Fintso, a wealth-tech start-up focussed on providing wealth solutions to the financial advisory space, has launched its Global Investing services in association with Stockal – a fintech platform that enables investments in a diverse set of global assets.
This association is aimed towards aiding access to financial advisors in the global investment market for clients they service.
Indian retail investors have been gaining interest in diving into global markets y-o-y. Indians remitted over USD878.8 million for investments abroad in the fiscal year 2018-19 from USD246.9 million in FY15 indicating the growing interest in diversifying their portfolios globally. This was mainly limited to the HNI space, with affluent and retail clients missing out on the opportunities due to the lack of a seamless access.
Fintso, which is backed by some marquee investors, has created unique portfolios, as part of the offering that advisors can showcase and integrate into their client’s portfolios. Focussed on the US markets, these include themes on Innovation, cutting edge technology and mega trends. Each of these has been enabled to accept small amounts, allowing advisors to start building out their client exposure over a period of time.
On this partnership, George Mitra, Co-founder and CEO of Fintso, says: “We believe that access to global investments provides an opportunity to not only reduce risk through diversification but also provide opportunities that go beyond the domestic market. Integrating with existing portfolios will simplify monitoring, and enable consolidated reporting as this is the need of Advisors, It will help to make this HNI product as available to the wider retail base in India.
“The deep technology, and associations that Stockal has built over time, enabled us to seamlessly integrate. With the increased awareness of global brands and markets, independent financial advisors were looking for a holistic solution for their clients, and this association allows us to provide just such a 360 degree solution. Along with the execution solution, we have integrated portfolio reporting with the existing investments (a large part being in Mutual funds), of the advisor’s clients. It is the first time that non-banking firms, Individual Financial Advisors firms and advising practicing individuals can offer overseas products to their clients seamlessly, as a part of their integrated portfolio.”
Sitashwa Srivastava, Co-founder & Co-CEO of Stockal, says: “We’re very excited by the prospect of what Fintso and Stockal can achieve together. Fintso is uniquely built to infuse greater efficiency in the financial advisory ecosystem in India. With Fintso, Stockal’s global investing platform will become available to thousands of financial advisors and we believe that’s a great way of exposing hundreds of thousands of investors to international markets. And of course, this will also help advisors deliver wholesome advice to their clientele.”
This integration is in sync with Fintso’s goal of democratising wealth management – assisting Independent advisors with wider access to products, tools to create portfolios, product selection, execution and monitoring portfolios to enable them to fully go digital in their offering.