HR Project

STUDY OF BEST PRACTICES IN THE
BFSI SECTOR FOR MARKETING, BRANDING
& COMMUNICATIONS PLAN
FOR ONLINE TRADING PRODUCT
Project by: Ms. Naziya Diler

dilernaziya@gmail.com
Balaji Institute of International Business (BIIB), Pune

Survey No. 55/2-7, Tathawade, Opp. Wakad Police Station, Off Pune-Mumbai Highway,
Pune - 411 033. (T): +91 - (020) - 6674 1081/ 83/ 84/ 85
Date: 22nd July, 2008

Abstract
Way2Wealth Securities Pvt Ltd is in the process of launching an Online Stock

Trading Product, for which it is undertaking this research. This project primarily
focuses on the pre-launch activities and product development recommendations for
the online trading product of Way2Wealth Securities Pvt. Ltd.
The research aimed to find out the existing market, analysing the competitive
environment, determining the target audience, suggesting product features, and
B2B & B2C communication formulations.
The four Ps namely, Price, Place, People & Promotion were studied in terms of Price –
the brokerage & other charges levied on the customer in online trading; Place –
India is taken as the market; People – the mass affluent class; Promotion – includes
the branding & communication strategy practically worked on.
The research questions were answered by studying the macro variables,

interviewing the market players and observation of existing international & within
the country practices. The analysis of the project in a SWOT pattern for all the
participants in the form of Porter’s 5 forces of competition viz, new entrants, rivalry
among existing players, bargaining power of buyers & sellers, and threat of
substitutes.
The conclusion is in the form of recommendation. The conclusion of the project was
that Way2Wealth should launch the product, offering more than just the basic
features. The add-ons can be in the form of the existing individual services bundled
to serve ancillary needs of the target audience.
Acknowledgements
2
STUDY OF BEST PRACTICES IN BFSI SECTOR FOR MARKETING, BRANDING & COMMUNICATIONS PLAN FOR ONLINE TRADING PRODUCTS
FOR WAY2WEALTH SECURITIES PVT LTD
To begin with I would like to thank
1. Mr. Hutaib Bandukwala – my mentor and guide. The first thing as a

mentor which he took care of, was getting me comfortable with my
environment. He made sure I enjoyed this project, and gained the most out of
the entire process.
The learning gained was more implicit than explicit. Humble by nature, he is a
fantastic listener, and never closed his ears to the ideas, however irrational or
impractical they may be. He encouraged me to move out of my box and
experiment with the external environment. He exposed me to as many doors
of experiences & avenues as he could.
He was patient with my work & helped me bring out the best in me. I was
made an active participant to all other activities taking place in the
department, which made my learning more than just on online trading. He
made it a point to take a feedback of my day and set me a challenging variety
of targets. Should I go in dips, he also was there to bring me out of it and set
me on my track.
He allowed and promoted my freedom of speech & thought. With the amount
of activities I have undertaken under him & the exposure received far more
than I had anticipated. If there is one thing which I wish to have learnt and
take back with me is his humility, patience & sense of humour!
2. The Top Management of Way2Wealth, namely,
a. Mr. Shashibhushan – CEO

b. Mr. Sunil Ramrakhiani – COO
c. Mr. Gentil Augustine – Head Human Resource
Despite their busy schedule, they readily provided me their time, opinions
and experiences which helped me not only understand the intricacies of
3
business but also Way2Wealth better. The interaction itself was a tacit
learning about the corporate life.
3. Mr Suresh Chauhan – A Way2Wealth branch manager, who on the request
of his head Ms. Mini Yadav, readily helped me grapple the intricacies involved
in investing.
4. The Staff of Way2Wealth, Nariman Point Branch – my acknowledgment

would be incomplete without thanking all my colleagues who add life to the
branch Nariman Point Branch of Way2Wealth (earlier the corporate office now
the regional office). All my colleagues, with whom I shared space, made
Way2Wealth a wonderful experience. I was provided with all the resources
and opportunities of interaction as available to any other employee of the
same.
Some of the important lessons, which I am taking back from Way2Wealth is not
something I can express in words.
“You all made my way into Way2Wealth and first exposure to the corporate world a
very memorable one. Thank You Everyone!’
4
Overview of the Project
The following activities/ recommendations were undertaken during the project:

a. International Industry Analysis:
i. Study on Best Practices followed by International players offering
Online Trading
ii. Study on Indian players providing online trading in international
markets
b. Macro Industry Analysis:

i. Analysis of stock brokers in India and the products & services
offered by them
ii. Benchmarking of online trading products offered by brokers in
India
iii. Provided recommendation on 'way2wealth' product features,
based on the above analysis
c. Research Undertaken:
i. In depth Competitor, product Analysis, by undertaking visits to
competitor's branches
ii. Undertook Client Interface on experience with trading online
iii. Interviewed the In-house Management to understand
Way2Wealth in depth viz. key strengths of the organization, product
positioning etc
d. Pre-launch activities for Way2Wealth Online Trading Product:

i. Advertising Planning
1. Selection of web partners – understanding the variables in
advertising planning
2. Advertising Budget Planning/ Recommendation based on
proposals offered by the agencies.
3. Product Name Recommendation
4. Recommendation for Content of Brochure & Flier
5
5. Suggestions for Web Page Content Management
1) Suggested layout for webpage & features on the
web page
2) Recommended content for like Online Trading
School, FAQs, Glossary
ii. Worked on PowerPoint Presentation for the Online Trading

