Understanding Wealth Management in India
Wealth management in India has evolved significantly over the past two decades, transforming from traditional savings methods to sophisticated investment strategies that cater to the diverse financial needs of Indian investors. With the country's growing economy, rising disposable income, and increasing financial literacy, wealth management has become more accessible and crucial for individuals across all income segments.
The Indian wealth management landscape is characterized by unique challenges and opportunities that distinguish it from global markets. From navigating complex tax structures to understanding cultural preferences for gold and real estate, successful wealth management in India requires a deep understanding of local dynamics combined with global best practices.
The Evolution of Wealth Management in India
Historically, Indians have been conservative savers, preferring fixed deposits, gold, and real estate as primary investment vehicles. However, the introduction of mutual funds, systematic investment plans (SIPs), and digital investment platforms has revolutionized how Indians approach wealth building. The mutual fund industry has grown from ₹6.5 trillion in assets under management (AUM) in 2014 to over ₹46 trillion in 2024, reflecting the changing investment preferences of Indian households.
The digitization of financial services has played a pivotal role in democratizing wealth management. Platforms like Zerodha, Groww, and Paytm Money have made it easier for retail investors to access equity markets, while robo-advisors and AI-powered investment platforms are providing personalized investment advice at scale.
Current Market Landscape
India's wealth management market is valued at approximately $3 billion and is expected to grow at a compound annual growth rate (CAGR) of 20-25% over the next five years. This growth is driven by several factors including rising income levels, increasing awareness about financial planning, demographic dividend with a young population, and supportive government policies promoting financial inclusion.
The high-net-worth individual (HNI) segment in India has grown substantially, with the country home to over 372,000 millionaires and 166 billionaires as of 2024. This affluent population requires sophisticated wealth management services including portfolio management, tax optimization, estate planning, and alternative investment opportunities.
Key Challenges in Indian Wealth Management
Despite the growth opportunities, wealth management in India faces several challenges. Inflation consistently outpacing fixed deposit returns has made it essential for investors to explore equity and equity-linked instruments. The complex tax structure with different treatment for short-term and long-term capital gains, dividend distribution tax implications, and frequent policy changes require continuous monitoring and adjustment of investment strategies.
Market volatility remains a concern for conservative Indian investors who are accustomed to guaranteed returns. The psychological barrier of equity investment, stemming from past market crashes and lack of financial education, continues to limit participation in wealth-creating instruments.
Regulatory Framework
The Securities and Exchange Board of India (SEBI) serves as the primary regulator for wealth management services, ensuring investor protection and market integrity. Recent regulations have focused on enhancing transparency in mutual fund operations, standardizing portfolio management services, and promoting investor education.
The Insurance Regulatory and Development Authority of India (IRDAI) oversees insurance products that form a crucial component of wealth management portfolios. The integration of insurance with investment through Unit Linked Insurance Plans (ULIPs) and the recent introduction of pure-play insurance products have provided more options for comprehensive financial planning.
Investment Strategies for Indian Markets
Asset Allocation Frameworks
Asset allocation forms the cornerstone of successful wealth management, and in the Indian context, it requires careful consideration of domestic and international exposure, risk tolerance, and investment horizon. The traditional 60-40 equity-debt allocation may not be suitable for all Indian investors, given the unique characteristics of Indian markets and individual financial goals.
For young professionals in their 20s and 30s, an aggressive allocation of 70-80% in equity instruments through mutual funds, direct equity investment, and Employee Provident Fund (EPF) contributions can help build substantial wealth over time. The power of compounding becomes particularly evident with systematic investment plans (SIPs) starting early in one's career.
Middle-aged investors approaching their peak earning years should adopt a balanced approach with 50-60% equity exposure while gradually increasing debt allocation for stability. This demographic often has significant financial responsibilities including home loans, children's education, and parents' healthcare, requiring a more conservative yet growth-oriented strategy.
Pre-retirement and retirement portfolios should prioritize capital preservation with 20-30% equity exposure for inflation protection and 70-80% in debt instruments including government bonds, corporate bonds, and fixed deposits. The focus shifts from wealth accumulation to wealth preservation and regular income generation.
Equity Investment Strategies
Direct equity investment in Indian markets offers significant wealth creation potential but requires thorough research and market understanding. Value investing, following the principles of Benjamin Graham and Warren Buffett, has proven successful in Indian markets with companies like Asian Paints, HDFC Bank, and Infosys delivering multi-bagger returns over the long term.
