The Private Wealth Management Summit India 2017 (conceptualised by Inventicon Business Intelligence), held in Mumbai on July 13-14, 2017, offered a close view of the who’s who among India’s money managers, financial advisors who shared a few well-chosen insights on the markets, investment choices and wealth management. While the two-say summit focused mainly on the behaviours of India’s high networth investors, the various investment avenues for the affluent and the changing landscape of the wealth management industry, the event also held some lessons for the aam investor.
The summit began with a keynote address by Abhijit Bhave, CEO, Karvy Private Wealth (see below) who began by noting his ‘4Es’ of customer experience — Ease, Exposure, Expenses and Education. While these were aimed at wealth managers, turning them a bit could make them tips for any investor. First comes ease. While making any investment don’t let the agent drown you in jargon and process. Next comes exposure, i.e. invest only in products which suit your risk profile. Third is Earnings & Expenses, meaning assess the total cost of an investment vis-à-vis its returns. Last is Education, meaning you must be fully aware of all the facets of the investment you make.
Other notable sessions on Day 1 included one on Risk Profiling and Investment Suitability by Tarun Birani, Founder & MD, TBNG Capital Advisors. The first day also featured a panel discussion on ‘Robust investment styles and strategies for invigorating your portfolio returns’, with the panel comprising Mohit Gang, CEO & CoFounder, Moneyfront (see below), Amitabh Chakraborty, MD & CIO, Indarra Capital, Sriniwas Nandiraju, co-founder, Finalytix In and Feroze Azeez, Dy CEO Private Wealth Management, Anand Rathi Financial Services.
As Day 1 drew to an end, Mohit Gang shared his views on the impact of digitisation on wealth management in India, especially Robo Advisory services. Though nascent here, the concept has a strong hold in the US where assets worth $300 billion are managed through investment algorithms, he revealed. Speaking of the viability of this concept in India, Gang said that prima-facie a digital investment setup eschews the cost of brick & mortar shops also people and servicing costs. He added that the approach is not without risks such as minimal physical connect, security and data privacy.
Key among the sessions on Day 2 — that largely focused on family offices, inheritance and legal issues faced by Indian family-owned businesses — was a talk by Kunj Bansal, ED & CIO, Centrum Wealth (pictured below) on ‘Equity as an asset class in the current economic scenario’. Bansal hit bulls’ eye when he said, “More money his lost waiting in a correction than in an actual correction”.
Exhorting investors to put their money in equity, he backed up his conviction by drawing up a neat picture of the inflation-beating returns that equity has offered over the years and the potential this asset class holds despite the markets charting new highs every other day. He concluded by saying that investors must eye optimally valued investment opportunities within equity and constantly review their asset allocation strategies. The Summit ended with a panel discussion on Next-Gen HNWIs and wealth management in Indian Families.
(The Karvy Finapolis was one of the official media partners at the summit)