At the Connecting Ideas With Money on the 29th of October, 2021 founder Kislay Upadhyay pitched InvestWise AI – a SEBI registered Investment Advisory that uses machine learning to provide customized wealth advisory to the large and growing underserved retail segment.
The startup provides a machine learning-based system that provides asset management and customized wealth advisory.
Kislay says, “Personalized Wealth Advisory is currently not available to retail clients (AUM < ₹50Lakh) due to the following reasons:
1. Limited Digital Offering – Wealth management product for retails investors, mass affluent and accredited investors with digital transparent offering is in the
nascent stage in our country
2. Black box Algorithm – Existing digital wealth advisors & Robo advisors rely on black box algorithm for making investments, which raises the critical problems of
transparency, understanding the drivers of recommendations and thus the limitations
3. Not 100% personalized yet – Customization of solutions to wealth needs of each individual is in its very early stage
4. Uneconomical in traditional format – Low fee due to the low ticket size for retail segment makes it uneconomical to provide advisory service in traditional
format.”
“Our system that generates 1mn strategies, each suitable for a certain investment need, has been trained with 30+ years of financial data with over 10cr data points. We provide the right asset allocation and equity plan based on the risk profile of clients.”
Team:
Kislay Upadhyay (Co-founder, CIO)
Investment Analyst at Abakkus, Ambit | Index creation at NSE Indices | PGDM, IIM Lucknow (Finance), CFA Level 3 Candidate
Gaurav Prakash (Co-founder, CTO / COO)
Senior Product Manager, Microsoft (Cloud + AI) | PGDM, IIM Lucknow
Vasant Lohiya (Co-founder, Investment Head)
Investment Analyst (AVP), JM Financial | CA
The teams sees themselves as pioneers in rule-based investment (not trading) in India. Their rule-based investing theme reflects in the ‘Coffee Can Investing’ book. They use proven algorithm-based investment with robust frameworks (in Ambit Capital). They consider themselves experts in devising algorithms to deliver consistent
and robust returns over the long and medium term. They have been conducting live testing of the framework in the market since 2019, building a close clientele of 15. The team brings a strong technical background in building products and have in past spearheaded multiple products in Microsoft (Cloud and AI). They bring a cumulative
20+ experience in equity investing for institutional and retail customers.
The startup is seeking to raise investment.
