Shriram Group & South Africa’s Sanlam Group join hands to launch Shriram Wealth with 50:50 JV

Shriram Group and South Africa’s Sanlam Group have joined hands to launch Shriram Wealth through a 50:50 joint venture. The venture will commence operations in India’s top 10 cities, with plans to expand to 20 cities over the next year, placing a strong emphasis on Tier 2 and Tier 3 markets—regions where Shriram Group already enjoys long-standing brand equity. It aims to achieve ₹50,000 crore in assets under advice (AUA) within five years.

The venture’s primary focus will be to cater to Affluent, HNIs, and Ultra HNIs to begin with — and then Mass, Emerging, and Affluent — which will include clients with investable assets ranging from ₹10 lakh to ₹2 crore.

Vikas Satija, Managing Director & CEO of Shriram Wealth, says, “In India, only 15% of financial assets are professionally managed, whereas in mature markets, the figure is close to 75%. So clearly, that’s a big opportunity to look at in the wealth management space.”

He also pointed out that high-net-worth individuals in the affluent segment are growing at a compounded annual rate of 13–14%, which presents immense opportunities in this sector.

Shriram Wealth plans to democratize wealth through multiple channels, including accessible AI-enabled services, and projects a $10 trillion organized wealth management market over the next two decades. The company will offer a comprehensive suite of services including wealth management, lending solutions, protection solutions, global investment opportunities, and inheritance and legacy planning—powered by tech-led innovations and backed by Sanlam’s global investment expertise.