Program Objective

Private Wealth Management (PWM) which started as niche business in Indian banking system decades ago, has now become an integral part of business for many banks and large NBFCs alike. In fact, some small NBFCs provide cutting edge PWM services through financial technologies. While, to start with, this business typically focused on High Net Worth Individuals (HNWIs) and Ultra High Net Worth Individuals (UHNWIs), today PWM business groups in financial institutions manage the wealth of even family businesses and corporates. Again, this business had typically been fee based, organically linked to the deposit accounts of the PWM customers. However, it has slowly evolved into a “composite business” linked to new business strategy for lending to HNWIs and UHNWIs for setting up of social enterprises, niche SMEs that are part of ultra-value chains and luxury life style.  Digitalizing the Client Lifecycle for Global Wealth Management is yet another new frontier of this business

Financial institutions, through new business strategies, organisational structures and technologies are delivering integrated private banking services through multidisciplinary business groups. This in turn has been throwing up issues of governance especially relating to risk management, compliance, conflict of interest, unfair practices, products suitability and appropriateness in the context of customer protection. New regulations have either been put in place or are under contemplation.

Program Highlights

Key topics and issues to be covered in the Program are the following:  

•    An overview of PWM business : PMS ( discretionary and non-discretionary), IAS and private banking

•    New Business Models :  Family Wealth Management Services -Corporate Wealth Management Services -Robot Advisory – Financing of social enterprises

•    KYC/ AML issues in PWM business - Frauds & Financial Crimes in PWM – Case Studies

•    Regulatory Issues : Recap of past events and lessons learned - Current regulations - SEBI, RBI and IRDA - Good governance, conflict of interest, fair practices, suitability and appropriateness criteria 

•    Future of PWM Business - New frontiers of private banking

•    Emerging legal and regulatory issues