The Top 10 private wealth management firms in India include established private banks, independent wealth managers, investment specialists and family offices. Names such as 360 ONE, Kotak Private Banking, ICICI Private Banking, ASK Private Wealth, Dezerv, Julius Baer, Motilal Oswal Private Wealth, Anand Rathi Wealth, Entrust Family Office, HDFC Bank Wealth and Axis Burgundy Private offer different service models. The right choice depends on your portfolio size, investment needs, fee preferences and the level of advice or family-office support you expect.
This guide compares the Top 10 private wealth management firms in India on their business models, reported scale, investment capabilities and service focus. It also explains how fees work, what minimum investment requirements apply and what to examine before signing an agreement.
This is an editorial shortlist, not a ranking based on investment performance. The firms have different business structures and reporting methods. Their AUM, assets under advice and relationship values should not be compared as identical measures.
What Is Private Wealth Management in India?
Private wealth management brings together investment planning, portfolio monitoring and financial coordination for affluent individuals, HNIs, UHNIs, business owners and families. Instead of looking at individual investments in isolation, a wealth manager considers the client's broader financial position, goals, liquidity requirements, risk appetite and investment horizon.
The Top 10 private wealth management firms in India generally offer some combination of:
- Investment planning and portfolio reviews
- Mutual fund and fixed-income product distribution
- Access to Portfolio Management Services (PMS)
- Access to Alternative Investment Funds (AIFs)
- Asset allocation and risk monitoring
- Estate and succession planning coordination
- Family office and intergenerational wealth services
- Banking, lending and liquidity solutions
However, not every provider offers every service directly. Some act as investment distributors, some provide regulated investment advice through separate entities, while others manage portfolios or coordinate services through partner institutions. Understanding this distinction is essential when evaluating the Top 10 private wealth management firms in India.
How We Evaluated Private Wealth Management Firms in India
The comparison considers five practical factors rather than relying on brand popularity alone.
| Evaluation factor | What it tells an investor |
| Business and regulatory model | Whether the provider is an adviser, distributor, portfolio manager, bank or family office |
| Investment capabilities | Access to mutual funds, PMS, AIFs, fixed income and other investments |
| Fee transparency | How advisory, distribution, management and performance fees are charged |
| Reporting and risk management | How portfolios, costs, performance and risks are monitored |
| HNI/UHNI experience | Ability to address complex portfolios, business interests and family requirements |
The Top 10 private wealth management firms in India listed below have been selected to represent different approaches to wealth management. Their reported figures are included where available, with dates and measurement differences clearly identified.
Top 10 Private Wealth Management Firms in India (2026)
1. 360 ONE WAM
Business model: Integrated wealth management and alternative investment platform</text>
360 ONE WAM, formerly IIFL Wealth, focuses on HNI and UHNI clients, business families and institutional relationships. Its services cover wealth management, investment solutions and family-office requirements.
The company's official website reported group AUM of approximately ₹8,99,481 crore and more than 9,000 HNI/UHNI families and corporates served. These are group-level figures and should not be interpreted as the AUM of one private wealth product or division.
Key areas:
- Wealth planning and portfolio solutions
- Access to PMS and AIF opportunities
- Family office and succession-related support
- Investment and alternative asset solutions
For investors comparing the Top 10 private wealth management firms in India, 360 ONE is relevant when a broad wealth platform and access to alternative investments are priorities.
2. Kotak Private Banking
Business model: Bank-led private banking with investment and family wealth services</text>
Kotak Private Banking serves HNIs, UHNIs, entrepreneurs, professionals and business families. Its offering combines banking relationships with investment distribution, lending, wealth structuring and family-related services.
Kotak reported a relationship value of approximately ₹12.70 lakh crore for Private Banking and Solitaire as of June 30, 2026. This is a relationship-value measure, not a standalone private wealth AUM figure.
Its services operate through different group entities. For example, investment distribution and advisory-related activities may sit with separate Kotak entities, while estate planning and other services may involve specialist group companies.
