Mandeep Nalwa shares the view of many practitioners when it comes to growth in wealth in India – that it will continue for at least another six or seven years.
This is based on expectations that capital inflows into the country will increase, in turn providing opportunities for investors who see positive returns in infrastructure and other sectors such as technology, says the founder and chief executive officer of Taurus Wealth Advisors.
For firms like Taurus, meanwhile, the India growth story also presents opportunities to partner with local players that deal with HNI and UHNI clients and that have some representation overseas. Nalwa says Taurus can look after the international share of wallet.
For example, the Singapore-based multi-family office already works closely with a firm that has a large team of relationship managers. Although it has a non-compete deal in place and does not offer any advice on Indian product, it advises the Indian clients on their international assets, he says.
For HNI and UHNI clients, the appeal of such an offering is that they don’t want to invest all their assets locally, plus India’s regulatory regime allows them to do so under certain guidelines.
They can then access, via Taurus, global capital markets for corporate financing needs, as well as diversify their public market exposure away from Indian stocks and bonds.
At the same time, the firm can assist its Indian partners as clients look to expand their businesses internationally and their children are educated and live overseas, adds Nalwa. This is also part of bringing family governance to Indian clients – an area in which the firm has expertise.