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JM Financial Services Limited (JMFSL) is a wholly owned subsidiary of JM Financial Limited and is engaged in the Wealth and Securities business. It offers a comprehensive suite of services to retail, HNI, and institutional clients including equity broking, derivative broking, PMS (Portfolio Management Services), distribution of financial products, and online investing via the BlinkX digital platform. The company operates through a widespread network of branches, business affiliates, and franchisees across India. In 2024–25, the Private Wealth management business was transferred from JMFSL to the parent entity JM Financial Limited, while the Group's private wealth business was subsequently re-transferred back to JMFSL to consolidate the full wealth and broking franchise under one roof.
JM Financial Services is guided by a philosophy of delivering accessible, technology-enabled, and research-backed financial solutions to every category of investor — from first-time retail investors to ultra-HNI clients. The company's vision is to be a trusted financial partner, with client-centric values and an identity rooted in growth.
Ashish Chaturmohta
FMManaging Director & Fund Manager – Apex PMS
Ashish Chaturmohta is a Managing Director and Fund Manager for the Apex PMS (Portfolio Management Services) product within JM Financial Services.
Chirag Negandhi
Managing Director – JM Financial Services Limited & JM Financial Limited
Chirag Negandhi oversees Institutional Equities, Equity Capital Markets, Private Wealth, Alternative Investments, Portfolio Management Services, and Real Estate Advisory for the Group. He brings over two decades of leadership experience in capital markets and has successfully led some of India's largest equity raises while working closely with leading corporates. He has been consistently profiled as one of the foremost Real Estate and Media analysts by leading financial journals. A management graduate from Purdue University, Indiana (top percentile of his class), he was conferred the '40 under 40' Award by the Economic Times. Prior to JM Financial, he was Joint Managing Director at Axis Capital.
Dimplekumar Shah
Managing Director & CEO – Equity Broking, Business Affiliates & Retail Wealth
Dimplekumar Shah spearheads the offline and online broking business at JM Financial Services Ltd. through its different verticals and product baskets. With over 23 years of rich experience in the financial industry, in his previous role he was a Whole-Time Director of Anagram Stockbroking Ltd., where he was instrumental in overall business development and branch expansion. He is a Chartered Accountant and also holds a degree from the Institute of Cost and Works Accountants (ICWA).
Nirav Gandhi
Managing Director & COO – Wealth Management
Nirav Gandhi is the Managing Director & COO of Wealth Management at JM Financial, with approximately 34 years of experience in financial markets. He has been instrumental in building and scaling the Group's wealth management franchise and currently oversees wealth management operations within JM Financial Services.
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Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.
Krishna Rao
Managing Director & Co-Head – Equity Broking
Krishna Rao is a Managing Director and Co-Head of the Equity Broking business at JM Financial Services Limited, responsible for co-leading the offline and online equities trading and broking platform.
Ashu Madan
Managing Director & Co-Head – Business Affiliates
Ashu Madan has over 32 years of experience in financial services, specialising in retail expansion and the set-up of franchisee businesses across India. At JM Financial Services, he leads nationwide expansion through the Business Affiliates Group. Prior to joining JM Financial, he was associated with Religare Securities for over 18 years, where he led the equity broking business and developed new products and strategies. He has also worked with Gadgil Western Group in Retail Distribution & Sales.
Sanjay Bhatia
Managing Director & Co-Head – Business Affiliates
Sanjay Bhatia is a Managing Director and Co-Head of the Business Affiliates Group at JM Financial Services, co-responsible for managing and growing the firm's distribution partner and franchisee network across India.
Kalyanaraman R
Managing Director & Head – BlinkX (Digital Business Group)
Kalyanaraman R is the Managing Director & Head of BlinkX, JM Financial's digital investing and broking platform, leading the Digital Business Group within JM Financial Services. BlinkX is powered by JM Financial's market expertise and serves retail and emerging investors across all financial products.
Anshuman Das
Managing Director & CTO – Wealth Management
Anshuman Das is the Managing Director & Chief Technology Officer for Wealth Management at JM Financial Services, responsible for leading technology efforts including BlinkX. He has two decades of experience in financial services technology. He holds B.Tech and M.Tech degrees from IIT Delhi and a Post-Graduation in Management from ISB Hyderabad. Prior to JM Financial, he was Group CIO and CTO at Sharekhan by BNP Paribas, contributing significantly to their digital transformation. He has also worked with Edelweiss Global Markets, Citigroup, and Adobe.
Rakesh Parekh
Managing Director – PMS
Rakesh Parekh heads Portfolio Management Services (PMS) at JM Financial Services with over 30 years of experience in equities and portfolio management. He is a qualified Associate of the Chartered Insurance Institute (ACII), UK, holds an MBA in Finance from the University of Stirling, UK, and a B.Admin (Hons) from the University of Dundee, UK. Prior to joining JM Financial in 2004, he was with the Templeton Emerging Markets Group under Dr. J. Mark Mobius, co-managing the Templeton India Growth Fund (TIGF) and OMERS, a Canadian pension fund.
Amit Dharod
Managing Director and Head of Business Development & Strategy
Amit Dharod is the Managing Director and Head of Business Development & Strategy at JM Financial Services, responsible for driving business growth initiatives, new client acquisition strategy, and overall commercial development of the wealth and broking franchise.