Company Profile: 360 ONE (Formerly IIFL Wealth & Asset Management)

Background

360 ONE, previously known as IIFL Wealth & Asset Management, is a premier wealth and asset management firm in India. Established in 2008, the company is dedicated to empowering high-net-worth (HNW) and ultra-high-net-worth (UHNW) families to grow, preserve, and transfer their wealth and legacy. With assets under management (AUM) totaling approximately ₹5,79,222 crore (US$68 billion), 360 ONE serves over 7,500 UHNW and HNW families.

Key Strategic Focus

360 ONE's strategic focus encompasses a comprehensive suite of services tailored to the sophisticated needs of its clientele. The firm's core objectives include:

Wealth Management: Offering personalized investment solutions, estate planning, and family office services.

Asset Management: Managing pooled funds across various products and structures, such as mutual funds, alternative investment funds (AIFs), and portfolio management services (PMS).

Lending Solutions: Providing credit and leverage offerings to meet diverse financial requirements.

The company leverages cutting-edge technology platforms and a client-centric approach to deliver these services, targeting professionals, industrialists, corporate treasuries, senior executives, large traders, funds, endowments, family offices, and entrepreneurs.

Financials and Funding

As of November 2024, 360 ONE reported a market capitalization of ₹40,708 crore, with revenue (TTM) of ₹3,151.52 crore and earnings (TTM) of ₹923.95 crore. The company's net worth stands at ₹3,908.14 crore.

In March 2022, Bain Capital acquired a 24.98% equity stake in the company, underscoring confidence in 360 ONE's growth trajectory.

Technological Platform and Innovation

360 ONE distinguishes itself through its proprietary technological platforms and innovative methodologies, including:

Proprietary Technologies: Utilizing advanced digital platforms to offer seamless wealth management services.

Scientific Methodologies: Employing data-driven investment strategies and risk assessment models to optimize client portfolios.

Leadership Team

The leadership team at 360 ONE comprises seasoned professionals with extensive experience in financial services:

Karan Bhagat: Founder, Managing Director, and CEO. With over two decades in the industry, Karan provides strategic direction and leadership, having established the company in 2008.

Yatin Shah: Co-Founder and Joint-CEO, Wealth. Yatin brings over 20 years of expertise, focusing on client acquisition and engagement across diverse demographics.

Leadership Changes

In September 2023, 360 ONE expanded its global footprint by appointing Vikram Malhotra as CEO and Co-Founder of 360 ONE Global. Vikram, formerly the Global Market Head for Global South Asia and Middle East at Bank of Singapore, brings extensive experience in managing substantial assets and will be based in Singapore. The global leadership team also includes Arunabh Banerjee and Pankaj Nagrath, both seasoned professionals from the Bank of Singapore.

Competitor Profile

Market Insights and Dynamics

The wealth management industry in India is experiencing robust growth, driven by increasing numbers of HNW and UHNW individuals. India's personal financial wealth, standing at $3 trillion, is projected to reach $5 trillion by 2022. This growth is fueled by the financialization of assets and a burgeoning demand for professional wealth management services.

Competitor Analysis

Key competitors in the Indian wealth management sector include:

Anand Rathi Wealth Management: Offers comprehensive wealth solutions with a focus on personalized client services.

ASK Wealth Advisors: Provides investment advisory and family office services, emphasizing bespoke investment strategies.

Kotak Wealth Management: A division of Kotak Mahindra Bank, offering a wide range of wealth management services to HNW clients.

These competitors focus on similar client segments, leveraging their unique strengths to capture market share in the rapidly expanding wealth management industry.

Strategic Collaborations and Partnerships

360 ONE has engaged in strategic acquisitions to bolster its market position:

Wealth Advisors India Pvt. Ltd.: Acquired in October 2018 for ₹235 crore, enhancing 360 ONE's presence in South India.

L&T Capital Markets Limited (LTCM): Acquired in April 2019 for ₹230 crore, expanding the company's client base and service offerings.

Merrill Lynch Wealth Management (MANPL): Acquired a 91% stake in November 2022 for ₹45.74 crore, further strengthening the firm's wealth management capabilities.

Operational Insights

360 ONE's strategic acquisitions and rebranding efforts have solidified its position as a leading wealth and asset management firm in India. The company's client-centric approach, combined with technological innovation and a comprehensive suite of services, provides a distinct competitive advantage in the market.

Strategic Opportunities and Future Directions

Looking ahead, 360 ONE aims to:

Expand Global Presence: Through 360 ONE Global, the company seeks to cater to international clients, including Non-Resident Indians and family offices.