ASK Group to foray into insurance broking next month
ASK Group, a financial service provider today said it plans to foray into insurance brokering business.
By PTI |
NEW DELHI: ASK Group, a financial service provider today said it plans to foray into insurance brokering business.
"We have already applied to insurance regulator IRDA for license and hopeful of getting clearance by the end of this month," ASK Wealth Advisors Ltd CEO Rajesh Saluja told reporters here.
The company would set up a separate subsidiary - ASK Insurance and Risk Advisory for the broking business, he said.
Meanwhile, the Group started its Wealth Advisory and financial planning business in Delhi which targets high networth investors.
The vertical would provide customised solutions and end-to-end (advisory & execution) services to HNIs, families and trusts, he said.
It would use a six-step approach in financial planning to help clients to meet their life goals through proper management of finances, he said, adding through adoption of open product solutions architecture offering a wide range of investment solutions across all asset classes including mutual funds, art, equity & IPO advisory and portfolio management.
The company expects the clientele to go up to 2,500-3,000 in the next three years, he said mentioning the asset under the management is likely to grow to USD 3-4 billion.
It has already started the operations in six cities including Bangalore, Coimbatore, Chennai, and Delhi, it said, adding in the next three years would expand to other 21 cities.
The group which is into also the portfolio management services business manages asset over 500 million dollars for domestic and overseas clients.
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