The wealth management market, an integral part of the financial services sector in India, was valued at INR 113.32 Tn in 2018 and is expected to reach INR 338.67 Tn by 2024, expanding at a compound annual growth rate (CAGR) of ~20.02% during the 2019-2024 period. For the past few years, India has been witnessing the emergence of family office offerings, along with estate planning services. Indians have gradually become tolerant of capital market investment instruments than traditional investment instrument of gold and real estate. The Indian millionaire club incorporated 7,300 people in mid-2018, driving up the total number of millionaires to 3,43,000 in 2018. Major players, who are currently operating in the Indian wealth management market include Alpha Capital, Bajaj Capital Limited, Edelweiss Asset Management Limited, Karvy Private Wealth and Sanctum Wealth Management Limited.
Key growth drivers of the market
• India is expected to be one of the powerful economies of the world in the next 10-15 years, owing to its strong bilateral ties. With the growth of the economy, income opportunities have increased, thereby giving rise to people’s disposable income. As a result, an attractive business environment has developed for wealth management firms.
• With robust technological advancements in the field of financial services in the form of robo-advisors, artificial intelligence and the like, wealth management companies are now capable of providing highly personalized services that can fulfil the individual needs of investors. This in turn is giving rise to customer satisfaction and high investments in the field of financial services in India.
Key deterrents to the growth of the market
With increased usage of technology, risk of data breach and cyber fraud has increased. Between July 2018 and April 2019, data breaches cost Indian organizations INR 128 Mn. Such cases of high-profile financial scams, unethical practices by advisors with short-term objectives, and lack of effective investor protection regulations have contributed to insecurities among investors. This, in turn, is impeding the growth of wealth management companies across India.
Companies covered
• Alpha Capital
• Anand Rathi Wealth Services Limited
• Bajaj Capital Limited
• Centrum Wealth Management Limited
• Edelweiss Asset Management Limited
• IIFL Wealth Management Limited
• Karvy Private Wealth
• Motilal Oswal Wealth Management Limited
• Sanctum Wealth Management Limited
• Waterfield Advisors Private Limited
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure – financial services
3.2. Market definition and structure – wealth management
Chapter 4: Market overview
4.1. Indian financial services sector overview
4.2. Regulatory bodies in the Indian financial sector
4.3. Wealth management market in India – overview
4.3.1. Historical market size (2017 and 2018)
4.3.2. Forecast market size and growth (2019e-2024e)
4.4. Private banking sector and wealth management
4.4.1. Overview
4.4.2. Asset under management (AUM) of the wealth management division of private banks (2015, 2016, 2017 & 2018)
Chapter 5: Market influencers
5.1. Market drivers
5.2. Market challenges
Chapter 6: Market expansion strategies
Chapter 7: Competitive landscape
7.1. Porter’s five forces analysis
7.2. IIFL Wealth Management Limited
- Company Information
- Services
- Business description
- Key people
- Asset under management (AUM)
- Financial snapshot (INR Mn)
Note: Similar information covered for other companies on best effort basis.
7.3. Centrum Wealth Management
7.4. Bajaj Capital Limited
7.6. Motilal Oswal Wealth Management Limited
7.7. Anandrathi Wealth Services Limited
7.8. Karvy Private Wealth
7.9. Sanctum Wealth Management Private Limited
7.10. Waterfield Advisors Private Limited
7.11. Edelweiss Asset Management Limited
7.12. Alpha Capital
Chapter 8: Recent developments
Chapter 9: Appendix
9.1. Research methodology
9.2. About Netscribes
9.3. Disclaimer
The wealth management market, an integral part of the financial services sector in India, was valued at INR 113.32 Tn in 2018 and is expected to reach INR 338.67 Tn by 2024, expanding at a compound annual growth rate (CAGR) of ~20.02% during the 2019-2024 period. For the past few years, India has been witnessing the emergence of family office offerings, along with estate planning services. Indians have gradually become tolerant of capital market investment instruments than traditional investment instrument of gold and real estate. The Indian millionaire club incorporated 7,300 people in mid-2018, driving up the total number of millionaires to 3,43,000 in 2018. Major players, who are currently operating in the Indian wealth management market include Alpha Capital, Bajaj Capital Limited, Edelweiss Asset Management Limited, Karvy Private Wealth and Sanctum Wealth Management Limited.
Key growth drivers of the market
• India is expected to be one of the powerful economies of the world in the next 10-15 years, owing to its strong bilateral ties. With the growth of the economy, income opportunities have increased, thereby giving rise to people’s disposable income. As a result, an attractive business environment has developed for wealth management firms.
• With robust technological advancements in the field of financial services in the form of robo-advisors, artificial intelligence and the like, wealth management companies are now capable of providing highly personalized services that can fulfil the individual needs of investors. This in turn is giving rise to customer satisfaction and high investments in the field of financial services in India.
Key deterrents to the growth of the market
With increased usage of technology, risk of data breach and cyber fraud has increased. Between July 2018 and April 2019, data breaches cost Indian organizations INR 128 Mn. Such cases of high-profile financial scams, unethical practices by advisors with short-term objectives, and lack of effective investor protection regulations have contributed to insecurities among investors. This, in turn, is impeding the growth of wealth management companies across India.
Companies covered
• Alpha Capital
• Anand Rathi Wealth Services Limited
• Bajaj Capital Limited
• Centrum Wealth Management Limited
• Edelweiss Asset Management Limited
• IIFL Wealth Management Limited
• Karvy Private Wealth
• Motilal Oswal Wealth Management Limited
• Sanctum Wealth Management Limited
• Waterfield Advisors Private Limited