Product
iii. Explored options – Mock Online Stock Trading Games
e. Post Account Opening for Way2Wealth Online Trading Product:

i. Worked on content for Welcome Letter
ii. Working on Customer Service guidelines
iii. Gave recommendations for Script for Tele-callers
6
Executive Summary
The project broadly deals with the pre-launch activities of the soon-to-be-launched
Online Trading Product of Way2Wealth Securities Pvt Ltd. The project began with the
briefing session by my mentor Mr. Bandukwala on what exactly the project was
about. I was given time to first learning the basics before delving deep into the
topic. I would discuss my lessons and doubts at the end of the day with my mentor.
Accordingly, I built up my next reading and study for the project. This included
discussions with friends who were already dealing in the market.
To ascertain the practical application, grapple better the material read of the same, I
finally got down in the real market scenario. With this began my methodology
aspect, wherein I interviewed and conversed with the branch members/ customer
care executives of the various competing market players and then accordingly
varied my information acquiring techniques. The first day was very encouraging,
where most of my technical learning took place. I entered the competitors’ office, as
a student, who has just finished her graduation, and is looking at investing as an
option. We are a bunch of friends and are together planning to invest with one
agency by pouring our resources in one basket. I made it clear I do not know much
about it. Even if my queries were genuine, disclosing that I am pursuing MBA would
have put me in a disadvantageous position.
The question parameters were based on one of the previous similar benchmarking
activity undertaken. Questions were added by my mentor, which I was expected to
look out for. With each enriching discussion I had with the various relationship
managers, not only did it add knowledge about the variety of products but also the
parameters to better define by benchmarking activity (enclosed in annex).
7
The questions were memorised by the end of the second day. Yet should I have
missed out any information, I called up at the call centres or even the managers and
took the necessary details.
There were instances, where I was disappointed with the kind of interactions I had
with some relationship managers. On an average I spent about 45 mins to an hour
with each of the branch visited.
I made it a point to go to the branches or the main offices so that I could get a real-
time feel of the set-up in a financial organization & the competitors’ environment.
Also thanks to these trips (at a few places) I was shown the real-time working of the
software used by them. Another major insight was how much a relationship
manager knew about the product. In most of the cases it was disheartening, as their
knowledge on the same was very little. This was more so in the case of customer
care centres. The HDFC customer care executives were very good, and had the least
waiting time when answering my queries.
One incident at Religare was equally striking, as while I was conversing with a
relationship manager at their branch, there was a complaint regarding the
paperwork. Most of the people refrained from participation. The customer was dealt
with his executive. When I asked the manager briefing me on the same, he quietly
abstained from the entire process.
Observation: Even though the offices have been well-built and well-equipped, the
stress is on dealing with a client at his own set-up than our own offices. Reasons
could be many, like refraining exposure to other clients, or client exposure to in-
house problems etc.
After having ventured from Navi Mumbai to Malad to Fort, I felt fit enough to take
the information about the rest of the players on phone. Hence, my earlier part of the
day was spent in either looking up at the competitors’ web page or understanding
the in-house functioning of Way2Wealth, while post 3.30pm was on the phone
guised as a customer with the other players. Even while on phone, my average time
spent was 30 – 45 mins, when interacting on the same. Thus, I managed to gain
information on maximum 3 or 4 players each day.
8
There was an instance where I called up at Networthstock and was asked to call at a
variety of numbers; each one was asking me to call the other person. It reflected
their inability to deal with a new client or that they were too full with the same. It
certainly leaves a negative impression on a prospective client.
I finished the bench-marking activity and submitted the same within the first 20
days of my project.
Next I was moved to the marketing, branding and communication aspects of the
project. Here I was exposed to activities like advertising, product feature
recommendation, brochure, flier, PPT.
One of my suggestions in my early stages was the use of credit card for trading
transactions. The idea was pursued, but on verification by my mentor, it was not
found feasible due to some technicalities involved with credit cards.
The other avenue which I was able to explore was that of Mock Trading Games. For
the same, I got in touch with various software developers. The idea was followed for
a week but later had to be scraped as the costs involved were too high in terms of
both money and development time.
It was during this time that I even got in touch with mobile game developing
company. It was not pursued further. We were looking only at purchasing an of-the-
shelf game than otherwise. At the end of a week the whole idea was scrapped as we
were unable to find the right source for the same.
For the flier and brochure, I worked for about two weeks simultaneously with the
other activities. This again was scrapped and an advertising agency was being
considered for the same.
For online advertising I got in touch with Rediff, Chittorgarh, MSN & Google. A
comparison was made and sent to the management.
9
My other activities included the web page content, for which I made an online school
including the basics on investing, understanding the equities, derivatives & glossary.
An entire Knowledge Centre was made as a recommendation and submitted.
To enhance the quality of the Knowledge Centre, I was provided assistance by the
internal Way2Wealth staff, who helped me understand the basics of investing along
with the tools available to do the same viz insurance, mutual funds etc (only the
basics).
Apart from recommending product name & product feature recommendation, I also
submitted a PPT (suggestion) on the online trading product.
Towards the end, my other set of activities dealt with post account opening, viz
Welcome Letter & Customer Service Guidelines & Tele Callers Script.
To add a final touch to my entire understanding on the industry and the product,
once I was well acquainted with the product, I also had a tête-à-tête with the Top
Management, who was very co-operative & generous with their ideas & the time
they allowed me for the interaction.
When I started my project, Nariman Point Office was the Corporate Office, which in
my presence was moved to the Chandivali Estate (Andheri); Nariman Point Branch
now a Regional Office. Even though my mentor was a part of the Corporate
executives, since his functioning was from the Nariman Point Branch, I too worked
from the same place.
The interactions helped me understand not only the view of the organization from
the bottom level & middle level but also the top level.
Also, there was constant guidance by my mentor, who made sure I was set back on
track should I deviate from the same.
The overall value of learning increased as I was exposed to lot of action and activity
apart from the organizational behavioural study of a restructuring organization.
10
The chances of finding loop-holes in a dynamic organization are far little than in a
static organization. Also my tenure with the organization was too short for the same.
Yet on an overall it was an enriching experience.
TABLE OF CONTENTS
PAGE NUMBER
1. 1.1 Introduction 14
1.2 Hypothesis 18
1.3 Purpose – Research Objectives 19
1.4 Importance of Study 20
1.5 Problem Definition 20
1.6 Limitations 20
2. 2.1 Methodology 21
2.2 Setting 21
2.3 Participants 23
2.4 Procedure 24
3. 3.1 Results 31
3.2 Competitive Analysis 33
3.2.1 Internal Analysis 33
3.2.1.A. – WAY2WEALTH 34
3.2.2 External Analysis 47
3.2.2.A. – INTERNATIONAL MARKET 48
i. Charles Schwab 49
ii. E*Trade 51
3.2.2.B. – INDIAN/ LOCAL MARKET PLAYERS 53
i. Angel Broking 54
ii. Asit C Mehta 56
iii. Bonanza Online 57
iv. Dawnayday AV Securities 58
v. Geojit 59
vi. HDFC Securities 60
vii. ICICI Direct 61
viii. IDBI Paisa Builder 62
ix. IL & FS 63
x. Indiabulls 64
xi. IndiaInfoline 65
TABLE OF CONTENTS (CONTD…) PAGE NUMBER
xii. Kotak Securities 66
xiii. Major Gainz 67
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xiv. Motilal Oswal 68
xv. Networthstock 69
xvi. Reliance Money 70
xvii. Religare Securities 71
xviii. Sharekhan 72
xix. UTI 73
3.2.2.C. – CROSS SECTIONAL ANALYSIS 74
i. CNBC – TV18 75
3.2.3 Marketing, Branding & Communication 77

