Stock Market

Limit domestic equity, bet on debt and global stocks: how Kotak, IIFL manage HNI wealth, and crisis

Concept: Pravin Palande and Muhabit ul haq

Synopsis

Wealth-management firms are trying to expand their client base even as many HNIs evaluate their investments during the pandemic. While wealth managers are going for a more diversified mix for each portfolio in a volatile market, any technology company that provides advice on such matters could eat into their pie. Experts don’t rule out a consolidation in this fast-changing space.

Even as the pandemic gives a shiver to economies, markets, and businesses across the globe, Julius Baer Wealth Advisors (India) recently surprised many in the HR circle. It hired six relationship managers, two product specialists, and a head of wealth management, Himanshu Bhagat. For a wealth-management firm, it was an unusual time to hire — at least that’s what conventional wisdom would say. The market had crashed 40% on March 23 from its

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