Hubbis Urges 10-Step Overhaul of India's Wealth Industry as RM Pay Jumps 60%
Updated
Updated · Hubbis · Aug 17
Hubbis Urges 10-Step Overhaul of India's Wealth Industry as RM Pay Jumps 60%
1 articles · Updated · Hubbis · Aug 17
Summary
A Hubbis paper says India’s private wealth boom is outstripping adviser capacity, with genuinely UHNW-capable advisers numbering only in the hundreds and client complaints centering on turnover, sales-driven behavior and weak capability.
Compensation pressure is intensifying the shortage: experienced relationship managers have seen pay rise about 60% in two years, with many firms still relying on poaching rather than building talent pipelines.
The paper argues India lacks a credible industry-wide framework—no dedicated private wealth certification, no meaningful CPD culture and baseline exams geared more to product distribution than holistic advice.
Its 10 recommendations include creating an industry professional body, launching a tiered certification ladder, adopting at least 15 hours of annual CPD and making in-house academies, academia partnerships and AI literacy core to adviser development.
Hubbis points to Singapore, Hong Kong and the UAE as models, arguing India could begin within 12 months with 15 to 20 firms backing voluntary standards before regulators formalize them.