Decides to focus more on the middle-class.

K.R. Srivats

New Delhi, Feb. 23

Fullerton Securities and Wealth Advisory Ltd (FSW), which focuses on wealth management products for the mass affluent, plans to expand presence to 20-25 towns in a year from the current 12 towns, its Chief Executive & Managing Director, Mr Pallav Sinha, has said.

Plans were afoot to scale up its headcount to 600, from 400, in the next two months, Mr Sinha told Business Line here, adding that the company aimed to be among the top five players in the wealth management/broking business in the next four or five years.

In a year, FSW is looking at a headcount of about 800-900 people, he added.

Fullerton Securities and Wealth Advisory started operations in May 2009 and is part of Fullerton Financial Holdings Pte Ltd, a wholly-owned subsidiary of Singapore-headquartered Temasek Holdings, an Asian Investments House.

The wealth management and broking market is a growing but fragmented one.

FSW has decided to focus on those with an annual gross income of between Rs 5 lakh and Rs 25 lakh.

“We realise that the mass market and the mass affluent segment will grow in the next 10-15 years from a wealth management perspective. There is opportunity to provide a full suite of products,” Mr Sinha said.

He indicated that FSW would in the coming years look at offering portfolio management services in India, especially for the middle segment.

“Our intent is to focus lot more on people who have not optimised on their asset allocation, who don't do equities, but can benefit from it. It is long-term play. We don't just chase the heavy user in equities, but also people who have the potential to invest. In a sense, offering wealth management services to the middle class,” Mr Sinha said.

Fullerton Securities and Wealth Advisory would look at partnerships or the acquisition route to grow, although the current focus was organic growth, he added.

(This article was published in the Business Line print edition dated February 24, 2010)
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