IIFL Wealth Management Ltd. is an Indian
wealth management firm, headquartered in
Mumbai,
India. The company has a presence in 7 countries and 23 locations in India.
[ It offers wealth management, ]asset management
Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...
, portfolio management services, investment
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing i ...
products, treasury services, estate planning and lending among others. The company has been rated as A1+ by rating agencies such as CRISIL[
, IIFL Wealth Management has around in assets under management, which excludes custody assets.
]
History
IIFL Wealth was founded in 2008. It operated as a subsidiary of IIFL Holdings, a diversified publicly traded
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (list ...
financial services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...
company, backed by Fairfax Financial
Fairfax Financial Holdings Limited is a Canadian financial holding company based in Toronto, Ontario, which is engaged in property, casualty, insurance and reinsurance, investment management, and insurance claims management. The company operate ...
, until the demerger of the IIFL Group into three separately listed entities, one of which is IIFL Wealth.
The equity shares of IIFL Wealth Management are listed on the Bombay Stock Exchange and National Stock Exchange of India.
In December 2018, IIFL Wealth Management launched the IIFL Wealth Index 2018 series, in partnership with Wealth-X.
Acquisition
In April 2020, IIFL Wealth completed the acquisition of 100% equity shares of L&T Capital Markets (LTCM), a wholly owned subsidiary of L&T Finance Holdings. The acquisition was for a total cash consideration of 230 crore plus available cash balance of LTCM.
In October 2018, the company acquired a Chennai-based wealth management firm, Wealth Advisors India for .
Funding
In June 2018, the company raised from Ward Ferry, General Atlantic and others.
The New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
based PE firm, General Atlantic acquired 21.61 per cent stake in IIFL Wealth Management for in October 2015.
Ranking
* A1+ Rated by CRISIL in 2020.
Subsidiaries
* IIFL Asset Management Limited
* IIFL Trustee Limited
* IIFL Investment Adviser and Trustee Services Limited
* IIFL Wealth Distribution Services Limited (formerly known as IIFL Distribution Services Limited)
* IIFL Wealth Prime Limited
*IIFL Wealth Securities IFSC Limited
*IIFL Altiore Advisors Ltd.
*IIFL Wealth Portfolio Managers Limited (formerly known as IIFL Portfolio Managers Limited)
*IIFL Wealth Capital Markets Limited (formerly known as L&T Capital Markets Limited)
*IIFLW CSR Foundation
* IIFL Private Wealth Management (Dubai) Limited
* IIFL Inc
* IIFL Private Wealth Hong Kong Ltd
* IIFL Asset Management (Mauritius) Limited
* IIFL (Asia) Pte. Limited
* IIFL Capital Pte. Limited
* IIFL Securities Pte. Limited
* IIFL Capital (Canada) Limited
References
External links
Company Overview of IIFL Wealth Management
We want to buy growth, not recovery: Karan Bhagat, IIFL Wealth & Asset Management
at The Economic Times
A Wealth of Experience
at Business Today (India)
{{DEFAULTSORT:IIFL Wealth
Investment management companies of India
Financial services companies based in Mumbai
Indian companies established in 2008
Companies listed on the National Stock Exchange of India
Companies listed on the Bombay Stock Exchange
2008 establishments in Maharashtra