Dr. Farzan Ghadially is the Founder and CEO of VER (Vighanharta Eternal Resources) an independent Multi-Family Office (MFO) and Wealth Advisory Firm that provides holistic solutions to the HNI, UHNI for Investments, Structuring, Family Business Transition, Succession and Estate planning with offices in India and representative offices in Dubai, London and Singapore. He is also an Angel Investor, Professional Faculty at Centre for Family Business & Entrepreneurship S.P. Jain Institute of Management Studies & Research (SPJIMR). He is also a mentor and Investment Committee member at AIC-RMP (Rambhau Mhalgi Prabodhini), a leading Incubation Centre supported by the Government of India; Independent director, columnist and an author.
VER - Multi-Family Office founded upon the principles of Good Thoughts, Good Words and Good Deeds offers cutting edge unbiased professional advice to families to grow their wealth using traditional as well as alternate investment options in India and Overseas. Founded in 2016, VER - Multi-Family Office manages assets of 36 client groups in India and Overseas. With an Investment Portfolio across asset classes which include Indian Equites, Mutual Funds, Real-Estate, Startups and Crypto Currencies.
VER - Multi-Family Office specializing in family structuring, succession planning and private family trusts in India offers tailored solutions to preserve wealth, ensure smooth generational transitions and protect family interests. VER understands the complexities involved in managing family assets, relationships and legacy, and provides bespoke strategies to address each family's unique circumstances.
VER serves large affluent families in India using robust family governance frameworks that align with their values and long-term goals. Designing customized succession plans that ensure seamless transfer of wealth and leadership across generations, minimizing conflicts and legal complications. By setting-up private family trusts, VER helps clients safeguard assets, provide tax-efficient estate planning and maintain control over wealth distribution in accordance with the family's wishes. Advisory services often include facilitated family meetings, conflict resolution and education on governance best practices to nurture unity and shared responsibility. VER expertise spans across wealth preservation, philanthropic planning, business succession and compliance with Indian laws governing trusts and family estates.
India shall face USD 1.3 trillion inter-generational wealth transfer in the next decade, with a surge in Start-up exits, IPO and Private Equity windfall. There is large amount of liquidity created thereby reshaping the way wealth needs to be managed and structured in the coming years and hence giving a large opportunity for growth of family offices in India. With headquarters in Mumbai servicing clients in metro cities of Bengaluru, Chennai, Delhi, Hyderabad and Pune and Tier-2 and Tier-3 cities like Bhubaneswar, Nagpur and Surat. Working closely with business families to grow and reshape their investments and overall business structure. Helping business families in expansion, diversification and collaborating with early stage companies either as financial investors or strategic investors thereby creating core value for the family business. VER has a deep understanding of working with clients in Tier-2 and Tier-3 cities, aliening with the core family values and creating appropriate business and investment structures for overall wealth creation.
There has been a rise of Family offices in India and across the globe. It is estimated that approximately 7,300 family offices worldwide manage around USD 6 trillion of wealth. In India, the number of family offices have risen almost seven times over the past six years, from 45 in 2018 to nearly 300 in 2024.
The scope of MFOs in India goes beyond just investment management and families in India are looking at wholistic approach for growth at an inter-generation as well as at intra-generation level.
The MFO landscape in India is evolving due to several key drivers:
Growing HNI and UHNI Population
India is witnessing a surge in millionaires and billionaires, with over 1,400 ultra-HNIs having net worth above ₹1000 crore as of 2025. This growing affluent population has complex wealth management, succession and governance needs. With a global prospective in place most Indian families are looking at expansion of business overseas along with asset creation across the globe.
Inter-Generational Wealth Transfer
Massive transfer of wealth from first-generation entrepreneurs to their successors necessitates smooth governance, tax-efficient structures and family legacy planning.
Demand for Cost-Effective Wealth Management
Many wealthy families find it prohibitively expensive to run dedicated SFOs (Single Family Office). MFOs fill this gap by sharing resources and spreading costs across families while delivering institutional-grade services. With world class professional services available at a competitive cost is the biggest strength of VER - MFO.
Diversified Investment Needs
MFO clients often have investments in domestic and global equities, real estate, private equity, alternative investments, startups, and impact investing. Managing such complex portfolios requires expertise and technology.
Holistic Family Governance
MFOs support families in governance frameworks, succession planning, philanthropy and even lifestyle management thereby helping them to maintain family values and continuity across generations.
Structuring and Regulatory Complexities
Structuring of wealth keeping in mind the Indian taxation structure for maximum growth, flexibility and present composition of the family. With families having multiple streams of global income across the world, appropriate business structures are of key essence for overall tax efficient wealth creation.
Alternate Investment Avenues
Most wealth management companies in India would offer services of Investing only in the Debt Market or Equity Markets directly or via the Mutal Fund route. We offer a wide variety of alternate investment avenues some of which include structured deals in Real-Estate, Investing in Early-stage Start-up companies, Pre-IPO, Unlisted Shares, Stressed Assets and Overseas Investment avenues.
In India, the family office ecosystem has traditionally been dominated by SFOs, especially among ultra-high-net-worth individuals (UHNIs) owning ₹500 crores and above. However, with the rapid increase in the high-net-worth individuals (HNIs) segment, and a growing need for institutional-grade, wealth governance without the exorbitant costs of SFOs, MFOs are becoming an attractive and practical option. MFOs provide a balanced mix of customization, cost efficiency, professional advice, and operational scale, making them ideal for families with investable wealth ranging approximately from ₹25 crores to ₹2000 crores or more.
With the Indian economy globalizing at a rapid pace, GIFT city structure becomes an attractive jurisdiction for setting-up effective appropriate structures for business families with relaxed regulations and cross border ease. The Gift City structure for HNI families in India primarily revolves around the establishment of Family Offices as Family Investment Funds (FIFs) regulated by the International Financial Services Centers Authority (IFSCA). This structure offers HNI families a bespoke and efficient solution for wealth management, succession planning and global investment diversification. The advantages include exemption from Securities Transaction Tax (STT), Commodities Transaction Tax (CTT), stamp duties and capital gains tax exemptions on specified securities. There is also a GST exemption within the IFSC for fund management services. Families can invest in overseas financial entities easily without the usual Indian Overseas Direct Investment restrictions. The environment supports multi-currency transactions, primarily in USD, thereby reducing currency risks and enabling seamless access to international markets.
VER – Multi-Family Office works closely with families in India and NRI families with a global prospective in place with sophisticated structured set-ups designed to navigate complexity, reduce risk and preserve generational wealth with the intent of holistic growth in terms of philanthropy, in-line with the family values.
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