Activities
3.2.3.A PRE-LAUNCH ACTIVITIES 78
i. Advertising planning 78
MSN 80
Google 81
Rediff 82
Money Control 83
Chittorgarh 84
Yahoo 85
ii. Brochure & Flier 86
iii. Power Point Presentation 87
3.2.3.B WEB PAGE 88
i. Features on Web Page 88
ii. Web Content Management 89
3.2.3.C OTHER OPTIONS 90
i. Mock Trading Games 90
3.2.3.D POST ACCOUNT OPENING 92
i. Welcome Letter 92
ii. Customer Service Guidelines & 92
Script for Tele-callers
TABLE OF CONTENTS (CONTD…) PAGE NUMBER
4. 4.1 Conclusions 93
4.2 External Industry Scenario 94
4.3 Internal Organizational Factors 96
4.4 Product Features 98
4.5 Product Related Recommendations 100

4.6 Web Page Recommendation 102
4.7 Customer Care Factors 104
4.8 Branding, Communication & Marketing 105
5. References 109
6. Appendices 112
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1.1 INTRODUCTION
India followed a socialist-inspired approach for most of its independent history, with
strict government control over private sector participation, foreign trade, and
foreign direct investment. However, since the early 1990s, India has gradually
opened up its markets through economic reforms by reducing government controls
on foreign trade and investment. Also, the privatisation of publicly owned industries
and the opening up of certain sectors to private and foreign interests has proceeded
slowly amid political debate.
In the last few years, there has been a significant development in the stock markets
indicators such as market capitalization and trading value in the region following
liberalization measure. There is clear evidence that post liberalization, the markets
in India is affected by the major as well as by the regional markets in the long run. In
the short run, however, the markets appear to be independent of one another.”
(Fazal Husain and Abdul Qayyum)i
Amidst such times, development of a product in anticipation of the any upcoming

needs is inevitable. Product Development can be defined as “the overall process of
strategy, organization, concept generation, product and marketing plan creation and
evaluation, and commercialization of a new product1 . Elan describes it as, the
stages that occur from the time a business generates a new business idea to the
launch of that particular product in the market2
Product Development is a creation of products with new or different characteristics

that offer new or additional benefits to the customer. It may involve modification of
an existing product or its presentation, or formulation of an entirely new product
that satisfies a newly defined customer want or market niche.3
1 http://www.entrepreneur.com/encyclopedia/term/82414.html
2 www.business2000.ie/html/resources/glossary/p.htm
3 http://www.businessdictionary.com/definition/product-development.html
13
According to Kotler, Product levels can be understood as follows:
Product Levels
There are 4 product levels:
Basic Core
Augmented Expected Benefit
Product Product
Product
1) CORE BENEFIT The fundamental service or benefit that the

customer is buying
2) BASIC PRODUCT Converting the core benefit into the product
3) EXPECTED Set of attributes & conditions buyers
PRODUCT normally expect when they purchase this
product
4) AUGMENTED Product that exceeds the customer’s
PRODUCT expectations
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Product development is undertaken by a company as a strategy. Along with fulfilling
the unsatisfied needs of the existing market, it is to enter a new market or as a new
channel to communicate with existing or new customers. Product development is
incomplete without cost efficiency. The core aim behind any innovation is to make
the product more cost-efficient, not only for the seller but also the buyer of the
same.
“Every new method of trade offers an opportunity for economic agents to compare
its costs and benefits relative to the status quo. Such comparison motivates sorting
across market segments and reshapes the whole marketplace. The Internet provides
an excellent example: it introduces substantial search cost savings over brick and
mortar retail stores but imposes new obstacles for sellers to convey quality.” (Ginger
Zhe Jin University of Maryland and NBER & Andrew Kato, Bureau of Labor Statistics) ii.
Thus, once the product is developed, product management/ communication come
into play.
Product Management can be explained as the organizational structure within a

