India's wealth management sector is witnessing a significant shift towards multi-asset investment models, which include a mix of stocks, mutual funds, bonds, and commodities. This trend is largely driven by a growing reluctance among clients to pay solely for advisory services, especially in a declining market. As a result, firms are adapting their strategies to provide more diversified portfolios that limit risk and enhance returns. For instance, 360 ONE Wealth Management reported a 2.1 times growth in its multi-asset strategy assets, reaching ₹62,212 crore (approximately $7.5 billion USD) between FY23 and FY25. Similarly, Dezerv Investments experienced a fourfold increase in assets, rising to ₹11,244 crore (around $1.35 billion USD) and expanding its client base significantly. The increasing sophistication of ultra-high-net-worth individuals, particularly those with portfolios exceeding ₹100 crore (approximately $12 million USD), is also pushing firms to offer structured portfolio management. Regulatory changes have made the Portfolio Management Services (PMS) model more appealing, allowing for greater flexibility in fee structures and investment decisions. Overall, the assets under management in PMS have grown 1.3 times to ₹5.72 trillion (roughly $69 billion USD) from January 2024 to January 2026.