The Uncomfortable Truth about your Wealth Management Manu Awasthy(Centricity WealthTech)

Manu Awasthy spent over two decades managing wealth for India's ultra-rich at Citibank, IIFL Wealth, and 360 ONE before founding Centricity WealthTech in 2022. In under three years, he has built one of India's fastest-growing wealth management platforms, crossing ₹10,000 crore in AUM, onboarding 17,000 financial advisors across 70 cities, and raising a $20 million seed round led by Lightspeed at a $125 million valuation. In this episode, Manu breaks down why India's wealth management industry is 20 years behind e-commerce, how most PMS and AIF products fail to beat a simple index fund, and why the laziest investors consistently win. He reveals the three levels of conflict of interest hiding inside India's most prestigious wealth firms, the structural reason why every wealth manager eventually becomes an asset manager, and why he has deliberately chosen not to. He shares Centricity's contrarian B2B2C model, his risk-first founder philosophy, and his bold vision for a single-window investment platform for India's global diaspora. He shared the full story in this candid, no-holds-barred conversation with host Akshay Datt. Here is what you will learn in this episode: 👉Why 80 to 85% of PMS and AIF products underperform a basic index fund over 15 years, and what it means for every Indian investor 👉How Manu grew Centricity WealthTech from ₹20 crore revenue in Year 1 to ₹100 crore in Year 3, with 60% recurring ARR 👉The three hidden conflicts of interest inside India's biggest wealth management firms, and how Centricity is built to eliminate all three 👉Why India's passive investing penetration is near zero compared to 55% in the US, and the massive opportunity this creates 👉How Centricity's B2B2C model is turning 17,000 mutual fund distributors into full-spectrum wealth managers across tier-2 and tier-3 India 👉Manu's risk-first operating philosophy - why he says markets and geopolitics are uncontrollable, but asset allocation always is If you found this episode valuable,

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The Uncomfortable Truth about your Wealth Management Manu Awasthy(Centricity WealthTech) is an episode from Founder Thesis by Akshay Datt.

This episode is 113:37 long.

This episode was published on Apr 9, 2026.

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