Motilal forays into wealth management

Motilal Oswal Securities on Monday launched its wealth management business to cater to the growing demand from high networth individuals (HNIs) for expert third-party handling of their finances.

The new business, floated as a wholly owned subsidiary of the financial services major, has been christened Purple, signifying wealth.

"Purple is our endeavour in providing our HNI customers with a refreshing new approach to wealth management," Motilal Oswal Securities Chairman and Managing Director Motilal Oswal told reporters here.

"Our approach will be holistic and completely customised to the customer's needs," he said, adding it was also an opportunity for Motilal Oswal Financial Services (MOFSL) to create a separate, complementary brand in the financial services segment.

The business profile of MOFSL, coupled with the skill sets of the investment banking team, Motilal Oswal Investment Advisory (MOIAPL), makes it possible for Purple to offer across-the-board financial services covering international and local capital markets, besides M&A advisory, private placements and restructuring advisory and implementations.