Indian Wealth Management Forum 2019

We were delighted to host our 9th annual event for the Indian wealth management community – the pre-eminent event of its type. 300 senior individuals attended – including CEOs, senior management, product gatekeepers and business unit heads from the leading Private Banks, Retail Banks, IFAs, Insurance Companies and local Asset Management Firms.

Below for your interest and reference are links to various content we captured from the day. Please click on the orange headlines – and do send any comments or feedback to [email protected].

Content Highlights 

Video Highlights 
Video Highlights - PDF 
Exclusive Insights
Testimonials
I Love Wealth Management
Photos
Event summary
Panel discussions
Presentations & Workshops
Videos
Post event Supplement

Post-event Report

You might also like to view the full Post-Event Report – which is a consolidated summary, including photos of speakers & delegates, the attendee profiles & some delegate feedback, polling results, and more.

Event Summary 

India’s market expansion on track for Growth and Evolution

The Hubbis India Wealth Management Forum that took place in late August highlighted the dramatic pace of private wealth accumulation in the country, as the economy and the capital markets continue to power ahead.

Video Highlights

We asked leading industry experts - what are the opportunities and challenges for the year ahead? View the combined video highlights, or click on the links to view the individual videos.

Full Video Highlights
Video Highlights Summary PDF
I Love Wealth Management
Testimonials

Abhijit Bhave, Chief Executive Officer, Karvy Private Wealth
Satheesh Krishnamurthy, Executive Vice President & Business Head - Affluent & NRI, Axis Bank
Anupam Guha, Head of Private Wealth Management & Equity Advisory Group, ICICI Securities
Kailash Kulkarni, Chief Executive – Investment Management, L&T Mutual Fund
G Pradeepkumar, Chief Executive Officer, Union Asset Management
Lakshmi Iyer, Chief Investment Officer (Debt) & Head Products, Kotak Mahindra Asset Management
Neha Pathak, Senior Group Vice President, Trust & Estate Planning, Motilal Oswal Private Wealth Management
Abhijit Joshi, Founder, Veritas Legal
Tariq Aboobaker, Managing Director, Amicorp Group
Shweta Shah, Head, Wealth Structuring and Tax, Edelweiss Private Wealth Management
Rahul Gaitonde, COO, Cube Wealth
Sneha Makhija, Assistant Vice President, Wealth Planning Specialist, Sanctum Wealth Management
Nirbhay Handa, IMCM, Director - GSAT, Henley & Partners
Philip Story, SEO and Head of Distribution, EMEA, Investors Trust
Damian Hitchen, CEO Singapore, Swissquote
Anand Moorthy, Founder & CEO, PropsAMC

Exclusive Insights ​​​

We asked leading industry experts for their exclusive and incisive insights. Click on the links to view the individual videos:

Exclusive Insights PDF

Abhijit Bhave, Chief Executive Officer, Karvy Private Wealth
What can you do to improve your value proposition?

Satheesh Krishnamurthy, Executive Vice President & Business Head - Affluent & NRI, Axis Bank
What does the current revenue mix of wealth managers in India look like? How is it changing?

Anupam Guha, Head of Private Wealth Management & Equity Advisory Group, ICICI Securities
What do you need from your investment platform? How is that changing?

Kailash Kulkarni, Chief Executive – Investment Management, L&T Mutual Fund
Does anyone take learning and competency seriously in India?

G Pradeepkumar, Chief Executive Officer, Union Asset Management
What are the trends in investment patterns for HNIs?
Is there a visible change in client’s preferences between equity and debt?

Lakshmi Iyer, Chief Investment Officer (Debt) & Head Products, Kotak Mahindra Asset Management
How do we attract more women into this business?

Neha Pathak, Senior Group Vice President, Trust & Estate Planning, Motilal Oswal Private Wealth Management
What are the biggest trends in wealth structuring and planning today?
What are the most common concerns of HNW & UHNW clients?

Abhijit Joshi, Founder, Veritas Legal
What specific trends are we seeing from Indian clients?

Tariq Aboobaker, Managing Director, Amicorp Group
What are the challenges that wealthy families face in India?

Shweta Shah, Head, Wealth Structuring and Tax, Edelweiss Private Wealth Management
Are we REALLY ready for the transfer of wealth to the next generation?
What are the biggest trends in wealth structuring and planning today?
What are the challenges that wealthy families face in India?

Rahul Gaitonde, COO, Cube Wealth            
What does the word ‘platform’ mean to you?

Sneha Makhija, Assistant Vice President, Wealth Planning Specialist, Sanctum Wealth Management
What are the most common concerns of HNW & UHNW clients?

Philip Story, SEO and Head of Distribution, EMEA, Investors Trust
What does it mean today to ‘add value’ to a client?

Anand Moorthy, Founder & CEO, PropsAMC
What does the word ‘platform’ mean to you?
What does your firm do?

Panel Discussions 

We held 5 interactive panel discussions throughout the day – which involved 23 senior industry practitioners who we invited to participate and share their thoughts. We have also incorporated into the summaries below the briefing notes which speakers sent to us in advance of the event. Plus, we have included the results of audience polling as well as questions we received from delegates. Click on each headline to view the web versions of these – from which you can also access the PDFs.