business that manages the development, marketing and sale of a product or set of
products throughout the product life cycle. It encompasses the broad set of
activities required to get the product to market and to support it thereafter.4
Also, when analyzing geographic patterns of trade, we find that distance continues
to be an important deterrent to trade between geographically separated buyers and
sellers, though at a lesser extent than has been observed in studies of non-Internet
commerce. We also find a strong “home bias” towards trading with counterparties
located in the same city. Further analyses suggest that cultural factors and the
possibility of direct contract enforcement in case of breach are the main reasons
behind the same city bias.”(Ali Hortaçsu, University of Chicago and NBER & F. Asís
Martínez-Jerez, Harvard Business School & Jason Douglas)iii
Something similar is observed in the trading businesses as well, where there are
players dominating a particular region over the other merely due to closer
geographic proximity.
4
http://www.businessdictionary.com/definition/product-management.html
15
For a product like trading, geographic proximity can be predicted to have an impact,
as the Indian client is still not used to the idea of virtual transactions. The reason as
that in this industry ‘trust & understanding’ is of great importance. It feels safer to
have the person dealing with your money geographically closer than otherwise.
The role of cultural bias is debatable, but can not be shunned away. There are so
many stock market players in India and each have a different key strength and
weakness. Something similar happens with the online trading business as well.
Though the level to which both these factors affect the online trading market is
debatable & yet to be unfolded.
At present, the Indian markets are experiencing a state of turmoil (or correction),
where the markets are in the worst of the bearish phases. Even though online
trading has been around for quiet some time, it was only a few months ago, when
the BSE was running in 20,000 points to win the bullish race that it really picked
pace; today drooping to a low of 13,000 odd points in BSE & 4000 points in NSE,
further dipping each day.
There are studies which reflect that an offline trading with increasing confidence
move from offline to online trading. It is often argued that the internet influences
investor behavior. Furthermore, the recent “bubble" in internet stocks are
sometimes ascribed, at least in part, to online trading. However, little is known
about how online investors actually behave. (Markus Glaser)iv Recently,
researchers have gone a step further from just documenting biases of individual
investors. More and more studies analyze how experience affects decisions and
whether biases are eliminated by trading experience and learning. (Markus Glaser
and Martin Weber)v
Thus, conflicting and complementing, today, the market as well as the players are
as unpredictable & enigmatic as the other. In such a scenario the question
pertaining to W2W is regarding the launch of its online trading product. Thus, the
project is to determine the need gap, what should be the product features suitable
for the Way2Wealth product to suit the volatile markets, along with the
communication plan for the same.
16
In a situation as such, where the basic offering is more or less the same, the role of
marketing the products becomes very dominant. In the race today, it is not only
what you sell but how you sell.
1.2 HYPOTHESIS
1. Product features of Way2Wealth product should be have the minimum
features namely,
a. Trading in Equity
b. Trading in Derivatives
c. Intraday & Delivery
d. Linkage to minimum 1 Demat Account
e. Linkage to minimum 1 e-bank account
f. Watchlists – 2 minimum
g. Portfolios – 2 minimum
h. Trade in NSE
i. Trade in BSE
j. Web based platform
2. W2W along with the online trading platform should provide other gamut
services to promote costumers to take up online trading services.
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1.3 PURPOSE – RESEARCH OBJECTIVES
The Key Issues and Facts Analyzed by this paper is:
Through this research paper, we aim to understand:
RESEARCH QUESTIONS RESEARCH OBJECTIVES

1. What does the market To determine the best practices in online
look like in Online trading? trading by surveying both local & international
best practices in Online Trading (OT)
2. Who are my To determine the nature of competition in the

competitors? existing market (competitive analysis of
Players in the Online Trading Market (OTM))
3. Why are online trading To determine the needs for online trading
products needed? products (OTP)
4. Where do the existing Benchmarking of Way2Wealth Products

products of Way2Wealth
stand?
5. What features do I need To determine the Structure of Product features
to provide?
6. How should I To determine the marketing & communication
communicate to my target plan for launch of W2W online trading
audience?
1.4 IMPORTANCE OF STUDY

18
The beneficiaries of this study will be strategic planning groups, marketing groups &
executive managers in the online trading business.
1.5 PROBLEM DEFINITION
i. To determine the product features for the new online trading product by
Way2Wealth
ii. To determine the marketing, branding & communications plan for the online
trading product
1.6 LIMITATIONS
A major limitation with the existing literature is that there is very little study on the
Indian markets, thus, though they can be accepted to a certain extent, they can not
be 100% verified.
2.1 METHODOLOGY
19
The project was broadly structured to have an in-depth market analysis of the
existing players so that the strategies on the same could be tapped and used as an
advantage when launching the online trading product for Way2Wealth.
To undertake such a study, I was first given time to understand the market and its
functioning and so on. Having met the primary criteria after a week’s study, I went
out for the market research, guised as a customer. The basic guidelines were
provided to me by the organization from previous benchmarks on the same. With
exposure, I was allowed the freedom and flexibility to add-on the parameters.
With the feedback session, everyday, by my mentor I was soon able to answer most
of the critical questions pertaining to the product.
To keep up my enthusiasm and my agile mind, he further added responsibilities,

which otherwise were not a part of my project, along with the every-day operations,
which would not necessarily fall under an intern’s project.
2.2 SETTING
Broadly put, the methodology adopted for the entire project tenure, was
observational, case study. The tools used for the same were interview &
observations made in the natural settings. All tools were used in a matrix format,
such that some of the information received would help verify any prior obtained
information.
The secondary sources of data were customer care centres, relationship managers,
Management of Way2Wealth, newspapers, web pages etc. The books and web were
little sources as most of the data I collected was from the real market itself.
To begin with, the first two weeks were spent in the trying to understand what is
online trading and the market scenario. Articles printed online were used for
reference as well. Apart from that, help was sought of people who understand the
online trading business. It included a few friends, relatives, online help and my
mentor to clarify the doubts as and when they arose.
My mentor guided me with the nature of questions which was supposed to be
enquired on in relation to Online Trading Products. With his assistance, I was able to
20
draft a structured questionnaire. Yet it is important to note, that the questionnaire
was only a pointer. The answers were to be sought not as a market researcher but
as a customer. So it was similar to that of an interview than conducting a structured
questionnaire.
As and when I found pointers/ parameters, I added them on to the list. If I missed
getting the information from the previous organization, I would go and collect it from
them over the phone later, when clarifying doubts about the product. Thus, it was
an inductive research process.
Going into the details, I managed to meet the relationship managers of quiet a few
players. Once I got a hang of the entire game, I managed to ask questions on my
own, without any assistance of a written question paper. One of the successes was
when after a week of this exercise, I indirectly confirmed to the person on the other
end of the phone that I am not a novice in the industry. By the time that stage
arrived there was no need to portray myself as a novice customer. My interactions
made me come across as a trader. The other advantage in this situation was that
the telephone was the means of my communication.
The benefit of this methodology was that I could gradually improve on the entire
information collection procedure, considering, the entire project was undertaken by
a single student in a city as wide-spread as Mumbai.
2.3 PARTICIPANTS
21
The players I have taken in my study are:
International Indian/ Local Cross-Competition
Charles Schwab Angel Broking CNBC18
E*Trade Asit C Mehta
Bonanza Online
DawnayDay AV
Securities
Geojit
HDFC Securities
ICICI Direct
IDBI Paisabuilder
IL&FS
Indiabulls
IndiaInfoline
Kotak Securities
Major Gainz
Motilaloswal
Networthstock
Reliance Money
Religare
ShareKhan
UTI
Apart from these external participants, the internal participants were the employees
& Management of Way2Wealth Securities Pvt. Ltd.
2.4 PROCEDURE
The methodology undertaken for each of them is as follows:
a. International Industry Analysis:

