Choice International Adds Rs.635 Crore AUM; Expands Aggressively in Wealth Management via multiple acquisitions
Choice International Limited (BSE: 531358 | NSE: CHOICEIN), one of India’s leading diversified financial services groups, has announced a series of strategic acquisitions marking a significant leap in its journey to scale and strengthen its wealth management business.
Through its subsidiaries, the company has entered into definitive agreements to acquire the distribution business of the Fintoo Group, which includes the distribution of Wealth Products, Insurance Products, Alternative Investment Funds (AIFs), and Portfolio Management Services (PMS) currently operated under Mihika Financial Services Private Limited and Mihika Insurance Marketing Firm LLP.
This acquisition will contribute an incremental AUM of approximately Rs.300 crores to Choice’s wealth management business. Additionally, the company has acquired Fintoo’s insurance distribution business, encompassing its client portfolio, team, IT systems, and supporting infrastructure.
Further strengthening its distribution footprint, Choice has also acquired the distribution business of Glory Prime Wealth Private Limited, a Pune-based wealth products distributor managing an AUM of Rs.???????210 crores. This acquisition enhances Choice’s presence in Western India and broadens its client base among affluent and emerging affluent investors.
The company has also formed a strategic business association with four mutual fund distributorsbased in Himachal Pradesh, under which they have merged their wealth management business with Choice, contributing an additional AUM of Rs.125 crores.
Expanding Horizons in Wealth Management
These strategic initiatives collectively underscore Choice’s accelerated expansion in the wealth and investment management space. The company is focused on building a tech-driven, multi-channel wealth platform, integrating Fintoo and Glory Prime’s strong distribution network to deliver comprehensive, personalized, and scalable investment solutions.
Mr. Arun Poddar, Group CEO, Choice International Limited, commented:“This investment aligns perfectly with our strategy of expanding Choice’s presence across the wealth and investment management value chain. Fintoo’s digital-first approach and strong client base, coupled with the robust distribution franchise of Glory Prime, will accelerate our plans to build a scalable, integrated platform that delivers superior value and convenience to investors. We continue to explore more such synergistic opportunities to strengthen our leadership in the wealth management space.”
In the recent months, Choice International has accelerated its expansion in the wealth management space through a series of strategic acquisitions. The acquisition of Arete Capital Services added Rs.5,151 crore in AUM, and together with the latest integrations, Choice’s total wealth management assets have risen from around Rs.1,000 crore to over Rs.6,800 crore — a growth of nearly seven times. This strong upward trajectory underscores the company’s focused strategy to build a tech-enabled,
client-centric financial ecosystem that caters to the evolving needs of HNI and institutional investors across India.
Above views are of the author and not of the website kindly read disclaimer
