'As the world becomes increasingly digitized, the financial industry is also undergoing major changes'

A seasoned businesswoman with 26 years of experience in the private banking and wealth management sector, Ms. Sumita Pillai is an authority on financial business. Before taking over as Chief Executive of Torus Private Wealth, Sumita has been in key leadership roles in esteemed financial organizations like BNP Paribas, Citi India, Merrill Lynch Wealth Management, and Julius Baer Wealth Advisors (India).

She brings to the table a vast domain knowledge on wealth management, portfolio management, risk management, banking, mergers, and capital markets.

Equipped with experienced backed judgment and strong work ethics Sumita has successfully dealt with various complex business challenges including some multifarious M&A deals and stakeholder expectations.

Sumita has gained acknowledgment from the country’s leadership for her role in hiring, mentoring, and leading highly successful teams across organizations. She has also successfully led large businesses into transition and has achieved 98.6% of AUM and client migration in a short span of a few months during her career.

She believes that the finance sector is witnessing a seismic shift and that Forward-thinking investment managers are required not only to manage the existing wealth but also anticipate future gains and recommend the best-suited products that take care of the client's needs.

Sumita has acquired a degree in marketing and advertising from K C College of Management Studies.

Passionate about gardening and traveling, she believes in keeping her feet firmly on the ground as a businesswoman.

Various investment options offered by your company, including Basket Advisory Services, Insurance, and Discretionary PMS?

    Torus Wealth offers a range of investment options to clients, including Basket Advisory Services, Insurance, Discretionary PMS, MLD with captive issuance capability, and others. These options are carefully selected to provide high-quality investment choices that align with our clients' wealth needs and risk tolerance.

Recommended sectors and Investment themes after announcement in Budget?

     The recent budget announcement has emphasized the importance of banking and financial services for both the public and private sectors, which we believe will continue to be attractive investment themes in the near future.

    Additionally, investment themes such as renewable energy, digitalization, and rural development may also gain popularity.

Liberalized Remittance Scheme

    The Liberalized Remittance Scheme (LRS) allows individuals to freely remit money abroad for various purposes like education, medical treatment, etc. Our company provides guidance to clients on how they can maximize the benefits of LRS. We help them understand the rules and regulations, and assist with the required documentation and process for remitting funds under the LRS.

How does your company provide access to the global "start-up and venture funding" ecosystem for clients?

    At Torus Wealth, we understand that start-ups and ventures play a crucial role in driving innovation and growth. Our company has a strong network and connections in the global start-up and venture funding ecosystem. This allows us to provide our clients with access to potential investment opportunities in the start-up and venture funding space.

How are new technologies and digital advancements transforming the way people manage their finances and make investment decisions?

    As the world becomes increasingly digitized, the financial industry is also undergoing major changes. New technologies and digital advancements are transforming the way people manage their finances and make investment decisions. At Torus Wealth, we understand the importance of keeping up with these changes and strive to provide our clients with the best possible tools and resources to help them navigate this rapidly evolving landscape.

    We use advanced technology and digital platforms to provide real-time access to market data and investment information, as well as to facilitate secure online transactions. This enables our clients to make informed investment decisions based on the latest market trends and insights, and to monitor the performance of their portfolios in real-time.

    Additionally, our investment advisors stay up-to-date with the latest developments in the industry and use cutting-edge tools and techniques to provide customized investment advice and guidance. This includes utilizing big data analytics, artificial intelligence, and machine learning to identify market trends and opportunities, as well as to generate insights into investor behavior and preferences.

Topics of conversation amongst UHNI / Family office:

* The role of a family trust to mitigate inheritance tax

    The role of a family trust in mitigating inheritance tax is a common topic of conversation among UHNI and family offices. A family trust is a legal arrangement in which assets are held by a trustee for the benefit of a specified group of individuals, such as family members. By transferring assets into a trust, individuals can potentially reduce the amount of inheritance tax owed on their estates when they pass away.

    For example, if a person transfers assets into a trust while they are still alive, they are no longer considered the owner of those assets and therefore those assets are not subject to inheritance tax when the person passes away. Instead, the assets are held in the trust and distributed according to the terms of the trust agreement.

    It's important to note that every country has different laws and regulations regarding inheritance tax, and the use of a family trust may not be suitable or effective in all situations. It is recommended to seek the advice of a professional financial advisor or estate planning attorney to determine the most appropriate strategy for your individual circumstances.

* Upcoming FTA with UK, US, Canada and EU

    The upcoming Free Trade Agreements (FTAs) with the UK, US, Canada, and EU have garnered significant attention in the financial community. These agreements have the potential to greatly enhance trade and investment between the participating countries, thereby creating new opportunities for businesses and investors.

    For example, the agreement with the EU could provide Indian businesses with better access to the vast European market and could lead to increased investment flows into India. However, these agreements also raise concerns over the potential impact on certain sectors, such as agriculture, which could face increased competition from foreign producers. Ultimately, the outcome of these FTAs will depend on the specific terms and conditions agreed upon, but they are certainly an important development to watch in the coming months and years.