i. STUDY ON BEST PRACTICES FOLLOWED BY INTERNATIONAL PLAYERS OFFERING ONLINE TRADING:
The entire study is more or less like a case-study undertaken to understand
the trading market practices on a wider spectrum. To understand the best
practices offered, I studied the two prominent players namely Charles
22
Schwab & E*Trade. The study was more or less an observational one, where
my source of data was internet. To understand this cycle better I had even
ventured into understanding the forex trading portal.
II. STUDY ON INDIAN PLAYERS PROVIDING ONLINE TRADING IN INTERNATIONAL MARKETS:
During the entire tenure of my project, I made it a point to visit some or the
other portal of the local/ international market players. It was during one
such occasion that I registered on E*trade to trade in the US markets.
It was after a week or so, when I received a call from IL & FS, a sub-holding
of E*Trade (now taken over by HSBC). They explained me the entire process
of trading in the US market, the benefits of the same. It was more or less
like a telephonic interview where even though I was supposed to be the
customer, was the one digging out information on their product and more.
I requested a brochure (refer annexture), which was delivered to me online

in a few days. They called back with information for a week, after which
there was no response from their end.
The other company which offers this facility is ICICI Direct.
iii. LOCAL MARKET PLAYERS:
When I entered the offices of the competitors, I made portrayed myself as a

first timer interested in investing in the market. To begin with this, I first
went to Asit C Mehta, office located in Belapur. I wanted to experiment my
skills, needs and requirements before I enter the bigger offices. It was for
the same, that I carried my questionnaire in hand. It helped me understand
the reaction I could expect from my respondent.
23
It was not a very motivating experience, but I managed to collect their
brochures, newsletters apart from account opening details. The meeting
lasted about 45 minutes during market hours. He suspected me to be a
market researcher. The interaction was during the market hours.
With a lesson of such nature, I moved to Nerul, where I entered the

Sharekhan Office. Before entering their office, which was a small
franchisee place, I wrote down all the questions in a book and then went
ahead to interact with them.
The meeting here lasted over 1 hour. The owner could spare the time as he
was not a direct trader but owned the franchisee outlet. The person was
curious like the previous one, with the nature of my queries, as such
questions were never asked by the investor. It was here that I weaved a
story of me being a graduate, who has just given the final year examination,
and since it is vacation, looking at investing as an option. Since we were
discussing things together, we jotted down the necessary questions we
could ask. He was cordial but distrustful.
He entertained me till the end, where in I left my contact details at the

counter. He provided me information about how his product is better than
the competition, which I could use later in my conversation with those
companies. They reverted back 2 days later, with an e-brochure on the
same. It was more like a letter than a brochure.
From there I moved to Vashi to explore the brokers’ fraternity there. I went
to IL&FS branch located there. By the time I reached, the markets had
closed. So the concerned person was able to give me proper attention. He
was an earlier employee of Kotak, so he could offer me insights on the
same. With him, it went to about 45mins to an hour, where he even showed
me how the software works. He said he liked the idea of educating his
clients and helped me understand some more of the terminology & its
practical application. He provided insights on IL&FS vs Kotak.
24
It was the last meeting for the day, after which I visited the Way2Wealth
branch in Vashi. The person on the desk had met me in the Head Office,
hence, there was no point in disguising my purpose. I discussed with him
the reasons customers opt for online trading/ offline trading and other
information relating the business. The interaction lasted about half an hour
to an hour, interrupted with a few clients in between.
I visited 3 firms in a day. At the end of the day, I discussed the interactions
with my mentor, who would then correct me, suggest me the points where I
could improve, or just note the observations I make & assess my feedback.
The next day, my trip began with IndiaInfoline/ 5paisa.com, located in

Vashi. Since it was a visit during the market hours, I was able to not only
know about the product, but was able to see their software in action unlike a
demo. The lady relationship manager was very supportive, and made sure I
understand things better. She didn’t have a brochure or any physical
document for me to carry back. So she gave me the flier of their currently
launched plan in online trading. Her follow up was not as good, but her
communication skills were good.
My next stop was Geojit branch, at a close distance. The office layout was
very basic and the person on the desk was not customer-friendly. In fact, he
directed me to call the helpline and ask all possible details on the product.
There was very little awareness about the product. It was a disappointing 10
min interaction.
The Religare office on a floor above was my next stop. I had received a call
from their call center, as I had made an online enquiry on online trading.
The lady had said, I would get a call from someone, but nothing happened. I
visited the branch personally. The branch was a very small one. The people
seemed to have little receptivity towards any new client. When after about
10 – 15 mins I managed to meet someone, he did explain me the entire
process (the little of what he knew) in the next 15 – 20 mins. He concluded
by saying that he is not aware much about the online trading products, as
he deals in offline trades & I’l have to get in touch with the Malad branch.
25
Reliance Money, was my final stop for the day, where I spent about half an
hour discussing the product and benefits and as such. The people were
more polite & co-operative than that of Religare or Geojit. I was directed
to two different people as the information available was not sufficient with
any of the concern persons. There were 2 – 3 trading terminals located in a
small corner. That was the end of my visits for the day.
The next day I ventured out into the western suburbs of Goregaon & Malad,
Religare, ICICIDirect, BonanzaOnline, & Angel Broking.
I began my research from Religare, where I met the relationship manager

and interacted with him for over an hour. The office set up was of light
colors and not as blue as that of India Infoline. I could not relate to the set-
up of the Vashi branch with the Malad Head Office. The concerned person
was trained for HNI clients, but since he could not disregard a customer, he
did try to help me with the same (I was not a HNI client). He provided
assistance by making me interact with the concern person who specialized
in my nature of query. At a point I thought I was caught, and that he was
entertaining me just for the heck of it. But my doubt was cleared when the
same evening he called and apologised for lack of attention as he was pre-
occupied and unable to help solve my query better. He offered me the
coaching by his colleague, who could come on his behalf and explain me the
needful. I interacted with his colleague the next day, wherein the
information received was insignificant. What was important to note was the
attitude they carried towards customers. The assistance provided by
Religare is for the HNI, not really the novice who would be interested and
can not invest much at the given point of time. (annexure)
After over an hour at Religare, I left for ICICIDirect, which is located near
Goregaon Station. The layout is similar to the other ICICI branches, but it
was relatively vacant. The concern person on desk did not have much idea
about the product features in depth. The entire process finished off in 15
mins, wherein I got to see a product demo, and live features. Not much in
terms of what I had received in my interactions with the other players. I
26
collected a brochure and necessary customer care numbers from there and
left for Bonanza Online.
At Bonanza Online I interacted with an assistant of one of the relationship

