Fintech, ethical wealth advisors, and goals-based strategies will reshape wealth industry say industry experts

CFA Society India, in collaboration with CFA Institute and the global association of investment professionals, hosted its second annual India Wealth Management Conference, in Mumbai on July 21 st , 2017. The conference, attended by close to 350 investment management professionals, offers delegates a chance to interact with peer practitioners and industry leaders on issues that are influencing the wealth sector.

“India's ultra-high- net-worth individuals’ wealth base is expected to grow at the fastest pace among that of major global economies. Yet, most of India’s high-net- worth-individuals lack access to basic wealth management services. Our aim with this conference is to help wealth managers develop deeper insights on competencies and top-in- class practitioner frameworks,” explains Jayesh Gandhi, CFA, president of CFA Society India (volunteer) and senior portfolio manager at Birla Sun Life Asset Management Company Limited.  

 The 2nd  India Wealth Management Conference featured two power-packed panels, and industry speakers who demystified wealth management in practice. The conference began with an extremely valuable, data driven session on ‘The Three Changes which will Reshape Wealth Management’ by Saurabh Mukherjea, CFA, CEO, Ambit Capital. It featured an insightful session by Sankaran Naren, CIO, ICICI Prudential AMC Ltd. on ‘Asset Relocation / Multi Asset Strategies for Wealth Management’. This was followed by a session on ‘Goals-based Wealth Management’ by Jean L.P. Brunel, CFA, and former chief investment officer of JP Morgan’s global private bank.

“The rise of “Direct” schemes, the growth of online and low cost stock broking, and death of alpha in large cap fund management are the changes which will reshape wealth management”,said Saurabh Mukherjea, CFA, Chief Executive Officer, Ambit Capital.

“We cannot serve individuals with institutional solutions. A new process is needed to take care of the special features of each client, detailing advice where needed and providing systematic solutions where applicable. Markets do not always do as expected and goals may change hence one needs to keep verifying that they are on the right track”, said Jean L.P Brunel, CFA, Managing Partner, Brunel Associates LLC.