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Our Bureau

The product will profile its customers, assess their risk profile, perform a portfolio analysis and provide necessary recommendations.

New Delhi , Aug. 30

Birlasoft Ltd, the IT arm of the C.K. Birla group of companies on Wednesday announced the launch of its wealth management product, Birlasoft Advisor +, which is targeted at financial advisors to provide clients with analysis specific to their individual portfolio.

With the financial services of Birlasoft contributing 40-45 per cent of its earnings, the company is looking at providing services to cater to the increasing high networth individuals (HNIs).

Mr K. Subramaniyam, senior Vice-President, Financial Services Group said, "Banks cater to retail customers and HNIs. But for the mid-segment market the alternatives in the developing countries are not as matured as in the developed markets."

The product will profile its customers, assess their risk profile, perform a portfolio analysis and provide them with necessary recommendations.

Mr K. Subramaniyam said the software can also monitor the proportion between equity and mutual funds and recommend to the client if it needs rebalancing. It will use graphs and pie charts to detail asset allocation and the performance of individual portfolio vis-a vis the market. While it is priced at $5000-10,000 per wealth manager in India, the cost per licence in Asia Pacific countries would be around $10,000.

Expecting direct revenue of 1-2 million by licence selling and close to $5 million globally by indirect selling in the first year, the company is currently focussing on markets in India, Asia Pacific countries and the US.

The product will be officially launched in Singapore next month. In the coming months, the company will also open an additional centre in Noida with a capacity of 1500 seats at an investment of around Rs 5-6 million.

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