Commissions trump advice in India’s booming wealth management business
Among India’s three top listed wealth managers, Nuvama Private Wealth hardly earns much out of advising clients, while Anand Rathi Wealth does not offer this service. For the third, 360 One Wealth Management, commissions continue to grow at a much faster pace. In 2013, the Securities and Exchange Board of India (Sebi) rolled out investment…