Wealth First Portfolio Managers

What Wealth First Portfolio Managers does

Wealth First Portfolio Managers Limited is an Indian wealth management and financial services firm incorporated in Gujarat in 2002 and listed on the BSE (544536) and NSE (WEALTH). The company operates from its Ahmedabad headquarters with branch offices in Surat and Pune, and after acquiring Wealth First Advisors Pvt. Ltd. (WFAPL) in 2026, has added a Mumbai presence. Its core services span broking (NSE Membership No. 13463, BSE Membership No. 6253), depository participant services, Portfolio Management Services (PMS), investment advisory, family office services, NRI investment services, retirement planning, and estate planning. The primary customer base consists of HNI and Ultra HNI individuals, family offices, NRIs, corporate accounts, and retirement-planning clients, with 1,250+ served clients cited on the company website.

The firm's product stack combines a relationship-driven advisory layer with digital self-service channels, including the WF Portfolio mutual fund app, Wave First trading app, WF Backoffice operations app, and a Money Maker Solo professional trading terminal. A browser-based Financial Calculators Suite (SIP, STP, SWP, FD, XIRR, CAGR, NPS, retirement, and goal planning calculators) runs entirely client-side with no server-side data transmission. Revenue is generated through transaction-based brokerage and depository fees, recurring PMS fees on managed portfolios (discretionary and non-discretionary), and professional services fees for personalized advisory and financial planning. Notably, the company does not impose a minimum investment threshold, positioning it to serve clients across portfolio sizes.

In 2026, Wealth First executed two transformational strategic moves: the March 2026 launch of Lakshya Asset Management Company (India's first Ahmedabad-based AMC, focused on passive ETF and fund-of-funds products, staffed by Benchmark AMC founders), and the July 2026 phased acquisition of WFAPL for ₹102.15 crore, bringing combined AUM to nearly ₹9,000 crore with a five-year target of ₹20,000 crore. The acquisition combines internal accruals and share-swap financing, with the remaining 49% stake to be acquired based on a March 31, 2029 valuation.

Name

Wealth First Portfolio Managers

Legal name

Wealth First Portfolio Managers Limited

Website

https://wealth-firstonline.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

Wealth First Portfolio Managers Limited is an Indian wealth management and financial services firm offering broking, depository, PMS, advisory, family office, and estate planning services to HNI, Ultra HNI, and family office clients via Ahmedabad, Surat, Pune, and now Mumbai branches.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

akta.pro secondary industries

Discretionary Portfolio Management (Retail) (FSAAAAAH), Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)

Keywords

• Portfolio management services
• Wealth management advisory
• Broking and depository
• Investment advisory services
• Asset allocation strategies

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage and Trading Services: Revenue generated from brokerage fees on equity trading, derivatives, and other securities transactions executed through the company's trading platforms
2. Depository Services: Fees from providing depository participant services for holding and managing securities in dematerialized form
3. Portfolio Management Services: Fees from managing discretionary and non-discretionary portfolios for HNI and corporate clients
4. Investment Advisory: Fees from providing personalized investment advice and financial planning services

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Wealth First Portfolio Managers is a SEBI-registered financial services firm offering comprehensive wealth management through broking and depository services, discretionary and non-discretionary portfolio management services (PMS), investment advisory, family office services, and retirement/estate planning. The firm also provides digital trading platforms (Wave First Trading App, WF Portfolio App, Money Maker Solo terminal) and is expanding into mutual fund operations via its subsidiary Lakshya Asset Management Company, focused on passive ETF and fund-of-fund products.

Differentiator

Problem solved

Functional benefit

Brands

• Lakshya Asset Management: Mutual fund subsidiary focused on passive investment products including ETFs and fund-of-funds.

Products and services

• Broking and Depository Services Comprehensive broking services for trading in stocks, securities, and financial instruments, plus depository participant (DP) services for holding and managing securities in dematerialized form. Serves retail investors, HNI clients, and corporate accounts across NSE and BSE.
• Portfolio Management Services (PMS)

Quantifiable outcome

• 1,250+ satisfied clients served
• +1 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Wealth First Advisors Pvt. Ltd. (WFAPL)coreStrategic or Co-development PartnerWealth First Portfolio Managers acquired a controlling stake in Mumbai-based Wealth First Advisors Pvt. Ltd. for ₹102.15 crore in a staged transaction. Initial 51% stake acquired via internal accruals and share swap, with remaining 49% to be acquired based on March 31, 2029 valuation. The acquisition combines both entities' AUM to nearly ₹9,000 crore.
• Lakshya Asset Management CompanycoreStrategic or Co-development PartnerWealth First's subsidiary Lakshya Asset Management received SEBI approval to launch mutual fund operations. This is India's first AMC headquartered in Ahmedabad. Key founding members from Benchmark AMC (Sanjiv Shah, Rajan Mehta, Sanjay Gaitonde) - recognized as pioneers of ETFs in India - were hired to lead the new AMC.
• Benchmark Asset Management Alumni (Sanjiv Shah, Rajan Mehta, Sanjay Gaitonde)coreOthersKey founding members from Benchmark AMC hired to lead Lakshya AMC. These individuals are recognized as pioneers of Exchange Traded Funds in India and bring extensive experience in passive investment products.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• HDFC Securities: Broking and depository services arm of HDFC Group. Direct overlap in trading, broking, and depository products that Wealth First offers, with significantly larger scale and branch network.
• ICICI Securities Wealth Management: Wealth management arm of ICICI Securities, itself part of the ICICI Group. Competes for HNI clients in PMS and advisory but enjoys unmatched parent-bank distribution and brand recall.
• Kotak Mahindra Wealth Management: Wealth management arm of Kotak Mahindra Group, a major Indian bank. Competes in HNI advisory and PMS but operates as part of a much larger banking ecosystem with deeper capital and product breadth.

Direct peers

• 360 ONE Wealth (formerly IIFL Wealth): India's largest listed pure-play wealth and asset management firm, offering PMS, AIF, and family office services to UHNI/HNI clients. Directly comparable in business model, customer segment, and listed-equity structure, though materially larger in AUM.
• Nuvama Wealth Management: Listed Indian wealth management firm offering PMS, distribution, and asset management to HNI clients. Highly comparable business mix and target customer segment, with broader product breadth and stronger institutional backing.
• Motilal Oswal Wealth Management: Diversified Indian financial services group with a dedicated wealth management practice serving HNI clients. Comparable in PMS/advisory offerings though embedded in a larger broking-led parent.
• Anand Rathi Wealth Management: Listed Indian wealth manager focused on HNI financial planning, distribution, and private wealth. Comparable in customer segment and listed-equity status, with a stronger distribution-led model.
• NJ Wealth (Nirmal Bang): Indian wealth management and distribution franchise with a strong HNIs and retail-wealth franchise. Comparable in adviser-led PMS and mutual fund distribution, with a wider sub-broker network.
• Trust Securities Services: Smaller Indian broking and wealth advisory firm offering PMS, bonds distribution, and trading services. Comparable in size and product focus to Wealth First, with a regional presence.

Regional players

• Geojit Financial Services: Kerala-headquartered Indian financial services firm offering broking, PMS, and depository services. Comparable in product mix but emphasizes South Indian markets rather than Wealth First's Western India footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/WealthFirstpml
• YouTubeyoutube.com/@wealthfirstportfoliomanagers
• Facebookfacebook.com/Wealth-First-103240475140083
• LinkedInlinkedin.com/company/wealthfirstpml
• Instagraminstagram.com/wealthfirstpml

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wealth First Portfolio Managers