True Beacon launches wealth management service for UHNIs – Devdiscourse

Financial services company True Beacon on Wednesday launched a new wealth management service True Beacon Wealth for ultra-high net worth individuals (UHNIs) across the globe.

Operating under a Sebi portfolio management services licence, the company will manage wealth across all asset classes for leading entrepreneurs, individuals, families and institutional investors, co-founder of True Beacon Richard Pattle said.

True Beacon was established in 2019 by Nikhil Kamath, who is also the co-founder of stock broking platform Zerodha. It is a disruptive asset management company with a zero-standing fee model, wherein only the gains are charged at 10 per cent at the end of the financial year.

Headquartered in Bengaluru, True Beacon manages assets worth Rs 1,500 crore with over 500 HNI (high net worth individuals) and UHNI (ultra-high net worth) clientele world over.

Building on their Sebi-regulated Category-III Alternative Investment Fund (AIF) products and client base, True Beacon Wealth is aimed exclusively at UHNIs, Pattle said.

”It takes a holistic approach to the complex needs of sophisticated investors through active asset allocation, tech-enabled transparency, dynamic risk profiling, a highly competitive fee structure, and legacy and next-generation planning. Clients will also be able to leverage strategic opportunities within True Beacon’s global network of leading entrepreneurs at the promoter level,” Pattle told PTI in an interaction.

UHNI means a person having a net worth of more than USD 30 million, according to Knight Frank’s wealth report. ”We want to add value to our clients, not only through our long-term comprehensive investment approach but also through access to our strong, collaborative, global community of leaders.

”We hope to make the industry more transparent, and competitive, and enhance client service levels through deep and lasting relationships. Having launched three AIFs over nearly 3 years, True Beacon Wealth is the natural next step,” Kamath said.

According to him, True Beacon is aiming to make wealth management more holistic, with a very competitive fee model and distinctive strategic value offering to its key clients.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)