Centricity Wealth, a digital wealth management platform for investment professionals, single family offices and corporate treasuries has announced senior management appointments of Faraz Mahmood and Anirudh Mahanot as business heads for north and south India respectively.
As per the information, Faraz Mahmood and Anirudh Mahanot will work closely with the co-founders.
Commenting on these appointments, CEO and founder, Centricity, Manu Awasthy said “There are many platforms working on digital access to specific investment products for MFDs. Centricity is positioned as a one stop aggregated solution, offering not only products and digital transactions but also multi asset reporting and analytics. We are looking forward to having Faraz and Anirudh onboard as we commence our next growth phase.”
Prior to this, Mahmood has held the senior management positions in asset management companies including ICICI Prudential, Fidelity, IDFC and Sundaram across institutional and channel businesses. However, Mahanot has been a private banker and wealth specialist with Citibank, IIFL WAM. Most recently, he worked as a director and investment advisor at Julius Baer.
Commenting on his joining Centricity, Faraz Mahmood said, “Independent financial advisors (IFAs) find it very tough to scale their practices, increase AUMs and improve their earnings. Absence of an open-source financial services platform that offers multi asset reporting, analytics and transactional capabilities, lack of access to a well-rounded investment product suite/ value added services, relevant know-how and training to pitch newer products are all factors that limit the growth potential of an independent distributor. In addition to addressing these gaps, Centricity acts as an anchor to IFAs enabling them to compete with large players in this business.”
“Centricity’s unique proposition is a comprehensive integrated platform for risk assessment, investor data aggregation, real time analytics and portfolio reporting, a comprehensive investment product listing, digital transaction execution of investment products, portfolio review and call to action,” added Anirudh Mahanot.
Additionally, the startup is headquartered in Gurugram, Haryana and has offices in Maharashtra, Karnataka, Delhi, Tamil Nadu, and Uttar Pradesh.