New Delhi:Jio BlackRock Broking Pvt Ltd, a wholly owned subsidiary of Jio BlackRock Investment Advisers Pvt Ltd, has received regulatory approval from the Securities and Exchange Board of India (Sebi) to commence operations as a brokerage firm.
JioBlackRock Broking aims to bring affordable, transparent, and technology-driven execution capabilities for investors, the company said in a statement.
The broking entity's parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Ltd (JFSL) and BlackRock Inc of the US.Along with the recent regulatory approvals received by Jio BlackRock Asset Management Pvt Ltd and Jio BlackRock Investment Advisers to commence operations, the receipt of the broking license enables the Jio BlackRock joint venture to offer holistic investment solutions.
"With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for self-directed investors," Marc Pilgrem, MD and CEO of Jio BlackRock Investment Advisers Pvt Ltd, said.
Even as JioBlackRock's Asset Management arm introduces innovative mutual funds to the market, and JioBlackRock Investment Advisers prepares to launch operations, the approval for the broking entity adds another dimension to the strategy of democratising investments in India, through easily accessible and digital-first solutions, JFSL MD and CEO Hitesh Sethia said.
Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.
