Reliance Money forays into Wealth Management Services

New Delhi, July 1, 2008: Reliance Money, the largest broking and distribution house in India and part of the Reliance Anil Dhirubhai Ambani Group, today forayed into wealth management, as part of its expansion plans, completing the entire gamut of its financial services.

The launch was announced by Mr. Sudip Bandyopadhyay, Director & CEO of Reliance Money, at a press conference here on Tuesday.

So far, wealth management services in India mainly include investment in equity-linked portfolio management services, structured products, insurance and mutual funds.

"We aim to widen this definition by including Tax Planning & Assessment, Real Estate, Art Advisory and Estate Planning among others within the ambit of Wealth Management. The idea is to provide clients a comprehensive range of 'cradle to grave' services in the financial arena," said Mr. Bandyopadhyay.

Each investor will be assigned a dedicated wealth manager having access to dedicated and experienced advisory resources that allows them to design optimal asset allocation strategies (customized solutions), and provide ongoing reviews of investment performance.

With the help of its wealth managers and in-house research team, Reliance Money will target high net worth individuals and aims to create a wealth management process that extends beyond mere investments.

The company already serves the needs of lower income group through mutual funds and insurance products, and the middle income group with portfolio management services for as low as Rs 5 lakh.

Under its wealth management services, Reliance Money also plans to have a separate module to exclusively concentrate and cater to the financial planning needs of senior citizens.

The company will launch its wealth management services across India with a focus on retail clients, through its network of over 10000+ retail outlets across 5,000+ towns and cities.

"The wealth management market in India is growing faster. We plan to expand the overall pie by also concentrating on tier II and tier III cities," added Mr. Bandyopadhyay.

The wealth management services of Reliance Money will also be available to the 25 million NRIs (Non-resident Indians) and PIOs (Person of Indian Origins) through its overseas offices in UAE, Oman and Hong Kong. Reliance Money plans to expand its operations in over 15 countries spread across Europe (London), North Africa, the Middle East and South East Asia by 2009.

Industry studies indicate that there will be two million wealthy individuals in India, holding over $510 billion in liquid assets, by 2011.

About Reliance Money:

Reliance Money, a Reliance Capital company, is part of the USD 100 billion Reliance Anil Dhirubhai Ambani Group. It is a comprehensive financial services and solution provider providing customers with access to equities, commodities, mutual funds, IPOs, life and general insurance products, offshore investments and credit cards. It is the largest broking house in India with over 2.2 million customers and 10000+ outlets across 5000+ locations and endeavors to change the way investors transacts in financial markets and avails financial services. Reliance Capital is one of India's leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking groups, in terms of net worth.

For Media Queries and Details

Delhi
Sanjiv Kumar
sanjiv.k.sinha@relianceada.com
+91-9312456677

Mumbai
Tamanna Khanna
tamanna.khanna@relianceada.com
+91-9323609510

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