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Client Associates, which provides private wealth management services to business families in India and other ultra high networth individuals, is looking to expand its presence both within and outside the country.
In-country expansion would mean the company take up new clients in cities such as Jaipur, Pune, Ahmedabad, Ludhiana and Chandigarh to name a few. Its current presence in India is limited to seven cities that include Gurgaon, Delhi, Mumbai, Hyderabad, Kolkata, Bengaluru and Chennai.
Outside India, it will look to tap clients in countries where there are Indian diaspora that include Singapore, UAE, Hong Kong, the US and London. “Our expansion into the global market will depend on the traction that we can generate though our initial forays. We can tap markets such as Singapore and UAE first and at an appropriate time,” Himanshu Kohli, Co-Founder, Client Associates, told BusinessLine during an interview. “Within India we will look to expand presence to new markets too,” he added.
Nature of business
The Gurgaon-based Client Associates, offers investment management and offshore private banking services. From pioneering the concept of a family office in India, its clientele now includes 500 plus “wealthy families” of the country. Its client-base also includes six of the Fortune 100 families of India.
Apart from business families, the company’s clientele includes new generation entrepreneurs; senior corporate heads across domestic and MNCs; professionals from the legal firms that includes partners and associates and Bollywood actors.
Client Associates also provides services for private wealth management, estate planning, wealth protection, real estate advisory, financing loan and private transactions. The company earnings are through commission (or trial earnings) from providing these services.
Investible wealth
According to Kohli, the company currently manages assets to the tune of ₹20,000 crore. This roughly works out to be ₹40 crore a person across its 500-odd clients.
“We would ideally want a 2.5 times increase in both client base and assets under advise over the next five years,” he said. This means it will target a client base of 1,250, with the asset under advise rising to ₹1 lakh crore.
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