PNN
Bengaluru (Karnataka) [India], August 19: Spark PWM Private Limited (formerly known as Spark Family Office and Investment Advisors (India) Private Limited), or Spark Private Wealth Management, a subsidiary of Spark Capital Advisors (India) Limited, a two-decade-old mid-market investment banking and financial services firm today announced the inauguration of a new office at Prestige Emerald in Bengaluru’s Ashok Nagar. This move is part of Spark PWM’s ongoing expansion strategy to accommodate its rapidly growing team and to better serve its clients in the region.
Spark PWM has seen impressive growth over the past year, with its Assets Under Management soaring from Rs 3,000 crores in April 2023 to over Rs 20,000 crores today, thanks to its dedication to bespoke wealth management for Ultra HNI families across India.
This year, Spark PWM has earned top industry awards, including Best Boutique Wealth Manager – Rising Star (India) at The Asset Triple A Private Capital Awards 2024 and Emerging Wealth Manager (India) at The Twelfth Annual WealthBriefingAsia Awards 2024, solidifying its status as one of India’s fastest-growing financial services firms.
On the occasion of Bengaluru’s new office inauguration, Arpita Vinay, MD & Co-CEO, Spark PWM said, “Our expansion in Bengaluru is a direct result of our impressive growth in AUM and team size. As a crucial market for us, this new office will enhance our ability to offer tailored strategies and exceptional support to our clients in the region. This milestone marks a key step in our journey to becoming a leading private wealth management firm in India.”
Kishore Rijhwani, Senior Director, Spark PWM added, “Bengaluru office will continue Spark PWM’s tradition of offering top-tier solutions through its open-architecture platform. This new location would enable the Ultra HNI families from the southern region to easily access our multi-family office proposition, which includes a comprehensive suite of services such as portfolio monitoring, investment management, estate planning, and tax services. We aim to bring our best-in-class services closer to our clients.”
The company’s growth trajectory has also led to a significant expansion of its team. From just 60 members in April 2023, Spark PWM has grown to over 300 members today, including more than 130 highly skilled Relationship Managers. This expansion highlights the company’s commitment to attracting top talent and delivering best-in-class wealth management services.
As part of its ambitious expansion plan, Spark PWM has extended its geographical footprint across India since last year and plans to expand to international markets. From a single office in Chennai, the company has expanded to key cities, including Mumbai, Delhi, Kolkata, Ahmedabad, Pune, Hyderabad, and Bengaluru, with a provision for servicing clients in satellite locations.
Spark PWM Private Limited (formerly known as Spark Family Office and Investment Advisors (India) Private Limited), is a subsidiary of Spark Capital Advisors (India) Limited. The company extends the core DNA of Spark Capital – Knowledge, Integrity, Trust & Transparency – to help Affluent Families, Business Owners / Promoters, Family Offices, New Age Entrepreneurs and CXOs to navigate a world full of opportunities and risks. Spark PWM offers products and services designed to help them seamlessly create, preserve, and transition their wealth across their generations. The offerings are backed with a robust Investment Policy Framework which is backed by research and superior execution to pick future winner ideas well ahead of our competition.
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