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Bajaj Capital, an investment advisory & financial planning company and also a distributor of financial products, has set focus on HNIs, individual entrepreneurs and young professionals to achieve three- to four-fold growth in the next three years, said Vinesh Menon, deputy CEO & head (retail distribution) of the company.In an interaction with FE, Menon said that its entry into online trading has received an encouraging response and the company hopes to more than treble the customer base to more than 1,00,000 in the next three years. "More people from tier-II and tier-III cities have been approaching us for online trading as the number of individual financial advisors has come down sharply owing to the removal of entry load of mutual fund schemes (2.5% commission on business generated) last year."With the emergence of high networth individuals (HNIs) in India, the company has decided to float 'Wealth Cafes' across the country, which will serve the HNIs exclusively. "Of course there is a huge competition among the players and all are involved in chasing HNIs. However, our customer-focused service offerings will differentiate us from others."To a question, he said, "We plan to open 'Wealth Cafes' in places where HNIs frequent. We plan to start this concept from New Delhi and then spread it across the country. We will open 25 such cafes in the next one year or so and then add in huge numbers. To make them our customers, the company will come out with a specialised pricing plan for each one."The company has shifted its focus from its traditional way to woo more youngsters with new products and services. Nearly 75% of our customers are senior citizens or above 40 years. But with our strategic shift towards the young generation, the ratio of senior citizens come down sharply to 60%.
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