It plans to open financial
planning centers to help investors draw up financial plans
A
leading AMC has reportedly decided to launch financial planning centers across
the country. This is going to be a fee-based business model where the sole focus
would be to make financial plans for customers.
The
goal of these centers would be to generate business through writing financial
plans irrespective of whether the AMC would generate any sale from the
financial plans made. This business would initially be launched in the metros
and would be taken to other tier one and tier two cities later. The AMC would
hire CFPs in these centers.
An
industry person wishing anonymity says “The AMC has understood the need of the
clients and is keen to provide value-addition to clients through these centers.”
Though the AMC is said to be keen to launch the new business under its own brand, at this stage, it is not clear that the AMC would be able to do so as regulations restrict the activities that an AMC can undertake.
