The $1.1 trillion (Rs 88 lakh crore) wealth management industry, which is expected to more-than-double to $2.6 trillion (Rs 228 lakh crore), according to a Deloitte report, is seeing an unparalleled high demand for experienced relationship managers (RMs).

Sample this: Bhupinder Singh, founder of InCred Group, said he wants 300 RMs in the near-term. The demand is similar at 360One and ASK Wealth while Gautam Kalia, head – investment solutions and distribution – wants to hire 400 RMs ‘immediately.

“Wealth management is more profitable than mutual funds’ specialised investment funds (SIFs), growing significantly faster and no firm in the business is able to get enough RMs,” laments Gautam Kalia of Mirae Asset Sharekhan.

Ajay Menon, whole-time director & CEO of wealth management business at

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