Indian wealth and alternates-focused asset management firm 360 ONE WAM has entered into an agreement to acquire ET Money, one of India’s biggest investment advisers registered by the nation’s Securities and Exchange Board by number of clients and among the largest non-brokerage digital platforms for wealth management.

The acquisition, the asset manager says, will aid in completing its flywheel across client segments. 360 ONE has recently launched its high-net-worth-individual (HNWI) and global offerings, which add to its existing core ultra-HNWI wealth business.

Subject to regulatory approvals, the asset manager will acquire 100% of ET Money largely via a stock swap deal and part cash.

As a result of the acquisition, Karan Bhagat, 360 ONE’s founder and CEO, says: “[We] will now be able to leverage the product suite, domain understanding of the business, portfolio advisory solutions, brokerage services and credit solutions to a large user base. The acquisition is expected to result in a strong and faster path of monetization for ET Money across both users as well as product offerings.”