Began this yr by former Senior Non-public Bankers, Centricity goals to construct a tech resolution for a largely unorganised unbiased monetary advisors (IFA) neighborhood and former non-public wealth professionals. The startup affords plug-and-play options for “worker to entrepreneur” (E2E) transitions.
“Centricity goals to construct a full-stack open-source monetary companies platform for IFAs, exterior asset managers (EAMs) & single-family workplaces (SFOs) to handle funding portfolios. For the primary part, we have now a complete invest-tech platform with a full-spectrum funding product market, digital transactional capabilities, and deep portfolio reporting & monitoring functionality,” stated Manu Awasthy, founding father of Centricity.
In response to Awasthy, the startup goals to combine life & non-life insurance coverage merchandise in addition to mortgages within the second part.
Centricity plans to make use of the funds to strengthen groups throughout expertise, funding product, and gross sales features and improve model consciousness. It goals to onboard 1,000-1,500 IFAs within the subsequent 24 months with a mixed transaction worth of at the very least $1 billion.
“Wealth administration is an thrilling and aggressive house. It’s encouraging to see skilled professionals from the non-public wealth administration ecosystem establish worth gaps on the expertise entrance and construct options round them. The important thing right here is to know present propositions and ache factors for each relationship managers and purchasers, after which work with industry-specific expertise groups,” stated Saket Burman.
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