The Hindu Business Line : Entity for wealth management

A one-stop "financial planning and wealth management" advisory solution was promised by FPI-Padmakshi, which set up their office here to attract high net-worth individuals in Gujarat and other places.

After the merger of Mumbai-based stockbrokers, Padmakshi, with the offshore independent financial advisor (IFA), Financial Partners International, to form FPI-P, the united entity opened offices in Mumbai and Bangalore before coming to Ahmedabad. "Very soon, we will be opening offices in Chennai and Hyderabad too," said Mr Sean Kelleher, CEO and Chairman of FPI, and Mr Rohit Chothani, Director of FPI-P, at a news conference here on Friday.

FPI was formed in 2002 following a merge of six IFAs in West Asia and Far East, making it one of the largest offshore entities of its kind in the region. FPI has been providing solutions for numerous financial issues in different currencies, for different nationalities and for different tax regimes, said Mr Kelleher. FPI-P would provide independent advice on financial planning and wealth management across all sectors and to all peoples.

Each of the offices is expected to generate an annual revenue equivalent of $1 million, he added.

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