Setting the Scene: India’s Wealth Management Market in a Time of Rapid Evolution
A panel of five eminent market practitioners from leading Indian wealth management firms offered their overview of the evolution of the Indian wealth management market, ranging over topics such as the current and future generations of clients, the value proposition, developing a larger portion of recurring revenues, digital transformation, as well as the development of enhanced skills and expertise.

Panel speakers
Feroze Azeez, Deputy Chief Executive Officer, Anand Rathi Private Wealth Management
Anshu Kapoor, Head of Private Wealth Management, Edelweiss Private Wealth Management
Satheesh Krishnamurthy, Executive Vice President & Business Head - Affluent & NRI, Axis Bank
Himanshu Kohli, Founder Partner, Client Associates
Abhijit Bhave, Chief Executive Officer, Karvy Private Wealth

Platforms & Technology – The Role of Digital Transformation in Wealth Management
A panel of technology and fintech experts, as well as wealth management users/clients, discussed the need for India’s wealth management firms to embrace digitalisation. They cast their eye over the challenges to be faced and gave some invaluable insights on how wealth management firms can enhance their digital platforms and systems to be both more competitive and more responsive to the needs and expectations of clients.

Panel speakers
Kunal Bajaj, Head of Digital Wealth Management, MobiKwik
Sharad Singh, Chief Executive Officer, Valuefy
Damian Hitchen, CEO Singapore, Swissquote
Anupam Guha, Head of Private Wealth Management & Equity Advisory Group, ICICI Securities
Rahul Gaitonde, COO, Cube Wealth
Anand Moorthy, Founder & CEO, PropsAMC
Shobhit Mathur, Senior Director & Head - Advisory, Kotak Investment Advisors

Curating the Right Solutions for India’s HNWI Clients in Today’s Environment
A panel of experts debated the key trends on wealth structuring and wealth planning for India’s wealthy private clients and discussed how the industry should best engage and retain younger generation clients, as more and more wealth is transferred to the next generations.

Panel speakers
T.P Ostwal, Managing Partner, T. P. Ostwal & Associates LLP
Ashvini Chopra, Senior Vice President, Times Group
Shweta Shah, Head, Wealth Structuring and Tax, Edelweiss Private Wealth Management
Sneha Makhija, Assistant Vice President, Wealth Planning Specialist, Sanctum Wealth Management
Rishabh Shroff, Partner, Cyril Amarchand Mangaldas
Neha Pathak, Senior Group Vice President, Trust & Estate Planning, Motilal Oswal Private Wealth Management
Tariq Aboobaker, Managing Director, Amicorp Group

India and Women in Wealth Management
A focused panel of prominent female wealth management experts from India gathered to assess the role of women in wealth management, from the viewpoints of both the end-clients and the firms that serve them. The panellists ranged over the need to attract more women into the profession, the growing wealth of women in India, the question of whether these clients have particular investment needs or preferences, and the quest to offer better advisory propositions to them.

Panel speakers
Swetha Manot, Associate Director – Private Wealth Management, Anand Rathi Private Wealth Management
Lakshmi Iyer, Chief Investment Officer (Debt) & Head Products, Kotak Mahindra Asset Management
Ruchi Sankhe, Managing Director, Origination and Client Coverage, Waterfield Advisors
Nithya Easwaran, Managing Director, Multiples Alternate Asset Management

The Quest for Talent in India’s High Growth Wealth Management Market
A team of wealth management leaders gathered at the Hubbis India Wealth Management Forum to analyse the skills that firms will need to boost their proposition in the years ahead, especially as the private wealth market in India expands rapidly and is becoming ever more sophisticated.

Panel speakers
Ashish Gumashta, Managing Director & CEO, Julius Baer India, Bank Julius Baer
Ashish Shanker, Head - Investment Advisory, Motilal Oswal Private Wealth Management
Sachin Taneja, President and Head, Wealth Management, Systematix Group
Arpita Vinay, Wholetime Director, Centrum Wealth Management
Kailash Kulkarni, Chief Executive – Investment Management, L&T Mutual Fund
Anand Varadarajan, Head of Global and Alternative Asset Management, NJ Global Invest
Sagar Khandekar, Executive Director – Client Relations, Kotak Wealth Management
Gaurav Arora, Chief Investment Officer, ASK Wealth Advisors

Presentations 

Below are summaries of the Presentations and Wealth TALKS delivered at the event. These were 10-minute slots hosted either by senior industry practitioners who we invited to speak (Wealth TALKS), or by some of our event partners (Presentations). Also listed with each summary are links to the presentation slides (where these are made available by speakers). Click on each headline to view the web versions of these – from which you can also access the 1-page PDFs.