Growth investing focuses on companies with strong earnings growth potential, particularly in sectors like technology, pharmaceuticals, and consumer goods that benefit from India's demographic dividend and digitization trends. Companies like TCS, Dr. Reddy's, and Hindustan Unilever have consistently delivered superior returns through their growth strategies.
Dividend investing appeals to conservative investors seeking regular income while participating in equity markets. Companies with consistent dividend payment history like Coal India, ONGC, and ITC provide steady cash flows while offering capital appreciation potential.
Momentum investing involves buying stocks that have shown strong performance and selling those that have underperformed. This strategy requires active monitoring and quick decision-making but can be profitable in trending markets.
Mutual Fund Investment Approaches
Systematic Investment Plans (SIPs) have revolutionized mutual fund investing in India, making it accessible to investors with modest means while leveraging the power of rupee-cost averaging. SIPs help mitigate market volatility by investing fixed amounts regularly, regardless of market conditions.
Large-cap mutual funds provide stability and consistent returns by investing in established companies with strong market positions. These funds are suitable for conservative investors seeking equity exposure with lower volatility compared to mid-cap and small-cap funds.
Mid-cap and small-cap funds offer higher growth potential but come with increased volatility and risk. These funds are suitable for investors with higher risk tolerance and longer investment horizons who can weather market fluctuations for potentially higher returns.
Sectoral and thematic funds allow investors to capitalize on specific economic trends or sectors. Technology funds, pharmaceutical funds, and infrastructure funds have performed well during favorable market conditions but require careful timing and sector analysis.
International mutual funds provide geographical diversification by investing in global markets. With the Reserve Bank of India (RBI) allowing individuals to invest up to $250,000 annually under the Liberalized Remittance Scheme (LRS), international diversification has become more accessible to Indian investors.
Fixed Income Strategies
Government securities form the safest component of fixed income portfolios, offering sovereign guarantee and inflation-adjusted returns through instruments like Inflation Indexed Bonds (IIBs). The recent introduction of Floating Rate Savings Bonds provides protection against interest rate risk while ensuring regular income.
Corporate bonds offer higher yields than government securities but require credit analysis and risk assessment. Investment-grade corporate bonds from companies like Tata, Reliance, and L&T provide attractive risk-adjusted returns for conservative investors.
Tax-free bonds issued by government entities like IRFC, NHAI, and PFC offer tax-efficient income generation for investors in higher tax brackets. These bonds typically offer 15-20 year tenures with interest rates ranging from 4-6% annually.
Bank fixed deposits, though offering lower returns, provide capital protection and liquidity. Laddering fixed deposits with different maturity periods helps manage interest rate risk while ensuring regular cash flows.
Alternative Investment Options
Real Estate Investment Trusts (REITs) have opened commercial real estate investment to retail investors, providing exposure to income-generating properties without the challenges of direct real estate ownership. Embassy Office Parks and Mindspace Business Parks REITs have delivered steady returns while offering quarterly distributions.
Gold investment through Exchange Traded Funds (ETFs), Gold Mutual Funds, and Sovereign Gold Bonds provides portfolio diversification and inflation hedge. Gold has cultural significance in India and serves as a store of value during economic uncertainty.
Commodity trading through Multi Commodity Exchange (MCX) allows investors to participate in agricultural commodities, precious metals, and energy markets. This requires specialized knowledge but can provide portfolio diversification and inflation protection.
Cryptocurrency investment, though in regulatory grey area, has gained popularity among tech-savvy investors. Bitcoin, Ethereum, and other digital assets offer high return potential but come with significant volatility and regulatory risks.
Essential Tools and Resources for Wealth Management
Investment Platforms and Applications
Modern wealth management in India has been transformed by digital platforms that provide comprehensive investment services at competitive costs. Zerodha, India's largest discount broker, has revolutionized equity trading with its user-friendly Kite platform, offering advanced charting tools, research reports, and educational resources.
Groww has simplified mutual fund investing with its intuitive interface and comprehensive fund research tools. The platform provides detailed fund analysis, performance comparisons, and goal-based investment recommendations suitable for both beginners and experienced investors.
