Private Wealth Management India

MarketsandMarkets: Indian Family Offices Are Expected To Reach 940 in Number Till 2015

India has registered tremendous growth in terms of the population of HNWIs and their wealth ie. Ultra-HNWI & Family Offices in India, especially after the recent economic crisis. It has also given rise to new class of wealthy individuals known as Ultra high net worth individuals which possess huge amount of untapped wealth.

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. Single family offices serve only single family and look after the individual needs of the family but they are costlier than multiple family offices. In India, single family office owners are Azim Premji (Premji invest), Ajit Khimji (Khimji family office), N.R. Narayana Murthy (Cataraman), and the Ambani family.

Products and services offerings to an Ultra high net worth individual are just not confined to asset management and financial planning. They also include estate planning, trust planning, succession planning, and governance. 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.

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)

Globally, the minimum qualifying amount of invest able assets is around $50 million to $100 billion but it varies by country to country and by company to company. In India various companies have their own qualifying amount for providing service. Client associates have set it minimum to Rs.10 crore for the service while Kotak, with international firms DSP Merrill lynch and Barclays have a minimum amount of Rs100 crore.

Many established firms which have 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.

Browse in-depth ToC Family offices and intergenerational transfers: Trends and Needs behavior analysis of Ultra-HNWI (2010-2015)

Family offices and intergenerational transfers: Trends and Needs behavior analysis of Ultra-HNWI (2010-2015) report focuses on the trends and needs behavior analysis on Ultra high net worth individual. It shows the market opportunity created by them in terms of untapped market and huge intergenerational transfer in the coming decade. It analyzes various players on parameters such as market share in wealth management; along with the qualifying amount for availing family offices services.

Key findings of the report

  • Indian Ultra HNWI have more risk taking ability compared to its western counterparts
  • Investment in equities and real is most favored among Ultra HNWI.
  • 20% of Ultra HNWI tapped in India
  • 5.78 lakh crore ($128 billion) is on the brink of transfer in the coming decade.
  • Indian Ultra-HNWI are confidential in disclosing their wealth and the decision making is centralized

Scope of the report

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 different 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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