Menu Close

Zerodha co-founder Nikhil Kamath launches Wealth Management Service under True Beacon

view original post

True Beacon, a Bengaluru-based financial services company founded by Nikhil Kamath and Richard Pattle, announced the launch of True Beacon Wealth to serve Ultra High Net Worth Individuals (UHNIs).

Operating under a SEBI Portfolio Management Services (PMS) licence, True Beacon Wealth will manage wealth across all asset-classes for leading entrepreneurs, individuals, families and institutional investors. True Beacon was launched in September 2019 by Zerodha co-founder Kamath and former Vice-Chairman of Standard Chartered Private Bank, Pattle.

The company offers a zero-standing fee model to over 500 UHNIs and HNIs, with 40 industry professionals between the head office in Bangalore, a branch office in Gujarat International Finance Tec-City (GIFT City) serving global clients, and representative offices in Mumbai and Delhi.

Building on their SEBI-regulated Category-III Alternative Investment Fund (AIF) products and client base, True Beacon Wealth is aimed exclusively at UHNIs. The company said it takes a holistic approach to the needs of investors through active asset allocation, tech-enabled transparency, dynamic risk profiling, a highly-competitive fee structure, and legacy and next-generation planning. True Beacon’s clients will also be able to leverage strategic opportunities within its global network of entrepreneurs at promoter level.

Commenting on the launch of the new wealth management service, Pattle, Co-founder and CEO, True Beacon, said, “My time in international private banking reinforced the growing need for sophisticated and bespoke wealth management globally, including India.”

Kamath, said, “Having launched three AIFs over nearly three years, True Beacon Wealth is the natural next step.”

True Beacon launched the first operational hedge-fund in GIFT City, a special economic zone (SEZ). The Fund provides a route to global investors that are seeking exposure to Indian capital markets.

Published on June 15, 2022