Pune, 19th July 2022: Edelweiss Private Wealth, the wealth management arm of Edelweiss Wealth Management, which caters to the needs of UHNI, family offices, Business owners, corporate treasuries,affluent individuals,and otherstoday announced that itsPune division (which covers Maharashtra and Goa, ex Mumbai) reported a jump of 105% in itsclient assets as compared to its clients in rest of India. Itsclient base also increased by 44% CAGR between 2019 and 2022.
The Pune division was launched in 2019, under the leadership of Priyanshu Gaurav.The firm’s commitment to bring value to the table at every step across services and Investment products has played a significant role in the division’s growth. ThePune team worked closely with business families and UHNI’s in Pune to understand their business / individual financial needs and help them achieve their medium to long term objectives by extending best in class financial products, risk management and tech enabled execution platform.
Mr. Alok Saigal, President & Head, Private Wealth, Edelweiss Wealth Management, said, “We are committed to offer world class solutions to our clients in Pune and Tier I, II cities in Maharashtra and Goa, empowering them to capitalize on the India growth story. Our innovative product suite, added with the customer experience we provide has ensured us to be one of the key wealth management players in a market which has the potential to grow 15% by 2025according to Industry estimates”
He further added that “Pune is a vibrant city with a well-established entrepreneurial culture. The city has attracted investments in multiple sectors like infrastructure, green energy, technology, and the services sector etc. which are key to support fast paced growth. Located about 120 kms from Mumbai India’s financial and commercial hub, it can cater to the needs of multiple geographies further aiding the growth of the city and the state of Maharashtra and Goa.”
Priyanshu Gaurav, Managing Partner & Market Head Pune, Rest of Maharashtra & Goa, Private Wealth, Edelweiss Wealth Management said that “Pune & Rest of Maharashtra region has a wide array of businesses from Manufacturing, IT, Real Estate, and a flourishing startup ecosystem. We have made a sincere effort to be a helping hand to our clients in creating and preserving wealth by providing bespoke solutions. Our extensive platform, high quality research across the spectrum makes us a preferred wealth manager of Family Offices, Business Entrepreneurs, UHNI and Corporate Treasuries,this has resulted in a growth of 316 times in a span 3 years with current client assets standing at INR ~2100 cr as of March 2022”
The focus of GOI to transform cities like Pune, Nasik, Ahmednagar, Nagpur, Solapur, Kolhapur, and Panaji etc. into smart cities has facilitated a boost in development projects in Infrastructure and Technology. As a result, an ecosystem has been created for entrepreneurs and business owners to participate in the economic growth and overall development of these cities and states. This will steer large business, promoter families and Entrepreneurs of these states to create sustainable wealth which will help propel the economy towards the USD 5 trillion dream; wherein the wealth will no longer be concentrated in the metros but also such Tier I, II cities of India.