New Wealth Managers in India- the Chartered Accountants !!

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16 November 2010
Ravi Nawal
In an upcoming report titled - Trends in Indian Wealth Management Market, Celent analyzes the key emerging trends in the wealth management domain in the Indian market. The report captures all that is shaping the contours of this very interesting market place. One of the key discoveries is the growing trend of chartered accountants doubling up as wealth management consultants. This is a new phenomenon, where in small accountancy outfits are also doubling as point of sales of tax planning and savings instruments for clients. These products range in breadth from insurance to mutual funds. In larger cities accountants are also helping clients route investments into private equity and venture capital transactions. Manned by professional accountants with long standing relationships with their clients, smaller accountancy firms are only recently beginning to leverage their intimate understanding of their clients' financials to advise them on suitability of different product classes for investments. This class has become active in advisory services in the wealth management domain recently. The wealth management offerings are positioned more in way of the traditional financial advisers. Accountants have emerged as an important intermediary in the wealth management business lately, charging commission income for products proffered and fee income for advisory services as their overall annual fee. Interesting how new channels are adding to the dynamism of the market place !!!


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