Anshul Raj Garg : Redefining Investment Advisory For Indian Family Offices With A Unique Approach
Anshul Raj Garg
Ex-Board Member & Director
Anshul Raj Garg, a seasoned investment professional, has honed his skills in banking, Investment advisory, wealth management, and deal-making over two decades. His ascent to a leadership position in India's competitive investment advisory industry is a testament to his relentless pursuit of knowledge and courage to make bold decisions.
Embarking in an engaging interaction with CEO Insights magazine, Anshul shares his strategies, future roadmap, and much more. Let’s delve into it.
What are some of the professional mile stones that you have achieved in your journey so far?
The most significant milestone was starting my Education at the prestigious St. John's High School Chandigarh, where I developed my leadership abilities and academic prowess while becoming a black belt in karate, serving as a member of the school cabinet, and more. My analytical approach was shaped by my pursuit of Chemical Engineering at Punjab University. My MBA at IIT Kanpur further developed this, which allowed me to gain more experience in management and networking.
I spent five years working my way up from front-line sales to leadership positions at Citibank, so joining the company was significant in my career. With leadership development and global banking efforts, my time at Citibank's Mumbai headquarters especially allowed me to gain a deeper grasp of consumer banking and wealth management.
As an alumnus of IIT Kanpur, what are the best learning lessons you take from the institute and how has it played a part in your professional growth?
Critical thinking and problem-solving skills are among the most important things I gained as an IIT Kanpur alumnus. The brightest Indian minds working together was one of the noticeable benefits of the MBA
program, coming from diverse backgrounds in various engineering streams that gave all of us a good grasp of number crunching and a systematic approach to problem-solving. These abilities were further refined by the curriculum at DOM IIT Kanpur, which turned engineering aptitude into management know-how.
Tell us about what you learned from your two-decade career spanning stellar organizations.
I am truly blessed to have worked in stellar organizations and been able to serve my clients, who have slowly transitioned into friends and supporters. I have had assets under advisory close to $1 billion, a remarkable feat in the domestic Indian context. My success is all thanks to my clients, now friends, who have trusted my judgement in financial markets.
An estimated 70-80 percent of Indian household wealth that is invested in gold, real estate and other yielding assets is primarily invested in an unorganized manner with little or no institutional advisory, and, ironically, most wealth management companies con- centrate on the 10-20 percent of household wealth kept in paper assets (Equity and Debt) only.
Indians also have great potential to diversify and own assets abroad as job seekers and business owners. The regulations give Indian HNIs a great chance to establish themselves inter-nationally by allowing them to operate firms overseas.
India has matured as an investment hub, and client portfolios need more un-correlated asset classes than existing ones. An example is education, which can be a stunning asset class to invest in India.
How do you view the country's economic growth and the opportunities it presents for Indian entrepreneurs on the global stage?
I saw India's incredible development in the early eighties. I was raised in the early 1980-1990's when liberalization had a significant effect. Since then, India has experienced remarkable growth, not just in terms of percentages but also in terms of absolute numbers. The wealth distribution of the nation has changed significantly. In 1991, there was just one dollar billionaire, but by 2024, there were over 180. An estimated $15 trillion is the entire household wealth in India, with tangible assets like gold and real estate accounting for 70 percent.
My main goal is to make Indian family offices truly diversified with access to unique asset classes & enable them to run more effectively & efficiently
Tell us about what you learned from your two-decade career spanning stellar organizations.
I am truly blessed to have worked in stellar organizations and been able to serve my clients, who have slowly transitioned into friends and supporters. I have had assets under advisory close to $1 billion, a remarkable feat in the domestic Indian context. My success is all thanks to my clients, now friends, who have trusted my judgement in financial markets.
An estimated 70-80 percent of Indian household wealth that is invested in gold, real estate and other yielding assets is primarily invested in an unorganized manner with little or no institutional advisory, and, ironically, most wealth management companies con- centrate on the 10-20 percent of household wealth kept in paper assets (Equity and Debt) only.
Indians also have great potential to diversify and own assets abroad as job seekers and business owners. The regulations give Indian HNIs a great chance to establish themselves inter-nationally by allowing them to operate firms overseas.
India has matured as an investment hub, and client portfolios need more un-correlated asset classes than existing ones. An example is education, which can be a stunning asset class to invest in India.
How do you view the country's economic growth and the opportunities it presents for Indian entrepreneurs on the global stage?
