Reliance Money launches wealth mgnt services

New Delhi, Jul 1: Country's leading broking and distribution house, Reliance Money on Tuesday, July 1 launched its wealth management services for the nation's millionaires and expects 15 per cent of its revenue from the new business in next three years.

''India has 1.3 million high net worth individuals and they are expected to rise to 2 million by 2012. So there is a huge scope,'' CEO Reliance Money, Sudip Bandyopadhyay told reporters here. Reliance offerings will include equity-linked portfolio management, tax planning, art advisory, real estate. The firm will target individuals who have investable surplus of more than Rs 25 crore, Mr Bandyopadhyay said.

UNI