Fisdom Launches Stock Exchange Services, Pushes Subscription Model


NEW DELHI : Fisdom, a wealth technology company, has announced the launch of securities brokerage services to its clients. The new company will offer a full range of products to clients, including stocks, derivatives, IPOs, FPOs, buyouts, gold sovereign bonds, CRS, currencies and ETFs.

Clients will be able to use Fisdom’s digital platform (mobile, web and terminal apps) to access the suite of securities brokerage products. It will also offer a call facility and dedicated trading desks to its private clients. Users will have access to robust research coverage on more than 3,500 individual scripts as well as exclusive filters and tools, which will allow users to make informed investment decisions, according to a statement released by the company.

Fisdom’s equity investment product will include several features such as Watchlist with Stock List (“must-see” alerts), Instant Order Margin Calculator, Option Chain View, voice search, watchlist and portfolio interface for real-time tracking and advanced graphical tools.

Fisdom offers a competitive flat rate per trade structure for investors and an affordable subscription plan for traders for unlimited trading. According to Subramanya SV, co-founder and CEO of Fisdom, the subscription panel will generally charge ??1000 to ??2,000 per month for an unlimited number of exchanges, with several variations available depending on the length of the subscription. While similar prices are offered to some extent by full-service brokers, the subscription model is not heavily promoted by discount brokers, he added.

To lead the securities brokerage business, the company elevated Rakesh Singh to CEO of the brokerage business. Rakesh joined Fisdom in 2018 and led sales and distribution. Rakesh has a successful track record of launching and growing brokerage businesses across multiple entities such as HDFC Securities, UTI Securities and Standard Chartered Bank. Fisdom has pioneered a unique banking partnership-based wealth management model that provides access to high-quality services to clients in Level II and Level III locations. In the near future, Fisdom will also expand brokerage services to clients of Fisdom’s partner banks.

Subramanya said, “We are delighted to launch securities brokerage services to our clients, which is one of Fisdom’s strategic initiatives. We have assembled a highly accomplished team of industry experts led by Rakesh Singh who have spent the last few months developing the platform we unveiled today. With this new service, we aim to provide the best investment experience for all of our clients through a comprehensive and personalized product stack. “

Singh said, “I am delighted to be leading this new business at Fisdom. The market for direct equity investments is growing rapidly in India. I am confident that our comprehensive product line, competitive pricing, and extensive research will help Fisdom establish itself as a preferred platform for investors as well as powerful traders. “

Fisdom is a digital wealth management platform offering investment, savings and protection solutions. Several banks and financial institutions have partnered with Fisdom to provide access to financial products to their customers. Fisdom partners include Oriental Bank of Commerce, Bank of Baroda, Indian Bank, UCO Bank, Karnataka Bank, City Union Bank, Bajaj Finserv and several others.

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