In a wealth management industry that’s increasingly fast-paced and competitive, true differentiation comes from a combination of technical mastery, adaptability, and genuine client understanding. Few embody this balance better than Subhankar Chakraborty, CFP®, CWM®, Private Wealth Manager, who specializes in equity, debt, and gold portfolios for high-net-worth individuals (HNIs), family offices, and institutional clients.
His career began in 2011 as a mutual fund distributor, but his focus quickly expanded beyond distribution to comprehensive wealth and capital market management. Over 15 years, Subhankar has developed a distinctive approach—favoring instruments that are liquid, digitally accessible, and regulator-backed. His portfolio strategies blend disciplined research with the human side of investing, recognizing that every client’s decisions are shaped by their unique life experiences.
In this exclusive Market Insiders feature, Subhankar shares his professional journey, lessons from managing large portfolios, his view on future investment themes, and practical advice for both new investors and aspiring wealth managers.
Journey into Wealth Management and Specialization in Equity, Debt, and Gold
Subhankar’s journey began in 2011 as a distributor of mutual funds, while also offering insurance and loans to build revenue. Over time, he shifted his focus entirely to wealth management and the capital markets. This meant not just recommending mutual funds, but actively managing portfolios across equity, debt, and gold.
His guiding criteria for asset classes were clear: they should be easily liquidated, digitally owned, and backed by credible regulatory oversight. Equity, debt, and gold ticked all those boxes—providing flexibility for clients while maintaining safety and compliance.
Lessons from 15 Years of Managing Portfolios for HNIs and Institutions
Four core lessons shape Subhankar’s investment philosophy:
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Clients aren’t “wrong”—they’re shaped by their experiences. If a client rejects a proposal, it’s not about forcing them to agree, but showing them the broader financial picture.
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Luck matters. Research and analysis are essential, but timing and circumstances play a bigger role than many admit.
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Know how much is enough. Ambition drives wealth creation, but satisfaction prevents overexposure to risk. Goals change over time, and strategies must adapt.
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React quickly to failure and compound success. Losses must be cut early, while winning positions should be nurtured to maximize returns.
What Makes a Successful Private Wealth Manager Today
In today’s market, knowledge is the foundation. Advisors must be equipped with advanced analytical tools and remain updated on macro and microeconomic trends. But knowledge alone is not enough—the real differentiator is connection. Understanding a client’s psychology, limitations, and financial behavior allows a wealth manager to design solutions that are truly customized.
The Role of Alternative Investments for HNIs and Family Offices
Subhankar explains that “alternative investments” can mean different things depending on context. Traditionally, gold, silver, and commodities are classified as alternatives. But in modern wealth management, the term often refers to private equity, alternative investment funds (AIFs), invoice discounting, and REITs.
While not essential for every portfolio, these instruments suit HNIs and family offices that can afford to take on higher risk in pursuit of higher returns. In his view, wealthier investors should aim to be ahead of the curve—allocating a portion of their capital to alternatives.
Long-Term Growth Sectors in Indian Equity Markets
Looking ahead, Subhankar identifies banking and financial services as a structural growth sector—it’s the backbone of the economy. With India’s demographic advantage, consumption themes such as FMCG, consumer durables, and automobiles are poised for long-term growth. He also highlights defence as an emerging star sector, driven by India’s shift from being a defence importer to becoming self-reliant and a potential exporter.
Determining the Right Allocation to Gold
Gold remains a safe-haven asset in Subhankar’s strategies, with ideal allocations ranging from 10% to 20% of a portfolio. This percentage is not fixed—it’s adjusted dynamically based on the client’s needs, risk appetite, and prevailing market conditions.
Evaluating Mutual Funds for Different Client Profiles
Mutual funds have transformed Indian investing by making capital markets accessible to households nationwide. Fund selection depends on the investor’s risk appetite, investment horizon, and goals.
For retail investors, strategies are goal-based (e.g., education, retirement) and typically sector-agnostic to avoid overexposure. For HNIs, the focus is more on quarterly returns and trend-following, so sector-specific funds often feature prominently for better reward potential.
Maintaining Transparency and Client Trust
Transparency is non-negotiable. Subhankar communicates regularly with clients via social media and market updates, giving them a realistic view of the economy and their portfolios. When presenting investment proposals, he discloses all charges and his own remuneration. Regular in-person meetings reinforce trust and relationships.
Case Study: A Customized Strategy that Protected and Grew a Client Portfolio
In 2018, Subhankar inherited a client portfolio heavily weighted toward small-cap equities. While the sector had performed well, he saw risk in the overexposure. After discussing the client’s 2-, 5-, and 10-year goals, he rebalanced the portfolio—reducing small-cap weight, diversifying across market caps, and shifting short-term needs into medium-term debt funds.
When a market correction hit soon after, small caps suffered most—but the client’s near-term funds remained insulated, proving the value of proactive risk management.
Insights for Aspiring Financial Advisors Managing HNI Portfolios
Managing HNI portfolios starts with understanding psychology. Some will be overly cautious; others extremely aggressive. Once the mindset is identified, advisors must provide informed, technically sound answers to tough questions. Analytical and problem-solving skills, paired with market tools, are essential for winning and retaining high-value clients.
The Future of Indian Wealth Management Over the Next Five Years
India’s wealth management sector is set to grow 12%–15% annually, driven by economic expansion, rising HNI numbers, and broader market participation. Trends to watch include:
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Digital transformation of advisory services
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Hyper-personalization of portfolios
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A shift from distribution to advisory-driven models
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Strong growth in HNI and UHNI wealth
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A move toward holistic financial planning
Advice for Young Investors Entering Mutual Funds and Wealth Creation
Wealth creation is a discipline, not a race. Staying invested over the long term, even when markets turn volatile, is critical. Subhankar advises linking investments to specific goals for motivation and avoiding the temptation to chase flashy products.
Before investing in mutual funds, create an emergency fund in a bank fixed deposit—so you won’t have to liquidate your MF holdings in an emergency.
Investment Philosophy in One Sentence
“Do not sacrifice your favorite meal to invest for future, invest enough to ensure that you can have that favorite meal of yours throughout your life.”
Conclusion
Subhankar Chakraborty’s career is proof that successful wealth management blends technical expertise, adaptability, and a human touch. His disciplined yet flexible approach to portfolio construction ensures clients are positioned for both growth and resilience.
For market insiders, his insights serve as a reminder that investment management isn’t just about chasing alpha—it’s about aligning strategies with client psychology, market realities, and long-term goals. As India’s wealth management landscape undergoes rapid transformation, professionals who combine deep market knowledge with genuine client engagement will be best placed to lead. Subhankar’s philosophy offers a model worth studying—and emulating.
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