Key areas:
- Private banking and credit facilities
- Investment distribution and wealth solutions
- Family wealth and estate planning coordination
- Business-owner and entrepreneur requirements
The Top 10 private wealth management firms in India comparison includes Kotak for its integrated banking and wealth ecosystem. Investors should still identify which legal entity is responsible for each service.
3. ICICI Bank Private Banking
Business model: Bank-led private banking and investment distribution</text>
ICICI Bank Private Banking provides banking and investment access to affluent clients. Its offering includes investment products, relationship management and solutions designed around client requirements.
One important distinction is that ICICI Bank states that its private banking investment products and services are provided on an execution-only basis. This means investors should not automatically interpret the relationship as personalised investment advice.
Key areas:
- Private banking and relationship management
- Investment product access
- Banking and liquidity solutions
- Investment views and product information
Among the Top 10 private wealth management firms in India, ICICI is worth considering for clients who value a banking-led relationship. Investors seeking independent investment advice should clarify whether a separate registered advisory service is involved.
4. ASK Private Wealth and ASK Investment Managers
Business model: Wealth advisory, family office services and specialist investment management</text>
ASK operates through distinct businesses. ASK Private Wealth focuses on UHNI wealth advisory and family office services, while ASK Investment Managers is known for discretionary equity PMS strategies.
ASK Investment Managers reported ₹13,500 crore-plus AUM as of July 2026, along with more than 14,500 clients. This figure relates to its investment management business, not necessarily the entire ASK group's wealth operations.
Key areas:
- Discretionary equity PMS
- Wealth advisory and portfolio planning
- Family office and intergenerational wealth support
- Estate and tax planning coordination
The Top 10 private wealth management firms in India list includes ASK because it combines specialist investment management with a separate private wealth proposition. Investors should check which ASK entity is offering the service and what agreement governs it.
5. Dezerv
Business model: Technology-enabled wealth platform and investment products</text>
Dezerv uses technology, portfolio analysis and investment products to serve affluent investors. Its Wealth Monitor helps users assess mutual fund portfolios, including diversification, risk exposure and fund performance.
Its business structure is important. Dezerv Investments Pvt Ltd offers PMS and manages a Category I Angel Fund, while mutual fund portfolio services are offered through Dezerv Distribution Services Pvt Ltd.
Published product thresholds include ₹50,000 for its IPA mutual fund portfolio and ₹50 lakh for PMS.
Key areas:
- Mutual fund portfolio analysis
- Wealth monitoring tools
- PMS and alternative investment access
- Technology-led portfolio tracking
For the Top 10 private wealth management firms in India, Dezerv represents a technology-led model. Investors should distinguish between portfolio analytics, distribution and regulated portfolio management before choosing a service.
6. Julius Baer Wealth Advisors (India)
Business model: International boutique private banking</text>
Julius Baer is an international wealth management group with a presence in India. Its private banking proposition focuses on HNI and UHNI clients who may require investment services, wealth planning and a global perspective.
Key areas:
- Wealth planning
- Investment services
- Private banking relationships
- Support for complex wealth requirements
Julius Baer is a relevant name among the Top 10 private wealth management firms in India for investors who value an international private banking platform. Its suitability depends on the client's needs, eligibility, service scope and the specific products available through its Indian operations.
7. Motilal Oswal Private Wealth
Business model: Research-led wealth management and investment solutions</text>
Motilal Oswal Private Wealth combines investment research, portfolio solutions and wealth planning for HNI and UHNI clients.
The company reported ₹1,95,541 crore in AUM as of December 31, 2025, with more than 410 wealth managers and over 8,200 HNI/UHNI customers. Its offering also extends to family and business-related requirements such as estate planning, governance, philanthropy and funding solutions.
Key areas:
- Investment research and portfolio solutions
- Mutual funds and PMS access
- Family wealth planning
- Business and liquidity-related solutions
The Top 10 private wealth management firms in India include Motilal Oswal for its research-led approach and range of wealth solutions. Investors should examine the actual portfolio strategy, fee structure and service entity rather than relying only on group-level research capabilities.