Global Citizens, Global Residents: Trends and Developments in Investment Migration
Dominic Volek, Managing Partner, Head Southeast Asia at investment migration consultancy Henley & Partners, along with Nirbhay Handa, Henley Director, presented a detailed and thought-provoking Workshop to delegates at the Hubbis India Wealth Management Forum in Mumbai. Their talk highlighted just how many viable alternatives there are for Indian HNWIs seeking alternative citizenship or residence options around the globe.
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The Rise of the Digital ‘Neo’ Banks and the Impact on the Future of Wealth Management
Swiss platform/custody provider Swissquote serves its entire global client base of more than 300,000 customers entirely through a digital interface. Damian Hitchen, CEO for Asia based out of the firm’s new Singapore office and armed with the new CMS licence there, presented a fascinating Workshop to delegates at the Hubbis India Wealth Management Forum, explaining in considerable detail about the arrival of the digital banks in Asia and how the digital revolution is picking up steam. He warned that those in the wealth management industry who do not embrace change face possible extinction as smarter, bigger and more resourceful entrants pile in.
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India’s Wealthy Investors Turbo Charge India’s Expanding Professional Investment Market
G Pradeepkumar, Chief Executive Officer of Mumbai-based Union Asset Management (UAMC) told delegates at the Hubbis India Wealth Management Forum how India’s wealth clients are becoming more influential in the mutual fund industry, how their appetite for equity has been evolving and why the country’s capital gains tax on debt investments seems to be having an impact on the holding pattern.
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Infosys Finacle on Accelerating a Modular Digital Wealth Management Offering
The wealth management industry must, many believe, play catch up. If players in the industry are to both survive and thrive, they require front-to-back digitisation to meet customer expectations, regulatory demands, enhance staff efficiency and satisfaction, and to improve cost efficiencies and boost revenues. Importantly, they need to prepare for competition from new entrants, from smaller FinTechs to Big Techs entering some of their market niches. Jagdish Joshi, Principal Consultant of Finacle Wealth Management Solution for Infosys Finacle gave his insights to the front-end world of empowered digital financial advisory and how Finacle can also provide the robust digital core wealth management engine for mid and back-office operations.
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Boosting Revenues via Intellect Design Arena’s RM Office - 2020 Advantage
Stanzin Tsesdup, AVP, Wealth Cube, at Intellect Design Arena, offered a fascinating presentation to delegates in Mumbai on the firm’s 2020 Advantage digital product, which is designed to significantly enhance the performance of relationship managers in the wealth management industry.
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Investors Trust Assurance Highlights How the 2019 Investment Scene Remains the Same
Philip Story, Head of Distribution for EMEA at Investors Trust Assurance (ITA), told delegates at the Hubbis India Wealth Management Forum how the 2019 global investment story is more of the same, following on from a rather volatile and unpredictable 2018. But he also highlighted the India opportunity, explained how global issues are creating opportunities for offshore investment diversification, and advised the audience how they might work with ITA to access a world of global investment opportunities across multi currencies.
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Edelweiss Fast-Forwards India’s Wealth Management Market Towards Infinity
Anshu Kapoor, Head of Private Wealth Management at Mumbai-based Edelweiss Global Wealth Management, gave an animated talk at the Hubbis India Wealth Management Forum in August to offer his view of the future of the industry. The twin drivers of regulatory necessity and client expectations will, he believes, alter the landscape irrevocably, but the future is bright for those who look ahead and adapt.
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Infosys Finacle and Client Validus Present Theory and Practice in Harmony
Abhra Roy, Head, Finacle Wealth Management Solution at Infosys Finacle and his client, Atul Singh Chief Executive Officer of Mumbai-based Validus Wealth double-teamed for a fascinating presentation on future-proofing the wealth management business with a truly digital platform. Delegates were left in no doubt as to the theory of dynamic change, and the practical results that follow.
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Casamont Highlights the Appeals of Cyprus’ Residence and Citizenship Programme for India’s HNWIs
Ioannis Ioannikiou, Client Advisor for Casamont Cyprus, is a regular presenter at Hubbis events this year and has a fascinating proposition for the Asian wealth management market. He was in Mumbai for the India Wealth Management Forum to highlight the attractions of the Cyprus Investment Programme for Asia’s HNWIs. He focused on the benefits of citizenship and tax residence in Cyprus, which is part of the European Union, and the consequent advantages for structuring wealth in an increasingly appealing real estate investment market.
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Fair Value and the Guide Maps of Investing: Seeking Better Metric for Market Valuation
Vinay Paharia, Chief Investment Officer of Union Asset Management Company Private Limited, the Investment Manager to Union Mutual Fund, believes that we must all become smarter at reading the signs that point us towards value in the equity markets. He presented a lively and informative Workshop at the India Wealth Management Forum to explain his views on the fallacy of the index PE multiple, the strengths of the fair value approach to investing, and how to better map, plan and time market activity.
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Investing in Debt and Equity in the Current Local Market Conditions in India
Ankur Thakore, Chief Distribution Officer of L&T Investment Management in Mumbai addressed delegates at the Hubbis India Wealth Management Forum to offer his views on the Indian capital markets and how wealthy investors should be positioning themselves. He conceded there are several important domestic and global concerns, but believes the right strategies and a longer-term perspective on returns will produce solid and sustainable returns.
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