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Karvy Private Wealth Acquires Startup Financial Firm
India-based Karvy Group's wealth management arm,
Karvy Private Wealth, has announced the acquisition of the
wealth management business of
iTrust Financial Advisors for an undisclosed amount.
"With the income of Indian families rising at a fast pace, there
is a great need for financial planning and management of one's
financial affairs. ITrust's clients will now benefit from Karvy's
suite of products and stock broking platforms,"
Dhruv Agarwala, co-founder of iTrust, said in a
statement.
The takevoer is expected to turn Karvy into one of the largest
non-banking wealth management companies in India. ITrust, which
is based in Gurgaon, presently has around 160 employees and is
one of the biggest branded tax preparation and filing operations
for salaried individuals in the country. It has operations in
Delhi/NCR, Bangalore, and Hyderabad.