Edelweiss Wealth Management (EWM)‘s strategy to appoint relationship managers (RM’s) for clients has helped it expand its subscriber base, Rahul Jain, President & Head – Personal Wealth, Edelweiss Wealth Management, said.
EWM has increased the number of dedicated RMs for clients by 25 per cent over the previous fiscal, he told presspersons while opening a new branch in Kochi.
With this, the wealth management office will now have one branch and a franchisee network of 38 partners in Kerala. Plans are afoot to open branches in Thiruvananthapuram and Kozhikode shortly. “We currently have 68 branches and are looking at 100 branches in India,” he said.
The Covid pandemic jolted the wealth management industry and forced it to adapt to new circumstances. EWM evolved into a hybrid business long before the pandemic. This strategy provides bespoke services virtually, and through dedicated relationship managers, he added.
With clients seeking differentinvestment avenues, the company is confident about increasing its user base by 50 per cent in Kochi by the end of FY 23, he said.
The Edelweiss Mobile Trading (EMT) application has shown a significant increase in user base across Kochi. The company’s internal analysis basis, in-house mobile trader’s Google analytics data for the period FY22, reveals a 30 per cent growth in investors leveraging the EMT application in Kochi. The number is 37 per cent for Kerala and 37 per cent for India.
Edelweiss’ personal wealth’s diversified product suite has also contributed to 68 per cent growth in FY22.