Future of wealth management in India lies in human trust powered by AI

Wealth has always been shaped by the tools of the time, from handwritten ledgers and spreadsheets to algorithmic trading and global platforms. These tools didn’t just record value, they influenced how it was created, managed, and transferred. In India, the story has long revolved around tangible assets such as gold, real estate, and fixed deposits, all enduring symbols of security and legacy across generations.

 

The narrative, however, is undergoing a shift. Today, wealth in India is increasingly defined by ambition, aspiration, and acceleration. The country is now home to over 85,000 high net-worth individuals (HNIs) and 191 billionaires, positioning India as the fourth-largest global wealth hub, behind only the US, China, and Japan. And this is just the beginning.

 

 

By 2028, according to a report, India’s HNI population is projected to grow by 43 per cent, reaching an estimated 122,119 individuals. This surge is being driven not just by metro cities, but by Tier-II and Tier-III hubs, where startups, tech services, and new-age manufacturing are creating wealth at scale.

 

As sources of wealth diversify, so do client expectations. Wealth management can no longer be about products alone, it must deliver insight, personalisation, and foresight. And at the heart of this transformation lies artificial intelligence, not as a futuristic buzzword, but as a practical enabler that is already changing how Indians interact with money.

 

From data to decisions

 

At its core, wealth management is about making informed decisions. AI helps us do that better by sifting through mountains of data. Market trends, economic indicators, even social sentiments are analysed to find patterns that humans might miss. This isn’t about replacing judgment, it’s about sharpening it.

 

For example, investment platforms are now using predictive analytics to identify early signals of market shifts, enabling portfolio managers to respond with agility. A sudden change in shipping data or a spike in commodity prices might trigger a portfolio adjustment before the headlines even break. What was once rare foresight is fast becoming standard practice—powered by intelligence.

 

Personalisation that actually feels personal

 

What sets India apart is the diversity of its wealth creators- a first-generation startup founder in Bengaluru, a family-business owner in Surat, and a salaried professional in Indore may all sit at similar wealth levels, but their goals, risks, and legacies are vastly different. AI allows us to reflect that nuance. It doesn’t just assess risk tolerance, it can learn from career paths, income patterns, spending habits and even emotional responses to volatility.

 

Imagine a young entrepreneur whose income is concentrated in the tech sector. An AI-powered advisor might suggest diversifying away from tech stocks, not because of market conditions, but because the client’s human capital is already tied to that space. That is personalisation with purpose.

 

Advisors aren’t going anywhere

 

There’s a common fear that AI will make human advisors obsolete. The reality is quite the opposite. What’s changing is the nature of the advisor’s role. Routine tasks, like onboarding, compliance checks, and basic reporting, are increasingly automated. That frees up time for what really matters- conversations, strategy, and trust.

 

In fact, some firms are already reporting productivity gains of up to 30 per cent simply by integrating AI into their advisory workflows. But the real value isn’t in efficiency, it’s in empathy. Technology can analyse, predict, and optimise. What it cannot do is replace the human trust that sits at the heart of a lasting client relationship. By taking over repetitive processes, AI allows advisors to focus on what truly matters- listening to client aspirations, navigating family dynamics, and building trust across generations. AI handles the data, humans handle the nuance.

 

Seeing around corners

 

Geopolitical risk, market volatility, and regulatory shifts have always been part of the investment landscape. What’s new today is our ability to anticipate them. AI tools can simulate scenarios, like a sudden interest rate hike or a regional conflict, and show how they might ripple through a portfolio.

 

This kind of modeling isn’t just academic. It is about helping firms make real-time decisions about currency exposure, supply chain vulnerabilities, and asset allocation. In a world where a single tweet can move markets, having that kind of foresight is no longer optional — it is essential.

 

The road ahead

 

India is at an inflection point. Wealth is no longer confined to metros or traditional asset classes, and the expectations of clients are evolving rapidly. AI offers wealth management companies the ability to democratise high-quality advisory, bringing insights once reserved for ultra-HNIs to a much wider base of affluent Indians.

 

But technology is only as powerful as the intent behind it. The future of wealth management in India will belong to those who can combine AI-driven intelligence with human empathy and trust.

 

The winners will not just be the ones who manage portfolios better, but those who help clients navigate ambition, risk, and legacy in a way that feels personal, purposeful, and future-ready. 

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(The writer is the president and head - Cards, Payments and Wealth Management, Axis Bank) 

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper