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The Sanctum Wealth Management road to success in India

In a video interview, Shiv Gupta explains the progress the firm has made in its first year of business, and reveals the priorities for the year ahead – such as consolidating the product platform and doing more digitally.

Having recently celebrated its first year of operation, Sanctum Wealth Management founder and chief executive officer Shiv Gupta is pleased with the progress in terms of making clients comfortable with the proposition and putting in place the basic architecture and infrastructure.

By achieving this slightly ahead of schedule, the firm has now started to see some positive business momentum, explains Gupta.

This ties in with what he says it stands for – to be the most trusted Indian wealth manager, upholding the highest standards of conduct and service. “In this vision is contained almost a roadmap [for us] for the next five years and beyond.”

Enhancing the business

For the next 12 months, Gupta says the key priority is to consolidate the product platform, to be able to use it to bring new and interesting ideas to clients. 

In addition, the firm is looking to develop its digital offering. “We have made a good start, but we want to expand this further in terms of the analytics capabilities that we can bring to our clients.”

Many clients are still at an early stage of how they use technology as part of their wealth management service – with mobile and online access to portfolios and information, and a few transactions, being the common engagement.

However, Gupta says he is starting to see signs that digital can mean a lot more, in terms of the ability to harness, share and use information in a more effective way.

More broadly for the Indian wealth management industry, he is encouraged to see the kind of growth that several domestic wealth managers in have achieved in recent years.

The overall volume of wealth as well as the number of wealthy individuals in the country suggest that, within a few years’ time, what is classified as a ‘large’ wealth manager in India will be five times the size of what it is today, predicts Gupta.

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