True Beacon, a Bengaluru-based financial services company founded by Nikhil Kamath and Richard Pattle, has announced the launch of True Beacon Wealth to serve Ultra High Net Worth Individuals (UHNI).
Operating under a SEBI Portfolio Management Services (PMS) license, 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 Standard Chartered Private Bank vice president Pattle.
The company offers an ongoing zero fee model to over 500 UHNI and HNI, with 40 industry professionals spread across the head office in Bangalore, a branch in Gujarat International Finance Tec-City (GIFT City) serving global clients and representative offices in Mumbai. and Delhi.
Leveraging its SEBI-regulated Category III alternative investment fund products and clientele, True Beacon Wealth caters exclusively to UHNIs. The company said it takes a holistic approach to investors’ needs through active asset allocation, technology-based transparency, dynamic risk profiling, a highly competitive fee structure, and legacy and new planning. generation. True Beacon clients will also be able to take advantage of strategic opportunities within its global network of promoter-level entrepreneurs.
Commenting on the launch of the new wealth management service, Pattle, co-founder and CEO of True Beacon, said: “My time in international private banking has reinforced the growing need for sophisticated, bespoke wealth management in the globally, including in India.
Kamath said: “After launching three AIFs in 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 an avenue for global investors seeking exposure to Indian capital markets.
June 15, 2022