Cases

Developing a Market Landscape of Wealth Management Services for Non-Resident Indians for an Investment Banker

Background and Challenges

The client, an investment banker had developed a hypothesis that the Non-Resident Indians (NRIs) wealth management was an attractive market space. The largest constraint in this industry was the lack of information. A comprehensive and clear map of the NRIs and the insights into their wealth had to be developed.

Approach and Recommendations

To develop a clear understanding of NRI’s and the wealth managed by them, UC adopted the following approach:

  • Defined the NRI wealth categories into High Net worth Individuals, Mass Affluents and Moderately Wealthy Aspirants based on the practices and wealth / investment habits of NRIs
  • The understanding of the investment habits and the practices was developed based on detailed focus interviews with peer group investment and commercial banks, brokers and NRI sample population
  • Developed a wealth distribution pattern based on the countries of residence grouped into geographical clusters
  • Undertook a competitor scan to understand current offerings and unmet investment needs
  • Developed the points of differentiation
  • Highlighted marketing efforts to chart an action plan for the NRIs

Results

The client received a map of different customer segments to be targeted and potential marketing initiatives that could be undertaken to gain traction within the market