According to reports, the company, which has over INR20 billion of assets under management of its wealth management team, plans to expand its customer acquisition program in wealth management and launch new products, besides investing in technology. The company has also partnered with Interactive Brokers for the execution platform.
Nirmal Jain, chairman of India Infoline, said: "We are in the midst of an economic slowdown but we see good growth prospects in wealth management and life insurance distribution businesses. We plan to strongly focus on both in the coming quarters. We have successfully launched several products in the previous quarter and have also strengthened our team.
"In the next six to eight weeks, we will be able to offer execution of overseas equities and other investments outside India on the internet."
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