Paytm Money integrates investment services with digital payment infrastructure, making it convenient for users to invest directly from their digital wallets. The platform offers equity trading, mutual fund investment, and goal-based financial planning tools.
Upstox provides professional-grade trading tools including advanced charts, technical analysis indicators, and research reports. The platform caters to active traders and investors seeking sophisticated analytical capabilities.
ETMoney offers comprehensive financial planning services including expense tracking, investment management, and insurance planning. The platform's goal-based investment approach helps users plan for specific financial objectives like home purchase, children's education, and retirement.
Research and Analysis Tools
Screener.in provides comprehensive fundamental analysis tools for equity research, offering detailed financial data, ratio analysis, and peer comparison features. The platform helps investors identify undervalued stocks and analyze company fundamentals before making investment decisions.
Moneycontrol serves as India's leading financial information portal, providing real-time market data, news, analysis, and portfolio tracking services. The platform's extensive research reports and expert opinions help investors make informed decisions.
Economic Times Markets offers comprehensive market coverage with detailed analysis of sectoral trends, company earnings, and economic indicators. The platform's mobile application provides real-time alerts and market updates.
Investing.com provides global market data, technical analysis tools, and economic calendars essential for tracking international markets and economic events that impact Indian markets.
TradingView offers advanced charting capabilities with extensive technical indicators, drawing tools, and community-driven analysis. The platform supports multiple asset classes including stocks, commodities, currencies, and cryptocurrencies.
Financial Planning Software
PersonalFN provides comprehensive financial planning services including retirement planning calculators, tax planning tools, and investment advisory services. The platform offers personalized recommendations based on individual financial situations and goals.
Fisdom combines investment management with financial planning, offering goal-based investment strategies and automated portfolio rebalancing. The platform's AI-driven recommendations help optimize investment allocations based on market conditions and personal objectives.
Piggy by NDTV offers systematic savings and investment solutions with automated features for goal-based investing. The platform emphasizes disciplined investing through systematic investment plans and recurring deposits.
ICICI Prudential iInvest provides comprehensive investment and insurance solutions with integrated financial planning tools. The platform offers retirement planning, children's education planning, and wealth accumulation strategies.
Tax Planning and Optimization Tools
ClearTax simplifies income tax filing with user-friendly interfaces and comprehensive tax optimization suggestions. The platform provides detailed analysis of tax-saving investments under Section 80C, 80D, and other relevant provisions.
QuickBooks assists with expense tracking and tax preparation for business owners and freelancers. The software integrates with bank accounts and provides automated categorization of expenses for tax planning purposes.
TaxGuru provides comprehensive tax information, updates on policy changes, and detailed analysis of tax implications for different investment decisions. The platform serves as an essential resource for staying updated on evolving tax regulations.
H&R Block offers professional tax preparation services with specialized expertise in complex tax situations including capital gains optimization, international taxation, and business tax planning.
Portfolio Management and Tracking
Portfolio management requires consistent monitoring and periodic rebalancing to maintain optimal asset allocation. Google Sheets and Microsoft Excel remain popular choices for creating customized portfolio tracking systems with real-time data integration through APIs.
MyCAMS provides consolidated account statements for mutual fund investments across different fund houses, simplifying portfolio monitoring and tax calculation. The platform offers detailed transaction history and capital gains analysis.
CAMS Investor Services offers comprehensive portfolio analytics including performance attribution, risk analysis, and benchmark comparison. The platform helps investors understand their portfolio's risk-return characteristics and identify optimization opportunities.
Karvy Investor Services provides integrated portfolio management services including equity and mutual fund tracking, dividend monitoring, and corporate action updates. The platform offers detailed performance analysis and tax reporting features.
Educational Resources and Market Research
Zerodha Varsity offers comprehensive financial education covering topics from basic investing concepts to advanced trading strategies. The platform's structured curriculum includes modules on fundamental analysis, technical analysis, and options trading.
NSE Academy provides professional certification courses in financial markets, including modules on equity research, derivatives trading, and portfolio management. The academy's programs are recognized by industry professionals and regulatory bodies.
BSE Institute offers specialized training programs in capital markets, mutual funds, and investment advisory services. The institute's courses help professionals develop expertise in wealth management and financial planning.
NISM (National Institute of Securities Markets) provides standardized certification programs required for financial market professionals. The institute's research publications offer insights into market trends and regulatory developments.
