By 5paisa 17 Mar 2025
Shriram Capital is leveraging its existing depositor base to launch a wealth management joint venture with Sanlam Group. CEO Subhasri Shriram sees this as a natural extension of their insurance business. Many of their customers already have investible surplus, making them potential clients for wealth products. This new venture targets underserved investors across India.
Shriram Capital plans to serve an underserved segment rather than compete directly with big players like 360 One and IIFL. The company aims to cater to those with investible wealth, whether it’s ₹6 lakh or ₹500 crore. They want to provide tailored wealth management solutions for customers beyond conventional classifications like HNIs and UHNIs.
Subhasri Shriram highlighted that a significant portion of their fixed depositors already possesses investible surplus. Many customers invest a part of their wealth with Shriram, indicating potential for wealth management. While they will leverage this existing base, the company also plans to build a fresh customer base for the new business.
Sanlam, with its extensive experience in wealth and asset management, sees India as a market with growing demand. Despite challenges like restrictions on global wealth management, Sanlam and Shriram aim to build a large wealth business. They predict India’s wealth management landscape will evolve significantly over the next 50 years.
The partnership between Shriram Capital and Sanlam is a long-term commitment. While they are not aiming to radically differentiate from competitors, they see ample room for growth in serving underserved investors. The companies envision a 100-year partnership, with a focus on building strong, lasting relationships with clients in India.
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