# Wealth managers quit legacy firms to start own ventures 2026-08-14T02:10:37+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet India's ultra-high net worth individuals (net worth above Rs 25 crore) reached 13,600 in 2024, and wealth management assets under management are projected to nearly double to $2.3 trillion by FY29, reports Livemint. This booming market is driving a wave of senior wealth managers to leave legacy firms and start their own ventures, with at least six such firms launched in recent years. Examples include TriGen Wealth (from LGT Wealth), Veriqus Partners, Dezerv, and Centricity Wealth. The trigger is often declining incentives: managers with large client books see limited upside in salary and bonus compared to what they could earn independently. However, these new firms face high costs, difficulty retaining relationship managers, and pressure from private equity investors to scale profitably. ## Coverage - livemint.com Tags: finance industry, India, private equity, startups, ultra-high net worth, wealth management Canonical: https://indianopinion.org/wealth-managers-quit-legacy-firms-to-start-own-ventures/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/wealth-managers-quit-legacy-firms-to-start-own-ventures/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.