Spring 2016 Issue
> CFI.co Meets the CEO of AnandRathi Private Wealth Management:
Rakesh Rawal ANANDRATHI HAS RECEIVED THE CFI.CO BEST WEALTH MANAGER INDIA AWARD FOR THE SECOND CONSECUTIVE YEAR. HOW DO YOU FEEL ABOUT THAT? Of course, I am immensely proud of my entire team. We have worked hard to get the organisation to where it is today. However, instead of getting complacent, I intend to let it serve as motivation for my team to keep up the great work, and ensure that the AnandRathi brand continues to be recognised for what it is – a collective of experts, committed to fearlessly delivering uncomplicated advice to clients with a view to safeguarding and growing their wealth while planning to pass it on to subsequent generations with near-to-zero transmission loss. ANANDRATHI OPERATES IN A RATHER CROWDED ENVIRONMENT OF WEALTH MANAGEMENT SERVICE PROVIDERS. WHAT INNOVATIONS HAVE YOU INTRODUCED TO REMAIN AHEAD OF THE CURVE AND THE PACK? Our primary innovation is the holistic approach to private wealth management. Rather than the typical top-down approach where the client is a passive recipient of wealth management advice, we understand that our clients are an integral part of the advisory process. Given this fact, our approach is categorically not product-driven. Instead, we are objective-driven, taking a long-term view of our clients’ intended destination, in order to appropriately advise them on their journey. We also strongly believe that simple is good – if I am able to achieve my client’s objectives by ‘uncomplicating’ the process of managing their wealth, then my own objective has been achieved. HOW HAS BUSINESS DEVELOPED FOR ANANDRATHI OVER THE LAST YEAR? Business has been excellent. Our assets-undermanagement (AuM), the number of in-house financial strategists, and our revenue have all grown by 30% or more. Our business model is solid and our methods sound. We have our sights set on a target, and are determinedly moving towards it. WHAT ARE YOUR VIEWS ON THE GROWTH OF PRIVATE WEALTH MANAGEMENT AS A BUSINESS, OVER THE NEXT FEW YEARS IN INDIA? According to a recent study by a well-known consulting firm, India is now among the key drivers of growth in the Asia-Pacific Region, with growth rates of the HNI (high-net-worthindividual) population and wealth, at 26.3% and 28.2% respectively. Usually, a single wealth management professional’s capacity to take on clients does not exceed thirty or forty
CEO: Rakesh Rawal
at the most. When this fact is considered along with a view of increasing HNI numbers in India, a clear gap emerges. At AnandRathi, we view this phenomenon as an opportunity to build our CFI.co | Capital Finance International
business. We are looking to hire more financial strategists and further strengthen our capacity to cater to the wealth management needs of a HNI population on the rise. i 205