Tag: ET Money

News

ET Money Surpasses INR 60,000 Crore in Asset and Also Emerges as India’s Largest Advisory-Based Wealth Management Firm

May 3, 2024 by Sujata Muguda 0 Comments #CAGR, #ET Money, #Mukesh Kalra

New Delhi, May 3, 2024: ET Money, India’s leading investment platform, has become a top player in the country’s rapidly expanding online wealth management market by focusing on long-term wealth accumulation for affluent Indians. This strategic choice has allowed them to avoid the allure of short-term stock trading. As of March 31, the platform helped its users manage INR 63,000 crore (approximately $8 billion) in investment assets and, on an average, is adding INR 2,700 crore of new assets every month.

The company’s subscription-based advisory service, ET Money Genius, has also demonstrated significant growth, with its paid subscriber base expanding at a compound annual growth rate (CAGR) of 162% over the past two years. This growth has positioned ET Money as India’s largest Registered Investment Advisor (RIA) in terms of the number of paid customers. ET Money Genius is unlocking a new customer segment with annual income between INR 10 lakh to INR 1 Crore—a demographic previously unable to afford high-end wealth management services offered only to the ultra-rich Indians. By leveraging technology, ET Money Genius offers affordable access to sophisticated advice for just INR 249 per month, pioneering a subscription model in the wealth management sector that mirrors successful strategies in the OTT space in India.

“Our growth in assets and Genius indicates the rapidly compounding Trust of our users in ET Money”, states the CEO of ET Money, Mukesh Kalra. “By eliminating commission fees on mutual funds and introducing a transparent, flat-rate advisory fee with our Genius service, we continue to deeply align our business objectives with our customers’ financial success”

ET Money has been consistently gross-profitable each month for the last 11 months and has shown robust revenue growth at a CAGR of 90% over the last three years. Notably, about 70% of its revenue is recurring in nature. Additionally, nearly all its new investors in the past nine months discovered ET Money organically through word-of-mouth referrals, and the company boasts an annual user retention rate of over 90%. Another boost to ET Money’s financial profile would be the recently announced Execution Only Platform (EOP) license by SEBI, which would allow ET Money to monetise direct mutual funds and improve its gross margin to go beyond 80%. High user trust and retention combined with a recurring revenue business model and improving gross margins suggest ET Money is on a solid path to long-term profitability and growth.

Business

ET Money’s new branding strategy speaks to the changing Indian dynamic with money, breaking yesteryear’s set pattern of investing behaviour

Jan 22, 2022 by Praveen 0 Comments #ET Money, #investing behaviour

ET Money, one of India’s fastest growing investment and wealth management platforms, today unveiled a new brand identity that expresses its unique dynamic approach to personal financial growth.

This new approach comes on the back of a deep consumer understanding exercise that revealed a growing phenomenon, that of individuals breaking away from the pattern of life stages and goals and consequently from set ways of looking at investing their money. Being a digital only investment platform, ET Money believes it is perfectly poised to speak to the individual investor and their evolving mindset around money and wealth.

The key focus of ET Money’s new branding strategy, as a result of this shift in consumer mindset is the focus on personalization. The consumer landscape has altered dramatically from most people operating from a collective of feeling inadequate when it comes to handling their finances to being driven by strong individual desires around life, as well as a highly nuanced and variable risk-reward imagination.

To ensure a hyper-personalized experience for this new reality of Indians, ET Money has revamped its entire App, brand identity as well as a new design system. It has unveiled a new logo, called Wheel of Wealth that signifies stability, protection, personalized approach to wealth & the sense of freedom that wealth gives to an individual to make & live their life choices. The new app sports a new refreshing money green colour, bold black and smart white. The app dons an always-on dark theme. It has also changed how it spells the brand name from ETMONEY to ET Money to align to how users of the App preferred to spell it.

The revamped brand is all set to introduce ET Money Genuis, a membership service that will make it possible for individuals to build unique portfolios to suit their distinct personality and risk profile. Powered by the investing intelligence of ET Money.

With a renewed App experience and the revolutionary ET Money Genius, ET Money is staking a claim to become India’s largest Registered Investment Advisor (RIA) within a few months of launch. Speaking on the launch, Mukesh Kalra, Founder & CEO, ET Money said, “SEBI has a vision for the Wealth Management industry & that vision has a prominent role for RIAs who are supposed to be fiduciary to their clients & not create a business model on commissions or brokerage. ET Money has led the way for the industry making Direct Mutual Funds as a preferred way to participate in India’s growth story & now we are deepening our commitment further by bringing in hyper personalized investment intelligence to our investors & become India’s largest RIA by number of paying clients. ET Money Genius will start rolling out beginning January 25, 2022 and culminate into a public launch by February 8, 2022.