IIFL Wealth Management Limited (IIFL WM), one of the India's fastest growing wealth management firms, has partnered with American Express, the world's largest card issuer by purchase volume, to distribute American Express Platinum Cards to meet the needs of its high-value clients. The newly released metal charge card will be offered on 'invite-only' basis by IIFL WM to its client-base.
Clients of IIFL-One will receive the American Express Platinum Card, which offers the powerful backing of American Express through its Membership Rewards program, superior customer experience and access to a worldwide network of millions of merchants spread across 200 countries. IIFL WM will promote the premium offering that features both IIFL WM and American Express logos, to clients in Mumbai and Delhi.
The American Express Platinum Card offers unique benefits that enable a premium lifestyle, such as:
• No pre-set spending limit on the Card, which opens up a range of choices for members
• 3X Membership Rewards on all overseas spends on the Card
• Exclusive wellness offers curated by American Express
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• Card members are enrolled into elite hotel programmes and have access to travel and lifestyle experts as well as concierge services
• Members have exclusive access to world-class events, including concerts and fine dining events, rewarding them at every stage
The Card is bundled into offering under IIFL-One, a recently-launched platform that institutionalises a range of investment and service options for clients under a transparent 'all-in fee'* structure. IIFL-One was launched so that high net worth (HNI) and ultra HNI clients could decipher the net of fees alpha/value-add and go past the opacity of the total expense ratio, which makes it a game-changer.
Through IIFL-One, clients not only get institutional grade portfolio management processes and portfolio discipline at competitive and transparent all-in fees, they also get a host of privileges such as preferred lending terms, wealth structuring and other services such as the charge card. This 'Netflixification' - enabling the switch from product to subscription - also eliminates the conflict of interest that is so common in the industry.
Yatin Shah, Executive Director of IIFL Wealth Management, said: "This exclusive card fits perfectly into our bouquet of services and IIFL-One. We serve the specialised and sophisticated needs of HNIs, ultra HNIs, affluent families, family offices and institutional clients through a comprehensive range of tailored solutions. American Express is the perfect partner because, like us, it believes in long-term relationships built on trust, transparency and thought leadership. The card is among the many innovative enhancements we regularly introduce to our offering."
Manoj Adlakha, CEO - American Express Banking Corp., India, said: "We are delighted to partner with IIFL Wealth Management Limited, to help strengthen the suite of offerings to their high net worth customers while allowing us to expand our customer base. This partnership marks a significant step towards enhancing our reach in the premium segment as we widen our base across the country. We are confident that the American Express Platinum Card will be well received by IIFL Wealth Management Limited's HNI clients and we welcome them into the American Express family.
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