VMPL
New Delhi [India], June 23: India's wealth management sector is entering a new phase of evolution, driven by digital transformation and rising investor awareness. Increasing digital literacy is bringing new investors into the fold, while AI-led insights are making portfolio strategies more precise and adaptive. Alongside this, growing interest in sustainable investing is influencing decision-making, reflecting a broader global shift towards responsible wealth creation.
The "Crafting Bharat - Season 3" presented by AWS Startups, an initiative by NewsReach and production partner - HT Smartcast, explores the founders' resilience, agility and passion to build a super startup and inspire the next wave of entrepreneurs. This series is hosted by Gautam Srinivasan, famed for hosting a diverse range of TV and digital programs, currently consulting editor at CNBC (India), CNN-News18, Forbes India, and The Economic Times.
In this episode, we spotlight Sandeep Jethwani, Co-founder of Dezerv, as he shares insights on how cloud, technology, risk awareness and investor behavior are redefining wealth management and how AWS is powering this shift. Discover the inspiring where we deconstruct the blueprint of growth for India's super startups through this series.
Edited Excerpts:
How did the crisis shape your journey from wealth manager to founder?
When markets are rising, almost everyone feels like an investment expert. But true wealth managers are shaped during downturns. One important lesson I learned from market crises is to focus on risk before returns. We often ask clients a simple but unusual question before they begin investing with us: how much money are you willing to lose? It may sound counterintuitive, especially in a profession focused on building wealth. However, understanding a client's tolerance for volatility allows us to create portfolios they can sustain over time.
Interestingly, most people do not walk away from this question. Instead, they are curious because very few advisors ask it. The industry usually focuses on upside, returns, and success stories. We take a different approach by ensuring that a portfolio aligns with a client's ability to handle downside risk. This became especially clear during 2008, when many investors faced losses and exited at the lowest point. As a result, those losses became permanent because they never re-entered the market.
How did you shift consumer behavior from a traditional bank RM model to trusting a digital-first platform with their investments?
Our approach is more hands-on, not less. In a traditional bank RM setup, relationship managers handle multiple responsibilities such as banking, loans, insurance, and investments. This often limits the depth of focus they can provide.
In our model, relationship managers are dedicated solely to managing portfolios and engaging with clients on investments. It is like moving from a generalist to a specialist, where expertise becomes more focused and meaningful. They actively interact with clients using technology, including video-based communication, which allows for consistent and personalized engagement. This digital approach enables us to serve clients across hundreds of locations while maintaining strong relationships. The overall experience is designed to be intuitive, transparent, and deeply engaging.
How does your platform prepare for uncertain market periods when investors may take impulsive decisions? What role does data play in retention?
Volatility is an inherent part of markets, and it is what enables returns over time. Without it, meaningful gains would not exist.
There are two key responsibilities for a wealth manager in such conditions. The first is getting asset allocation right. This begins with understanding how much downside a client is comfortable with. For example, if a client can only tolerate a 10 percent decline, then allocating more than 40 percent to equities may not be suitable, especially when markets can fall significantly due to external factors. The second is consistent communication. When portfolios shrink, especially when money is tied to important life goals, anxiety is natural. At such times, it is critical to stay closely connected with clients, explain what is happening, and guide them through the situation.
We also help clients visualize potential downside scenarios in advance, such as how they would react to a 20 percent drop. By aligning expectations and behavior early on, we can build portfolios that are truly suited to everyone.
Your platform tracks over Rs 2,50,000 crore in assets. How have you built and scaled your wealth management tech stack, and what role has AWS played in overcoming challenges?
AWS has been a key partner throughout our journey. One of our earliest priorities was to re-architect how data is structured within wealth management. While there is significant focus on AI and advanced technology, none of it works effectively without a strong data foundation.
Many legacy systems in the industry are difficult to scale and build upon, so we invested heavily in creating a modern data architecture. During our early growth phase, AWS supported us with credits and guidance, and that partnership has continued as we evolved our systems.
Today, the AWS stack supports multiple aspects of our platform. It enables portfolio reviews, portfolio management through our One Model platform, and seamless reporting to clients. There are several layers of activity built on this infrastructure, and we believe we are still at an early stage of what can be achieved.
Stay tuned to Crafting Bharat - Season 3 as we bring you these inspiring entrepreneurs for insightful and candid discussions with Gautam Srinivasan.
Quote: "True wealth management lies in combining human judgment with technology to guide investors through every market cycle."
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