Reliance Money, the financial services arm of the ADAG Group, on Tuesday forayed into wealth management services.
The wealth management platform with a host of unique features would be available to high net worth individuals having investible surplus of over Rs 25 lakhs. Currently, high net worth population of the country is about 1.3 million which is expected to grow to 2 million in the next three years.
According to industry studies, the population of high net worth individuals (HNIs) in the country is expected to grow to over two million in India, holding over 510 billion dollar in liquid assets, by 2011.
Under the portfolio, the company would include services like tax planning and assessment, real estate, art advisory, investment in art fund and estate planning. It would also have a separate module which would cater to the financial planning needs of senior citizens.
To start with, the company plans to offer the service in 21 cities and towns in the country, he said.