15 Dec Growth of Financial Assets in India
If one looks at the growth of financial assets in India between the Financial year 2016 and 2017, the impact of demonetisation stands out starkly. Cash is one of the only asset classes that has seen as massive shrinking of assets.
At 39.72% growth, Mutual Funds are leading the pack. With Mutual Fund Sahi Hai campaign and education efforts this growth rate is only posed to reach higher scales
Fixed deposits are 9.04% seems to be slipping and rightly so.
Overall growth has been very healthy for equities and unlisted equities
Current account deposits and savings deposits too have seen healthy growth but with FD growth getting curtailed it indicates high mobilisation potential into equities and mutual funds.
The message for IFAs is clear.
The opportunity is on the table for the take.
However one will have to put in the requisite effort to move the assets.