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Edelweiss sees 177% surge in mobile app usage in Bhubaneswar in FY19

Edelweiss Personal Wealth Advisory has witnessed an increase of 25 per cent in its client base in Bhubaneswar in the last two financial years

Jayajit Dash  |  Bhubaneswar 

Mutual funds, Investments, Funds. Photo: iStock
Representative image | Photo: iStock

The personal wealth management arm of Global Investment Advisory, Personal Wealth Advisory, has seen its mobile application usage soaring 177 per cent in Bhubaneswar in FY19, bettering the nationwide average of 102 per cent. The mobile app, Mobile Trader (EMT) mostly serves the salaried professionals and High Net Worth Individuals (HNIs) and is used by them for trading and investing.

“In revenue terms, we have registered 35 per cent CAGR (compounded annual growth rate) over the last three financial years in Bhubaneswar. Over 50 per cent of our user base in the city comprises millennials. Unbiased advisory and information offered on performance of stocks and on the economy is our forté”, said Rahul Jain, head (personal wealth advisory), Edelweiss.

Edelweiss Personal Wealth Advisory has witnessed an increase of 25 per cent in its client base in Bhubaneswar in the last two financial years. The company has attributed its growth to customized and unbiased advisory provided to investors and user friendly and advanced technology platforms that have been developed in-house to enable easy investment and trading in the financial market.

Going ahead, Edelweiss plans to roll out services like Direct Mutual Fund and National Pensions Services (NPS). Under Direct Mutual Fund, the brokerage charges for investors would be cut down by half.

“India is in its exciting phase and it is the right time to adapt to the changing needs in the wealth management industry. As we move towards the dream of becoming a $5 trillion economy, I feel technology will play a crucial role in our business”, said Jain.

First Published: Thu, November 21 2019. 16:00 IST
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