VC Circle, Sep 7, 2017
By Bruhadeeswaran R
Sanctum Wealth Management Pvt. Ltd aims to grow the assets its manages for clients four-fold by 2020, as the company that acquired the local private banking business of Royal Bank of Scotland charts out a plan to expand in India and overseas.
The Mumbai-based company has set a target to increase its managed assets to Rs. 20,000 crore from Rs. 5,000 crore currently and Rs. 3,700 crore at the time of the RBS deal last year, founder and CEO Shiv Gupta told VCCircle.
Sanctum has also started offering investment banking services to help clients sell assets and raise funds. It hired investment banker Sumit Pachisia from ICICI Securities in July to head the so-called strategic solutions unit that will provide such services. Pachisia has a decade of experience at ICICI Securities leading the coverage in real estate, auto ancillary, industrial and media sectors.
“We have launched our strategic solutions unit to help our entrepreneur clients with capital markets solutions in addition to the existing suite of services,” said Gupta.
Sanctum already offers bespoke products and services to people with high net worth, typically defined as those who have more than $1 million (Rs. 6.4 crore) in investable assets. Its key offerings are investment solutions, real estate services and wealth planning.
The company is seeking to tap into the rising number of affluent individuals and families in India. According to a report by market research firm New World Wealth, India had 2,64,000 people with high net worth at the end of 2016, up 12% from the previous year. The report also showed that the combined wealth of these people was $3 trillion and that wealth managers together managed $78 billion, highlighting the market potential.
Sanctum would compete with the likes of Mumbai-based Waterfield Advisors, which advises family offices and families with ultra-high net worth. Waterfield said in May it was looking to grow assets under advisory by five times to Rs. 50,000 crore in three years’ time.
Another firm Wodehouse Capital Advisors Pvt. Ltd, which began as a multifamily office managing wealth of rich clients, has expanded into investment banking and also started providing consultancy services to foreign firms planning their India entry strategy.
Gupta launched Sanctum Wealth in April 2016 with four branches and five licences for various offerings in wealth management after acquiring the Indian private banking business of Royal Bank of Scotland. Before the acquisition, he oversaw all aspects of RBS’ onshore private banking franchise in India.
Gupta was backed by a clutch of venture capital investors such as Jayesh Parekh of Jungle Ventures, Nitin Nath of Mount Nathan Advisors and Shagun Kapoor Gogia of Tuscan Ventures to take control of the new entity.
Gupta also said that about 90-95% of the clients shifted to Sanctum Wealth from RBS. Despite the initial phase seeing a period of stabilisation, Sanctum clocked about 25-30% yearly growth in assets under management and the number of clients, he added.
The company is planning to expand to Singapore, Dubai and London, among other cities outside India, Gupta said. In May, the company had hired Satwick Tandon as executive director to pursue its international strategy.
Overall, Sanctum has 80 employees and plans to grow the team to about 200 employees over the next few years, Gupta added.
Registered Office: 1401,Tower 2, 14th floor, One International Center, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013 Contact number: +91 22 61779500 | CIN: U74140MH2015PTC264932
Investor Complaint Handling
For any grievance or dispute please contact us at the above address and phone number or send us an email to. grievance@sanctumwealth.com.
In case of escalation, please reach out to the Compliance Officer at Email: compliance@sanctumwealth.com; Contact: +91 22 61779562 or the CEO at Email: ceo@sanctumwealth.com; Contact: +91 22 61779561
Portfolio Management Services and Research Services: : In case of any grievance / complaint, please contact the Compliance Officer or the CEO.
Broking and Demat: Complaint Filing Process
In case you are not satisfied with the response, you may contact the stock exchanges or depository directly: (NSE) Tel: +91 22 26598190 / 1800 2200 58 (Toll free) or Email: atignse@nse.co.in; (BSE) Tel: +91 22 22728517 or Email: is@bseindia.com; (NSDL) Tel.: +91 22 24994200 /
Toll free (Investor Helpline): 1800 1020 990 / 1800 224 430 or Email: relations@nsdl.co.in or Click here to submit Complaint / Query online.
If you are not satisfied with the response, you can further lodge your grievances with SEBI at SCORES or you may also write to any of the offices of SEBI. For any queries, feedback or assistance, please contact SEBI Office on Toll Free Helpline at 1800 22 7575 / 1800 266 7575
SCORES Website link : https://investor.sebi.gov.in | Saa₹thi 2.0 Mobile App: https://www.sanctumwealth.com/saarthi-app-digital
After exhausting the available options for resolution of dispute, if you are still not satisfied with the outcome, you may avail online conciliation and / or online arbitration through Online Dispute Resolution portal (SMART ODR portal) https://smartodr.in/login. SEBI Master Circular for Online Resolution of Disputes (for reference) : Download
Key Managerial Personnel
Shiv Gupta CEO & Designated Director | Email: ceo@sanctumwealth.com | Contact: +91 22 61779561
Nitin Nath Designated Director | Email: nitin.nath@sanctumwealth.com | Contact: +91 22 61779576
Mridula Iyengar Compliance Officer | Email: compliance@sanctumwealth.com | Contact: +91 22 61779562
Tanmay Kejriwal COO | Email: tanmay.kejriwal@sanctumwealth.com | Contact: +91 22 61779575
Investor Awareness
Trading and investments in Securities are subject to market risk, there is no assurance or guarantee of returns.
Please read the PMS Disclosure Document, Risk Disclosure Document and Dos and Don’ts prescribed by the Exchanges and Mutual Fund Offer Documents carefully before investing.
e-Voting: To participate in the process of e-Voting, please click on the following links: https://evoting.nsdl.com or https://www.evotingindia.co or https://eservices.nsdl.com
Dear Investor,
As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educative material in the form of text and videos, so as to become an informed investor.
https://www.bseipf.com/investors_education.html
We believe that an educated investor is a protected investor !!!
Attention Investors: No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No need to worry about the refund either, as the money remains in the investor’s account. Prevent Unauthorized Transactions in your demat and broking account −> Update your mobile numbers/email IDs with your stock brokers and depository participants. Receive information of your transactions directly from Exchange & NSDL on your mobile/email at the end of the day..... Issued in the interest of Investors. (Ref Circular No : NSE/INSP/27346, BSE/ 20140822-30, NSDL 2014/94/97 & 2015 / 104). KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Registered Office:
1401,Tower 2, 14th floor,
One International Center,
Senapati Bapat Marg,
Elphinstone Road, Mumbai 400013
Contact number: +91 22 61779500
| CIN: U74999MH2017PTC302008 |
Real Estate Regulatory Authority License no. (A51900011805)