Ionic Wealth Targets Tier 2 and 3 Cities Amid Growing Demand from Emerging HNIs
New Delhi, May 11 — Ionic Wealth, a rapidly growing wealth management firm, is setting its sights on India’s tier-two and tier-three cities, aiming to cater to a rising wave of high-net-worth individuals (HNIs) transitioning from traditional savings to modern financial instruments.Rising Demand from Emerging Regions
"There's immense potential in Tier 2 and 3 cities," said Srikanth Subramanian, Co-founder and CEO of Ionic Wealth. "HNI investors in these regions are increasingly shifting from conventional savings tools to a wide array of financial assets, driven by the market’s strong performance during and after the pandemic."These investors are expanding their portfolios beyond basic options like stocks and mutual funds to more complex offerings, including Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs), he explained.
Hybrid Strategy for Deeper Market Penetration
Subramanian emphasized that Ionic Wealth is addressing the current gap in these underserved markets through a hybrid advisory model that combines advanced technology with human expertise."As a wealth-tech firm, we’re building strong tech capabilities to make investment solutions more accessible beyond metro cities. Yet, we also understand the value of personal advice when managing high-value relationships," he noted.
The firm currently operates in nine major cities—Mumbai, Delhi, Gurugram, Chennai, Bengaluru, Ahmedabad, Baroda, Kolkata, and Pune—but is actively working to expand its footprint to smaller cities.
Balancing Tech and Touch
"We are somewhere in the middle of tech and non-tech, which gives clients the flexibility to choose between using a platform or interacting with a human advisor," said Subramanian. He believes this balanced approach will allow Ionic Wealth to scale efficiently while maintaining personalized service.As digital platforms continue to evolve, transactional functions are expected to shift increasingly towards automation. "This will free up human advisors to focus on strategic, high-value conversations with clients," he added.
Rebranding and Capital Growth
Formerly known as Angel One Wealth, the company rebranded to Ionic Wealth in March 2024. It subsequently raised Rs 290 crore, including Rs 250 crore from Angel One and Rs 40 crore from 10 Indian families, signaling strong investor confidence in its new direction.Currently, Ionic Wealth manages Rs 3,800 crore in assets, 75% of which are recurring. It employs around 165–170 professionals and serves a diverse client base, ranging from ultra-HNIs with over Rs 25 crore in investable assets to clients in the Rs 1–25 crore bracket through its tech-driven platform.