Latest News | Choice Broking Acquires Arete Capital Services, Expands AUM to over Rs 6K Cr

New Delhi, Feb 17 (PTI) Choice International's broking arm on Monday said it has acquired wealth management firm Arete Capital Services for an undisclosed sum.

With this acquisition, the brokerage firm's total wealth management assets under management (AUM) will grow to Rs 6,241 crore from Rs 1,090 crore, representing nearly a six-fold expansion in its total AUM base, the company said in a statement.

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Arete Capital Services had an AUM of Rs 5,151 crore.

Further, it will strengthen Choice Broking's position in the wealth management and investment advisory space, it added.

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"With Arete's strong reputation and expertise, we are confident in our ability to deliver superior investment solutions and personalised financial planning for HNIs and institutional clients," Arun Poddar, CEO & Executive Director at Choice International, said.

The move emphasises our vision of offering technology-driven, research-backed financial solutions that empower investors to achieve long-term wealth creation, Poddar added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)