As India’s wealth management sector experiences unprecedented growth, 360 ONE Global stands at the forefront of this transformation.
At the heart of 360 ONE Global’s approach is an unwavering commitment to putting clients first. “Our mission is clear,” Malhotra tells PBI.
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“We are dedicated to placing our clients’ needs at the forefront of everything we do. This isn’t just about providing financial services—it’s about delivering long-term performance coupled with personalised care. We call this philosophy ‘Performance Plus.'”
This dedication is more than just a mantra; it’s the foundation upon which 360 ONE Global has built its success. “We’ve been able to consistently delight our clients over the past 16 years because we listen to them, understand their unique needs, and tailor our solutions accordingly. This approach has allowed us to manage assets worth approximately $63bn, making us the most prominent Indian wealth manager today.”
With 360 ONE Global, the firm aims to extend this success beyond India. “Our goal is to replicate the 360 ONE India success story on a global stage,” Malhotra explains.
“We’re not just expanding geographically; we’re expanding the depth and breadth of our services to meet the complex, worldwide wealth needs of our clients.”
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By GlobalDataDifferentiating in a competitive market
In the highly competitive wealth management industry, differentiation is key, and 360 ONE has consistently set itself apart through innovation and foresight. “We’ve always been a step ahead in adopting business models that align with the interests of our clients,” Malhotra notes.
“For instance, a few years ago, we led the Indian market towards a recurring revenue and advisory fee-based business model. This shift has not only enhanced client trust but also provided a sustainable revenue stream for us.”
360 ONE’s global initiative is another example of its pioneering spirit.
“We were one of the first sizable offshore wealth management initiatives from an Indian wealth manager,” Malhotra says.
“We approached this with a best-in-class, truly global mindset, scaling our operations to a level that many of our peers have yet to reach.”
A significant part of 360 ONE Global’s success lies in its ability to blend global best practices with local expertise.
“Our global wealth and asset management proposition is designed to be fully aligned with our clients’ interests,” he continues.
“We’ve brought together a team of industry veterans who have built and scaled market-leading businesses at global private banks across Asia, the Middle East, and the UK. This, coupled with our deep investment and product capabilities, allows us to offer a single-stop solution for all our clients’ wealth management needs.”
Capitalising on India’s wealth management boom
The wealth management market in India is undergoing a significant transformation, driven by a combination of economic growth, rising income levels, and an increasing appetite for professional financial advice.
“India’s GDP growth has been nothing short of remarkable,” Malhotra points out. “It’s projected to remain the fastest growing among major economies, positioning India as one of the top three economies globally within the next five years.”
This economic dynamism has fuelled the growth of the wealth management industry.
“The financialisaton of savings in India has been a game-changer,” Malhotra explains. “We’re seeing a strong shift towards market-based investments, away from traditional asset classes like real estate and fixed deposits. This trend, combined with liquidity events from stake sales and IPOs, has significantly increased the investable wealth among Ultra-High-Net-Worth Individuals (UHNWIs).”
As a result, 360 ONE Global has found ample growth opportunities. “The phenomenal growth of wealth in India is just the beginning,” Malhotra says.
“There’s a clear structural trend towards greater global diversification of wealth among Indian UHNW families. As they become more internationally inclined, we’re perfectly positioned to help them navigate global markets and manage their wealth across borders.”
Evolving investor preferences and 360 ONE’s adaptive strategies
Investor preferences in India are rapidly evolving, with mutual funds continuing to play a central role in portfolios. “Mutual funds have long been a staple of Indian investments,” Malhotra says.
“But what’s really noteworthy is the growth of the Systematic Investment Plan (SIP) model. SIP investments in India reached an astonishing $24bn for the financial year 2023-24, growing at nearly 20% annually over the past six years.”
Yet, as the market matures, there’s a growing interest in alternative asset classes. “We’re seeing more sophisticated investors exploring private equity, credit funds, and other alternatives,” Malhotra notes.
“The alternative investment fund market in India is booming, with commitments up 36% year-on-year as of March 2023.”
360 ONE Global has been quick to adapt to these changing preferences. “Our open-architecture approach allows us to offer a comprehensive suite of investment products from various global asset managers and private banks,” Malhotra explains.
“Our Global CIO office plays a crucial role in this by providing unbiased, high-quality investment insights that guide our clients in making informed decisions. We’re not just offering products; we’re offering tailored solutions that align with our clients’ evolving needs.”
Navigating challenges and seizing opportunities
Despite the promising outlook, the wealth management industry faces its share of challenges, particularly in democratizing access to high-quality financial advice. “There’s a strong trend towards making curated wealth management solutions accessible to a broader audience,” Malhotra states.
“Technology is playing a pivotal role in this. At 360 ONE, we’ve been at the cutting edge of technology-enabled wealth management with platforms like Altiore and our recent acquisition of ET Money.”
Globally, the wealth management sector is also being reshaped by competition from fintech’s and robo-advisers. “These digital-first models are challenging traditional firms, especially in the mass affluent segment,” Malhotra observes.
“However, in the HNI and UHNI segments, wealth management remains a highly personalized, relationship-driven business. This is where 360 ONE Global excels. We operate as an Independent Asset Manager (IAM), leveraging the best of both worlds—capitalising on the custodial services of leading global private banks while offering bespoke solutions tailored by our international experts.”
The future of wealth management with 360 ONE Global
Looking ahead, Malhotra envisions a future where the lines between local and global wealth management blur.
He explains, “In India, local wealth managers currently dominate the market, controlling 90% of domestic wealth management AUM. Global private banks manage only 10%. This creates a unique cross-border opportunity for collaboration.”
The next few years, Malhotra believes, will see a surge in partnerships, mergers, and acquisitions between local and global players.
“Local players have deep market knowledge, while global players bring significant capital and expertise. There’s immense potential for new collaborations and innovative strategies,” he adds.
360 ONE Global is already at the forefront of this trend, expanding its global footprint while staying true to its roots.
“We’re not just building a global business; we’re building a global business that remains deeply connected to India,” Malhotra concludes.
“Our vision is to be the pre-eminent trusted advisor for Global Indian Families, both onshore and offshore, and to be the India investment partner of choice for global institutional and private wealth capital. The future of wealth management is global, and we’re excited to lead the way.”
With its client-centric philosophy, innovative strategies, and global perspective, 360 ONE Global is not just navigating the future of wealth management—it’s shaping it.
