ACM signs MoU with iFAST India to acquire the RIA Biz
Mumbai : Asit C. Mehta Financial Services ltd group (ACMFSL), one of the leading fintech conglomerates in Indian equity markets, has signed a Memorandum of Understanding (MoU) with iFAST Financial India Pvt Ltd (iFAST India) to acquire their Registered Investment Advisor (RIA) business platform that helps independent financial advisers provide fee-based multi-asset advisory services. The RIA platform proposes to offer unparalleled advisory and investment options to investors. iFASTIndia is a part of iFAST Corporation Ltd (iFAST Corp), one of Asia’s largest wealth management fintech platforms headquartered in Singapore.
Mrs Deena Mehta, Group MD, ACMFSL group, said “As a company with close to 40 years of unblemished legacy, we are extremely confident that with the kind of technology we bring to the fore, investment advisory and experience that we have in capital markets, we will be able to add lots of value to the introducers and clients of iFAST. We are really excited and looking forward to the relationship”
Erik Hon, MD, iFAST Financial India Pvt Ltd, said “We have had multiple conversations with the management and leadership team of Asit C Mehta Financial Services Group and we believe that with their fantastic track record of the equity markets and investment advisory, we at iFAST are sure that the client base and introducer base that we have been able to onboard, will be handled very well by the team at ACMFSL and their group company. We are going to offer all support during the period of this transition. We wish the entire team of ACM and their group companies the best of luck”
Mr. Anand Varadarajan, Director – Innovation & Growth, ACMFSL, said “We have been having multiple conversations with iFast, their introducers and clients, we believe that the fantastic capabilities that we posses in terms of providing state of art investment products and investment solutions, we will be able to add great degree of value to investors wealth creation process and we are confident that we will be able to carry iFAST legacy forward in a fruitful manner to the next level in the many years to come”
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