Asset Vantage: Cost Effective Engineering Solutions & Services

There has been a surge in the number of India’s ultra-rich families and individuals gradually shifting to third-party services for their wealth management.

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According to a report published in CNBC, about 20 percent of the total private wealth created in the country is managed by Family Offices. Complex nature of the multiple investments, consistent and close advisory needs, and succession plans to carry forward the individual and family legacy are some of the driving factors behind seeking the counsel of FOs. However, the financial institutions serving ultra-rich families and individuals for their wealth management face serious challenges while delivering services to their clients. Some of the existing challenges that limit the scope of service delivery run around the fact that there is a lack of readily available information on the total wealth of the client, including liquid and illiquid assets. Owing to this, financial advisors are not able to provide intelligent business insights based on the complete financial picture. Coming out of legacy systems and providing comprehensive and up-to-date reporting without the time and geographic constraints and building client loyalty are other pain areas that are impeding the scope of service