ICICI Securities has launched its investment advisory services under the new Investment Advisors Regulations of 2013 issued by the Sebi and hopes to break even in a few months, a top company official has said.
As per the company, the new advisory services covers financial planning, investment portfolio evaluation, quarterly reviews along with ongoing advisory support.
"We have launched the advisory services under which a comprehensive financial planning will be provided to customers. We are a 15-people team now, which will be increased to 25 going ahead. We hope that this new segment will be profitable in couple of months," Investment Advisory Services head Abhishake Mathur said.
He also said people above the age 35 along with those nearing retirement are showing interest in these kind of services.
The newly-launched service, which is fee-based, will advise clients to meet their financial goals. ICICI Securities offers services in investment banking, institutional banking, retail broking and financial product distribution businesses among others.