New Delhi, April 26, 2023: Centricity Wealth India’s first full-stack digital wealth management platform for investment professionals (MFDs/RIAs/ Private wealth professionals who wish to become wealth solopreneurs), single family offices and corporate treasuries have recently announced senior management appointments of Faraz Mahmood and Anirudh Mahanot as Business Heads for North and South India respectively. Both Faraz and Anirudh will work closely with the co-founders to focus on growth in key focus markets.
While Faraz has previously held senior management positions in asset management companies such as ICICI Prudential, Fidelity, IDFC, and Sundaram across institutional and channel businesses, Anirudh has been a career private banker and wealth specialist with some of the largest wealth management franchises such as Citibank, IIFL WAM and most recently as a director, investment advisory at Julius Baer”.
Commenting on these appointments, CEO & Founder Centricity, Manu Awasthy said “There are many platforms working on digital access to specific investment products for MFDs. Centricity is positioned as a one-stop aggregated solution, offering not only products and digital transactions but also multi-asset reporting and analytics. We are thrilled to have Faraz and Anirudh onboard as we commence our next growth phase. Both Anirudh and Faraz are seasoned wealth management professionals with a strong belief in the positive tectonic shifts this industry is experiencing in India. We welcome both on this exciting journey.”
Centricity is hiring across different verticals and functions and continues to scale rapidly through an operationally light business model. The startup is headquartered in Gurugram, Haryana, and has offices in Maharashtra, Karnataka, Delhi, Tamil Nadu, and Uttar Pradesh. In the next 6 months, we will be operational in Rajasthan, Punjab, Himachal Pradesh, J&K, Andhra Pradesh/Telangana, Gujrat, Jharkhand & Bihar.
Commenting on his joining Centricity, Faraz Mahmood said, “Independent financial advisors (IFAs) find it very tough to scale their practices, increase AUMs and improve their earnings. The absence of an open-source financial services platform that offers multi-asset reporting, analytics, and transactional capabilities, lack of access to a well-rounded investment product suite/value-added services, relevant know-how, and training to pitch newer products are all factors that limit the growth potential of an independent distributor. In addition to addressing these gaps, Centricity acts as an anchor to IFAs enabling them to compete with large players in this business.”
“Centricity’s unique proposition is a comprehensive integrated platform for risk assessment, investor data aggregation, real-time analytics, and portfolio reporting, a comprehensive investment product listing, digital transaction execution of investment products, portfolio review, and call to action. Having known the founding team for a long time, I know there couldn’t have been a better team to build this solution and I am excited to be a part of this journey” added Anirudh Mahanot.