2 min read.Updated: 12 Jun 2020, 02:37 PM ISTBrand Post
Prudent Corporate, one of India’s fastest growing integrated Wealth Management Group has completed 20 years of its journey in May 2020.
Ahmedabad, Gujarat, India – Business Wire India: Prudent was started in 2000 with an aim to provide professional services in personal and corporate investment space. Having started its operations from a single branch in Ahmedabad with a small team, over the last 20 years, Prudent has grown to become an integrated wealth management group having a strong partner network of 14000+ IFAs and a vibrant team of 970+ dedicated employees operating through 100+ branches across 19 states.
In the span of two decades, Prudent has consistently grown faster than the industry. Today, Prudent is 5th largest in terms of Equity AUM and it is among the top 10 in the country in terms of total assets under management.
Committed to its vision of being the most preferred wealth management group catering to masses, today Prudent is 3rd largest in terms of no. of retail transactions on all India basis.
Today, Prudent is proud to have TA Associates as an investor in the company since June 2018. TA Associates is a 50-year-old leading global growth private equity firm.
Sanjay Shah, Founder and Managing Director, Prudent Group said, “2020 is a landmark year for us as we have completed 20 years and we thank all our 7.37 lac+ clients, 14,000+ Partners and team Prudent for being a part of this growth journey.
For 20 years, Prudent has grown steadily by embracing challenges and Covid-19 is no different. We believe that once the Covid crisis subsides, Wealth Management industry is poised for a huge growth and we are ready to capitalize on this growth."
He added, “Despite the Covid crisis, we are determined and aligned to our growth targets of reaching Rs. 30000 Crore AUM by 2021 and Rs. 50000 Crore AUM by 2024."
Shirish Patel, CEO, Prudent Group said, “these 20 years has been an amazing journey. The key to our growth journey is Technology. Since Day 1 we have focused on harnessing the power of Technology and leveraging it for building Digital platforms to make our partners future-ready and to help their clients in navigating their financial journey seamlessly."
On the impact of current Covid-19 crisis, he said “When the country is observing lockdown, we are serving our partners and clients Digitally through our Digital Platforms. During lockdown from 23rd March till 7th June, we have processed 5.85 lac+ paperless transactions, registered 17500+ new SIPs and opened 18000+ new FundzBazar Accounts."
He further added, “Pre-Covid, adopting Digitalization was just an option but today for an IFA it has become the necessity. Having Digital Infrastructure already in place for IFAs and their clients, we feel that Covid-19 has given a significant advantage to an experienced and established player like us as more and more IFAs will now move towards aligning their business with Digital Platform like us."