| | June 20168Consultants ReviewThe Wealth Management Industry has always been at the forefront of immense action owing to fast changing domestic and global market dynamics, growing number of HNWIs and an era of complex wealth management solutions. Post the 2008 financial crisis, the wealth industry has seen massive shift owing to change in global regulations, changing client behavior, rapid advancement of technology and a fluid competitive landscape.India PerspectiveAccording to the Asia-Pacific 2016 Wealth Report by New World Wealth, India is ranked among the top five Asia Pacific countries in terms of the number of High Net Worth Individuals (HNWIs). The report further stated that India is expected to witness a 105 percent growth in Wealth Management ­ A Shifting Landscape with Exciting OpportunitiesEstablished in 2007, Tata Capital is the flagship financial services company of the $108 billion worth Tata Group and provides fund & fee based financial services to its retail, corporate & institutional customers. Dasvir Ankhi has over 16 years of experience in banking, broking, financial products distribution and asset management industry.IN MY OPINIONHNWI population from 236,000 to 483,800 by 2025. The rising increase of e-entrepreneurs, professionals and inheritors presents a challenge of a diversified approach to cater to the rising UHNWIs in the country. The Indian wealth management industry has witnessed a transformation from a fragmented IFA based investment solutions provider (product selling) earlier to a more organized wealth management landscape (goal based investment solutions) with world class technological advancements, customized product offerings and personalized advice based on the prevailing market conditions. Shifting Landscape During the pre 2008 , systemic risk was substantially viewed as a non-issue. Correspondingly, investors were almost exclusively focused on the expected performance of their asset managers and only marginally concerned about non-performance-related issues, such as operational risk, regulatory risk, liquidity risk, fund governance and transparency. But now, the market as a whole has Advice from wealth managers are more need based and towards managing risk as compared to just out performance from a set of investmentsBy Dasvir Ankhi, Head - Wealth Management, Distribution and Advisory, Tata Capital
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