Wealth managers unearth value in smaller towns to beat the slowdown blues

Markets like Raipur and Mangaluru, where people are more cash-rich, offer opportunities that bigger cities don't

Prateek Pant, head of product and solutions at Sanctum Wealth Management, had his team visiting Gujarat for a few years to service clients there; and earlier in 2019 decided to create a more permanent base.

“We went to Ahmedabad and opened up a branch there earlier in the year,” he said, adding that he is evaluating options in other places such as Jaipur and Raipur as well.

Other wealth management firms are also in the expansion mode, the slowdown in the economy notwithstanding.

Deepak Chellani, head of third party products in the distribution arm of broking house Prabhudas Lilladher said