India's top 1% now control $11.6 trillion in assets
India's wealthiest 1% now control a massive $11.6 trillion in assets, with $2.7 trillion of that ready to be managed or invested.
Thanks to higher incomes and a shift toward more flexible investments, there's a growing need for professional wealth managers.
Wealth management firms set to benefit from this trend
Firms catering to the ultra-rich are on track for over 20% profit growth as more people look for expert advice.
Right now, these managers handle just 11% of liquid assets, but that could jump to 17%, with total managed assets possibly hitting $1.6 trillion within 10 years.
More people are joining the millionaire club
Booming capital markets let the super-rich turn company shares into cash through IPOs and sales.
Plus, more startup founders and early employees are joining the millionaire club—so demand for financial advice is only going up.