Baat Faayde Ki
Profitable relationships with Fullerton Securities
The Indian economy is the third largest economy in the world today in terms of purchasing power and is expected to touch new heights in coming years. As predicted by Goldman Sachs, the Global Investment Bank, by 2035 India would be the third largest economy of the world just after US and China. It will grow to 60% of the size of the US economy.
With positive indicators such as a stable 8-9% annual growth, rising foreign exchange reserves, a booming capital market and rapidly expanding FDI inflows, India has emerged as the second fastest growing major economy in the world.
The number of Indian dollar millionaires jumped 22.7 per cent last year to 123,000, which is the highest percentage growth in the world for the year, followed by China where the number of high rollers jumped 20.3 per cent to 415,000, said the 12th annual World Wealth Report which was released on 25th June, 2008, prepared by United States investment bank Merrill Lynch and information technology group Capgemini.Within this growing number of USD millionaires & affluent customers there are a number of banks and Wealth Management entities that are focused on this High Net Worth segment. However in the middle income segment customer needs are given lower priority and product-centricity prevails.
According to an estimate by a leading agency, one of the fastest growing segments in India are households in the mass affluent segment. There are upwards of 22 million households in this segment and this category is expected to grow at a CAGR of 20% for the next 5 years. The revenue pool of this segment is expected to cross USD 8.9 billion by 2011 as per the agency's estimates.
This large rapidly growing segment requires execution excellence and differentiated delivery. Fullerton Securities' strategy is to address the current gap that exists in terms of coverage and penetration of financial products and services, by building a customer–centric, relationship–based business model focused on serving the large under–served customer segments, in–line with the unique value proposition for the Mass Affluent and Lower Affluent customer segment which was identified through market research.
FFH's product centric approach and India's regulatory desire to ensure product suitability and appropriateness is the Fullerton Securities product model.
Fullerton Securities was launched on 6th April, 2009 with 10 Financial Centres across 9 cities in India.
The core of Fullerton Securities offering is Financial Planning by actively listening.
Fullerton Securities aims to be a relationship focused organization which understands customers' needs and provides solutions and not just products by listening to its customers.
Fullerton Securities plans to offer maximum value and an integrated offering through:
- A need based & relationship centric approach
- Online view of entire relationship through performance measurement tools
- Dedicated touch points – Call Centre, Website & Financial Centres
- Support team of RM's and Product Sales Specialists
- Superior advisory and execution capability
- Offering a full range of 3rd party & proprietary financial products
- Unbiased and superior financial planning
- Certified and trained RMs, to offer competent, problem free and timely service
with empathy & care, while ensuring suitability to customer needs at all times.
The product range includes:
• Financial Planning
• Equity Account
• F&O
• Investment Products - Mutual Funds, GOI Bonds & Company Fixed Deposits
• Life Insurance
• Health Insurance
• Vehicle Insurance
• Home Insurance
• Travel Insurance
• Equity Research
Mr Pallav Sinha
CEO