Private Wealth Management India

Till recently, companies were targeting the high net worth individuals (those who have invest able assets more than rupees five crore or $1 million); but the focus is now shifting towards Ultra high net worth individuals or families (those who have invest able assets more than rupees 45 crore or $10 million)

Indian Ultra-HNWIs have unique demands in terms of products and services. Ultra-HNWIs have high risk taking abilities as compared to HNWIs. Thus, the products offered to them are more sophisticated and risky. Due to high invest able base and diversified needs, they also require more customized and tailor-made services to manage their family needs as well as grow their wealth.

The market provides huge opportunity in terms of low penetration (20%) of Ultra high net worth individual and also the huge amount of intergenerational transfers is going to change hands in the coming decade. The amount is estimated to be around 5.78 lakh crore ($128 billion)

Many established firms which are already into this segment are Kotak bank, DSP Merrill lynch, BNP Paribas but it has also given rise to boutique firms which have a market share of around 47% in the family office space. It includes firms such as Altamount capital, client associates.

Market overview

This chapter talks about Ultra- HNWIs and families in India. It also talks about the emergence of family offices in India. It deeply analyzes the segregation advisory services on the basis of wealth in India.

Market dynamics

This section analyzes the various products and services offered to Ultra HNWIs and families in India. It talks about the opportunities the Ultra-HNWIs present to the industry players. Various drivers that are affecting the family offices in India and the forecast of family offices on the basis of various factors are also explained.

Intergenerational transfers

This section discusses in detail the process of intergenerational transfer taking place in the coming decade.

Needs and behavior analysis of Ultra-HNWIs

This chapter provides in-depth analysis on various needs and behavior of Ultra-HNWIs in India. Behavior analysis is done on various parameters such as risk appetite, decision making power, knowledge of financial products.

Competitive landscape

This section discusses the various players in the wealth management industry and their market share. It also talks about various trends in the family offices, players involved, and the qualifying amount for availing the family office services in India.

Company profiles

This section describes companies offering wealth management and family offices services in India, and includes an overview, primary business, wealth management operations in India, strategies followed by them and recent developments related to wealth management operations in India.

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Key questions answered

• How does Indian Ultra HNWI offer opportunity to the wealth management firms?
• Needs, demands and behavior of HNWI in India
• Trends of Ultra HNWI in India
• How can you position yourself in the family office space?
• What are the major drivers and opportunities in the market?
• What is the competitive outlook? Who are the major players in the market segments? 

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The analysts working with MarketsandMarkets come from renowned publishers and market research firms globally, adding their expertise and domain understanding. We get the facts from over 22,000 news and information sources, a huge database of key industry participants, and draw on our relationships with more than 900 market research companies.

With the economy back on rising trend, growth of new segment of wealthy individual known as Ultra-HNWI (High net worth individuals) which are also considered as Nouveau rich is prominent. The need for managing family issues through a professional organization like family office is rapidly growing in India with various players such as banks, brokerage firms, asset management firms gaining a foothold in the Indian family office space.

Ultra HNWIs or families have some unique needs apart from investment and wealth maximization needs. They have started thinking about business continuity, succession planning, and corporate governance, handling sibling rivalry, drafting a trust, philanthropy and legacy planning and for this, they are now seeking advice from experts or dedicated family offices.

As they have higher risk appetite, equities and real estate products are most favored destination for their investment. Financial and tax planning is the important need for setting up family office by Ultra high individual and philanthropy is the next important services that is demanded by Ultra-high families.

Globally, the minimum qualifying amount of invest able assets is around $50 million to $100 billion but it varies from country to country and company to company. In India, various companies have their own qualifying amount for providing service. Client associates have set it to minimum of Rs. 10 crore for the service while Kotak with international firms DSP Merrill lynch and Barclays have a minimum amount of Rs. 100 crore.

Many established firms which are already into this segment are Kotak bank, DSP Merrill lynch, BNP Paribas but market upswing has also given rise to boutique firms which have a market share of around 47% in the family office space. It includes firms such as Altamount capital, client associates.