Dailymirror.news, Mumbai, November 13th, 2024: In a collaborative effort, 360 ONE Wealth and CRISIL have launched the latest edition of The Wealth Index report, which provides in-depth research on the investment behaviors, preferences, and wealth management trends among India’s ultra-high-net-worth individuals (UHNIs) and high-net-worth individuals (HNIs). This comprehensive report draws from a survey conducted with 388 UHNIs and HNIs across the country.

India is quickly establishing itself as a significant global wealth center, with 334 billionaires in 2024. Mumbai has also become Asia’s top billionaire city and ranks third worldwide, outpacing cities in the US and China. With robust growth in fintech, e-commerce, space, and defense sectors, wealth creation in India is projected to continue at an accelerated pace.

The Wealth Index provides key insights into the investment approaches and priorities of India’s affluent, serving as a valuable resource for investors, wealth managers, and policymakers.

Karan Bhagat, Founder, MD & CEO of 360 ONE, remarked, “The Wealth Index offers a holistic view of India’s evolving wealth landscape and acts as a strategic guide for navigating wealth management. These insights highlight existing trends while revealing new ways the affluent are managing and expanding their assets.

With new investment options and increased market participation, staying informed and proactive is essential for the wealthy. We hope this report provides valuable insights into wealth creators’ behaviors and inspires meaningful discussions about the role of wealth management.”

Yatin Shah, Co-Founder and CEO of 360 ONE Wealth, stated, “As the largest wealth transfer in history takes place, the focus has shifted to wealth optimization and preservation, ensuring its longevity across generations. We act as trusted advisors, guiding clients in structured wealth management that emphasizes growth while securing the future.

The report also highlights that investors prioritize a wealth manager’s track record, reputation, and service model. This shift emphasizes the value of professional advice for long-term security and peace of mind.”

Jiju Vidyadharan, Senior Director at CRISIL Limited, added, “We are pleased to collaborate with 360 ONE Wealth on The Wealth Index report, which offers an insightful look into the preferences of India’s ultra-HNIs and HNIs. The findings indicate a rising demand for complex wealth management solutions amidst India’s economic boom.

Our research shows that affluent individuals are favoring nuanced investment strategies, including alternatives and ESG-focused investments. They’re also increasingly prioritizing professional advisory services, succession planning, and estate management. CRISIL believes that this shift calls for a more integrated and forward-looking wealth management approach.”

The report reveals a notable shift beyond traditional investment classes, with UHNIs and HNIs showing a growing interest in alternatives like Portfolio Management Services (PMS), Alternative Investment Funds (AIFs), Real Estate Investment Trusts (REITs), and private equity.

Environmental, Social, and Governance (ESG) factors have also become central to investment strategies, with 68% of respondents viewing ESG as essential. This shift reflects a growing commitment to responsible and sustainable investing.

The report also highlights a rise in affluent women, with over 40% of wealthy women aged 51-60 favoring low-risk, stable investments, bringing a fresh perspective to wealth management.

Additionally, 82% of respondents are involved in or planning to engage in philanthropy within the next two years, especially among older UHNIs who have already secured their family’s future.

Succession planning is also gaining momentum, with 72% of respondents recognizing its importance for wealth preservation. Among UHNIs, 86% have either started or completed their estate planning.