8. Anand Rathi Wealth
Business model: Structured wealth management and relationship-led planning</text>
Anand Rathi Wealth follows a structured approach to managing client investments. Its proposition focuses on helping affluent families organise their financial assets through planning, investment solutions and ongoing relationship management.
As of September 30, 2026, the company reported:
| Metric | Reported figure |
| AUM | ₹1,08,377 crore-plus |
| Relationship managers | 431-plus |
| Client families | 14,309-plus |
Key areas:
- Investment planning and portfolio reviews
- Mutual fund-based wealth solutions
- Relationship-led client servicing
- Structured financial planning
Within the Top 10 private wealth management firms in India, Anand Rathi is an option for investors who prefer an organised relationship-management model. Its AUM figure should be read with the reporting date in mind.
9. Entrust Family Office
Business model: Independent family office and wealth coordination</text>
Entrust focuses on investment management, family wealth planning and multi-generational requirements. Its service structure is designed for families with different levels of wealth and complexity.
Its published engagement categories include:
| Service model | Indicative portfolio or asset base |
| Personal Investment Management | ₹10 crore–₹50 crore |
| Multi-family office | Above ₹50 crore |
| Single-family office | ₹2,000 crore or above |
These are Entrust's stated engagement categories, not universal minimums for family office services in India.
Key areas:
- Investment and risk management
- Family CFO and business advisory support
- Estate, legacy and succession planning
- Real estate and family governance coordination
The Top 10 private wealth management firms in India list includes Entrust for its family-office focus. Families considering this model should understand the scope of the mandate, fee arrangement and any third-party relationships.
10. HDFC Bank Wealth and Axis Burgundy Private
Business model: Bank-led affluent and private wealth services</text>
HDFC Bank Wealth and Axis Burgundy Private offer banking-led wealth propositions for affluent and HNI clients. Both combine relationship management with banking services and access to investment-related solutions.
HDFC Bank Wealth reported ₹5.68 lakh crore in AUM as of June 2025, serving more than 83,500 households through a network of over 1,000 sales and service experts across 923 locations. This is a dated company-reported figure.
Axis Burgundy Private provides customised wealth solutions, family office support and banking services. Its published eligibility criteria include a ₹5 crore Total Relationship Value (TRV) requirement for a specified savings-account relationship route. TRV is not the same as a minimum investment in a single product.
Key areas:
- Banking and relationship management
- Investment product access
- Family office and wealth planning support
- Credit, deposits and liquidity solutions
This combined entry completes the Top 10 private wealth management firms in India shortlist by including two established bank-led propositions. Their eligibility criteria and service arrangements should be checked separately.
What Services Do Private Wealth Management Firms Offer?
The Top 10 private wealth management firms in India do not all provide the same range of services. Some focus on investment distribution, while others offer advisory, discretionary portfolio management or family office coordination.
Investment Planning and Portfolio Management
A wealth manager may review existing investments, understand financial goals and recommend an asset allocation approach. This can involve equity, debt, mutual funds, deposits, gold and other permitted investments.
Investors should ask whether recommendations are personalised advice, model portfolios or product distribution. The distinction affects fees, responsibility and potential conflicts.
Access to PMS, AIFs and Other Investment Products
Some wealth management companies in India provide access to specialist investment products, including PMS and AIFs. These products have different structures, risks, costs and regulatory requirements.
- PMS: A portfolio manager manages a client's portfolio under a specific mandate.
- AIF: A privately pooled investment vehicle that follows a defined investment strategy.
- Mutual funds: Pooled investment products regulated under the mutual fund framework.
- Fixed income: Products such as bonds and other debt instruments, subject to issuer and market risk.
The Top 10 private wealth management firms in India may distribute or facilitate access to these products, but the product manager and distributor are not necessarily the same entity.
Tax Planning, Estate Planning and Wealth Transfer
Wealth managers may coordinate with tax professionals, lawyers and trustees to help clients plan asset transfers, succession and estate arrangements. Tax advice and legal execution may be provided by separate professionals.
