• Financial asset growth: Over the past decade, Indian bank deposits expanded 2.6 times to ₹240 lakh crore, while mutual fund investments grew 7x to ₹80 lakh crore, PMS assets rose 7x from ₹1.5 lakh crore to ₹11 lakh crore, and AIF markets surged 12x to ₹12 lakh crore.
• Democratizing wealth management: Leveraging digital tools, the Account Aggregator framework, and AI allows institutions to deliver the same institutional-grade advisory typically reserved for ₹5 crore-plus clients to mass-market individuals with ₹10 lakh or less.
• Client porting friction: While market settlement cycles have advanced to T+1, moving a client between wealth managers remains a physical process taking up to 15 days, highlighting a critical need for digital portability reform.
• IDFC FIRST expansion: IDFC FIRST Bank scaled its wealth management business from ₹1,000 crore to ₹58,000 crore over the last six to seven years, supported by digital adoption, zero-fee banking, and simplified interest structures.