Spark PWM Expands Bengaluru Office to Support Growing Team and Business Growth
Spark PWM Private Limited, formerly known as Spark Family Office and Investment Advisors (India) Private Limited, a subsidiary of Spark Capital Advisors (India) Limited, has officially inaugurated a new office at Prestige Emerald in Ashok Nagar, Bengaluru. This move is part of Spark PWM’s strategic expansion to accommodate its rapidly growing team and enhance service delivery to its clients in the region.
The firm, a key player in India’s wealth management sector, has experienced remarkable growth over the past year. Assets Under Management (AUM) have surged from Rs 3,000 crores in April 2023 to an impressive Rs 20,000 crores today. This growth reflects Spark PWM’s dedication to providing bespoke wealth management solutions for Ultra High Net-Worth Individuals (UHNI) across India.
This year has been particularly notable for Spark PWM, with the firm receiving prestigious industry accolades. At The Asset Triple A Private Capital Awards 2024, Spark PWM was recognized as the Best Boutique Wealth Manager - Rising Star (India). Additionally, the firm earned the title of Emerging Wealth Manager (India) at The Twelfth Annual WealthBriefingAsia Awards 2024, underscoring its status as one of the country’s fastest-growing financial services firms.
On the occasion of the Bengaluru office inauguration, Arpita Vinay, MD & Co-CEO of Spark PWM, expressed her enthusiasm: "Our expansion in Bengaluru is a testament to our significant growth in both AUM and team size. As a crucial market for us, this new office will enhance our capacity to deliver tailored strategies and exceptional support to our clients in the region. This milestone is a significant step in our journey towards becoming a leading private wealth management firm in India".
Kishore Rijhwani, Senior Director at Spark PWM, added, "The new Bengaluru office will continue Spark PWM’s tradition of providing top-tier solutions through our open-architecture platform. It will facilitate access for Ultra HNI families in the southern region to our multi-family office proposition, which includes comprehensive services such as portfolio monitoring, investment management, estate planning, and tax services. Our goal is to bring our premier services closer to our clients".
Spark PWM’s growth trajectory is also reflected in its expanding team. The company has increased its workforce from 60 members in April 2023 to over 300 members today, including more than 130 highly skilled Relationship Managers. This expansion highlights the firm’s commitment to attracting top talent and delivering superior wealth management services.
As part of its ambitious expansion plan, Spark PWM has broadened its geographical reach across India since last year and is now looking towards international markets. From its initial office in Chennai, the company has expanded to major cities including Mumbai, Delhi, Kolkata, Ahmedabad, Pune, Hyderabad, and Bengaluru, with provisions to service clients in satellite locations as well.
Spark PWM Private Limited is a subsidiary of Spark Capital Advisors (India) Limited, extending the core values of Spark Capital – Knowledge, Integrity, Trust & Transparency – to assist affluent families, business owners, family offices, new-age entrepreneurs, and CXOs. The firm’s services are designed to help clients create, preserve, and transition their wealth seamlessly across generations. The offerings are supported by a robust Investment Policy Framework, underpinned by research and superior execution to identify future winners well ahead of the competition.
