If you’re exploring serious wealth advisory in India, it helps to know who’s making the mark. In this post, I’ll walk you through what (in my view) are the top 10 private wealth management firms in India. I’ll also share metrics, strengths, and potential pitfalls—so you have both data and perspective, not just a list.

Why Portfolio Management matters now

The private wealth management space in India has been growing fast. By 2024, the combined assets under management (AUM) of India’s top 10 portfolio management firms in India touched about USD 800 billion. As capital markets mature, new wealth is being created (especially via technology startups, IPOs, and rising real estate values). So more families, entrepreneurs, and professionals are asking, “Who can manage my portfolio and legacy—globally, tax-efficiently, and with nuance?”

With that backdrop, let’s rank and profile the top firms.

How I picked these 10

My selection is based on a mix of:

• Reported AUM
• Breadth of services (tax, estate, cross-border investing)
• Digital or tech capabilities
• Reputation among high-net-worth individuals
• Independent rankings and industry league tables

The Top 10 Firms:

Here’s a table to help you compare them at a glance:

Firm-by-Firm Snapshots

1. Dezerv

Dezerv is still relatively young (founded in 2021) but ambitious. Their model is tech-enabled: they combine data-driven portfolio construction with digital interfaces. For many clients, they offer more transparency than traditional models.

2. 360 ONE WAM

This is the rebranded form of IIFL Wealth / IIFL Asset Management. As of March 2025, their AUM is reported at ~₹5.81 lakh crore. They offer full suite wealth + asset management + advisory services. Because they combine size, reputation, and reach, they’re a top pick for clients who want both stability and scale.

3. Kotak Wealth

Kotak’s wealth arm benefits from one of India’s strongest private banking brands. They offer investment advisory, financial planning, family office services, etc. In many “top 10 wealth firms” lists they appear high.

4. ICICI / ICICI Private Banking

ICICI’s advantage is its existing banking footprint. If you already bank with them, it’s straightforward to integrate your portfolio, credit lines, and wealth advice. Their private banking arm is well-resourced and trusted.

5. Axis Burgundy / Axis Bank Wealth

Axis positions its “Burgundy” or premium section as a premium offering for wealthy clients. They can cross-sell banking, credit, and structured products. Their strength is convenience for clients already with Axis.

6. HSBC / UBS (India operations)

These global names bring strengths in cross-border investing, offshore structuring, and global access. For someone whose assets or interests span countries, these firms often outperform purely domestic players.

7. SBI Wealth

As part of India’s largest public sector bank, SBI’s wealth arm has reached. Their challenge is to match tech sophistication and bespoke service, but they benefit from trust and legacy.

8. Aditya Birla Capital / Finance

This conglomerate operates in many financial verticals (mutual funds, NBFC, insurance). Their wealth arm can leverage internal products and group strength.

9. Anand Rathi Wealth

Smaller and more boutique, Anand Rathi allows for more personalized attention. For clients who want hands-on service, boutique firms can often beat large ones in flexibility.

10. Edelweiss Wealth

Edelweiss is known for creative structuring, alternative asset expertise, and flexibility. If your portfolio includes non-standard assets (private equity, hedge strategies), this can be an advantage.

What to Watch Out For (Risk Factors & Red Flags)

When choosing a wealth management firm, don’t just look at AUM or brand name. Here are some pitfalls:

1. Hidden fees & lack of transparency – Some firms may charge more than they disclose (entry fees, exit loads, advisory overlays). Always ask for a full fee breakdown.
2. Conflict of interest – If a firm pushes its own products (e.g. mutual funds, NBFC products) ahead of third-party ones, that’s a red flag.
3. Lack of succession planning / continuity – In boutique firms especially, what happens if your advisor leaves?
4. Technology / reporting gaps – A portfolio is only as good as the oversight and data you have. Firms with outdated reporting systems may be a drag.
5. Limited global access – If you plan to hold assets abroad, firms without cross-border competence will be weak.

How to Pick Your Firm

Here’s a simple checklist to apply when you pick from the list above:

• Minimum investable capital they require
• Track record over multiple market cycles
• Services beyond investing (tax, estate, philanthropy)
• Client to advisor ratio
• Digital reporting, transparency
• Cross-border or alternative investment capabilities

Do your own due diligence (meet advisors, ask for references). The best firm for someone else may not suit your style or needs.

Final thoughts

From my view, putting Dezerv on top is justified given how fast it is scaling, its tech-first approach, and disruptive model. But legacy firms remain strong for reasons: scale, trust, breadth of services.The Indian private wealth management sector is at a crossroads. While established giants like 360 ONE Asset and Kotak Wealth continue to lead in scale, new-age, tech-driven players like Dezerv are offering a compelling alternative defined by transparency, expert oversight, and better accessibility.