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Strategy & Practice Management

Edelweiss' targeted approach to tapping India's wealthy

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Anshu Kapoor of Edelweiss Global Wealth Management explains how the firm is focusing on three specific client segments to ensure that what it provides are relevant to the needs of its clients.

Indian wealth manager Edelweiss Global Wealth Management has grown to a 100-person business over the last few years, including nearly 50 advisers, on the back of a strategy of segmenting its clients to properly understand and cater to their needs.

According Anshu Kapoor, head of private wealth management, the firm focuses on three categories of clients: entrepreneurs plus the next generation; family offices; and institutions.

To service the needs of each group, Kapoor has built teams of specialists for these segments.

For example, there is an UHNW advisory team which looks at the needs of the new generation as well as the next generation of entrepreneurs.

For family offices, Edelweiss has a mix of specialists, including ex-investment bankers, ex-currency traders, ex-commodity guys and ex-real estate experts, as well as wealth structurers. “These individuals have come together to build the capability to offer holistic solutions to clients,” explains Kapoor.

When it comes to the institutions, he says the opportunity is huge, given that this segment is largely untapped.

Priorities

On the back of the firm’s strategy, Kapoor says the results have been quite encouraging. “We are growing at about INR1,000 crores (USD175 million) a month in AUM.”

At the same time, he says the firm is building a digital core. The aim is to remove a lot of the friction which exists when clients interact with any wealth manager – from onboarding to getting their various requests serviced.

“We are trying to create a digital pipe, so we are investing a lot at the front end, to drive client engagement,” explains Kapoor. “And at the back end, we have an association with IBM.”

This also ties in to how the firm is trying to deliver content to clients, as part of efforts to improve the overall quality of advice.

Anshu Kapoor

Head of Private Wealth Management at Edelweiss Private Wealth Management