JOIN USWaterfield Advisors to reach $2 billion AUM by FY 2017
Waterfield Advisors, an advisory firm for family-owned businesses and trusts, has stated that it would reach an asset base of $2 billion by the end of this fiscal.
“We are currently managing Rs 9,000 crore of assets for 30 ultra-high net-worth individuals (UHNWIs). Our ambition is to serve 25% of the total 200 ultra net-worth Indians over the next five years. Also, our asset size is expected to reach $5 billion by 2019,” said Waterfield Advisors CEO and Managing Director Soumya Rajan.
Rajan, who worked for over 15 years in the financial space before quitting from Standard Chartered Bank in 2010, said the wealth advisory business space is increasing in India and the current private banks and other financial institutions are better suited to serving the affluent and high net-worth individuals (HNIs) in India.
“We all know that there is also enormous conflict of interest in this space. Those who manufacture products incentivise distributors through product commissions for their sales. Waterfield Advisors would like to deliver services without a conflict of interest and our approach is holistic,” she said.
Rajan said that Indian families, classified as UNIs with above $50 million investible financial assets, have been facing issues like legacy, business succession, philanthropy, managing inter-generational wealth and how to handle the next generation, among others.
“A majority of Indian families are first and second generation entrepreneurs. Some of these families generate liquidity at an early stage and need our help for preserving the wealth and growing it responsibly. We help them invest across asset classes including equities, fixed income and the alternate investment space.”
She said the biggest issue that families face is tackling succession-related developments. “Indian families will witness $128 billion passing from one generation to another during the coming ten years. They are looking at succession without conflict. We approach the issue in a holistic way with trust and confidence,” she said.
Globally, there is approximately $2.5 trillion under management with an estimated 4,000-5,000 family offices. “We are also addressing the investment needs of some of these global families and assess the opportunities in India for them,” she said.
The Mumbai-headquartered company, which began operations in August 2011, has presence in New Delhi and Chennai too. “We will start another office in Bengaluru soon.
Currently, we employ only 18 and it will reach 25 by the end of this fiscal,” she said.
Also, Waterfield Advisors is planning to service its clients for their requirement like lifestyle and travel. “We plan to tie up with a lifestyle company so that it can be integrated into our services,” she said.