Bajaj steps into personal finance

Bajaj Finserv Ltd has launched Bajaj Finserv Wealth Management to provide financial planning concepts and tools for assisting the middle class in making informed decisions for their saving and investment needs.

Sanjiv Bajaj, managing director of Bajaj Finserv, said the new brand would be under the Bajaj Financial Solutions, a wholly owned subsidiary of Bajaj Finserv.

“The company has started offering personalised solutions to its clients through a network of four branches in Pune, Aurangabad, Chandigarh and Ludhiana and would open 11 more branches in the next financial year in the tier-I and tier-II cities,” said Bajaj.

He said it is for the first time that the middle-class segment is being tapped in the country.

“Till now, such services existed only for the high net worth population who were willing to invest significant sums of money for customised advice,” Bajaj said.

The service will be offered to customers for a annual fee of Rs3,000 and the customer has the option to continue availing this every year by paying the same amount annually.

Analysis is carried out to help clients with their existing investments and prepare their financial plan that includes investment recommendations and simulations of their future financial position.