By buld_online 
Shriram Group and South Africa’s Sanlam Group have joined hands to launch Shriram Wealth through a 50:50 joint venture. The venture will commence operations in India’s top 10 cities, with plans to expand to 20 cities over the next year, placing a strong emphasis on Tier 2 and Tier 3 markets—regions where Shriram Group already enjoys long-standing brand equity. It aims to achieve ₹50,000 crore in assets under advice (AUA) within five years.
The venture’s primary focus will be to cater to three categories—mass, emerging, and affluent—which will include clients with investable assets ranging from ₹10 lakh to ₹2 crore, high-net-worth individuals (HNIs) between ₹2 crore and ₹25 crore, and ultra HNIs in the ₹25 crore and above bracket.
Vikas Satija, Managing Director & CEO of Shriram Wealth, says, “In India, only 15% of financial assets are professionally managed, whereas in mature markets, the figure is close to 75%. So clearly, that’s a big opportunity to look at in the wealth management space.”
He also pointed out that high-net-worth individuals in the affluent segment are growing at a compounded annual rate of 13–14%, which presents immense opportunities in this sector.
Shriram Wealth plans to democratize wealth through multiple channels, including accessible AI-enabled services, and projects a $10 trillion organized wealth management market. The company will offer a comprehensive suite of services including wealth management, lending solutions, protection solutions, global investment opportunities, and inheritance and legacy planning—powered by tech-led innovations and backed by Sanlam’s global investment expertise.