How Ionic Wealth wants to redefine wealth management in India

India’s investment landscape is rapidly changing. Individuals and families are now moving beyond traditional assets like gold, land, and fixed deposits, and exploring equities, mutual funds, commodities, and even digital assets.

While this evolution has created a fertile ground for the wealth management industry, access to these services has largely been limited to a certain class of ultra-rich investors.

Ionic Wealth, a wealth management firm headquartered in Mumbai and part of Angel One, wants to change this model. The firm is betting on a mix of technology and human expertise to make wealth management inclusive, not just for ultra-high net worth individuals (UHNIs), but also the growing affluent class.

The signs are very clear on various parameters. The increased participation of retail investors in the stock markets, the growth in systematic investment plan into mutual funds, exposure to international markets sitting out of India, commodities market, assets like crypto, etc. These kinds of investment opportunities generally require a sophisticated advisor, and Ionic Wealth wants to fill this gap.

“After the growth of asset management, the need for a wealth manager becomes more pronounced,” says Srikanth Subramanian, co-founder of Ionic Wealth.

Riding a market boom

According to a report by Deloitte India, the demand for wealth management services in terms of assets under management (AUM) will almost double, from $1.1 trillion in FY24 to $2.3 trillion by FY29. This is creating substantial opportunities for both established players and new entrants in the sector.

It is here that Ionic Wealth aims to play a different kind of a role. Generally, wealth management firms cater to the requirements of the UHNIs, those with a net worth of Rs 25 crore and above. But Ionic Wealth, however, is betting on the growing population of high-net-worth individuals (HNIs) with Rs 1 to 25 crore in assets, who need guidance but often remain underserved.

This is largely due to the changing profile of investors with high disposable income whose net worth is above Rs 1 crore. Also, there is considerable wealth generation in cities beyond the metros, especially the Tier II locations.

“We saw an opportunity to reach out to a wider range of people by leveraging technology,” says Subramanian.

Tech powered wealth manager

According to Shobhit Mathur, co-founder of Ionic Wealth, the company is leveraging technology to enhance the rigour in its research where it can generate new insights on investments. It also aims to deepen the expertise of its bankers through technology.

“We aim to make every banker of ours a super banker where all the necessary information is available on their dashboards,” says Mathur.

The firm has already developed a proprietary AI platform that creates customised investment solutions tailored to each investor’s profile and financial history.

Subramanian says, the key difference is how it creates a solution for each individual customer and does not believe in just selling an investment product. “We always think about what will work for a particular individual,” he remarks.

For UHNIs, Ionic Wealth provides future investment opportunities such as early calls on investing beyond India or diversifying into gold and silver. These insights were driven largely by the research team along with help from technology. And for HNIs, who invest in the range of Rs 1-25 crore, it offers an omnichannel approach, combining digital tools with human relationship.

Aiming bigger

Since starting operations in March 2024, Ionic Wealth has scaled quickly. The firm reported assets under management of Rs 50.7 billion at the end of first quarter of FY26 recording a quarter-on-quarter growth of 33.6%. It has over 1,000 clients across 9 cities in India.

Subramanian believes there are other elements which are aiding the expansion of the wealth management industry in India. The forward-looking policies of the regulators in terms of providing more flexible investment options, and the growing importance of technology and better domain knowledge.

As part of its future plans, Ionic Wealth plans to roll out new investment products that cater to diverse requirements. Besides, it also aims to go deeper into both the UHNIs and HNI segments.

“Money is a responsible business and we are here for the long run,” says Subramanian.