The quality of advice and level of service play an important role in building a winning business model for banks.

Wealth management and private banking divisions are increasingly gaining importance in the banking sector, as banks in India are being considered a one stop shop for providing financial solutions by the customers. Changing investor demands and tax regulations are helping banks in providing a complete portfolio advisory module in addition to traditional banking products. The structure of the banking industry is shifting by attracting talented advisors and helping in client retention and penetration aspects.

Banks are currently looked upon by both corporate and individual investors in providing innovative financial solutions like selection of best managed products and structured products.Differences between the traditional type banking players and complete solutions providers can be noticed in the existing industry players based on the fee income these players generate from wealth management and private banking services. The quality of advice and level of service play an important role in building a winning business model for banks.

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