of unblemished legacy, we are extremely confident that
with the kind of technology we bring to the fore, investment advisory and experience
that we have in capital markets, we will be able to add lots of value to the
introducers and clients of iFAST. We are really excited and looking forward to
the relationship”
Erik Hon, MD, iFAST Financial India Pvt Ltd, said “We
have had multiple conversations with the management and leadership team of Asit
C Mehta Financial Services Group and we believe that with their fantastic track
record of the equity markets and investment advisory, we at iFAST are sure that
the client base and introducer base that we have been able to onboard, will be
handled very well by the team at ACMFSL
and their group company. We are going to offer all
support during the period of this transition. We wish the entire team of ACM and their group companies
the best of luck”
Mr. Anand Varadarajan, Director – Innovation &
Growth, ACMFSL,
said “We have been having multiple
conversations with iFast, their introducers and clients, we believe that the fantastic
capabilities that we posses in terms of providing state of art investment
products and investment solutions, we will be able to add great degree of value
to investors wealth creation process and we are confident that we will be able
to carry iFAST legacy forward in a fruitful manner to the next level in the
many years to come”
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