5Paisa.com, India’ only listed discount broker with over 2 million customers today said that it has partnered with Tavaga Advisory Services, a SEBI Registered Investment Adviser (RIA) to provide simplified investment advisory services to its clients for sustained wealth creation.
Through the 5Paisa-Tavaga partnership, both companies intend to bring more consumers into the investing universe, who are until now exposed to the traditional methods of investing.
Talking about the objective behind this tie-up, Ankit Fitkariwala, Chief Business Officer (CBO) at 5paisa.com said, "Indian financial sector has evolved substantially in the last 20 years in terms of regulations, risk management, and operations. However, retail penetration in the stock markets is very low. 5paisa.com, which is ranked sixth in equity broking industry league, aspires to enter into the top three club in next 12-18 months by bringing more retail participation. With Tavaga’s vision of financial inclusion, 5Paisa.com, aims to give retail investors access to best-in-class investment advisory to manage their investments.”
Giving insights on the advisory objective, Nitin Mathur, Co-founder and CEO, Tavaga said, "Sophisticated financial advice should not be a prerogative of the privileged. While retail investors at the top end of the wealth pyramid have access to good quality advice, there is a lack of incentive to serve the larger pool of population. Tavaga aims to disrupt the traditional wealth management landscape by democratising investment advisory and reducing intermediaries in the value chain.”
Mathur added, “Tavaga is committed to empower retail investors by giving them access to unbiased investment advisory services across all financial products, suited to their risk appetite and financial goals, without putting a hole in their pocket.”
Fitkariwala concludes, “Combination of Tavaga’s unbiased advisory model complemented by 5Paisa execution prowess makes this partnership unique in the market and will help transform the vision of financial inclusion to reality.”