managers, who briefed me on the product and the other necessary details.
She was carrying a brochure and the necessary documents when she did
that. Since the conference was occupied, I was at the reception desk for the
entire tenure. The meeting lasted for about 45 mins or so. It was my last
interaction for the day.
I wanted to visit an office of Angel Broking, located in Andheri, but it was

over 6.30pm, by the time I left Bonanza. Hence, I called up the office, where
I left my contact details.
For Motilal Oswal, was another episode by itself, where I met the
concerned representative, while on my way to Religare at the station and
happened to have a random conversation with him. He provided me with his
card for the same.
I visited his concerned branch on the next day and called him as he was
unavailable. He directed me to another colleague, who passed me to a
management trainee. As a trainee he tried his best to help me. He showed
me the product demo and the other necessary details. The session lasted
the normal 30 – 45mins. After and during which, the representative I had
met in Malad, called twice to check how was I taken care of. He did hint
disapproval at a management trainee dealing with me, which indicated his
concern to convert me as a customer than otherwise.
For the rest of the players including Angel Broking, namely, ICICIDirect,
IDBI PaisaBuilder, Indiabulls, HDFC Securities, Dawnayday AV
Securities Pvt Ltd, Geojit, Kotak Securities & Major Gainz
(Prabhudas Lilladhar (P) Ltd), NetworthStock, UTI were taken over the
phone, either by calling up a branch, or the customer care centre. The
minimum time over the phone interview lasted was 30 mins. Sometimes, it
would extend to almost an hour as the customer care representative would
27
put me on hold to collect or verify the necessary information. There were
occasions when on calling up a particular branch, the concerned person
would keep forwarding the call to some other person. On one such occasion,
my call was transferred to over 4 people with each one not ready to talk or
explain. Guised like a customer it was an irritating treatment to come
across. But as an researcher, it threw a lot of light on the situation of the
service quality and customer management.
The interaction over the telephone with an ICICIDirect representative was an

interesting one. I had called at their office after 6.00pm. The representatives
had very little knowledge about the product. The situation was as such that
they told me that they have still not finished training, which was scheduled
for the next day. Even when I mentioned that I might not look at ICICIDirect
as a potential firm for my investment for this behavior, if there was no one
to revert on the day, they did not mind loosing a customer, they were more
keen on closing the conversation and closing for the day. They did make a
small effort, but they were not enthusiastic to have a client in their wing.
Thus, on an average, personal visit or over the phone, I managed to cover

only 3 players per day. It was difficult to increase the number of people. The
personal visits gave me a taste of the set-up/ layouts in a broking/ financial
company. I made it a point to halt at a place note down my details &
observations on my questionnaire format. The telephonic conversation
helped me understand the customer care/ management aspects of those
companies.
Once I had benchmarked the products in the industry on various variables. (refer
Annex). The entire process took about 15 days, after which, I was assigned
communication & branding tasks relating to the project.
Amidst this, I had conducted a small interview with people who trade in the market.
The sample was too small to add up to any conclusions, considering the dimensions
where the product is projected to launch amongst. The construction of the
questionnaire was not up to the mark and later discarded.
28
Yet, the few responses received threw a lot of insight on how an investor thinks, and
why he would opt for offline trading over online trading or vice versa. The sample
with which I interacted was about 10 individuals. A sample question format is
enclosed in the annexure.
Obtaining information from the internal customers of was a continuous process over
my entire tenure in Way2Wealth. Most of the information obtained was either by
observation, colleagues & my mentor, who would brief me up on the entire
organization related basics. Interacting with the branch managers also provided
insight on how the organization functions to an extent. The final touch came in when
I interacted with the top management of Way2Wealth. The interaction with them
provided me a wider view on how the management envisions its strategy &
programs, while I also had a first-hand experience to the results in the regional
office (earlier corporate office) I was working in.
When interacting, I was looking at the communication gap, which could be existing
between any of the levels of the organization, apart from the questions related to
strategy, organization, markets, future plans etc. The questions asked were more or
less the same. They varied a little for the HR Head, as his domain of was specific to
the Human Resource of Way2Wealth. The management was generous with their
time despite their busy schedules. There is no place where any direct answers have
been put up. The answers conjured up come as a part of my reflection of the entire
data on the whole.
Last, but not the least, the cross-sectional variable, CNBCTV-18, was analysed
entirely externally. There was no direct contact with the organization, apart from
one small interaction, which I had during an advertisement related activity with
moneycontrol.com. The other source of information which I received on them was
merely by observing their plans & new ventures online or on television (which was
always running on CNBC-18, in my office hours). The reason why I choose it, is that I
was once hinted by my mentor that it is planning to come out with a online trading
product, which would shake up the entire industry. Assuming that it is not directly
involved into the trading business apart from the media expertise, the steps and
patterns which I observed later drew me further into it.
3.1 RESULTS
29
The results were analysed in a SWOT like matrix judging the internal and external
factors, the trade-off to which is the recommendation section. The variables selected
were further divided into Porter’s Five Forces of Competition. Viz
1) New Entrants
2) Intensity of Rivalry among players
3) Threat of Substitutes
4) Bargaining power of Sellers
5) Bargaining power of Buyers
The first three have been discussed in detail on later pages, broadly as internal,
external and cross-sectional players.
BARGAINING POWER OF BUYERS & SELLERS:

