India’s Economic Boom and the Rise of a New Wealth Class
India’s recent economic boom has led to a rapidly expanding affluent population. According to the 2025 Wealth Report, the number of millionaire households has nearly doubled in just four years, reaching 871,700. This surge has been fueled by strong stock markets, robust urban growth, and a wave of entrepreneurship.
A notable trend in this new generation of wealth is its youthfulness. Many Indian billionaires today are under 40 years old, and their relationship with money differs markedly from that of previous generations. “Earlier, affluence came in your late 50s or 60s, after decades of building a business,” explains Ronak Sheth, Chief Marketing Officer at 360 ONE Group. “Today, founders in their 20s are building multi-million-dollar empires.”
For this younger generation, wealth is not the final destination — it is a means to a larger purpose. Sheth notes, “Seventeen years ago, when I started my career, clients wanted safe returns and legacy continuity. Today, they ask very different questions: How can I invest in global innovation? How can I be part of the startup changing the way business is done? How can I make my capital more purposeful?”
Meet The Affluent Investor
This shift towards purpose-driven wealth management is perhaps the most defining change in the industry today. Clients are no longer content with merely preserving or growing their assets; they want their wealth to have meaning.
“As affluence grows, purpose becomes the new alpha,” says Sheth. “It’s not only about inheritance anymore — it’s about values, knowledge, and impact. Clients want to ensure their children inherit the right worldview, not just the money.”
This purpose often manifests through philanthropy, ESG (Environmental, Social, and Governance) investing, or passion projects. However, many clients find it challenging to channel this intent effectively. “That’s where we see our role — not only to manage wealth but to help institutionalize giving. We do the groundwork of identifying NGOs, conducting due diligence, and creating structured ways for clients to give back,” Sheth adds.
A New Identity: 360 ONE Group
When 360 ONE Group rebranded from IIFL Wealth in 2022, the change was far more than cosmetic. After building a legacy over 17 years under the IIFL name, the firm had evolved beyond wealth management. It had become a multi-business, multi-product financial ecosystem managing over USD 50 billion in assets under management.
“IIFL was a strong legacy brand, but by then we were much more than a wealth management company. We had asset management, lending solutions, estate and trust planning. Our ambitions had outgrown the old name,” explains Ronak Sheth.
The new identity signals a 360-degree holistic view of the one person who matters most to the company: the client. “We wanted to build a brand that was modern, contemporary, subtle, yet carried the gravitas of India’s leading wealth manager,” says Sheth.
Client Experience & Human Connection
For 360 ONE, marketing has always been driven by experiences and human connections. “In today’s world of constant digital interactions, people are lonelier than ever. We believe in bringing them together — through events and communities where ideas are exchanged and relationships deepen,” Sheth explains.
This philosophy is reflected in unique client initiatives such as the DIVE program, which brings together clients’ children aged 20 to 30 for two days of immersive learning with global speakers. Additionally, the Young Leaders Program (YLP) offers undergraduate children of clients a three-week internship designed to prepare them for future leadership roles.
For others, the “plus” in 360 ONE’s ‘Performance Plus’ philosophy translates into unforgettable, money-can’t-buy experiences—such as attending the Wimbledon final or exclusive knowledge-sharing sessions with industry pioneers like Morgan Housel or Henry Kravis.
“Performance is about how we manage a client’s portfolio,” Sheth notes. “But the plus varies for every individual. For some it’s access, for others it’s learning, and for some it’s family engagement. That personalization is what strengthens the bond.”
Trust and Retention
The true test of any wealth manager lies in client retention. According to Sheth, 360 ONE boasts the highest client retention rate in the industry. “Clients stay with us because they trust us to do the right thing for them,” he says. “That trust is earned by living up to expectations consistently, year after year.”
Positioning as a Financial Ecosystem
As the firm expands its portfolio through asset management, lending, estate planning, and acquisitions such as BNK Capital, it is positioning itself as a full-fledged financial ecosystem catering to India’s growing affluent class.
What sets 360 ONE apart is its ability to view wealth as more than just numbers — it sees wealth as intertwined with meaning, values, and human connection.
“Our clients are asking deeper questions,” Sheth reflects. “They want to know how their wealth can fuel innovation, how it can give back to society, how it can prepare the next generation. That’s what we’re here to help them answer.”
https://www.freepressjournal.in/brandsutra/ronak-sheth-breaks-down-indias-new-affluent-investor-purpose-over-profit-impact-over-income