Edelweiss Partners with Definedge Solutions
Pune, 19th September 2019: The personal wealth business of Edelweiss Wealth Management – catering to salaried professionals and HNIs, today announced a strategic partnership with Definedge Solutions, with an aim to making investment decisions simpler and quicker for its customers.
Under the aegis of this collaboration, Edelweiss will empower transactions in Definedge’s flagship software TradePoint, to help customers to transact and get access to traditional charting facilities as well as one-dimensional noiseless charts. At present, considerable time is lost due to the separate platforms being used for analysis and trade execution.
Commenting on the forthcoming partnership, Mr Rahul Jain, Head – Personal Wealth Advisory, Edelweiss said, “Technology is the cornerstone for any wealth management business to be complete. It ensures simplicity and last mile delivery for our customers. The partnership with Definedge Solutions is our way forward in democratising technology to allow a customer to take sound investment decision. At Edelweiss Wealth Management, we focus on providing unbiased advisory to our customers, which when coupled with a simplified technology solution, enables our clients to create wealth year on year”.
Edelweiss Wealth Management’s Assets under Advice (AUA), has grown at a healthy 56% since the past 8 years (FY12 to FY19), to INR 106,000 Cr from INR 90,100 Cr respectively. The business has witnessed revenue growth of 35% CAGR in the last three years. This growth is primarily driven by customised and unbiased advisory to clients and user friendly advanced technology platforms developed in-house that enable investment and trading in financial markets. In Pune, the business has also seen increase of 31% in its client base in last two financial years.
Prashant Shah, Founder, Definedge Solutions, said, “Definedge is extremely pleased to partner with Edelweiss. The partnership is a strong synergy of Edelweiss’ rich industry expertise and legacy, coupled with our domain expertise in developing charting and market analysis related software. Definedge will now get an opportunity to cater to a wider audience that is presently serviced by Edelweiss. Moreover, Edelweiss will now be able to provide its customers with access to Definedge’s best-in-class charting and analytical tools.”
Through this partnership, Edelweiss and Definedge, aim to reduce delay and facilitate customers to place trades directly from the TradePoint charting platform. Additionally, the user-friendly features of back testing and scanning will enable customers to make sound investment decisions.
The alliance will result in the integration of advanced technical analysis tools and enable order execution on a single platform. Apart from the regular windows-based desktop application, TradePoint has a browser version too.
