Wealth management and the triple multiplier effect
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India’s wealth management industry is entering a pivotal phase, with current assets under management (AUM) estimated between $1-1.2 trillion. As India accelerates its trajectory as the fastest-growing economy coupled with a dynamic investment landscape, the Indian wealth management industry is poised for sufficient expansion. This growth is underpinned by the ‘Triple Multiplier Effect’ – the confluence of rising High Networth Individuals (HNI) investors, asset appreciation, and savings from incremental growth in income. Further, the future of wealth management will be contingent upon the ability of wealth managers to meet the complex needs of a new generation of HNI investors. Emergence of India’s HNIs and investors Industry estimates suggest that the number of high net-worth individuals (HNIs) in India is growing at 16% annually and is likely to reach 1.67 million by 2027. This is a function of new wealth creation and the emergence of ne...