Thirst for the Great Talent & Rise of Investment Industry
Introduction to Wealth Management
Definition: Wealth management is a comprehensive service that combines investment management, financial planning, tax services, and estate planning for high-net-worth individuals and families.
Market Stance:
- Financial Advisory market in India with a projected market volume of US$ 384.70bn in 2024. ~INR 32 Lac crores.
- Having segmentation across levels RMs & Clients front. Top premium RMs managing ~Avg 400 Cr of AUM & top Clients.
- There are around top 500 RMs managing 2 Lac Cr of AUM.
- Median RM manages around 20-100 Cr of AUM counts 5000 in Nos Rest managed by retail players & participants.
- Attrition ~ 10-20% & new head addition accounts ~ 15-20% Avg. Makes 1500-2000 movements annually.
The wealth management landscape in India is experiencing a notable transformation as a growing number of firms, many of which initially began as boutique, urban-based entities, are now expanding their operations into tier-2 and tier-3 cities. This strategic shift is in response to the substantial increase in wealth within these regions over the past two to three years, thereby opening up new market opportunities for these wealth management companies, and creating opportunities for talent in the space.
