New Delhi: digital payment and financial firms Paytm announced on Thursday that its wholly owned subsidiary, Paytm Money, is launching a wealth and investment advisory marketplace on its platform to offer curated advisory services and products to retail investors. paytm money located in Mumbai. has partnered with wealthdesk To offer an investment portfolio called ‘WealthBasket’ as a first step towards building an advisory ecosystem.

a ‘money basket‘ is a custom portfolio of stocks and exchange-traded funds maintained by Securities and Exchange Board of India (SEBI) registered investment professionals and users will be able to invest in multiple wealthbaskets through the free starter pack or by subscribing to the premium monthly pack . available, the statement said.

“We have seen an increase in investment activity by Gen-Z and Millennial investors on our platform over the past 2 years. Paytm Money is building an advisory marketplace that will be a one-stop-shop to meet the unique needs of its audience. Wealthdesk is our first major partner in this journey,” Varun Sridhar, CEO, Paytm Money, said in a statement.

Founder and CEO of Wealthdesk Ujjwal Jain The partnership with Paytm Money removes the friction of percentage-based investment products and opens up wealth creation opportunities for every Indian.

Jain said, “Wealth Baskets are back-tested for their performance for 20 years. Analysts manufacture these baskets after extensive research of the company’s fundamentals and market conditions. We make these baskets easy for millions of Indians. and are confident about creating affordable property creation opportunities.”