From counting to creating wealth

by Hansi Mehrotra

3rd December 2014

As a chartered accountant, you are already probably involved in your clients’ wealth management process. Your clients probably ask you for details to be shared with their private bankers or private wealth managers. Perhaps you have wondered about how wealth managers use that information, how the wealth industry works or if you are able to expand your practice into wealth management.


This guide aims to provide you with an introduction to wealth management.


It starts with a definition of wealth management i.e. answering what wealth managers do. Given the growth in wealth in India, the wealth management industry presents a huge opportunity in India. It comes with challenges too, including regulation, lack of client trust and slow pace of product innovation. Indeed, a number of global brands, from UBS and Morgan Stanley in private banking to Ameriprise in retail, could not quite make a profitable business out of the opportunity and decided to exit.


However, I believe, you have something that these brands were spending lots of time and money to acquire. Trust.


You are already a trusted adviser to your client. By understanding the process of wealth management, you can help your clients not only account for their wealth, but also help grow it.


Like any other area of expertise, it will take time and effort to acquire skills and knowledge. You can choose the depth depending on your interest and client segment.


This guide helps you start on that journey. I hope to see some of you travel some distance. Indeed, I hope I can help with your journey.


Please do help with any feedback you have on this guide.