Multi-family office and wealth advisory Waterfield Advisors, on Tuesday announced appointment of Subodh Kaistha as managing director of the firm’s HNI (high net worth individual) segment, Bespoke Wealth.
As Bespoke Wealth’s MD, Subodh will be responsible for its sales strategy, scaling the business to new levels, and overseeing the profit and loss of the vertical. He brings prior experience in managing HNI clients, including handling investments, business lending and corporate finance.
Prior to joining Waterfield Advisors, Kaistha has worked at multiple organizations in the banking and investment space, including ICICI Securities Private Wealth and Citibank.
Bespoke Wealth segment caters to clients having investable assets between Rs 10-100 crore. Waterfield Advisors believes that the platform is a strategically crucial segment for the firm and will require holistic advisory services.
“Having spent more than 16 years in wealth management, I feel the Bespoke segment (Rs 10-100 crore) should also have access to the advisory model. Waterfield, with its robust holistic solutions under the advisory umbrella, is well geared to fulfil this gap,” said Kaistha.
“Typically, the Rs 10-100 crore segment has been served by banks, PMS houses, and distribution-led wealth managers. Leveraging our experience of serving UHNIs for more than a decade, we’ve come to understand that the HNI segment has the risk appetite and interest in venturing beyond traditional asset classes in their investment journey,” said Soumya Rajan, founder and chief executive, Waterfield Advisors.
Set up in 2011, Waterfield Advisors advises on behalf of several prominent Indian business families on financial and estate planning, succession planning, family governance and investment management services, among other services.
“We want to bring the entire spectrum of products and services to this evolving clientele and I’m confident that under Subodh’s leadership we will be able to scale this proposition to new heights”, said Rajan.
The company has offices in New Delhi, Mumbai, Chennai, Bengaluru, Kochi and Hyderabad. In February, it closed a $6 million funding round from single-family offices, ultra-high-net-worth individuals and existing investors. The firm’s total assets under management exceed $4 billion.
