IIFL Wealth – Getting The Strategy Right To Meet Customer Needs: Motilal Oswal


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In its FY22 annual report, IIFL Wealth Management Ltd. outlined the emerging growth opportunities in the wealth management industry in India.

The growth in the number of high-networth individuals along with increasing wealth of existing HNIs unfolds a huge potential for growth ahead. The ensuing wealth transfer between generations will provide ample scope for existing players having preparedness to adopt technology at a fast pace.

IIFL Wealth will focus on expanding its customer base by adding Rs 50-250 million networth customers. Currently majority of its customers have networth in excess of Rs 250 million. The company has roped in BCG to take advise on the expansion strategy and is expected to launch an offering by the end of FY23 or early FY24.

Also, IIFL Wealth is looking to diversify its geographic presence from the top cities and metros to lower tier cities. For which, the company has identified eight-nine new cities and is looking for a low-cost expansion.

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