Jm Morgan Direct Sees 50% Growth

J M Morgan Stanley Direct -- the investment advisory brand of J M Morgan Stanley Retail Services -- projects a growth rate of more than 50 per cent in assets under management from its existing customer base.

Nimesh Kampani, chairman, J M Morgan Stanley, said: "Our global expertise in financial products and the capital markets is now available to individual investors and corporates through J M Morgan Stanley Direct. We are optimistic about the growth of financial services business in India and are fully committed to provide the Indian investor the best in investment advisory services."

The investment advisory brand currently has retail investors to the tune of 50,000. In the first six months of the calendar year it has mobilised over Rs 2,400. J M Morgan Stanley Direct has 40 investment advisors, 10 branches and a partner network of over 6,000 sub-brokers. The advisory brand is planning to increase these numbers to 80 investment advisors, 15 branches and over 7,500 sub-brokers and established new channels of distribution -- direct sales agents and franchisees.

J M Morgan is planning to increase the number of direct sales agents from eight to over 100 in 10 cities across the country by the end of the current financial year. The advisory service is at present available in Mumbai, Delhi, Chennai, Kolkata, Bangalore, Pune, Ahmedabad and Hyderabad.

The investment advisory process includes assessing investor needs and profile, and recommending the optimal asset allocation for the investor backed by consolidated investment statements, mutual fund and equity research.