Mumbai, Shriram Wealth plans to expand beyond its existing high-net-worth individual (HNI) client base and target customers with investable assets of Rs 10 lakh to Rs 2 crore over the next 12-18 months, a top official said on Friday.
“The company is planning to start catering to clients with a ticket size of Rs 10 lakh to Rs 2 crore bracket in the next 12-18 months, along with the HNI/rich having a ticket size of Rs 2 crore and above,” managing director and chief executive officer Vikas Satija told PTI in an interview.
Shriram Wealth currently focuses on clients in the Rs 2 crore-Rs 25 crore segment, and will gradually look at coming down to serve a wider set of customers with the wealth management solutions, he said.
The company plans to leverage the Shriram Group’s distribution network of nearly 4,400 branches to expand its wealth management services to Tier-II and Tier-III cities.
“We don’t want to restrict ourselves. From a group perspective, we have a great distribution network. The group has close to 4,400 branches,” Satija said.
The company also plans to introduce artificial intelligence-based solutions over the next 3-6 months. It has not yet deployed AI across its operations.
Satija said the wealth management industry is witnessing changes in clients’ risk appetite, technology adoption and awareness.
“I think there are three key changes. First is risk appetite, as the next generation naturally has a higher appetite for risk as wealth is created. Second is the growing use of technology and AI, which is far more prevalent today. Third is awareness and knowledge, which has increased significantly through regulators, companies, institutions, asset managers and the media,” he said.
He further said that technology and AI are increasingly being used for convenience and portfolio management, while clients’ access to information and awareness of financial products have also increased.
In June 2025, Shriram Group announced its entry into the wealth management business through a joint venture with South African financial services company Sanlam. Sanlam holds a 50 per cent stake in the joint venture.
The wealth management firm is also working towards setting up 50 centres pan-India to onboard 500 wealth professionals and with an AUM of Rs 50,000 crore in the next five years.
Shriram Wealth currently has around 170 employees and plans to increase its employee base to 220 by the end of FY27. PTI