CFA Institute India provides resources for Chartered Financial Analyst certification and continuing education programs for investment professionals. The institute's research and advocacy efforts contribute to the development of Indian capital markets.
Comprehensive Financial Planning Strategies
Goal-Based Financial Planning
Goal-based financial planning represents a paradigm shift from traditional investment approaches, focusing on specific life objectives rather than abstract return targets. This methodology aligns investment strategies with personal aspirations, making financial planning more meaningful and achievable for Indian families.
Short-term goals typically include emergency fund creation, vacation planning, consumer durables purchase, and debt repayment. These goals require high liquidity and capital protection, making bank savings accounts, liquid mutual funds, and short-term fixed deposits ideal investment vehicles.
Medium-term goals encompass major purchases like home down payments, vehicle acquisition, children's higher education, and wedding expenses. These objectives require a balanced approach with 40-60% equity exposure through balanced mutual funds, systematic investment plans, and recurring deposits.
Long-term goals primarily focus on retirement planning, children's education and marriage, and wealth transfer to next generation. These goals benefit from aggressive equity allocation through equity mutual funds, direct stock investment, and equity-linked insurance plans that leverage the power of compounding over extended periods.
Retirement Planning in India
Retirement planning in India faces unique challenges including increasing life expectancy, rising healthcare costs, weakening joint family systems, and inflation eroding purchasing power. The average Indian retirement age of 60 years, combined with life expectancy approaching 70 years, creates a decade-long retirement period requiring substantial financial preparation.
The Employee Provident Fund (EPF) serves as the primary retirement savings vehicle for salaried employees, currently offering 8.5% annual returns with tax benefits under Section 80C. However, EPF alone is insufficient for maintaining pre-retirement lifestyle, necessitating additional retirement savings through voluntary contributions to Employee Pension Scheme (EPS) and private retirement accounts.
National Pension System (NPS) provides market-linked retirement savings with professional fund management and tax benefits. The system offers multiple asset allocation options including conservative, moderate, and aggressive strategies based on individual risk tolerance and retirement timeline.
Private retirement planning should target replacement of 70-80% of pre-retirement income through systematic investments in equity and debt instruments. The rule of thumb suggests maintaining 25-30 times annual expenses as retirement corpus, though this may vary based on inflation expectations and desired retirement lifestyle.
Post-retirement income generation requires shift from accumulation to distribution phase, emphasizing capital preservation and regular cash flows. Conservative asset allocation with 20-30% equity exposure helps maintain purchasing power while generating steady income through dividends, bond interest, and systematic withdrawal plans.
Tax Planning and Optimization
Tax planning in India requires understanding multiple investment options under different sections of the Income Tax Act. Section 80C provides deduction up to ₹1.5 lakh annually for investments in EPF, PPF, ELSS mutual funds, life insurance premiums, and principal repayment of home loans.
Section 80D allows additional deduction up to ₹25,000 for health insurance premiums for self and family, with an additional ₹25,000 for parents' health insurance. This section encourages comprehensive health coverage while providing tax benefits.
Section 24B permits deduction of home loan interest up to ₹2 lakh annually for self-occupied property, making home ownership attractive from tax perspective. Additional tax benefits under Section 80EE and 80EEA provide further deductions for first-time home buyers.
Capital gains taxation requires careful planning to minimize tax liability. Long-term capital gains on equity investments exceeding ₹1 lakh annually are taxed at 10% without indexation benefit, while debt investments enjoy indexation benefits but higher tax rates.
Tax-efficient investing involves optimizing asset location by holding tax-efficient investments in taxable accounts while placing tax-inefficient investments in tax-deferred accounts like EPF and PPF. This strategy maximizes after-tax returns and minimizes overall tax burden.
Estate Planning and Wealth Transfer
Estate planning remains underdeveloped in India despite growing wealth and complex family structures. Proper estate planning ensures smooth wealth transfer to beneficiaries while minimizing tax implications and family disputes.
Will preparation forms the foundation of estate planning, providing clear instructions for asset distribution after death. Indian succession laws vary based on religion and domicile, making professional legal advice essential for comprehensive estate planning.
Trust structures offer sophisticated wealth transfer mechanisms with tax optimization benefits. Family trusts, charitable trusts, and specific purpose trusts provide flexibility in asset management and distribution while achieving estate planning objectives.
