In a landmark 500th episode of Daybreak by The Ken,Soumya Rajan, Founder & CEO, Waterfield Advisors, joined hosts Snigdha Sharma and Rahel Philipose to delve into a timely and often underexplored question: What does financial empowerment mean for women with wealth in India today?
From post-2005 inheritance reforms to a surge in women-led entrepreneurship and ESOP-fuelled riches, Indian women are amassing capital at unprecedented speed. Yet, a clear gap persists between traditional financial systems and women’s financial goals and values. Feeling compelled to act upon this blind spot, Soumya Rajan created HERitage, Waterfield’s exclusive segment that serves the unique financial needs of women investors. It is built on three pillars: providing financial literacy to women; aligning their wealth goals with their overarching life ambitions; and creating a network for women where they can freely ask questions about money without the fear of being judged.
Soumya discusses her proprietary T.O.U.C.H. framework, a concept developed to explain the distinctive way women approach investing:
● T – Trade less: Women tend to buy and hold investments for the long term, allowing the power of compounding to work in their favour.
● O – Orientation to Goals: Women always invest with a clear purpose, be it retirement, children’s education, or creating a philanthropic legacy.
● U – Use of sustainable strategies: Women investors are more inclined to incorporate ESG (Environmental, Social, Governance) principles, with studies like Morgan Stanley showing that 84% of women prefer ESG-aligned portfolios, compared to 67% of men.
● C – Conscious decision-making: Contrary to the myth that women are risk-averse, they are actually risk-aware. They read more, research more, and make informed choices.
● H – Hold diverse portfolios: Women favour diversification, not overexposure to one asset class, as a way to protect and grow their wealth.
Crucially, she also explains the importance of a wealth advisor, emphasising that they do far more than chasing returns. Advisors optimise performance while managing a spectrum of financial risks and life changes: inflation, liquidity needs, career breaks, longevity, and even intergenerational transitions. They help investors navigate the tricky nuances of markets and adapt financial strategies to evolving priorities and life stages. “It’s like peeling an onion,” she says—advisors help their clients discover their true financial goals, which often go beyond returns to include impact, legacy, and personal growth.
The episode concludes with three pieces of powerful advice from Soumya:
1. Be patient: wealth creation is a long-term journey that requires time, learning, and clarity of purpose.
2. Stay invested: chopping and changing too often erodes the benefits of compounding. Once confident in a manager or fund, give it time.
3. Use your privilege: those who inherit or accumulate wealth early have a head start. Use it to create opportunities for others and pay it forward.
The conversation revolves around myriad themes, from generational divide in wealth attitude to the different ways in which women create wealth; but these threads are underpinned with a broader, more pressing exploration: the relationship women have with money.
Click here to tune into the episode.
