Just thinking loud, assumuning an hni need to visit office to talk face to face to chose his wealth manager and assess the quality of operations…he goes to MG road and see two offices side by side, one is Anand Rathi wealth and other is HDFC Wealth (assuming they carve it out) and on next turn is SBI Wealth next to Tata Wealth …which one would he first chose to assess and have faith?
Digitally as well, whom would he chose assuming marketing, branding etc is all equal.
Agree, great businesses would be asset light and high returns but they must not depend excessively on people decision & perception
Lastly with many people coming to direct equity investment, they would soon be managing their money themselves…
Somehow the moat for wealth business seems a lot people dependent…on the hni people perception and in the person managing wealth and his connections … With many public/mutual fundsand smallcases generating matching returns, who actually needs a seperate wealth manager?
Thoughts welcome
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