What Expert's Say?
On Simplicity vs. Complexity: "Investing is about simplicity, not indulgence. The obsession with 'smart-sounding' products hurts long-term returns," says Feroz Azeez, Deputy CEO at Anand Rathi Wealth.
On Concentration vs. Over-diversification: "Real wealth creation happens through concentration in quality ideas held with conviction," notes Rajesh Saluja, CEO & MD at ASK Private Wealth.
On Asset Allocation: "Markets will always give opportunities but only if you survive... Asset allocation is the real foundation of long-term wealth," says the late Rakesh Jhunjhunwala.
On Behavioral Discipline: "Over the years, I've seen promoters and ultra-HNIs move in herds... The discipline is missing," observes Ashish Gumasta, Founder & CEO of Gumasta Partners.
On Luxury Real Estate: "People have moved away from investing in land as it is less liquid, and more wealth has been allocated to residential real estate since the pandemic," says Alok Saigal, President and Head of Nuvama Private.
Greece Becoming a Lucrative Alternative to Dubai for Indian HNIs
If we look at the latest figure, Greece's 250,000 euro permanent residency program is emerging as a lucrative alternative to Dubai for wealthy Indians today, especially given the noticeable vulnerability of Dubai as we are witnessing in the midst of the West Asia conflict. As per the credible sources, about 100 Indian buyers (HNIs) have purchased properties in Greece in the past year given the geopolitical advantages and lifestyle benefits compared to other residency options. Nine families in the past month and 17 since January have invested in the permanent residency programme through us," stated Gaurav Tarjar, who heads India business development and sales at Greece's MIBS Group. This upsurge is due to the fear that Dubai may no longer reamin what it was. The interest in the UAE has dipped around 1by 3 percent, the the enquires for Greece are up by 4 percent over the same period.
Conclusion
As India witnesses an upsurge in HNIs number, the dynamics of wealth management will evolve with the evolving market dynamics. As geo-political uncertainty rises, investment horizons extends, and wealth management becomes more hybrid in nature, HNIs must open themselves up to this evolving trajectory to reap of the optimal benefits out of investments and tax incentives. However, this can only be possible with a robust wealth management roadmap.
