You’re absolutely right that trusted brands often show a bias toward their own AMCs, creating a potential conflict of interest for clients. This highlights the importance of unbiased wealth management firms that clients can genuinely rely on for their financial needs.
Regarding PMS/AIF players, while they do operate in the wealth management space, they offer a distinct service focused on maximizing returns, often by taking on higher risks. This can be appealing to certain clients, but most HNIs are unlikely to commit 100% of their wealth to such schemes, especially when their primary goal is wealth preservation with minimal risk. PMS/AIFs can certainly play a role in an HNI’s broader investment strategy, but they are unlikely to be the sole focus. Instead of viewing them as direct competition, I see them as complementary offerings that might attract a portion of a client’s wealth, while the majority remains allocated to traditional wealth management firms.
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