ICICI Wealth Management Account Holders Please Share your Experience.

[TheTrickySid]

What's the MAB you guys maintaining in your Wealth management account.

And what's would be the ideal mab to prevent it from getting downgraded.
Or any tips to avoid getting the account downgraded without maintaining mab.

 

[BCh]

Update:

Attached is the latest Private banking proposition, if it helps.
As per their latest terms & conditions, Wealth Management is 25L to 50L TRV.
Wealth Select is merged into Private banking. There is no separate Wealth Select segment.

Private banking starts at 50L TRV and within 1-2 years, they expect you to be at 2cr TRV. (Not mandatory though)

Everything under ICICI umbrella is counted under TRV - personal demat with ICICI and direct mutual fund investments included.

Does Direct MFs purchased from ICICI AMC considered in TRV?

 

[cardio_guycardio_guy is verified member.]

Does Direct MFs purchased from ICICI AMC considered in TRV?

Y E S

 

[kishan9]

I know that the official requirement if you include demat holdings is 15CR, but you can get a PB account opened for far lesser. You just need to show that you're interested in their AIFs and they'll onboard you. However, I did not find any real benefit of the account (dont know about people with businesses) as I didn't get EPM invite and even their "preferential forex rates" are way too high compared to other banks.

 

[Arosaurabh]

Directly open WM.. yes with 1L is also possible. I opened it about 2.5 years ago with 1L funding.. but time have changed , 5L is also reasonable

I have read so many stories about automatic WM upgrade with Sapphiro card and good Saving account balance. I have Sapphiro card for more than a year now with 8.8 L limit and saving balance in excess of >5 Lakh, but nothing has happened for me, is there something that i am missing. I don't wish to close my old account, but can this be achieved in some other way.

 

[cardio_guycardio_guy is verified member.]

I have read so many stories about automatic WM upgrade with Sapphiro card and good Saving account balance. I have Sapphiro card for more than a year now with 8.8 L limit and saving balance in excess of >5 Lakh, but nothing has happened for me, is there something that i am missing. I don't wish to close my old account, but can this be achieved in some other way.

If it doesn't happen automatically, contact your RM and ask for an upgrade. They will do it.

 

[Arosaurabh]

If it doesn't happen automatically, contact your RM and ask for an upgrade. They will do it.

He is more keen on selling business, not very helpful or knowledgeable always wants to extract rather than facilitate. So was keen to know any other way.

 

[cardio_guycardio_guy is verified member.]

He is more keen on selling business, not very helpful or knowledgeable always wants to extract rather than facilitate. So was keen to know any other way.

Change home branch through iMobile. Change RM. Talk to new RM

 

[MDFinance]

Opened Two ICICI Wealth Management Accounts for my family members yesterday with Initial Funding of Rs 1 lakh. I have Rubyx, Coral & Apay Credit Cards LTF with 5 lakh limit and privilege banking saving account.

 

[cardio_guycardio_guy is verified member.]

Opened Two ICICI Wealth Management Accounts for my family members yesterday with Initial Funding of Rs 1 lakh. I have Rubyx, Coral & Apay Credit Cards LTF with 5 lakh limit and privilege banking saving account.

Congrats. If it is OK, can you specify which city/town or which branch allowed 1L for WM? It is incredible.

 

[MDFinance]

Congrats. If it is OK, can you specify which city/town or which branch allowed 1L for WM? It is incredible.

Thanks. I opened my accounts in a semi-urban branch in Madhya Pradesh. It's just 1km away from my home. I was waiting for March end to open Wealth Accounts with ICICI as branches have their targets to meet. I talked to the Branch Manager on call and he sent a Wealth Manager to my home who processed the account opening formalities on the same day. Service was really good. He tried to cross sell their Demat but I politely declined as I prefer Zerodha over ICICI Direct.