WealthDesk: Simple, easy, profitable wealth creation

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October 11, 2021 5:30 AM

WealthDesk is a platform that helps you discover and invest in country’s best advisors/research driven portfolios which were previously inaccessible

Ujjwal Jain, Founder & CEO, WealthDeskUjjwal Jain, Founder & CEO, WealthDesk

Ujjwal Jain has more than a decade of experience working at the confluence of computer science, technology, finance, trading and investment management industries. He worked with DE Shaw which is a leading technology-driven hedge fund as well as with MSCI, which is a leading index and ETFs provider. Having developed strong knowledge and understanding of both active and passive fund management industry that was completely driven by deep technology and a product-based approach, Jain was keen to venture out in India in this space.

Jain envisioned to build an investment technology platform. He quit his job in March 2016 and incorporated WealthDesk in June that year. The product went live in 2018 after it was initially tested to satisfy the needs of the industry. This led to the building of a B2B2C platform ecosystem for advisors, research houses getting into advisory, brokers and investors. It enables portfolio based investing on top of equities and ETFs consolidating research, advisory, broking, asset & wealth management ecosystem.

This Mumbai-based startup provides the following key products:

WealthDesk Business for Independent Advisors & Research Houses: It enables them to launch and manage direct equities and ETFs based portfolios as WealthBaskets and distribute them in an omni-channel setup through their own dedicated consumer platform where any broking customer can come discover, invest and manage their WealthBaskets.

WealthDesk Business for Brokers & Distributors: Brokers and distributors are shifting from transactional led broking to advisory/value led broking by distributing the WealthBaskets in an omni-channel setup through both online broking consumer platform and through branch and distribution channels in offline to online approach.

WealthDesk Consumer: A curated aggregator consumer platform to enable wealth management on WealthBaskets through fee-based WealthBaskets where any retail broking customer can come experience, discover, invest, manage and track these WealthBaskets.

“We have onboarded 50+ partners which includes leading brokers like JM Financial, Motilal Oswal, Anand Rathi, Prabhudas Lilladher, IIFL Securities and others,” says Jain. “The WealthBaskets have been created by some of the leading investment advisory and research firms like Quantech Capital (OpenQ), Finmo, Renaissance Investment Managers, Tamohara, Abakkus Investing, etc.” WealthDesk has till date raised $3.2 million by several investors in its first external Pre-Series A funding round led by Mathew Cyriac, former Blackstone partner and co-head of India PE.

With a rock solid deep technology base in place, WealthDesk is now going to rapidly scale up vertically and horizontally, claims Jain. “We will be bringing out state-of-the-art tools and analytics that will comprehensively support retail investors in their investment journey. On the product side, we will be focusing on extending our market leading features on WealthDesk Business to support RIAs, RAs, brokers and distributors with the most cutting edge tools that are not available on any other platform,” he adds.

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