Nuvama Private: Powering wealth growth through targeted strategies and optimized technologies

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Nuvama Private, the UHNI arm of Nuvama Group, has emerged as one of the fastest-growing private wealth players in India. With a mission to preserve, enhance, and ensure sustainable growth of its clients’ wealth, Nuvama Private has prioritized keeping individual and institutional customer needs at the center of all its endeavors.

Currently, its client base comprises more than 3000 of India’s wealthiest families, including new-age entrepreneurs, business owners aside from CEOs & CXOs, family offices, and corporate treasuries. Nuvama Wealth also advises 800,000 high-net-worth individuals through its affluent platform.

Developing a growth mindset through an “Attract, Retain and Empower” strategy

Importantly, by December 31, 2022, Nuvama Private secured USD $27.18 billion of client assets under management, realizing a 35% CAGR during the 2015-2022 period. This consistent growth approach has been driven by a unique “attract, retain, and empower” strategy that is able to both source investor flows and deliver superior returns.

Specifically, the strategy encompasses building a high-performing “A” rated advisory team that maintains an industry-leading USD $30 million of assets under administration (AUA) per financial advisor. Likewise, Nuvama Private has ensured a financial advisor retention of 86% thereby consolidating key competencies and expertise needed for long-term client engagement.

Similarly, through the Nuvama Private Learning Academy, the firm has empowered its financial advisors, directly addressing the talent development needs of the wealth management industry, while enabling the financial planning of clients through dedicated workshops. Indeed, Nuvama Private is now well-positioned to build on its existing customer engagement and service delivery augmented by technology-driven platforms.

Accelerating value creation and delivery of wealth management solutions

Fundamentally, Nuvama Private has been effective in connecting its diverse client base with the requisite tools needed to preserve and grow their wealth. The team of financial advisors have a specific mandate to create bespoke solutions for clients incorporating a 360-degree approach to client’s needs while extending their expertise across asset classes informed by market research and prudent risk management to hedge market volatility.

Moreover, the private wealth manager deftly leverages technology as a value driver that is reflected both in its Nuvama Markets app which is now the highest-rated Indian stock trading app on the Google Play store, and with Nuvama Private app where clients can view their portfolio data on-the-go and benefit from simpler financial reporting. In addition, the Infinity Platform solution provides a comprehensive investment approach to clients, enabling the creation of multi-asset class portfolios, ably managed by a team of experts and designed specifically based on client objectives, circumstances, and life stages.

Likewise, through the deployment of Salesforce, the client journey has been integrated on an end-to-end basis significantly enhancing the client experience with seamless digital onboarding and transaction execution. Furthermore, important client communication pertaining to regulatory updates, distributions, and account status are all automated contributing to time savings. Nuvama Private has also automated service requests, with 70% of all client service requests now being auto-delivered.

Identifying new investment opportunities as portfolio return enhancers

Certainly, Nuvama Private continues to strengthen its capabilities in assessing and evaluating new opportunities across markets and asset classes. Ranging from public and private equity to fixed-income securities and alternate investments, the private wealth manager is continually looking to identify and execute market-related opportunities for clients in a timely and systematic manner capturing superior risk-adjusted returns.

Clearly, the ability to quickly respond, adjust, and adapt to evolving investment trends on a real-time basis, while also actively monitoring portfolios, especially during periods of adverse market movement remains Nuvama Private’s key sustainable competitive advantage among its peers. Indeed, as Nuvama Private continues to enhance its innovation in wealth management solutions, technology-led service capabilities, and exceptional client experience it remains well-placed to expand its assets under management.

Affirming its institutional achievements, Global Private Banker has recognized Nuvama Private as the “Best Private Bank in South Asia” and a Highly Acclaimed “Best Private Bank for UHNW Clients” distinction at the recently concluded Global Private Banking Innovation Awards 2023.

Image by: Pixabay

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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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