Key Trends in the Indian Wealth Management Market
Abstract
The organized wealth management sector in India is growing, and there is a major opportunity for providers, which has led to the evolution of business models.
The organized wealth management sector has seen tremendous growth in the past two years, reaching 60% market share (compared to 40% in 2007). This is due to a three-way push: increasing presence of organized providers, income and profitability pressures resulting in consolidation, and talent migration.
In a new report, Key Trends in the Indian Wealth Management Market, Celent examines emerging product, provider, client, and regulatory trends impacting the wealth management industry in the country.
“The sheer size of the wealth management market in India and the desire of financial institutions to corner a large market share have resulted in fascinating trends in the sector,” says Ravi Nawal, Senior Analyst with Celent’s Indian Financial Services Group and author of the report. “The significant growth of the industry is impacting providers, products, and clients and their interactions with each other in a number of ways.”
This report examines sector-related changes, the size and growth of various client segments, shifts in product preferences, specialization of provider classes and the emergence of new provider classes, and changing customer behaviour.