Kotak Securities is in the process of acquiring Bangalore-based wealth management platform FundExpert, the company said in a release today.

The acquisition will be done through Kotak Securities’ Startup Investments and Partnerships Team and is likely to be completed in a month, the company told BusinessLine.

Founded in 2020, FundExpert offers affordable and digital multi-asset wealth management solutions to over 2,300 independent financial advisors (IFAs) and mutual fund distributors, who currently manage portfolios worth more than ₹15,000 crore, the release said.

FundExpert said that building and developing high-tech solutions needs deep pockets and brand reliance, and that Kotak Securities will help empower existing partners by giving them a digital identity, the required technology and research solutions.

“This acquisition is part of our strategy in scaling IFA-led distribution business with the Kotak brand, our distribution network and vast experience in the financial services sector,” Jaideep Hansraj, MD and CEO of Kotak Securities was quoted as saying.

A full-service stock broker, Kotak Securities has 173 branches, and 1,306 franchisees and satellite offices across 382 cities catering to 32.8 lakh active customers as of June 30.