Reengineering the platform for future growth
Anshu Kapoor, Head, Private Wealth Management, Edelweiss, talks about the performance of the firm in 2017 and how they are leading the wealth management industry in India with their cutting edge and innovative solutions.
“Our growth has been fantastic. We have grown over 60% for the year. Our Assets Under Manage-ment (AUM) have grown from USD8 billion to USD13 billion,” says Kapoor.
The numbers tell a great story, but Kapoor mentions that it is not just the numbers but the quality of those numbers that is great too. About USD7 billion out of the USD13 billion AUM comes from top 125 clients, which shows the trust clients place in them, he says.
One reason for the growth of Edelweiss has to be the innovative products they offer, says Kapoor.
For example, they offered the first capital protected structure on an actively traded equity portfolio and were one of the first ones to give clients access to infrastructure assets, pre-IPO opportunities, and distressed assets.
Edelweiss also helps family offices set up their structure. In India, says Kapoor, a lot of them are in the evolving phase, and the firm educates them on how to set up shop and get going.
In short, Edelweiss’ solution stack spans widely across business needs and investment needs of the client from risk audit, to capital structure advisory, financing advice etc., to family office charter, entity structure, wealth creation, inter-generational planning etc.
Looking internally, Edelweiss has done a great deal of work to solidify their enterprise structure, says Kapoor. They now have a Chief Digital Officer, Chief Risk Officer, Head of Learning and Development and Head of Investment Advisory.
Hiring a new Head of Investment Advisory is an interesting move for Edelweiss, given how wealth managers have stepped back from advisory due to regulatory fears. “Globally, clients get a PDF report of data. It is too complex and not proactive. Using technology, analytics, data, and insights from the clients, and linking it back to the needs of the client, we want to give advice that is a little more proactive.”
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