Finomenal: Day 2: Coffee, Cookies and Conversations Special Edition with Mr.

Aditya Gadge,
Founder of Priwexus

On 29th October 2017, Mr. Aditya Gadge interacted with students from PGDM (BKFS) where he started
by explaining what wealth management is. Wealth management includes investing, budgeting,
planning, resource allocation and how each family members needs are taken care of during this
process. The major difference between handling wealth in Western countries and India is the kind of
relationship one has with the clients. In Western countries, one handles their wealth and then expects
them to be friendly. In India, one has to become their friend and then they trust one with their wealth.
This is mainly because you are handling wealth not only for them but also for their future generations.

There are 3 teams of wealth management which includes advisory, products and compliance. It is all
about juggling multiple things and adapting to changing situations. The prerequisite for wealth
management is knowledge of the products. According to him, Wealth management is always about
knowledge; if you have that, money will follow. Another important trait is to have extremely good
people skills. A wealth manager does not have a typical 9 to 5 job; his business is conducted mostly
outside the office.

He then discussed alternative investments which can be defined as investments in any other funds
except debt and equity. SEBI has started a very good initiative with Alternative Investment Funds being
introduced. There are hundreds of opportunities opening up with investments in the movies business,
art and real estate. With over 350+ Alternative Funds already set up, these funds provide an
opportunity for individuals to invest money in.

The scenario in India is currently changing and the world is looking at us. The scope of wealth
management is huge with per capita income as well as the standard of living increasing.

Most business families in India are in the 3rd generation who are financially literate individuals and
understand the importance of wealth managers. At Priwexus, they are focusing more on the future
generation. The aim is to create a peer to peer network of high wealth individuals which not only
caters to top 100 business families but also Tier 2 and 3 families who were outside the purview up
until now. He ended by saying, Wealth management is a changing and dynamic field; one always
has to be on top of their game.