India’s wealth management industry is witnessing remarkable growth as rising affluence, digital adoption, and evolving investment preferences reshape how individuals manage their money. With the number of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) increasing steadily, the demand for personalized financial advice and structured portfolio management is at an all-time high.
According to a report by Credit Suisse, India is expected to add nearly 70 million new middle-class households by 2030, significantly expanding the investor base. As a result, top wealth management firms are strengthening their offerings to cater to diverse investment needs ranging from equities and fixed income to alternative assets and international exposure.
The Growth Story of India’s Wealth Management Sector
The Indian wealth management market has evolved rapidly over the past decade. According to the Boston Consulting Group (BCG) Global Wealth Report 2023, personal financial wealth in India is projected to reach ₹1,016 lakh crore by 2027, growing at a compound annual growth rate (CAGR) of 11.4%.
Some of the major drivers fueling this growth include:
- Rising HNIs and UHNIs: India’s HNI population is expected to grow by more than 50% over the next five years, as per Knight Frank’s Wealth Report 2024.
- Financialization of savings: With awareness about mutual funds, PMS (Portfolio Management Services), and AIFs (Alternative Investment Funds) increasing, households are shifting away from traditional assets like gold and real estate.
- Digital transformation: Firms are using technology-driven platforms to make investment strategies more accessible, transparent, and data-driven.
Key Services Offered by Wealth Management Firms in India
Wealth management in India goes far beyond just advising on stocks. Today’s firms offer a full suite of solutions, including:
- Investment advisory and portfolio management – Tailored strategies across equity, debt, PMS, and AIFs.
- Estate and succession planning – Helping families secure wealth transfer across generations.
- Tax planning and structuring – Ensuring portfolios are optimized for post-tax returns.
- Global investment access – Allowing investors exposure to international equities, ETFs, and funds.
The combination of these services positions wealth managers as trusted partners in building long-term financial security.
Leading Wealth Management Firms in India
Several firms have established themselves as leaders in this space, combining expertise, trust, and scale. Based on industry recognition, AUM (Assets Under Management), and market reputation, here are some of the top wealth management firms in India:
- Kotak Wealth Management – A pioneer in serving ultra-HNIs, Kotak has consistently ranked high due to its specialized services and robust research capabilities.
- Dezerv – A fast-growing digital-first wealth management platform, Dezerv is redefining investing for modern professionals by leveraging data-driven strategies and simplified portfolio access. Its focus on tech-enabled investing and transparency makes it a strong choice for new-age investors.
- ICICI Wealth Management – Known for its wide reach and strong advisory framework, ICICI Wealth serves a diverse client base across India.
- IIFL Wealth & Asset Management – Among the largest players, managing assets worth over ₹3.43 lakh crore as of March 2024 (source: IIFL Annual Report 2024).
- HDFC Private Banking and Wealth – Strong brand trust combined with digital advisory solutions has made HDFC a go-to option for many affluent families.
- Motilal Oswal Private Wealth – Recognized for its equity research-driven approach and client-centric services.
- Edelweiss Private Wealth – Offers a mix of domestic and global investment options, catering to both HNIs and family offices.
These firms cater not only to ultra-rich families but also to the rapidly growing segment of first-generation entrepreneurs, professionals, and business owners seeking structured financial planning.
The Role of Technology in Modern Wealth Management
Digitalization has significantly changed the wealth management space in India. According to a PwC India report, nearly 60% of HNIs prefer a hybrid model combining human advisors with digital platforms for execution and portfolio tracking.
Some of the ways technology is shaping the industry include:
- AI-driven portfolio recommendations based on risk profiling.
- Mobile-first platforms that provide 24/7 portfolio monitoring.
- Robo-advisory services for mass affluent investors.
- Blockchain and digital assets slowly emerging as new areas of interest among younger investors.
The Future Outlook
As India’s economy continues to expand and household incomes rise, wealth management will remain one of the fastest-growing segments in financial services. BCG projects that India’s share of Asia-Pacific wealth will double by 2030, making it a global hub for asset managers.
We can expect greater emphasis on sustainable investing, ESG (Environmental, Social, and Governance)-focused portfolios, and global diversification strategies as investor preferences evolve. Firms that combine personalized advisory with tech-enabled convenience are likely to lead the next growth wave.