Pickright Technologies, a smart investment platform, and SEBI Registered Investment Advisory (RIA) that uses Deep Tech, AI, and ML modules to build smart portfolios, has recently joined hands with Bajaj Financial Securities Limited(BFSL), a 100% subsidiary of Bajaj Finance Ltd., to offer thematic investment ideas on the BFSLTRADE App. With this partnership, retail investors can now invest in diversified portfolios in one click and get the best research and advisory services to ease stock selection to build a long-term portfolio.
Pickright will offer different invest packs that are theme-based investment picks like women, student, and retired person-centric invest packs with many more financial products through the BFSLTRADE APP. BFSL clients can place multiple orders without worrying about brokerage as the charges of BFSL is one of the lowest brokerage rates and lowest MTF (Margin Trade Funding) interest rates in the industry.
In order to become the complete package of wealth management and financial planning for investors, the wealth tech startup aims to leverage and offer complete E2E financial planning and intelligent monitoring services to BFSL customers in the 6-9 months.
Commenting on this partnership, Archana Elapavuluri, Co-Founder of Pickright Technologies said, “Our partnership with BFSL as a wealth tech partner is an essential step towards simplifying investments for every retail investor and becoming a one-stop solution for all their financial goals. We will be providing ready to invest theme-based diversified smart portfolios that are managed, monitored, and rebalanced, Thus providing a truly delightful experience to BFSL customers. With this collaboration, we are looking to target at least 30% of the total user base of the platform to be on Pickright in the next 6 months.”
Commenting on the partnership, Manish Jain, CEO, Bajaj Financial Securities Limited (BFSL) said,” Since the lockdown, there has been an upsurge in the new Demat Accounts, and investors are keen to start their wealth creation journey. A significant percentage of these investors opening Demat and Trading accounts today are new to the market and seek guidance for stock selection. Pickright has been garnering lot of interest amongst Indian investors for their theme-based investment picks. We are confident that our collaboration with Pickright will provide our clientele the expert assistance to help them seamlessly save, plan, invest and manage their wealth creation journey, all at a single click.”
Pickright has already partnered with 10 more brokerages, retail tech, and other B2C companies in other domains to provide E2E wealth solutions for retail users.