PRNewswire
Chennai (Tamil Nadu) [India], September 3: AssetPlus, a fully digital wealth management platform designed for India's Mutual Fund Distributors (MFDs), has launched Portfolio Management Services (PMS). Backed by dedicated support at every step, certified partner MFDs can now onboard, track, manage and report on PMS for eligible high-net-worth clients from within AssetPlus. Distribution requires the NISM Series-XXI-A certification mandated by SEBI, for which AssetPlus Academy provides end-to-end training and support.
Assets in the HNI-facing PMS segment, excluding EPFO and provident fund money, have crossed ₹10 lakh crore, according to SEBI data, up from about ₹5 lakh crore in FY21. The client base has grown alongside it, to roughly 2.2 lakh, per SEBI and APMI data. SEBI has also simplified PMS distribution, introducing formal registration for distributors through the APRN framework. As MFDs' own clients cross this threshold, partners have typically had to track the relationship on a second, disconnected system. AssetPlus believes serving this segment well means giving partners a way to manage that relationship themselves, not hand it off.
"Some of our partners have worked with the same client since AssetPlus's earliest years, when their first investment was a modest SIP," said Vishranth Suresh, Co-founder and CEO, AssetPlus. "A decade on, that client's wealth has grown many times over, and with PMS, so has their partner's ability to serve them. That's the kind of platform we want AssetPlus to be: one that partners build their entire practice on, not just where they start."
PMS gives a client an individually managed portfolio, built around their own goals and risk profile, unlike the pooled structure of a mutual fund. It is run by a SEBI-registered Portfolio Manager, and investments sit directly in the client's own demat account.
AssetPlus partners get:
- End-to-end NISM Series-XXI-A certification training and support through AssetPlus Academy, so partners can get PMS-ready
- One dashboard and app for partners and clients, from onboarding to reporting
- Daily portfolio updates, holdings, performance and valuation in one view, a first for PMS distribution platforms in India
As mandated by SEBI, the minimum investment is ₹50 lakh, and the offering is governed by the SEBI (Portfolio Managers) Regulations, 2020. Disclosure documents and regulatory information are provided by the respective Portfolio Managers.
"Every Portfolio Manager reports holdings and valuations in a different format; most systems reconcile that periodically," said Awanish Raj, Co-founder and CTO, AssetPlus. "We built AssetPlus PMS to reconcile it daily instead, so partners and clients see an updated portfolio every day, not once a month. That makes us the first PMS distribution platform in India to do it, and it's the piece we spent the most engineering time getting right."
AssetPlus works with over 22,000 MFD partners across India, who together manage more than ₹9,000 crore in assets under management, run a monthly SIP book exceeding ₹150 crore, and serve ~2 lakh investing customers. Since its founding in 2016, the platform has expanded from mutual fund distribution into insurance, NPS, LAMF, CFDs and SIFs, with PMS as its newest addition.
PMS, backed by AssetPlus Academy's certification support, is AssetPlus's latest step in helping partners serve clients at every stage of their wealth management journey.
About AssetPlus
Founded in 2016, AssetPlus is a fully digitally-assisted wealth management platform built for India's Mutual Fund Distributors (MFDs). The platform gives partners seamless client onboarding, access to a wide range of financial products, and tools to manage clients efficiently. AssetPlus works with over 22,000 MFD partners across India, who together manage more than ₹9,000 crore in assets under management, run a monthly SIP book exceeding ₹150 crore, and serve ~2 lakh investing customers.
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AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
