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Indian WealthManagement Forum 201830 August I Mumbai I India
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Thank You to Our Sponsors
INDIAN WEALTH MANAGEMENT FORUM 2018 - POST EVENT REPORT 3
Summary
The Hubbis India Wealth Management Forum that took place in late August highlighted the dramatic pace of private wealth accumulation in the country, as the economy and the capital markets continue to power ahead.
India's wealth management industry is relatively young - emerging most prominently in the past decade - and the global private banks have been conspicuous largely by their absence, at least until recently. But the wealth sector continues to mature and expand, its growth prospects most visibly challenged not by excess competition or a lack of growth, but by the shortage of skills and relevant experience in India.
The audience heard how the top 20 wealth management firms in India are already managing an estimated USD 163 billion, and growing assets under management at a rate of over 50%, but that this is still just a drop in the ocean compared with estimated of India's private wealth of more than USD 5 trillion.
They heard how one firm alone expects to grow its managed assets more than tenfold from USD 25 billion to in excess of USD 250 billion within 10 years, this projection extrapolated from an assumption that the industry can eventually emulate the US model, where the wealth management sector handles an estimated 6.3% of the roughly USD81 trillion of private wealth.
The Forum included no less than 20 different elements, including head to head interviews, presentations, panel discussions and workshops. Topics ranged from the market fundamentals driving the industry to investment propositions and solutions, the expansion of the insurance solutions available, the evolution of the family office, as well as digital disruption and transformation.
There was a clear consensus throughout the day that the Indian economy and private wealth are set for multi-decade expansion and that the greatest challenge that lies ahead for the wealth management sector is to professionalise its offerings, to reach out to ever more of the rapidly multiplying high-net-worth individuals (HNWIs), to build people skills and professionalism and to emulate other Indian business sectors in the grasp and implementation of digital technologies.
4 INDIAN WEALTH MANAGEMENT FORUM 2018 - POST EVENT REPORT
Attendee Profile
Retail/Private Banks26%
18%
8%
14%
16%
10%
8%
NBFCs
Independent Firms
Technology
Asset management
Professional services
Other
Job role
C - Level
Product/ Investment
Business Head
Adviser/ Wealth Manager
Other
28%
24%22%
19%
7%
Sales
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
INDIAN WEALTH MANAGEMENT FORUM 2018 - POST EVENT REPORT 5
Acko General InsuranceAcorn InvestmentsAdelmo AdvisorsAdelmo AdvsiorsAditya Birla FashionAditya Birla FinanceAditya Birla Wealth ManagementAgragensAhura investmentsAnand RathiArihant Capital MarketsASK Investment ManagersAUM AdvisorsAvendus CapitalAxis BankBajaj CapitalBank Julius BaerBank of BarodaBarclaysBarclays Private BankBecca Life SciencesBellWether AdvisorsBlackRockBlue Prism CapitalBNP Paribas Securities ServicesBOBCAPSCentrum WealthCentrum Wealth ManagementCFA InstituteChetcuti Cauchi AdvocatesCredit Suisse Private BankingCredit Suisse SecuritiesCyril Amarchand MangaldasDaiwa Capital MarketsDeloitteDeutsche BankDeutsche Bank Wealth ManagementDhruv Mehta
Attendees from these firms
Edelweiss Asset ManagementEdelweiss Global Wealth ManagementEmkay Global Financial ServicesEthical InvestmentsEtica Wealth ManagementEYFamily First Capital AdvisorsFinancePeer.comFinFund Investment & ResearchFlexi CapitalFRFAFrontline SecuritiesGalaxy InvestmentsGEPL CapitalGhanshyam WealthHDFC BankHindustan PetroleumHipace WealthHiten Shah Financial AdvisorsHSBC Global Asset ManagementICICI BankICICI SecuritiesIDBIIDFC BankInvestmartIvycap VenturesJhaveri SecuritiesJM Financial ServicesJR Laddha Financial ServicesK K MehtaKarvy Private WealthKeystone InvestmentsKNP SecuritiesKotak Mahindra BankKotak Wealth ManagementL&L PartnersL&T Capital MarketsL&T Infotech
