Spark PWM expands Bengaluru office to support growing team and business growth

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 opening of a new office at Prestige Emerald in Bengaluru’s Ashok Nagar. The move is part of Spark PWM’s ongoing expansion strategy to accommodate its rapidly growing team and better serve its clients in the region.

Spark PWM has witnessed impressive growth over the past year, growing its Assets Under Management from Rs 30 billion in April 2023 to over Rs 20,000 crore today, thanks to its commitment to providing customized wealth management to Ultra HNI families across India.

Spark PWM has won major industry awards this year, 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, cementing its status as one of India’s fastest growing financial services firms.

Speaking on the occasion of the opening of the new office in Bengaluru, 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 pivotal market for us, this new office will enhance our ability to provide tailored strategies and exceptional support to our clients in the region. This milestone marks a significant step in our journey to become a leading private wealth management firm in India.”

Kishore Rijhwani, Senior Director, Spark PWM added, “The Bengaluru office will continue Spark PWM’s tradition of offering best-in-class 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 offerings, which include 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 the team. From just 60 members in April 2023, Spark PWM has grown to over 300 members today, including over 130 highly skilled Relationship Managers. This expansion underscores 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 expanded its geographical footprint in India since last year and plans to expand into 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 to serve customers at 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 Spark Capital’s core DNA – Knowledge, Integrity, Trust and Transparency – to help high net worth families, business owners/promoters, Family Offices, New Age Entrepreneurs and CXOs navigate a world of opportunities and risks. Spark PWM offers products and services designed to help them seamlessly create, preserve and transfer their wealth to generations to come. The offerings are backed by a robust Investment Policy Framework that is underpinned by research and superior execution to select future winning ideas well ahead of our competition.

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