Wealth Management Companies
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Corporate Membership

Benefits of Corporate Membership
Corporate Member
Scenario of Wealth Management Advisory Services Industry in India
Background

The Indian Economy is growing at a robust rate. Indian Financial Services Industry gets a rub-off of this growth, but also has some complexities to shoulder along the way. The challenges are a transition from Commission based to Advisory based services as a result of “No load” regime in Mutual Fund schemes. The investor today is not only looking for a financial product in isolation but in a holistic manner for meeting his/her life goals and risk factors. Therefore, there is a crying need to enhance and upgrade the skill set of the financial product advisor in order to protect and safeguard the interest of the investor and develop a long term relationship with him.

The Wealth Management industry in India is a prime example of the success of free competition in the country. Wealth Management is one of the fastest growing disciplines of the banking sector and with a GDP growth rate hovering around the 9% mark and a strong future outlook, India’s growth story is making it an increasingly attractive market for wealth management firms. This trend is expected to continue, with India estimated to become the third largest global economy by 2030.

Given the nascent stage of the market and a demographic and regulatory environment that is significantly different from elsewhere in the world, Wealth Management Business Houses consider the following to succeed in the Indian market:

  • Building of brand and focus on overcoming the trust barrier.
  • Invest in advisor technology to improve advisor productivity and retention.
  • Evaluate a partnership-based model, coupled with innovative use of technology, to increase reach.
  • Focus on transparency and compliance, while targeting customers with attractive, segment focused products.
Current Primary Focus of Wealth Management Business Houses
  • Qualified advisors will be the best brand ambassadors for new firms seeking to gain a competitive edge against established players
  • Investor education programs could deliver information pertaining to various asset classes and the associated risks, fee structures and benefits of each.
  • Establishing trust is a vital component for any successful brand-building exercise in India.
Strategies Opted by Wealth Management Business Houses
  • Invest in brand building to build trust.
  • Invest in advisor technology to improve productivity and advisor retention.
  • Offer a 360-degree view.
  • Shifting to a profit-sharing model (where the advisor’s fees are based on the overall performance of the portfolio) would help mitigate issues to some extent.
Immediate Issues before Wealth Management Business Houses
  • Difficulty in putting a value to your service & advice.
  • Building the right business model.
  • Maintaining brokerage structure may be difficult and cumbersome and bulky.
  • Technology – Online platforms with direct investments.
  • Immediate cash-flow concerns.
Need for Qualified Advisors!
  • The Current Indian Financial Advisory Market is looking for Brand building through its “Qualified Advisors” as Brand Ambassadors
  • Qualified Advisors shall develop trust with the clients on a better footings.
  • Qualified advisors will be the best brand ambassadors for new firms seeking to gain a competitive edge against established players.
  • Advisor platforms that offer lead management, portfolio management, financial profiling, asset allocation and transaction management capabilities can integrate multiple touch points and improve advisor experience.
  • IFA’s require a qualification to equip themselves with the required skill set and knowledge to call themselves as “Qualified Advisors”.

Benefits of Corporate Membership with AAFM India

By becoming a Corporate Member of AAFM India, the organization has joined the movement of establishing the Wealth Management Advisory Services Standards in the country and hence indirectly contributing to the noble cause of bringing the positive change and revolutionizing the financial services industry.

  • Every representative of Corporate Member has the Right to bring new industry norms and guidelines for establishing the standards.
  • Every Corporate Member has the privilege to nominate 200 professionals from their organization to enroll for the CWMTM Certification Program through the Corporate Route at a discounted price of Rs. 7500/- as against the actual cost of Rs. 15,000/-
  • AAFM India can organize seminars / debates / discussions on the topics of contemporary importance and interest to its members and clients at large for Wealth Management Advisory Services.
  • It would provide constant opportunities to its members to network and advertise themselves.
  • Corporate Members would get the privilege of discounted price for attending seminars & events organized by the AAFM India or its alliances.
Our Request

Given the nascent stage of the Indian wealth management industry, firms face a shortage of trained advisors. This problem is further aggravated by the high rate of employee attrition. Developing and retaining highly qualified advisors will be critical for organizations, as this is the key differentiator for leaders vs. laggards

Your organization is an integral part of the Financial Planning & Wealth Management Advisory Services Industry in India. “We understand that your organization can play a stellar role in “Building the Wealth Managers of Tomorrow” by promoting CHARTERED WEALTH MANAGER (CWMTM) certification at the organizational level and become a Corporate Member of American Academy of Financial Management India.” We believe an important force with the potential to change the wealth management market dynamics is the entry of the Financial Planning & Wealth Management Advisory Services entities into the wealth management market. While they haven’t been aggressive yet, their entry into the fray is inevitable.

The effort will bear fruit in increased sales through long-term relationship of such knowledgeable intermediaries with clients. We request you take forward this drive by designing suitable framework for your employees and Advisors.

We anticipate that the details provided above shall assist you in taking a positive step forward towards becoming an integral part of establishing the standards for the Wealth Management Advisory Services in the country.

Corporate Member

1. Rivergate Capital Partners
2. Ffreedom Financial Planners

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