Leonteq SecuritiesLighthouse CantonMahendra Doshi & AssociatesMBS MumbaiMehta Fincon ServicesMetis Family OfficeMintWalkMody FincapMoneyFrontMoneyhive InvestmentsMoneyMonk FinancialMotilal Oswal Asset ManagementMotilal Oswal Private Wealth ManagementN. D. KapurNeel Sidhi InvestmentsNetcore SolutionsNirvesta Capital ManagementNiso InvestmentsNisus Finance ServicesNiyati InvestmentNJ FundsNJ India InvestOrowealthPrakash Industries & InvestmentsPransh InvestmentPwCQuadrant Advisory ServicesQuantech CapitalR. K. InvestmentsRadha Krishna Group of IndustriesReliance Nippon Life Asset ManagementRGB Financial ServicesSameeksha Capital PrivateSanctum Wealth ManagementSecurities and Exchange Board of IndiaSGG Group
6 INDIAN WEALTH MANAGEMENT FORUM 2018 - POST EVENT REPORT
Top Notch Financial SolutionsTouchstoneTrust Financial ServicesU ValueUBS Wealth ManagementUnicorn India VenturesUniversal TrusteesValuefyVirtus Investment AdvisorsVivek Mavani Financial ServicesVMK Money
Shree Rama InternationalSJ Investment AgenciesSmall Industries Development Bank of IndiaStallion AssetStandard Chartered BankStock HoldingSundaram Asset ManagementTata Consultancy ServicesTaurus Treasury Management ServicesTavagaThomson Reuters
Wadhawan Wealth ManagersWalton StreetWaterfield AdvisorsWealth AchieversWealth CreatorsWealth First AdvisorsWealth Technology and ServicesWealthWiseWGC WealthWoodpecker Wealth AdvisorsYogeshwari Finance
INDIAN WEALTH MANAGEMENT FORUM 2018 - POST EVENT REPORT 7
Speakers
Arpita VinayCentrum Wealth Management
Anupam GuhaICICI Securities
Feroze AzeezAnand Rathi
Satheesh KrishnamurthyAxis Bank
Bijal AjinkyaKhaitan & Co
Sandeep JethwaniIIFL Wealth and Asset Management
Himanshu BhagatIIFL Wealth and Asset Management
Deepali NaairIIFL Investment Managers
Prateek PantSanctum Wealth Management
Deepak KhuranaThomson Reuters
Rajesh KothariAlfAccurate Advisors
Philip StoryInvestors Trust
Atul SinghWGC Wealth
Abhijit BhaveKarvy Private Wealth
Sandeep LalwaniMiles Software Solutions
Amrita FarmahanAvendus Wealth Management
Gaurav AroraASK Wealth Advisors
Pranab UniyalAmbit Private Wealth
Himanshu KohliClient Associates
Abhra RoyInfosys Finacle
Irene LeeHawksford
Vinita IyerIIFL Wealth Management
Nitin SinghStandard Chartered Bank
Atinkumar SahaDeutsche Bank Wealth Management
David VarleySun Life Financial
8 INDIAN WEALTH MANAGEMENT FORUM 2018 - POST EVENT REPORT
Abhishek ChandraIIFL Wealth Management
Kunal BajajClearfunds
Aditi KothariDSP Investment Managers
Erdem OzgulNumerix
Salil ThanawalaEdelweiss Private Wealth Management
Sharad SinghValuefy
Richard NunnJersey Finance
Aniruddha ChatterjeeThomson Reuters
INDIAN WEALTH MANAGEMENT FORUM 2018 - POST EVENT REPORT 9
Key voting poll results The Hubbis Investment Solutions Forum 2018 event in Mumbai on August 30th provided fascinating and thought-provoking discussions and talks for the assembled delegates. As usual we also polled the attendees and mined out the following nuggets.
90% of attendees believe that the Euphoria in the wealth management business justified in India
The majority of our audience believe that private bankers in India get paid too much
All attendees agree that clients becoming smarter and more demanding
A lonely 2% of our audience believe that digital is NOT becoming more important than ever
Three-quarters of attendees agree that wealthy families do NOT understand the need for succession planning
80% of our audience do NOT have a will
Two thirds of attendees believe that clients now understand that the world is more transparent
90% of the audience agree that private banks still operate in their own best interest
Philanthropy is not high on the client agenda in India according to our survey
58% of our attendees are engaging with the next generation with no issues
The majority of our audience predict there will be more demand for clients to access more international investments
90% of attendees believe ETFs and Passive Funds will become more important in the next few years
Three quarters of the audience agree that the next generation will prefer to manage their wealth management online
Only 25% of the audience agree that a robot will replace a financial adviser
For our attendees, technology will help them most by improving communication with clients
10 INDIAN WEALTH MANAGEMENT FORUM 2018 - POST EVENT REPORT
Indian Wealth Management Forum 2019
Thursday 22nd August