I saw India's incredible development in the early eighties. I was raised in the early 1980-1990's when liberalization had a significant effect. Since then, India has experienced remarkable growth, not just in terms of percentages but also in terms of absolute numbers. The wealth distribution of the nation has changed significantly. In 1991, there was just one dollar billionaire, but by 2024, there were over 180. An estimated $15 trillion is the entire household wealth in India, with tangible assets like gold and real estate accounting for 70 percent.
,but by 2024, there were over 180. An estimated $15 trillion is the entire household wealth in India, with tangible assets like gold and real estate accounting for 70 percent.
Indian Entrepreneurs are more ambitious than ever and set to broaden their canvas. I foresee more Indian Businesses, Family Offices and UHNI Individuals investing in related businesses outside of India and in high ROCE domestic businesses (like Education) in India.
Where are you heading to make more of an impact in your journey going forward?
My upcoming venture, which I will announce soon, is poised to significantly impact India's ultra-high-net-worth individual (UHNI) market. I plan to target the 1,320 Indian families, each controlling more than Rs.1,000 crores in net worth. Together, they account for around 42 percent of the country's total wealth. We want to offer this select group unmatched advice and execution to help them diversify their financial holdings. This is a venture that promises to reshape the UHNI market, and I am excited to share more details soon.
We are building a platform to truly diversify client portfolios with various uncorrelated asset classes, which existing wealth management companies might need help to provide. In today's dynamic market, diversification is not just a strategy; it's a necessity. Our platform aims to provide this essential service, ensuring that client portfolios are robust and resilient in the face of market fluctuations.
Our platform should commence operations by Deepavali 2024, with a clear focus on India's UHNI families. If we can connect with even a tiny percentage of these households and position new asset classes effectively, we could potentially disrupt the Indian Financial Advisory space forever. This is not just a venture; it's a potential game-changer in the industry, and I am eager to see its positive impact on the market.
Anshul Raj Garg, Ex-Board Member & Director, Neo Wealth
Anshul Raj Garg completed his BE in Chemical Engineering from Panjab University (2004) and an MBA from IIT Kanpur (2007). He has around two decades of experience across Citibank, Kotak Mahindra Bank, Centrum, Julius Baer, JM Financial, and Neo Wealth.
•Hobbies:Numis-matics and Philately
•Favourite Cuisine: South Indian
•Favourite Book: Books On Geo-politics
•Favourite Travel Destination: Eastern Shore of the USA
•Awards and Recognition: Citibank EMA Leadership Program, 2011
Indian Entrepreneurs are more ambitious than ever and set to broaden their canvas. I foresee more Indian Businesses, Family Offices and UHNI Individuals investing in related businesses outside of India and in high ROCE domestic businesses (like Education) in India.
Where are you heading to make more of an impact in your journey going forward?
My upcoming venture, which I will announce soon, is poised to significantly impact India's ultra-high-net-worth individual (UHNI) market. I plan to target the 1,320 Indian families, each controlling more than Rs.1,000 crores in net worth. Together, they account for around 42 percent of the country's total wealth. We want to offer this select group unmatched advice and execution to help them diversify their financial holdings. This is a venture that promises to reshape the UHNI market, and I am excited to share more details soon.
We are building a platform to truly diversify client portfolios with various uncorrelated asset classes, which existing wealth management companies might need help to provide. In today's dynamic market, diversification is not just a strategy; it's a necessity. Our platform aims to provide this essential service, ensuring that client portfolios are robust and resilient in the face of market fluctuations.
Our platform should commence operations by Deepavali 2024, with a clear focus on India's UHNI families. If we can connect with even a tiny percentage of these households and position new asset classes effectively, we could potentially disrupt the Indian Financial Advisory space forever. This is not just a venture; it's a potential game-changer in the industry, and I am eager to see its positive impact on the market.
Anshul Raj Garg, Ex-Board Member & Director, Neo Wealth
Anshul Raj Garg completed his BE in Chemical Engineering from Panjab University (2004) and an MBA from IIT Kanpur (2007). He has around two decades of experience across Citibank, Kotak Mahindra Bank, Centrum, Julius Baer, JM Financial, and Neo Wealth.
•Hobbies:Numis-matics and Philately
•Favourite Cuisine: South Indian
•Favourite Book: Books On Geo-politics
•Favourite Travel Destination: Eastern Shore of the USA
•Awards and Recognition: Citibank EMA Leadership Program, 2011