Bajaj Finserv forays into wealth mgmt

Bajaj Financial Solutions Limited, a wholly-owned subsidiary of Bajaj Finserv Limited, announced its foray into the wealth management business.

The new entity — Bajaj Finserv Wealth Management — would provide long-term financial planning services to middle-class investors.

“The bouquet of services are available to clients for a flat fee of Rs 3,000 and the customer can continue to avail of this every year by paying the annual service fee. The client enrolment process is focussed on the needs of the customer and is compliant with the Indian regulatory framework," the release said.

The company had already started operations with 150 clients, offering personalised solutions through a network of four branches in Pune, Aurangabad, Chandigarh and Ludhiana and aims to open 11 more branches in the next financial year, in Tier-I and Tier-II cities. The company would continue to expand the network over the next few years and plans to add 10-15 branches every year, said Arpit Agarwal, CEO, Bajaj Financial Solutions Ltd.