Iifl Wealth Management Limited (Mumbai, Maharashtra)

Name: Iifl Wealth Management Limited
Address: Iifl Centre, Kamala City, Mumbai, Maharashtra, 400013
Telephone: +91 22 39585600

Iifl Wealth Management Limited is an adviser based in Mumbai, Maharashtra. It manages $336.72 million of regulatory assets for 87 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Florida and Texas.

Iifl Wealth Management Limited provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for less than 10 clients. On top of advisory services, the firm also engages as distributor.

Iifl Wealth Management Limited: assets under management

The assets under management (AUM) of Iifl Wealth Management Limited is $336.72 million. The firm's AUM has grown by 0% since the beginning of its operation, and $327.77 million of the total AUM is attributable to clients outside of the United States.

The firm manages $271.94 million in discretionary accounts and $64.78 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $4 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.41 million.

Investments

The firm invests in pooled investment vehicles the most. They account for 59% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in investment grade corporate bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Iifl Wealth Management Limited for their services and products based on fixed fees and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Nirmal Bhanwarlal Jain serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Nirmal Bhanwarlal Jain is high net worth individuals with 38 clients and $295.14 million of assets under management. Among the 12 most similar advisory firms, Iifl Wealth Management Limited has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $322.43 million for 83 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 97% of the firm’s clients are foreign persons or businesses.

Iifl Wealth Management Limited doesn't advise any private funds.

Careers at Iifl Wealth Management Limited

The company employs 589 people that are either part- or full-time employees. No employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Nirmal Bhanwarlal Jain has been acting as President since 1 Jan 2008. Fih Mauritius Investment Limited joined the executive team most recently as the Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Nirmal Bhanwarlal Jain	Director	1 Jan 2008	Other	7112972
Venkataraman Rajamani	Director	1 Jan 2008	Other	7112973
Iifl Holdings Limited	Shareholder	1 Jan 2008	50% - 75%	foreign
Yatin Shah	Director	1 Sep 2010	Other	7112977
Karan Bhagat	Director	1 Sep 2010	Other	7112979
Ashutosh Ashok Naik	Chief compliance officer	1 Jan 2011	Other	7088465
Nilesh Shivji Vikamsey	Director	1 May 2013	Other	7112974
Geeta Mathur	Director	1 Mar 2015	Other	7112976
Sandeep Achyut Naik	Director	1 Feb 2016	Other	6177898
Shantanu Rastogi	Director	1 Feb 2016	Other	6774000
General Atlantic Singapore Fund Pte. Ltd.	Shareholder	1 Feb 2016	Other	foreign
Mihir Nanavati	Chief financial officer	1 Jan 2017	Other	7112980
Vipul Gala	Head - operations	1 Jul 2018	Other	7112982
Sonali Tendulkar	Compliance officer	1 Jan 2019	Other	7088466
Fih Mauritius Investment Limited	Shareholder	1 Jun 2019	Other	foreign
Subbaraman Narayan	Director	1 Jun 2019	Other	7156961

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Fairfax India Holdings Corporation	Shareholder	1 Nov 2014	50% - 75%	foreign
Fairfax Financial Holdings Limited	Shareholder	1 Nov 2014	50% - 75%	foreign
Fih Mauritius Investment Limited	Shareholder	1 Dec 2015	25% - 50%	foreign

Based in Mumbai, Maharashtra

The principal office where Iifl Wealth Management Limited performs its advisory services is located at Iifl Centre, Kamala City, Mumbai, Maharashtra, 400013, which is also the mailing address of the firm. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number +91 22 39585600 or by fax +91 022 46464706. The normal business hours are 9am - 6pm on Monday - Friday. You can find more information about the New York firm at iiflw.com.