An advisory-led wealth platform that addresses client needs across their financial life, combining the best of digital and RM-led experience
Mumbai, 21st August, 2018: Wadhawan Global Capital, one of India’s leading financial services group with over $22 billion in assets under management globally, announced its foray into wealth management with the introduction of WGC Wealth. The wealth management arm aims to serve clients across the Ultra HNI, HNI, and affluent segment, with a value proposition combining human interface and technology prowess.
Kapil Wadhawan, Chairman, WGC said, “WGC is on the cusp of a unique growth path and our foray into wealth management reaffirms our strategy of offering integrated financial services to customers (clients) across their lifecycle needs. With an increase in upwardly mobile and wealthy Indians, the wealth management business with a distinct trust, technology, transparency-driven and advisory-led approach is a logical next step for us to add to our business lines."
In India, household investment structure is changing decisively in favour of financial products as compared to physical assets, creating significant long-term opportunity for wealth management. Also, to add to this structural change, wealth creation process continues to be strong, with IPO cycle strengthening, and entrepreneurs continuing to monetize their businesses. This wealth creation is not limited to tier-1 cities but has significantly expanded to tier-II and tier-III cities. With increase in financial product penetration, need for good quality, unbiased advice will go up. At WGC Wealth, our aim is to truly build local coverage and address needs of clients across geographies and across asset levels.
WGC Wealth is advocating a ‘Financial Health’ platform to provide all-inclusive solutions for the financial life-cycle of wealthy Indian families. Apart from a best in class investments platform, combining third-party and proprietary products, WGC Wealth will apply proprietary diagnostic tools to study clients’ financial circumstances across their loans, protection and succession planning. This approach will lead to executing suitable solutions to comprehensively improve clients’ financial life. Our platform promises a seamless amalgamation of digital processing power and relationship managers acumen (Digitally Human) to provide a differentiated value and a well curated client experience.
Atul Singh, recognised as one the finest and respected leaders in the wealth management industry, is spearheading the maiden venture. The team consists of the “Best of the Breed” professionals that encompasses industry stalwarts from a cross-section of foreign and Indian wealth management businesses. It will be aided by a nimble, unconstrained, flexible, and capital-backed platform. WGC Wealth has already hired 70 investment professionals, and aims to build a team of 120 employees with an RM strength of 75 by the end of the year, with local presence across 13 cities.
Atul Singh, Chief Executive Officer, WGC Wealth commented at the launch ceremony, “The potential of the wealth management industry in India is undisputed, and there is an opportunity to build the business by offering right advice and differentiated experience to clients. At the core of WGC Wealth is an advisory-led archetype built by industry veterans using immense capabilities of the digital world, enabling it to become the custodians of wealth for our discerning and valued clients. We understand the importance of individual financial journeys, and thus the brand logo (a thumb print that resonates with individuality) stands for our efficacy towards personalisation and powering a next generation platform.”
At WGC Wealth, we want to be a wealth management firm consisting of high quality professionals who take fiduciary responsibility towards investors with clear accountability, transparency and advice.