Choice Broking Acquires Arete Capital, AUM Hits Rs 6K cr
Choice Broking has acquired wealth management firm Arete Capital Services, expanding its AUM to Rs 6,241 crore. The acquisition strengthens Choice Broking's position in the wealth management and investment advisory space.
New Delhi, Feb 17 (PTI) Choice International's broking arm on Monday said it has acquired wealth management firm Arete Capital Services for an undisclosed sum.
With this acquisition, the brokerage firm's total wealth management assets under management (AUM) will grow to Rs 6,241 crore from Rs 1,090 crore, representing nearly a six-fold expansion in its total AUM base, the company said in a statement.
Arete Capital Services had an AUM of Rs 5,151 crore.
Further, it will strengthen Choice Broking's position in the wealth management and investment advisory space, it added.
"With Arete's strong reputation and expertise, we are confident in our ability to deliver superior investment solutions and personalised financial planning for HNIs and institutional clients," Arun Poddar, CEO & Executive Director at Choice International, said.
The move emphasises our vision of offering technology-driven, research-backed financial solutions that empower investors to achieve long-term wealth creation, Poddar added.
With this acquisition, the brokerage firm's total wealth management assets under management (AUM) will grow to Rs 6,241 crore from Rs 1,090 crore, representing nearly a six-fold expansion in its total AUM base, the company said in a statement.
Arete Capital Services had an AUM of Rs 5,151 crore.
Further, it will strengthen Choice Broking's position in the wealth management and investment advisory space, it added.
"With Arete's strong reputation and expertise, we are confident in our ability to deliver superior investment solutions and personalised financial planning for HNIs and institutional clients," Arun Poddar, CEO & Executive Director at Choice International, said.
The move emphasises our vision of offering technology-driven, research-backed financial solutions that empower investors to achieve long-term wealth creation, Poddar added.
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