There are a large number of players in the industry, specializing in region, product,
and type of client. But, these diverse sets of sellers, when put together do not hold a
commanding position.
Some 6 months ago, this could have been the scenario as everyone wanted to dip in
the rising waters of the stock market. But in the last few weeks the drop has been so
tremendous, ignore fresh customer conversion, even customer maintenance is
becoming a challenging question for the industry. Now, the pressure to perform is
even greater. These market conditions are predicted to prolong till the next few
months or at least till the new government comes into place.
The scenario is as such, that the buyers are holding an upper hand. Though there is
such a high market potential, it can not be tapped at this point as the entire industry
is at its lows.
Every seller is playing with the numbers, while there are some who are positioning
their product as superior and charging for the same. The amusing thing is that
people are ready to pay for those products/ services, which are otherwise being
provided complementarily eg. Advisory, newsletters etc. Thus, on the surface it
appears that customers value what they pay for.
30
A mass affluent class member can be described as an individual who is earning, and
has the money but needs guidance. He neither has time for personal involvement
nor would he have similar amounts to invest like that an HNI.
This client is interested in being a part of the market. Most of the people are either
trying to pull the base market or upper market, ignoring this huge bracket, with
unsatisfied needs. Security will not be a primary concern to this client as he is
educated enough to know that these basic criterion of transactions/ processes are
looked after by SEBI.
Before commenting on the data on other players, I would first like to introduce the
organization, under whom I did my entire research. It is in the context to
Way2Wealth, that the recommendations will be given in the end.
For the competitive market analysis, a brief is given on all the external players,
namely, international players & Indian players, followed by the cross-sectional study
on CNBC-18.
31
Internal Environment
Analysis
32
Introduction
Way2Wealth is one of India’s premier Investment Consultancy Firm, launched with

the aim of making investing simpler, more understandable and profitable for the
investors. Way2Wealth brings a wide range of product offerings from Equity and
Derivatives (NSE), Fixed Income Securities, Insurance (Life & Non-Life), Mutual
Funds to Portfolio Management Services for the convenience and benefit of it
customers. Way2Wealth today has over 60 easily accessible ‘Investment Outlets’
spread across 25 major towns and cities in India. It also has another 25 franschisee
outlets
Our Mission
"to be the pre-eminent destination for personalised financial solutions helping
individuals create wealth".
Our Philosophy
We believe that "our knowledge combined with our investors trust and involvement
will lead to the growth of wealth and make it an exciting experience".
Our Logo
Blue symbolizes Knowledge.

Knowledge is limitless, so is the sky and sea, both of which are blue in colour.
Knowledge applied leads to creation of wealth for our Investors.
Red symbolizes Trust.

Red is the color of blood and the heart. Trust is a matter of the heart. Our knowledge
bears fruit only when the investor places his Trust in us.
Yellow symbolizes Excitement and Involvement of the investor.

We strive to make investing an exciting and involving experience for our investors.
Green symbolizes Growth.

Growth in Nature is visible in the form of plants and trees; all of which are green.
33
Knowledge, Trust and Excitement should ultimately lead to Growth of the investors’
wealth.
Our Heritage
Sivan Securities started in 1984, has a long and illustrious track record of being
amongst the premier Financial Intermediaries in the country as well as being an
incubator for IT start-up firms.
The Venture Capital division came to be known as ‘Global Technology Ventures

-GTV’ and the Financial Intermediary Division was spun off as ‘Way2Wealth’ in the
year 2000.
Over the years, Way2Wealth has developed a strong reputation for navigating its
investors through all the ups and downs in the market. Way2Wealth has inherited
these same values in addition to a base of 100,000 individual customers, over 500
corporate/institutional clients.
Our Group Companies

Global Technology Ventures – GTV, has provided venture capital to companies such
as Kshema Technologies, MindTree, Ivega etc.
Amalgamated Bean Coffee Trading Company Ltd. – (ABCTCL), India’s largest coffee
conglomerate and coffee exporter, pioneering India’s first concept café’s ‘Café
Coffee Day’, a chain of youth hangout coffee parlors. From a handful of cafés in six
cites in the first 5 years, ‘Café Coffee Day’ has tday become India’s largest and
premier retail chain of cafes with 483 cafes in 84 cities around the country.
The Visionary
Mr. V.G. Siddhartha – Chairman

He is the visionary behind Way2Wealth and the founder of Sivan Securities. He has
been involved in the Indian Capital Markets since 1984. During his early years of his
work-life he has spent valuable years with J.M. Morgan Stanley. This experience
stood him in good stead when he became a successful investor. Having a Masters in
34
Economics from Mangalore University, he is an avid reader and traveller with a yen
for creating companies and brands.
Mr Siddhartha’s business interests spreads across Coffee retailing, Plantations, Real

estate, Venture Capital and Financial Services
GTV today a Billion$ company, partners with exceptional entrepreneurs, who have a
gut for the original, and are passionately dedicated to building category-leading tech
companies. Investing in technology ventures across all stages, GTV provides access
to capital and resources to companies with global market leadership potential
⇒ Took over Sivan Securities Ltd, in 1984

⇒ Founded the ‘Amalgamated Bean Coffee Trading Company Limited –
ABCTCL’, in 1994.
⇒ India’s largest coffee conglomerate and coffee exporter
⇒ Largest exporter of green coffee from India
⇒ One of the two fully integrated coffee companies of Asia, involved in all
sectors of Coffee from plantations to retailing to exports Pioneered the café
concept in India in 1996 with Café Coffee Day, popularly know as ‘CCD’
⇒ Chain of youth hangout coffee parlors
⇒ Founded ‘Global Technology Ventures’ in 2000 - a company that identifies,
invests and mentors companies engaged in cutting edge technologies.
⇒ Founded the real estate company ‘Tanling’, develops world-class
infrastructural facilities for Technology enterprises.
⇒ ‘Global Village’ on the outskirts of Bangalore, housing companies like EDS,
Mindtree,
⇒ ‘TechBay’ on the oceanfront at Mangalore
Some of his large investments include: Mindtree, Kshema Technolgies, I-Vega

Consulting
Accolades
• Café Coffee Day today is India’s largest retail chain of cafes.
35
• V.G. Siddhartha is awarded the ‘Entrepreneur of the year’ – 2003 by The
Economic Times for ‘crafting a successful pan Indian brand for a commodity
business and giving Indian consumers a new lifestyle experience that is within
reach of the common man.’
• Amalgamated Bean Coffee Trading Company Ltd. today is the largest
exporter of green coffee from India and perhaps one of the two fully
integrated coffee companies of Asia, involved in all sectors of Coffee from
plantations to retailing to exports.
• ‘Coffee Day Group’ today is the only fully integrated and largest coffee
conglomerate in India and is attributed with creating the ‘coffee revolution’ in
India - acknowledged by the Coffee Board of India
• And now, he is actively involved with Way2Wealth and committed in realizing
its vision of making way2wealth 'set new standards in the retail financial
services in India'.
Our Management
• Way2Wealth has a very credible management team, who have well over 100
man-years of experience amongst themselves.
• Top quality management with over 100 man-years of cumulative experience
in the field.
• A strong leadership, respected within industry circles and recognised among
competitors as being formidable and strong, demonstrates high quality and a
visionary management style.
Mr. M R Shashibhushan - Chief Executive Officer

