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Indian wealth management revolution gathers pace

The number of ultra-wealthy Indians is rising fast and international firms are flocking to the country to service them.

New age businesses
“India is home to over 100 unicorns, valued at more than $1bn; however traditional business families still dominate the top of the wealth pyramid in the country because personal ownership drives personal wealth,” notes Yatin Shah, co-founder of 360 ONE, one of the country’s largest wealth management companies, overseeing $46.7bn, from a client list of close to 7000 families.

“Traditional businesses are usually closely held, with ownership remaining within the family. The market value of new age firms may be higher, but their ownership is usually spread across founders, employees and investors,” explains Mr. Shah.


Read the original article:

Professional Wealth Management, a publication from the Financial Times