The AUM of the PMS segment has more than doubled in the last five years, growing to ₹32.22 lakh crore as of January 2024 from ₹15.40 lakh crore in January 2019; PMS come bundled with curated advice, targeted mandates and access to tools that make HNIs feel they are in the co-pilot seat, says Nitin Raheja, Executive Director, Julius Baer India.