Mumbai-based multi-family office - Waterfield Advisors has crossed UD D 1 billion (roughly Rs. 6,700 crore) assets under advisory, said a press release issued by the company.
Founded in in 2011 by ex-banker Soumya Rajan, Waterfield Advisors provides family office and corporate advisory services to ultra-high net worth families (UHNW).
“The family office space is characterized by three emerging global trends - a growing number of high-net-worth and ultra-high net worth clients around the world, especially in the Asia-Pacific region; more affluent families seeking out experienced professionals to manage their wealth to fit their specific financial goals and risk tolerances; and ultra-affluent clients demanding professional and customized financial services. Globally, it is estimated that there are approximately 4,000-5,000 family offices of which only 3-5% are housed in Asia-Pacific, suggesting a significant growth potential over the next five to ten years for the Family Office format of wealth management services in the region,” sates the release.
According to the Credit Suisse Global Wealth Report 2015, India has around 2,100 UHNW families while China has five times the number of UHNW families, further underlining the potential in the region.
The company is planning to expand the reach of its services both by attracting more families to its differentiated platform and by expanding its geographical coverage within the country. The firm currently has offices in Mumbai, Delhi and Chennai, but serves clients across the country, states the release.
