Successful Strategies for Wealth & the Wealthy

PMS Bazaar conducted another episode of The Alternates Universe Webinar Series - Season 1- Episode 7- Successful Strategies for Wealth & the Wealthy.

To shed more light on these factors, Mr. Vikas Sachdeva, Managing Director, Sundaram Alternate Assets and Mr. Karthik Athreya, Director and Head of Strategy for Alternative Credit, Sundaram Alternates. with Mr. Anupam Guha, Head - Private Wealth Management, ICICI Securities.

Excerpts from the interview

A Journey of Personal and Professional Growth

The session opened with a personal touch as Mr. Vikas Sachdeva asked Mr. Anupam Guha about how running had influenced his life. Mr. Guha shared that long-distance running 20, 40, even 100 km had deeply transformed him. More than physical endurance, it taught him resil-ience, discipline, and the value of consistent execution.

He recalled the disbelief that surrounded his initial decision to run marathons—both his own and other’s. But setting an audacious goal changed everything. The experience taught him that while planning matters, execution is paramount. Success, he said, comes from breaking down big goals into smaller, actionable steps and staying adaptable when things don't go as planned.

Mr. Guha linked marathon running to professional life: progress isn't linear, and failure is part of the process. Even though running is seen as an individual sport, the role of coaches, dieti-cians, and a support network is crucial, just like in any successful career. Now training for a 72-km high-altitude marathon in Ladakh, Mr. Guha emphasized the importance of self-belief: “If you don’t believe in yourself, why would anyone else?”

Summing up, Mr. Sachdeva quoted, “There are two lives you lead, one before a marathon and one after.”

The Strategic Return to India

The conversation shifted to wealth management in India. Mr. Guha reflected on his decision to return to India from overseas in 2008–2009, convinced the country was on the brink of transformative growth. With over 140 crore people and 90 crore adults, India’s demand for financial literacy and wealth solutions was poised to explode.

He broke down India’s wealth landscape into three major segments:

1. Top 5,000 Families – Representing legacy wealth with net worths above $50 million.

2. Dollar Millionaires – Around 800,000 individuals with $1 million+ in assets.

3. Mass Affluent – Approximately 17 million individuals with wealth between $100,000 and $1 million.

These segments collectively hold nearly 90–95% of India’s total estimated $12 trillion wealth. The opportunity for wealth management professionals is vast.

Old Money vs New Money: Shifting Dynamics

When asked about advising "old" versus "new" money, Mr. Guha outlined the emergence of three dynamic client groups:

SME/MSME Founders – First-generation wealth creators from India’s growing en-terprise landscape.
CXOs and ESOP Holders – Professionals, especially from tech and finance, who gained wealth via stock ownership.
Professionals and Startups - Doctors, architects, and startup founders were also part of this growing pool, contributing to the diversification of India’s wealth holders.

Mr. Guha observed that individuals who built their wealth independently often had a higher risk appetite and a strong desire to reinvest in India’s growth story. This confidence, he noted, came from their personal journeys and belief in the Indian economy. In contrast, those who inherited wealth typically leaned towards preservation, adopting a more cautious approach.

His team focused on simplifying money management for clients. While the backend systems were robust and complex, the client interface was kept intuitive. Their investment philosophy remained rooted in classical asset allocation, with flexibility for tactical shifts when needed.

He emphasised that wealth creation was never easy for clients or advisors. Success was admired, but few saw the risks, sleepless nights, and hard work behind it. Their responsibility was to honour that effort by offering clarity and structure in financial decision-making.

Emerging Trends in WealthTech

As wealth creation expands beyond metro cities, technology plays a pivotal role in reaching Tier 2 and Tier 3 cities. Mr. Guha noted that more than 50 cities now contribute to India’s next generation of investors. To maintain quality across geographies, scalable digital advisory models are vital.

In wealthtech, he sees two defining trends:

Delivery:

Micro-segmentation for deep client insights.
Hyper-personalisation of investment journeys using data and tech.
Multiple delivery models like digital-first for HNIs, traditional for legacy clients.

Proposition:

Fractional real estate, digital bond platforms, and global asset access are changing the game. India is adapting global innovation to suit local needs.

Interestingly, Mr. Guha said the most common tech concern among clients isn’t cybersecuri-ty, it’s forgetting passwords. Simplicity in tech, he emphasized, is non-negotiable.

Evolving Asset Allocation

On market outlook, Mr. Guha reaffirmed the importance of personalised advice. While equity remains the preferred asset for its liquidity and transparency, alternatives like private equity and quant-based models are gaining traction especially as investors seek diversified alpha.

He offered timely advice on interest rates, noting they may be peaking in India. For long-term investors, locking in yields could be a smart move. He also suggested a slight equity over-weight in portfolios for those seeking balanced growth.

On leverage, he was cautious. While appropriate for accredited investors under guidance, it poses risks for average investors, similar to over-leveraging in real estate.

Risks and Challenges in Managing Wealth

Effective wealth management, Mr. Guha stressed, hinges on aligning investment choices with the client’s Investment Policy Statement (IPS). Deviation from a structured approach introduces unnecessary risk. Trust and managing expectations are foundational to long-term success.

He called asset allocation an underrated but powerful alpha generator. Often, when equities shine, other assets like gold or global investments outperform. Maintaining balance ensures resilience across market cycles.

Decade-Defining Trends for HNIs

Looking ahead, Mr. Guha champions a core-satellite strategy—core investments for stabil-ity, and satellite components to ride emerging themes. He sees rising demand for:

ESG Investing – Reflecting investor preference for ethics and transparency.
Quant and Machine Learning Models – For data-driven decision-making.
Private Credit and Alternatives – As HNIs seek non-traditional avenues for alpha.

As India’s wealth landscape grows more complex, the role of professional managers will only grow. What remains unchanged is the need to understand the client—not just their capital, but their journey, goals, and mindset.

Mr. Guha covered all the topics mentioned above in-depth and answered questions from the audience toward the end of the session. For more such insights on this webinar, watch the recording of this insightful session through the appended link below.