Naspers-backed online wealth manager Fisdom is getting into stock brokerage


Online wealth management company Fisdom, which is backed by venture capital firm Naspers, has moved into stock brokerage.

β€œThe new business will offer a full suite of products to clients, including equities, derivatives, IPOs, gold sovereign bonds, currencies and ETFs,” the company said in a statement. Currently, Fisdom operates a successful mutual fund distribution platform.

The brokerage foray comes amid a frenzy of new account openings backed by market momentum. The number of demat accounts in the country has more than doubled to 70 million so far this year. Fisdom said it will offer a low-cost structure with premium offerings such as search coverage across 3,500 individual scripts, filters and proprietary tools.

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor


About Author

Comments are closed.