Life insurance serves dual purposes of income replacement and estate planning. Term life insurance provides affordable death benefit coverage, while whole life and endowment policies combine insurance protection with investment accumulation.
Nomination and beneficiary designation across all financial accounts and investments ensures direct asset transfer without probate complications. Regular updates to nominations following major life events like marriage, divorce, and childbirth maintain estate plan effectiveness.
Risk Management and Insurance Planning
Risk management forms the protective foundation of wealth management, safeguarding accumulated assets from unforeseen events. Comprehensive insurance coverage protects against premature death, disability, critical illness, and property damage that could derail financial plans.
Term life insurance provides the highest death benefit coverage at lowest premium costs, making it essential for income earners with financial dependents. Coverage should typically equal 10-15 times annual income to provide adequate income replacement for surviving family members.
Health insurance has become critical given rising healthcare costs and increasing incidence of lifestyle diseases. Comprehensive coverage including hospitalization, pre and post-hospitalization expenses, daycare procedures, and critical illness benefits provides financial protection against medical emergencies.
Disability insurance protects against income loss due to temporary or permanent disability. While group coverage through employers provides basic protection, individual disability insurance ensures comprehensive coverage continuation regardless of employment status.
Property insurance protects valuable assets like homes, vehicles, and personal belongings from theft, damage, and natural disasters. Comprehensive coverage with adequate sum insured prevents financial setbacks from property-related losses.
Investment in Children's Education
Education costs in India have grown significantly faster than general inflation, making systematic education planning essential for parents. Quality higher education including professional courses like engineering, medicine, and management can cost ₹25-50 lakh or more, requiring early and aggressive savings.
Education savings should begin immediately after child birth to leverage maximum compounding benefits. Systematic investment plans in equity mutual funds provide the best wealth creation potential for education funding with investment horizons exceeding 10-15 years.
Child education plans offered by insurance companies combine life insurance coverage with investment accumulation. These plans provide death benefit protection for parents while ensuring education fund availability regardless of family circumstances.
International education funding requires additional considerations including currency exchange rates, overseas education loans, and higher funding requirements. Education loans up to ₹10 lakh are available without collateral, while higher amounts require security and co-borrower arrangements.
Education savings should consider inflation in education costs, which typically exceeds general inflation by 2-3% annually. Conservative estimates suggest education costs doubling every 7-8 years, requiring aggressive savings and investment strategies.
Debt Management and Leverage Optimization
Debt management plays a crucial role in overall wealth building strategy. Good debt like home loans and education loans provide tax benefits and wealth creation opportunities, while bad debt like credit card balances and personal loans erode wealth through high interest costs.
Home loan management involves optimizing between prepayment and investment opportunities. When investment returns exceed home loan interest rates, maintaining the loan while investing surplus funds can enhance overall wealth creation.
Credit card debt represents the most expensive form of consumer debt with interest rates exceeding 35-40% annually. Immediate repayment of credit card balances should take priority over all other investments due to guaranteed high-interest savings.
Personal loan consolidation can reduce overall interest burden by combining multiple high-interest loans into single lower-interest loan. Balance transfer options for credit cards and personal loans provide opportunities for interest rate reduction.
Debt-to-income ratios should be maintained below 40% to ensure financial flexibility and stress-free debt management. Higher ratios indicate excessive leverage that could compromise financial stability during income disruptions.
Regular Portfolio Review and Rebalancing
Portfolio management requires regular monitoring and periodic adjustments to maintain optimal asset allocation and risk levels. Market movements cause portfolio drift from target allocation, necessitating rebalancing to restore desired risk-return characteristics.
Annual portfolio reviews should assess performance against benchmarks, evaluate goal progress, and identify necessary strategy adjustments. Major life events like job changes, marriage, childbirth, and inheritance may require significant portfolio modifications.
Rebalancing involves selling over-weighted assets and buying under-weighted assets to restore target allocation. This disciplined approach enforces buy-low-sell-high behavior while maintaining consistent risk levels across market cycles.
Tax-efficient rebalancing considers tax implications of asset sales and utilizes tax-loss harvesting opportunities to minimize overall tax burden. Strategic rebalancing timing around financial year-end can optimize tax outcomes.
