Altiore Capital: This wealth management start-up integrates technology, data analytics and client advice

Published: July 23, 2018 12:41:26 AM

Altiore Capital is the brainchild of Vivek Banka, who has been in the wealth management industry for over 15 years.

Altiore Capital logo (Website)

Altiore Capital is the brainchild of Vivek Banka, who has been in the wealth management industry for over 15 years. He tried to address what he observed as the major pain point in using spreadsheets—to reduce their cumbersome nature when data volume increases and to devise a reporting mechanism that would allow users to get extensive analytics that are not available on spreadsheets.

As a result, Banka and his team started doing in-depth analysis of their client portfolios to try and explain to them what was happening with their investments. “Lets us say an investor has put in money in XYZ mutual fund. After a year, he sees a 20% return. On an isolated basis, he feels happy about it. But, the right thing to do is to compare his investment with the right benchmark or any other similar category fund. We analyse and project what would have been the return if he had invested in similar funds, using our technology. It makes it easier for the investors to see which one will give better returns before investing,” explains Banka, talking about what his company is all about. The analytics are presented on a graphical dashboard along with parameters like churn rates, the right managers for an investment, red flags when a particular investment touches a level of risk and many others.

Altiore Capital was launched in 2016 and its clients are mostly high networth individuals. The firm expects to close the month of July with around $500 million of assets being tracked on its platform. In addition to providing analytics, the firm has an advisory board which gives wealth management advice to clients who want it. The board has some well-known names such as Raghunandan G, co-founder and ex-CEO, TaxiForSure and Angel Investor, Endurance Athlete, Jai Rupani, managing partner, Gokaldas Lifestyle and CIO, Dinesh Hinduja Family Office and Arjun Parthasarathy, founder, Investors Are Idiots and founder, InrBonds.com.

“We are technology-driven and our services are cloud-based, so our clients can log onto their dashboard from wherever they are,” says Banka. He stresses that the products are not developed by techies solely, but with a team of wealth managers, led by himself, who work along with tech teams.

Banka claims that this is one of the main factors that differentiates his company from the rest. “Wealth management sector has a great scope in India due to rapid development and wealth consumption. More influx of wealth means more opportunities and new use cases to address,” he adds.

Altiore Capital operates in the B2C space. Banka says that there are few to no players in the B2C space where his company operates. He informs that the products which offer similar capabilities as his are mostly based on data aggregation and information collation, whereas those are only a small part of Alitore Capital’s product.

Altiore is currently bootstrapped. Talking about having investors on board, Banka says, “We need like minded people. Our company should not be judged on a quarter-on-quarter basis. There is always a gestation period for a lead to turn into a client and it’s because of the nature of the space we are operating in. We are looking at growing 15x in the next five years given that we have the platform and the product. The only missing piece is people. We will be working towards getting people to build our teams.”

Srinath Srinivasan

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