Family Office and Multi-Generational Wealth Services
Family office services in India can include consolidated reporting, family governance, succession planning, philanthropy, business interests and coordination among advisers. The scope varies significantly between providers.
Private Wealth Management Fees in India
There is no single standard fee for all wealth management services. Charges depend on the service model, portfolio size, products selected and the provider's role.
When comparing the Top 10 private wealth management firms in India, ask for a written breakdown of every direct and indirect cost.
Fee-Only vs Commission-Based Wealth Management
| Model | How it works | What to examine |
| Fee-only advice | Client pays an agreed advisory fee | Scope, frequency and fee calculation |
| Commission-based distribution | Provider receives commission from product manufacturers | Commission disclosure and product suitability |
| Combined arrangement | Advisory and distribution costs may both apply | Written disclosure and consent |
A fee-based relationship is not automatically conflict-free. Investors should understand whether the provider receives commissions, referral income or other compensation from products recommended.
AUM-Based, Fixed and Other Fee Structures
Common structures include:
- AUM-based fee: A percentage of assets managed or advised.
- Fixed fee: A predetermined amount for an agreed service.
- Performance fee: A charge linked to investment performance, where permitted and contractually applicable.
- Product-level costs: Expense ratios, transaction charges, brokerage, taxes and other product expenses.
For SEBI-registered Investment Advisers serving individual and HUF clients, the applicable fee framework includes a fixed-fee ceiling of ₹1,51,000 per family per year or an AUA-based ceiling of 2.5% per annum, subject to SEBI's rules and conditions. These limits do not apply universally to every wealth management service, non-individual client or accredited investor.
Read the SEBI Master Circular for Investment Advisers and the SEBI circular on Most Important Terms and Conditions for Investment Advisers.
What to Check Before Agreeing to Fees
Before selecting any of the Top 10 private wealth management firms in India, request a written schedule covering:
- Advisory or management fees
- Distribution commissions and referral income
- PMS or AIF management and performance fees
- Mutual fund expense ratios
- Brokerage and transaction charges
- Exit loads, lock-ins and withdrawal conditions
- GST and other applicable statutory charges
Compare the total cost of ownership, not just the headline advisory fee.
What Is the Minimum Investment for Private Wealth Management in India?
There is no universal minimum investment for private wealth management. A provider may accept clients for mutual fund distribution at a relatively low threshold, while a dedicated family office relationship may require a substantially larger asset base.
| Service or product | Indicative threshold |
| PMS | ₹50 lakh under SEBI's standard minimum |
| AIF | Generally ₹1 crore per investor, subject to applicable exceptions |
| Dezerv IPA mutual fund portfolio | ₹50,000 |
| Dezerv PMS | ₹50 lakh |
| Entrust Personal Investment Management | ₹10 crore–₹50 crore portfolio category |
| Entrust Multi-family office | Above ₹50 crore portfolio category |
| Entrust Single-family office | Asset base of ₹2,000 crore or above |
The Top 10 private wealth management firms in India have different onboarding criteria. Some assess investible assets, others consider total relationship value, and family offices may evaluate the complexity of the family's financial affairs.
For regulatory details, refer to SEBI's Portfolio Management Services investor information and the Alternative Investment Funds Regulations.
Private Banking vs Wealth Management: What Is the Difference?
Private banking and wealth management can overlap, but they are not interchangeable.
| Parameter | Private banking | Wealth management |
| Core focus | Banking relationship and financial services | Investment planning and wealth coordination |
| Typical services | Deposits, credit, banking, remittances | Asset allocation, investments, portfolio reviews |
| Investment advice | Depends on the bank and service entity | Depends on the provider's regulatory status |
| Lending | Often a major component | May be arranged through partner institutions |
| Family office support | Available with selected offerings | Available with specialist wealth providers |
The Top 10 private wealth management firms in India include both private banks and non-bank wealth specialists. A private banking relationship may be suitable when banking, credit and investments need to be coordinated. An independent wealth manager may be more appropriate when the priority is a broader investment review.
