City-based wealth management firm WealthApp, which is seeing a steady growth of 25-30 new clients per month, is looking to expand its business and presence.
The firm was managing assets of around 1,500 client families at the end of December 2024, group CEO Anindya Paulchaudhuri said. It is looking at managing assets of over ₹1,700 crore by this December against ₹1,100 crore at the end of last year.
“Market fluctuation is leading to redemption. But our clients have been patient,” he said.
“While our aspiration to achieve an AUM of ₹2,025 crore by the end of 2025 will likely fall short marginally, we are proud of the solid foundations we continue to build,” he said.
“We have opened a larger office in Calcutta and we are looking to open our office in BKC in Mumbai in a year or two. We have also inducted 4 former senior bankers into our team,” he said. Mumbai and Gujarat are among the key markets where the firm is looking to grow.
“The rapid expansion of our family office services in key metropolitan markets highlights the demand for bespoke financial solutions,” said Soumyajit Ghosh, group CIO of WealthApp.
The global business vertical has also garnered over $1 million in new business.
“Opportunities in foreign exchange and other cross-border financial solutions are proving to be transformative for our clients,” said Rahul Johri, chairman of WealthApp Family Office.