India presently has GDP growth of 8% and the country is striving hard to improve its GDP growth rate. The growth rate of Ultra High net Worth Households (UHNHs) or ultra-rich households is presently at 16%. In fact, even the number of Ultra High Net worth Households saw a steep increase in the numbers from 100,000 to 117,000 last year. This number has a strong chance of getting tripled within three years due to emerging changes in economic and political sectors of the country.
It is said that wealth managers need to get moving on mobile as India is in a nascent stage in terms of wealth management. The modern day wealthy people are spending more on luxury travel, investments and charity. Even the net worth of these ultra-rich families will grow at a rate of 34% from INR 104 lakh crore to 408 lakh crore by financial year 2018-19.
Presently, these ultra-rich families can be divided into 3 categories- Professionals, entrepreneurs and inheritors. The inheritors and entrepreneurs invest 20-25% into their main business where professionals save and invest in their respective investments. The one trend that we might have missed is that most of these ultra-rich families belong to the non-metro cities and small towns. They are investing in equities and with low risk, they are hopeful that the new government will deliver structural reforms.
If you're planning to hire a wealth management service then consider the following points:
It is easy to get the first four points but the fifth one is a bit tricky. Performance is not only about how much return you have gained but it is important to focus on the stability of the returns. It is important to look at the firm's overall business and not just its year by year results. Another important thing to note is that the investment approach of the firm must be amiable to your investment approach.
While some firms adopt a value approach regarding equity investment, others adopt growth. If you're planning to invest your hard earned money to reap greater benefits, then it's best to do some research work. Ask friends and colleagues for advice, and of course then there's the internet! With internet services, you'll be able to search across the world for the best options. Go through their services and once you're satisfied with their terms, contact them. Professional and reliable wealth management services will provide you with a lot of genuine advice to help you invest wisely to earn more.
It is said that wealth managers need to get moving on mobile as India is in a nascent stage in terms of wealth management. The modern day wealthy people are spending more on luxury travel, investments and charity. Even the net worth of these ultra-rich families will grow at a rate of 34% from INR 104 lakh crore to 408 lakh crore by financial year 2018-19.
Presently, these ultra-rich families can be divided into 3 categories- Professionals, entrepreneurs and inheritors. The inheritors and entrepreneurs invest 20-25% into their main business where professionals save and invest in their respective investments. The one trend that we might have missed is that most of these ultra-rich families belong to the non-metro cities and small towns. They are investing in equities and with low risk, they are hopeful that the new government will deliver structural reforms.
If you're planning to hire a wealth management service then consider the following points:
- Philosophy
- Process
- People
- Price
- Performance
It is easy to get the first four points but the fifth one is a bit tricky. Performance is not only about how much return you have gained but it is important to focus on the stability of the returns. It is important to look at the firm's overall business and not just its year by year results. Another important thing to note is that the investment approach of the firm must be amiable to your investment approach.
While some firms adopt a value approach regarding equity investment, others adopt growth. If you're planning to invest your hard earned money to reap greater benefits, then it's best to do some research work. Ask friends and colleagues for advice, and of course then there's the internet! With internet services, you'll be able to search across the world for the best options. Go through their services and once you're satisfied with their terms, contact them. Professional and reliable wealth management services will provide you with a lot of genuine advice to help you invest wisely to earn more.
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