ANALYZING THE AWARENESS – ADOPTION PARADOX IN WEALTH MANAGEMENT A STUDY OF INDIAN NATIONALIZED BANKS

The rapid expansion of India's financial sector has underscored the critical role of wealth management services (WMS) in fostering financial inclusion. However, despite offering competitive and affordable solutions, nationalized banks struggle with low adoption rates due to a persistent awareness-adoption paradox. This study investigates the disconnect between awareness and adoption of WMS among customers of Indian nationalized banks, focusing on trust deficits, demographic-specific barriers, and the effectiveness of outreach strategies. Using a mixed-methods approach, including regression analysis and hypothesis testing, the research reveals that trust in nationalized banks (β = 0.48, p < .001) is the strongest predictor of WMS adoption, followed by service awareness (β = 0.30) and financial literacy (β = 0.20). Contrary to expectations, younger individuals (under 35) exhibit lower adoption rates (r = 0.33, p < .001), while higher-income groups show greater engagement (r = 0.37, p < .001). The study highlights the need for targeted trustbuilding initiatives, simplified product explanations, and hybrid (digital + traditional) outreach strategies to bridge the gap. These findings offer actionable insights for policymakers and banking institutions to enhance WMS penetration in India’s evolving financial landscape.