Page 3 - Wealth Management

Edelweiss founders divest stake in Nuvama Wealth Management after demerger

Nuvama Wealth Management was listed on the BSE and NSE in September 2023, following the demerger of Edelweiss Financial Services' wealth management business

HDFC Bank taps retail bankers as wealth managers amid talent crunch

Mumbai-based HDFC's wealth business has about 800 relationship managers serving customers in about 100 cities and towns

Volatile market: Motilal Oswal explains how to invest in equity, debt, gold

The recent Budget provided a fillip to Multi Asset Allocation funds, which invest in equity, debt and gold, and should be considered as a superior alternative to traditional fixed income

Axis Bank expands wealth management biz rapidly in non-metro cities

Some of the new cities the bank has added include Patna, Raipur, Ghaziabad, Jodhpur, Udaipur, and Meerut

Hong Kong billionaire Adrian Cheng expects city to become top wealth hub

The semi-autonomous Chinese territory is trying to regain its stature as a global financial hub following years of draconian Covid-19 restrictions and a sweeping crackdown against political dissent

Neo Group raises $47.6 million led by MUFG Bank, Euclidean Capital

The capital raised will be used to expand the company's wealth management division and support its asset management business

SBI pushes into wealth management with vigour as wealthy people surge

SBI will face competition from global players like HSBC Holdings Plc and Barclays Plc, and local veterans like 360 One WAM Ltd

Brokerage firm Angel One invests Rs 250 cr in wealth management arm

Brokerage Angel One on Wednesday announced a Rs 250 crore investment into its wealth management arm with an eye to capitalize on the growing affluence in the country. The capital will be deployed to develop core technological infrastructure, leveraging AI and analytics, expand presence in key markets and develop product strategies, as per an official statement. Angel One Wealth has three business verticals, including HNI (high net-worth individuals), UHNI (ultra HNI) and alternate assets, it said. "Through Angel One Wealth we aim to cater to an expansive spectrum of clients, by leveraging technology and staying at the forefront of innovation," Angel One's chairman and managing director Dinesh Thakkar said. It can be noted that some of its peers, including IIFL, already have successful wealth management arms. The Angel One statement said there has been a rapid increase in the HNI population in the country, and is pegged to grow 16 per cent every year to 16.5 lakh by 2027. The com

Wealthy Nivesh Takes its Tech-Driven Wealth Management to Dubai and the Middle East

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Exploring real estate investment opportunities abroad? Know key risks here

From a financial standpoint, the allure of diversifying, tax benefits, capital appreciation, and enjoying favourable rental yields serves as compelling incentive for investment in real estate

IIFL Securities Q4 result: Net profit more than doubles to Rs 180 cr

IIFL Securities on Friday announced its net profit more than doubled to Rs 180.4 crore in three months ended March 2024 driven by strong growth in all the business segments. In comparison, the company had posted a net profit of Rs 86.4 crore in the year-ago period, IIFL Securities said in a statement. Total income surged 74 per cent year-on-year to Rs 704.4 crore for the quarter under review from Rs 405.2 crore in the January-March quarter of the FY 2022-23. "We witnessed strong growth in all our business segments. Our institutional broking and investment banking franchise has significantly improved their competitive position with stellar operating performance. Indian capital market businesses will continue to witness secular growth given multiple tailwinds over the next decade," "Venkataraman, Chairman, IIFL Securities, said. The company's board of directors in its meeting in March approved an interim dividend of Rs 3 per equity share of the face value of Rs 2 each for the financi

Nomura to nearly double profit over 7 yrs with focus on wealth management

Nomura has built out a dedicated team to tap into Asian markets, hiring more than 70 private bankers over the past three years

Will the stock market fall ahead of Lok Sabha poll outcome on June 4?

A well-diversified portfolio and a long-term investment horizon remain the best strategy for navigating election-related volatility and achieving financial goals, said Abhijit Bhave of Equirus Wealth

Wealth management, entertainment, health spends grow in FY24: Razorpay

Spending on dieticians has more than doubled during the same time, while health coaching recorded a 45 per cent increase in transactions

Jio Financial-BlackRock JV to launch wealth management, broking business

The two firms had earlier inked a tie-up in July 2023 to step into the over Rs 50 trillion mutual fund market in India

Stick to planned allocation, no asset class merits going overboard: Shanker

Shanker discusses how the wealth management firm is rebalancing client portfolios and scaling back small and midcap allocations to desired levels

Wealth managers advise clients to reduce their exposure to smallcaps

Somnath Mukherjee of ASK Private Wealth says the risk in the smallcap space has more to do with the enhanced regulatory scrutiny and the slowdown in profit growth

UBS starts job cuts at HK, Singapore wealth units after profit slump

Wealth generation in China has stalled as the nation's economy struggles to regain momentum amid a property crisis and a selloff in equities

Julius Baer Group fills several key roles amid India wealth surge

Abhishek Chandra, formerly a senior executive vice president at Kotak Mahindra Bank, has joined as chief operating officer of the Swiss firm's Indian unit, the bank said in a statement Monday

Angel One, Kotak Mahindra Bank arm executives to launch wealth mgmt biz

Srikanth Subramanian, the former chief executive of Kotak Cherry, will be the co-founder and chief executive of Angel One Wealth, an official statement said