Performance attribution analysis helps identify sources of portfolio returns and risks, enabling informed decisions about strategy modifications. Understanding whether returns result from asset allocation, security selection, or market timing guides future investment decisions.
Current Market Trends and Future Outlook
Digital Transformation in Wealth Management
The Indian wealth management industry is experiencing unprecedented digital transformation, driven by increasing smartphone penetration, improving internet connectivity, and changing consumer preferences. Digital-first platforms are capturing significant market share by offering user-friendly interfaces, lower costs, and 24/7 accessibility.
Robo-advisors are democratizing professional investment advice by providing algorithm-driven portfolio management at fraction of traditional advisory costs. These platforms use modern portfolio theory and behavioral finance principles to create personalized investment strategies for retail investors.
Artificial intelligence and machine learning are enhancing investment research, risk assessment, and customer service capabilities. AI-powered chatbots provide instant support, while machine learning algorithms analyze vast datasets to identify investment opportunities and market trends.
Blockchain technology is exploring applications in trade settlement, identity verification, and smart contracts for investment products. While still in early stages, blockchain promises to reduce settlement times, enhance transparency, and lower transaction costs.
Regulatory Developments and Their Impact
Recent regulatory changes are reshaping the wealth management landscape with focus on investor protection, transparency, and market development. SEBI's mutual fund reforms including total expense ratio rationalization, direct plan promotion, and risk-o-meter implementation are enhancing investor outcomes.
The introduction of Research Entity (RE) regulations provides independent research options for investors while addressing conflict of interest concerns in traditional research models. This development is expected to improve research quality and investor decision-making.
Investment Adviser regulations are professionalizing financial advice by establishing registration requirements, fiduciary standards, and disclosure norms. These measures are building investor confidence in professional advisory services.
The New Fund Offer (NFO) guidelines are restricting scheme proliferation while encouraging innovation in product design. Focus is shifting from scheme quantity to quality with emphasis on investor suitability and performance track records.
Emerging Investment Themes
Environmental, Social, and Governance (ESG) investing is gaining traction among Indian investors, driven by increasing awareness of sustainable development and corporate responsibility. ESG-focused mutual funds and portfolio management services are expanding rapidly.
Technology sector investment opportunities continue expanding with India's digital transformation, startup ecosystem growth, and government initiatives like Digital India. Fintech, edtech, healthtech, and e-commerce sectors offer significant wealth creation potential.
Infrastructure development presents long-term investment opportunities through government spending on roads, railways, airports, and smart cities. Infrastructure bonds, REITs, and sector-specific mutual funds provide exposure to this theme.
Healthcare sector prospects remain strong due to aging population, rising income levels, and increased health awareness post-pandemic. Pharmaceutical companies, hospital chains, and diagnostic services offer attractive investment opportunities.
Challenges and Risk Factors
Market volatility continues to challenge investor confidence, particularly among retail investors who lack experience in handling market downturns. Education and guidance are essential for maintaining long-term investment discipline during volatile periods.
Regulatory uncertainty in emerging areas like cryptocurrency, peer-to-peer lending, and alternative investment funds creates hesitation among investors and service providers. Clear regulatory frameworks are needed to facilitate innovation while protecting investors.
Cyber security risks are increasing with digitization of financial services. Data breaches, online fraud, and system failures can erode investor confidence and cause financial losses. Robust security measures and investor awareness are critical for maintaining trust.
Inflation remains a persistent concern that erodes purchasing power over time. Investment strategies must account for inflation expectations and focus on real return generation rather than nominal returns.
Future Outlook and Opportunities
India's demographic dividend with large young population entering prime earning years presents massive wealth management opportunities. This demographic is tech-savvy, ambitious, and willing to embrace new investment options for wealth creation.
Rising women workforce participation and increasing female financial independence are expanding the addressable market for wealth management services. Women-focused investment products and advisory services are emerging as significant growth areas.
Tier-2 and Tier-3 city wealth creation driven by digitization, entrepreneurship, and government initiatives is expanding beyond traditional metropolitan markets. Wealth management services are adapting to serve these emerging affluent segments.
International investment liberalization through increased LRS limits and new investment products will provide Indian investors greater global diversification opportunities. This trend will require sophisticated advisory services and cross-border expertise.
The integration of traditional and modern investment approaches, combining the stability of conventional instruments with the growth potential of new-age investments, will define successful wealth management strategies in the coming decade.