BP Wealth is amongst the very few equity broking houses in the country with a complete research team with demonstrable capabilities to bring out powerful research reports. The company has branched out to verticals like advisory Portfolio management, Non-Banking Financial spectrum, Fin-Tech, etc. Yuvraj Thakker, Managing Director, BP Wealth speaks exclusively to Rajneesh De, Consulting Editor, APAC News Network about these portfolio and the business roadmap ahead.
How would you trace the genesis of BP wealth?
Indian economy has witnessed a sea change from 60’s to 80’s and BP Wealth has perceived the numerous transformations of our economy. BP Wealth was started with my grandfather Babubhai P Thakker’s vision, who stepped into the equity markets in 1961. He laid the foundation of BP Group in 1987 and the company later was incorporated in the year 1997.
Babubhai with his pioneering vision brought insightful approach towards equity trading that became the bedrock for a robust and future-oriented BP Wealth. Over the years we have demonstrated a very-high degree of relationship and out core principles have been in creating wealth with the value of associations across our client base. Holding this legacy is the prime focus, as we innovate on these inherent strengths to remain on the cutting edge of the market.
What are the solutions and services in the BP Wealth portfolio?
At BP Wealth, we offer a wide array of services to our clients. Our top solutions and services are: Equity trading; PMS services; Algo trading via our in-house Machine Learning Team; Institutional & Retail Research; and Mutual Fund Advisory.
Our clients benefit by getting personalized, quality service that is beyond comparison.
Who are your marquee customers and what are their use cases?
There is only one boss – The Customer. And our customers are the heroes of BP Wealth’s growth story. Our customers range from Institutional to HNI’s who have been loyal to us for decades. We also have a very strong sub-broker relationship and have a network of over 300+ offices across India. In line with that, our PMS services cater to more than 100+ clients have been able to generate decent returns over the last few years, and as one of the leading market players, we also provide High-Frequency Trading to a handful of customers.
What is the GTM (Go to Market) strategy that is followed by BP Wealth?
We have also focused on customer centricity, driving value for the customers, and have always been at the heart of our offerings. GTM (Go to Market) strategy is a unique action plan, that helps us specify how we will reach out to our target customers and achieve competitive advantage. The purpose of this, is to provide a blueprint for delivering a product or service to the end customer. Our GTM strategy aligns all stakeholders and establish a timeline to ensure each stakeholder meets the defined milestones and outcomes, creating an attainable path to market success.
We are also focusing on coming up with new innovative offerings by strategically integrating with industry-leading platforms.
What is the strategy behind your yet to be launched digital broking app?
Digital transformation of Indian Broking industry accelerated during Covid-19 pandemic. As the equity broking industry continues to evolve before our eyes, one of the greatest forces at work in this change is technology. Espousal technology is no longer an option but is necessary. Technological advancements have helped the equity broking houses to become more efficient, and have benefited the industry in innumerable ways. Tech led solutions is fast becoming the foundation for transformation.
The current situation has pushed many brokers to adopt technology quicker than they had planned, however we realized that as early as 2011 and have been firmly focusing on Customer Experience and product delivery—the strategy centres around an advancement in customer-centric delivery mechanisms. Put simply, how to provide the maximum value to the most investors in the most agile fashion possible. Digital transformation remains a top priority for BP Wealth, and we are devoted to creating digital solutions to cater to India’s growing demand for digital equity broking.
Keeping the trend in cognizance, we are coming up with B2C platform StoxBox, aiming to meet the expectations of the demands of the new age investors. In such competitive market, we have ensured that our upcoming digital offerings will be customer friendly, easy to use and provide TRUE value to our clients. The platform is clubbed with premium quality research and cutting-edge technology associations which will further garner a decent audience base and guide our investors to make trading more profitable.
The impact of technology on equity broking is going to continue to grow, and play a vital role in the sector’s evolution in the next decade.
How are you leveraging AI (ML) in your apps?
Technologies like Artificial intelligence (AI) in equity broking and app-based platforms are gaining huge momentum today. AI will have a predominant role to play in the way the equity broking industry is operating today.
Tech-led brokerage platforms have seen increasing interest since 2020 and hence we are aggressively focusing on tech-led and digital platforms that will help us to reach out to more millennials and GenZ. With consumers becoming more open to digital and mobile transactions, we at BP Wealth will be able to deliver superior end-customer experience through our in-house Machine Learning team.
Our Machine Learning, which is subset of AI technology is where we test our strategies before we recommend them to our clients. Our ML will be the solution for a majority of the challenges faced by investors and enable them to achieve their financial fitness. Also, our High-Frequency Trading is another feather in our cap which is primarily aimed towards UHNI clients.
What is going to be your key focus areas in the next few quarters?
The pandemic and countrywide lockdown has caused havoc to the economy and all allied sectors. However, there is much to be optimistic about, as the post-pandemic environment has introduced several new market dynamics, which present with them new prospects for us, and now we are completely focusing in expanding our business countrywide. We also aim to release our retail B2C offering, ‘Stoxbox’ for our valued clientele very soon.