Davit Gasparyan: We compare our role to that of a "family doctor" for finances and assets

Banks.am’s interview with Davit Gasparyan, Chief Client Relationship Manager, Wilco Wealth management company.

David Gasparyan is a finance professional with international experience in wealth management, client advisory, and strategic partnership development.

At Wilco, David strengthens client relationships and leads international initiatives. He specializes in asset structuring and advisory for UHNWI and MFO clients across Europe, Switzerland, the UAE, Armenia, and the U.S. His work includes building strategic partnerships with private banks, legal advisors, and fintech platforms, as well as driving market expansion through localized solutions. 

David holds degrees from the Higher School of Finance at Plekhanov Russian University of Economics and the University of Delaware (U.S.).

Prior to Wilco, he supported HNWI clients at international financial institutions including Renaissance Capital and Alfa Capital (Wealth Management).

- Wilco Wealth Management Company is a partner of the Fast-Forward conference, which is taking place on April 6. Can this be seen as evidence that Wilco prioritizes open discussions about business leadership in Armenia?

- Indeed. We believe that developing business leadership in Armenia requires open dialogue and the exchange of expertise.

We adhere to international best practices, adapting them to the local context. By supporting platforms like Fast-Forward and participating in similar discussions, we are working to create a business environment where leadership is built on transparency and accountability.

- Another theme of the conference is succession planning in the Armenian business. Would you say this topic is directly related to Wilco's activities?

- It is actually one of our key areas of focus. Although Wealth Management is often viewed narrowly as merely capital management, it’s actually about working with a family’s past, present, and future. We compare our role to that of a "family doctor" for finances and assets. Our approach is preventive, aimed at mitigating risks before they arise and building a foundation for a healthy financial future.

For Armenian businesses, succession planning is an important topic. We are at a historic turning point: the generation of entrepreneurs who built the country’s largest companies is beginning to consider passing the torch. It is important to understand that business succession is not only about the legal transfer of shares. It's about establishing a sustainable structure that allows a founder's life's work to endure beyond their lifetime and continue benefiting Armenia. To us, succession means transferring assets, preserving family values and traditions, and structuring the business for the transition to the next generation.

We work with families and family offices, helping them manage finances and other assets, such as businesses or real estate. We consider global trends while maintaining an in-depth understanding of Armenian cultural nuances and business practices. Our goal is to help different generations find common ground and work together to develop the family business, ensuring its resilience for years to come.

- How important is wealth management for Armenia, and what growth prospects do you see?

- Armenia has a stable and developed financial system. Over the last 30 years, the country has experienced no bank defaults, and its banking assets exceed its GDP—a characteristic shared by only about 50 countries worldwide. Against the backdrop of the recent rapid growth in brokerage services, the demand for high-quality wealth management has become the next logical step in the market's evolution.
 
This process is inextricably linked to the generational shift. Worldwide, the culture of managing family wealth has been established over decades, and in some cases, centuries, forming a solid foundation for legacy transfer. Today, a new generation of heirs with a global perspective is entering the picture in Armenia, and wealth management is becoming an essential tool for institutionalizing the transfer of capital.


Another powerful growth driver, in my view, is our solutions for the Armenian diaspora. We are developing a robust infrastructure that allows Armenians worldwide to integrate their assets into the secure jurisdiction of their historical homeland. Armenia is becoming a safe haven for them—a place where wealth management services align with global industry standards while remaining deeply connected to our national roots.

- Wilco underwent a rebranding in 2025. Should we expect this year to be a milestone for client base growth and the expansion of your service portfolio?

- Although the company has a long-standing presence in the market, we have undergone a large-scale transformation over the last few years. Today, Wilco is entering a qualitatively new phase of its development.

We are not only helping clients grow their capital but also expanding our suite of services—introducing solutions that were previously available primarily in major international markets. For us, Wealth Management is about more than just investments. We also provide support with capital structuring, tax and legal matters, and other critical aspects of asset management.

Through our partner network across various countries, we can address a wide range of needs: from facilitating real estate transactions to more personal requests, such as selecting international medical clinics. Ultimately, we act as a single partner, helping a family manage their assets and protect their interests holistically.