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| ASK Group forays into ‘Financial Planning and Wealth Advisory Services’ in Northern India |
- Strengthens base in Delhi and plans to increase coverage in Northern India with 7 offices
- Rapid growth of HNI base in North India which is likely to double by 2010
Delhi, September 4, 2007 - ASK Group, a leading financial conglomerate and a pioneer in institutional research and portfolio management services, today announced in Delhi that it has entered into the Financial Planning and Wealth Advisory business.
The new company ASK Wealth Advisors Private Limited will provide customized solutions and end-to-end (advisory & execution) services to High Net worth individuals, families and trusts. The company has officially opened its new office in Connaught Place, in New Delhi's central business district.
With an objective to strengthen its base in the northern region, the company will have 7 offices in the region. The company, which has already started operations in 6 cities Mumbai, Chennai, Delhi, Bangalore, Coimbatore and Vizag, will have offices across 21 cities in three years.
Speaking at the launch of the new business, Mr. Sameer Koticha, Director, ASK Group said, “The launch of the Financial Planning and Wealth Advisory business reiterates our commitment to our customers of ‘Clients’ Interests First’; and this business is another step in our march towards our vision of becoming a leading financial services player in the country. India, a trillion dollar economy with sustainable long-term growth, has more than 100,000 millionaires in Dollar terms, which is increasing by 15% every year. Our passion for our business and 25 years of experience make us one of the most competent to manage this growing wealth. There is an evident need for advisors who understand the requirements of their clients, their risk appetites and invest with discipline. What we are offering here is a relationship deeply rooted in Trust and Integrity, not a product. This is our level of commitment and intensity”.
The company will be using a unique six-step approach to Financial Planning to help clients meet their life goals through proper management of finances. It is adopting an open product/ solutions architecture offering a wide range of investment solutions across all asset classes including mutual funds, equity & IPO advisory, portfolio management services, real estate, art and structured products & private equity investments, fixed income/debt investments, risk management (life & general insurance) coupled with cash flow management. The company will provide exclusive wealth advisory solutions such as existing portfolio review & recommendations, tax & estate planning and trust services. |
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Says Mr. Rajesh Saluja, CEO, ASK Wealth Advisors, “With India's economy expanding at an average annual rate of about eight percent, the number of high net worth individuals has been growing at between 19 and 22 percent for the past two years we believe that the HNI base in north India would double by 2010 and hence see a lot of potential in this region. Financial Planning in India is not very well understood. The current market practice is to sell financial products without necessarily looking at the clients’ needs holistically. We intend to bring in a fresh and unique approach to Financial Planning through our advisors who are qualified, well trained and adhere to the highest standards as prescribed by the Financial Planning Boards in India and internationally. The process will provide clients with a roadmap to help them achieve their life goals”.
He further added, “We would play the role of an ‘asset-guard’ to our clients, as we will provide solutions/recommendations that are unbiased, in line with the needs of clients. At the same time we will be leveraging the ASK group’s research infrastructure and product manufacturing capability to create customized solutions for our clients”.
For any further information, please contact:
Amit Jugran Adfactors PR, Delhi
Tel: 011- 26930136
Mobile: 9810648598
Email: amit@adfactorspr.com
Kiran Makhija Adfactors PR, Mumbai
Tel: 022 – 22813565
Mobile: 9820937572
Email: kiran.makhija@adfactorspr.com
Ranjit Shetty ASK Wealth Advisors
Tel: 022 – 66132852
Email: rshetty@askgroup.in
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ABOUT ASK GROUP:
ASK Group in India has a strong pedigree in the financial services industry. The ASK group set up in 1983 by Asit and Sameer Koticha, is a pioneer in equity research in India and has emerged as a leader in the areas of Portfolio Management and investment advisory services where it manages over USD 500 million of assets for domestic and offshore clients. Its client base includes some of India’s richest families. It has a strong institutional equity broking desk, which caters to several Financial Institutions, Mutual funds and FII clients. With over two decades of membership with NSE and BSE, the ASK group has been true believers in the India growth story and over the years has grown hand-in-hand with its many high net-worth clients across the globe.
Over the years the group has developed independent and focused expertise in the areas of research, wealth management, investment advisory and broking services.
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