Wealth Management vs PMS vs AIF: Key Differences
| Parameter | Wealth management | PMS | AIF |
| Nature | Broad financial and investment service | Managed investment portfolio | Pooled investment fund |
| Portfolio ownership | Depends on product and arrangement | Client-specific portfolio | Investor holds units in a fund |
| Strategy | Can cover multiple asset classes | Defined portfolio mandate | Defined fund strategy |
| Regulation | Depends on the activity and entity | SEBI portfolio manager framework | SEBI AIF framework |
| Standard minimum | Provider-specific | ₹50 lakh | Generally ₹1 crore |
| Main consideration | Advice, costs and conflicts | Concentration, fees and manager skill | Liquidity, lock-in and strategy risk |
Wealth management is the broader service relationship. PMS and AIFs are investment structures that may form part of a client's portfolio. They are not substitutes for a complete financial plan. They are not substitutes for a complete financial plan.
Investors comparing these options can also read ALTPORT's comparison of PMS investment opportunities and its guide to Alternative Investment Funds.
How to Choose a Private Wealth Management Firm in India
A strong brand name does not guarantee that a provider is suitable for every investor. Use the following checks before making a decision.
1. Verify the Regulatory Status
Check the relevant SEBI registration where the service requires it. An investment adviser, portfolio manager and AIF manager perform different regulated activities. A bank or distributor may also provide services through separate group entities.
2. Understand the Actual Service Model
Ask whether the provider is advising, managing, distributing or merely facilitating access to investments. The Top 10 private wealth management firms in India operate through different legal and commercial structures, so the entity named in the agreement matters.
3. Compare Total Fees
Request a complete cost illustration. Include advisory charges, commissions, product expenses, transaction costs and performance-linked fees.
4. Examine Investment Philosophy
Understand how the provider builds portfolios, manages risk, handles concentration and responds to market volatility. Ask for an explanation of the investment process rather than relying only on past returns.
5. Review Reporting and Access
Check how frequently you receive portfolio reports, who handles queries and whether you can access consolidated information across investments.
6. Assess Conflict Management
Ask how the provider handles commissions, related-party products, referrals and incentives. The Top 10 private wealth management firms in India should be evaluated on the clarity of their disclosures, not just the breadth of their product shelf.
Questions to Ask Before Hiring a Wealth Management Firm
Use these questions during the initial discussion:
- Which legal entity will provide the service?
- Is the service advisory, distribution or discretionary portfolio management?
- What regulatory registration applies?
- How are you compensated?
- Do you receive commissions or referral income?
- What is the minimum investment or relationship value?
- Which products are available, and which are recommended?
- How are portfolio performance and risk reported?
- What happens if I want to transfer or exit my investments?
- Who is responsible for tax, legal and estate-planning advice?
The answers can help narrow the Top 10 private wealth management firms in India to providers whose service model, costs and accountability match your requirements.
How ALTPORT's Investment Distribution Model Works
ALTPORT provides an investment distribution platform through which investors can explore investment opportunities and access relevant product information. Its role should be understood in the context of the specific product and service being offered.
For investors comparing the Top 10 private wealth management firms in India, it is useful to distinguish an investment distribution platform from a discretionary portfolio manager or a SEBI-registered Investment Adviser. These roles involve different responsibilities, agreements and regulatory requirements.
ALTPORT's investment research process covers investment manager style, portfolio quality and performance consistency. Investors can explore its PMS investment opportunities and AIF investment opportunities to understand the product categories available on the platform.
Before investing through any platform, review the product documents, applicable risk disclosures, costs, eligibility conditions and the identity of the regulated product provider. Investors should make decisions based on their own financial objectives and risk tolerance.
Disclaimer
This article is for informational and educational purposes only. It is not investment advice, a recommendation to select any particular wealth management firm, or an offer to invest in any financial product. The firms listed are an illustrative market shortlist and are not ranked by investment performance or service quality. Services, eligibility criteria, fees and regulatory status may change. Investors should independently verify the relevant legal entity, registration, service agreement, fee disclosures and product documents before making a decision. Investments in securities and alternative products carry market, liquidity and other risks.