'Wealth management industry is likely to grow at 10-15% over next 5 years'

After two spectacular years of a good run in the equity market, markets will consolidate before it sees the next phase of growth, says Reliance Wealth Management CEO Nitin Rao

High net-worth individuals are increasingly opting for more evolved products like alternative investment funds, portfolio management services, hedged strategies, private placement, co-investing and higher credit risk exposure products, says Nitin Rao, chief executive officer at Reliance Wealth Management in conversation with Puneet Wadhwa. Edited excerpts:

How have the investing trends among the wealthy changed over the last two-three years? What is the road ahead?

Customers have become more aware of investment avenues in general and mature investors have also understood the correlation between distribution costs and the degree of complications in normal investment products. Coupled with the emergence of direct