WealthDesk, an investment technology platform, announced on Monday that it is offering WealthBaskets, a portfolio of stocks and ETFs created by various investment advisers on Kotak Cherry, a tech-led investment platform under Kotak Investment Advisors Limited (KIAL).
Kotak Cherry customers can invest in stock baskets and ETFs through WealthBaskets, thus giving them access to premium investment solutions using their existing broking account by simply logging in to the Kotak Cherry mobile app/website.
WealthDesk's unified wealth interface (UWI) is an internet-scale wealth management ecosystem that enables access to innovative investment and wealth management solutions for millions of Indians with broking accounts.
WealthBaskets will facilitate systematic and regular investments into stock and ETF baskets, at affordable ticket sizes starting from Rs 5,000. Offered by investment advisers each WealthBasket reflects an investment strategy, theme, or sector. Users can log in with any broker available through the Embedded WealthDesk Gateway (EWG) on the Kotak Cherry platform to execute and manage these portfolios seamlessly.
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Ujjwal Jain, Founder and CEO, WealthDesk said: "At WealthDesk we are constantly working towards democratizing wealth creation opportunities for millions of Indians. With the increasing number of retail investors across India, our focus is to expand access to systematic Wealth Management solutions through esteemed SEBI registered investment advisors under our Unified Wealth Interface (UWI) vision.
"We are delighted to partner with Kotak Cherry who shares our vision of facilitating holistic investing solutions to drive capital market participation. With Kotak Cherry, we aim to bring more people to the capital market and empower them with accessible & superlative products for investments."
Srikanth Subramanian, CEO, Kotak Cherry, said: "Our association with WealthDesk highlights our intent of being an open architecture platform to be able to truly democratize access to various investment solutions. This also demonstrates our technological capabilities to deliver a superior/efficient customer experience for the digital investor who expects a seamless and convenient journey while navigating through multiple investment options."
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With over 3 million downloads since its launch in June 2022, Kotak Cherry is a DIY investment platform that hosts holistic solutions ranging from stocks, bonds, mutual funds, fixed deposits to progressive investment opportunities like exchange traded funds.
Leveraging the domain expertise of Kotak, it aims to democratize access to investment solutions through technology.