SHASHIBHUSHAN, age 39, has over 18 years of experience in various areas of the
Capital markets. He has done his Diploma in ‘Systems Analysis’, during his
professional tenure has completed the ‘Professional Membership Programme’ of the
Bangalore Stock Exchange, has undergone the ‘Executive Education Programme’ at
IIM Bangalore and the ‘Corporate Leadership Programme’ at ‘Orix Corporation
Tokyo, Japan to name a few.
In his last assignment with IL&FS Investsmart Ltd. for over 9 years, he started as
Head - Retail Business (Karnataka Region) and subsequently moved to its Corporate
36
Office in Mumbai to head their Retail Equities Business, which included the Branch
Network, Alternate Channels, Private Clients Group and Investments Advisory. He
started his career with M/s Ravi Associates in their Equity Trading desk, during his
career he has been entrusted and has made significant contributions in various
functional areas of Investment Advisory, Portfolio Management, Distribution of
Financial products etc. with Kotak Securities and Escort Securities, where he also set
up their Secondary Market desk.
Currently as CEO - Way2Wealth, he is in-charge of strategic planning. Renowned for

turn around, he is deploying his vast experience in charting the way forward for
way2wealth - a name to reckon in the India financial space.
Mr. Ketan Sheth – Director (Research)
KETAN is on the Board of Way2Wealth Securities Private Limited. A postgraduate and
ICWA by qualification, he has nearly 2 decades of experience in the Capital Markets.
He has earlier held responsible positions in JM Financials and FICOM.
Throughout his career, Mr.Sheth has focused on research primarily in the equity
market and has also been associated with Corporate Database, a pioneering equity
research based firm since its inception.
⇒ 25+ years of experience in the Indian capital markets
⇒ A Post Graduate with specialisation in Management and a member of ICWA
⇒ Director of Research and drives the Portfolio Management Services desk
Known in the markets for his astute stock-picking ability.
Sunil Ramrakhiani - Chief Operating Officer

SUNIL, age 35, has over 11 years of professional experience across diversified asset
class; Commodities, Equity, FX markets and Treasury management. He is a BE
(Mechanical) and a management graduate from ICFAI Business School. He is one of
the earliest base metal and equity derivatives traders in the country and has been
founding team members of national level commodity exchange.
In his last assignment, Sunil has been instrumental in setting up the Commodities
business at IL&FS Investsmart, which helped the company achieve leadership
37
position in a few commodity segments. Prior to which he was associated with ICICI
Bank Treasury in the Global Markets and Corporate Markets Advisory group in
Equities, FX and Commodities.
He was also deputed from ICICI Bank as a founding team member to conceptualise
and roll out the National Commodity and Derivative Exchange (NCDEX). In his career
Sunil has been associated with various broking and financial houses in various
functions, to name a few: Weldcraft, SWIL Ltd, Rudolf Wolff, etc.
Sunil is actively involved with the Commodity exchanges and Regulators for
development of the commodity derivatives market in India. He is a member of CII
Committee for Commodities Market & Product Committee on Exchanges. He has
been regular speaker on International derivatives conferences
Currently as COO - Way2Wealth, he would be driving business strategy and is in-

charge for trading products, including equities and derivatives in the equities and
commodities markets.
Hutaib Bandukwala – AVP – Marketing, Communications & Service Quality

Hutaib, age 32, has over 8 years of professional experience across brand
management, communications & channel development activities. He has done his
MBA in Marketing from Chetna Institute of Management, Mumbai.
Apart from being a certified trainer, he has also undertaking courses and programs
like Larry Grant’s Workshop on Account Planning/ Advertising Strategy, Personal
Development Workshops: ‘Managerial Effectiveness’, ‘Interpersonal Skills and
Effective Communication’, ‘Train The Trainer’ etc.
He began his career with IL&FS (E*Trade USA), implementing, co-ordinating and
managing the internal & external communications. In his previous assignment with
ICICI Bank, designated as Head – Product Manager (Alternate Channels to Banking),
he specializes in product/ process development solutions, channel migration,
corporate representing content management, training & conducting training
sessions apart from studying and benchmarking vis-à-vis competition.
38
Keeping track of the Financial Industry, his favourite past time includes dabbling in
Stock Markets along with his enthusiasm for nurturing sports.
Currently as AVP – Marketing, Communications & Service Quality - Way2Wealth, he

is in-charge of offline & online responsibilities, communication within and from the
organization, along with maintaining PAN India service standards.
Our Products & Services:

Services and solutions that cater to the retail and institutional investors at large that
encompass primary and secondary market instruments:
1. Equity Trading
2. Derivatives Trading
3. Commodities Trading
4. Distribution Services: IPO’s, Mutual Funds and Fixed Income products
5. Advisory services: Asset Allocation Planning and End to end personalised
investment management services for Wealth Generation, Retirement
Planning and Capital Build up at different stages of life.
6. Wealth Management Services: Portfolio Management Services
7. Online Services & Tools - Online Trading, Portfolio tracking in-depth research
reports and much more.
8. Insurance Marketing – Life and Non-Life Plans
9. In-house Research & Analytics Depository Services
10.Tax planning
Organizational Structure:
Way2Wealth is Head Quartered at Bangalore. It directs the Corporate Offices in the
various major cities of India. Their regions can be broadly stated as Karnataka,
Andhra Pradesh, Tamil Nadu, Mumbai & Delhi.
The corporate offices of these regions, manage the regional offices under them,
depending on the density of branches & franchisee network in that region. It has
more than 80 investment outlets in more than 25 major cities and towns.
39
Predominantly a south-based fan following, it is now moving north.
Way2Wealth is one of the dream children, which Mr. Siddhartha due to his other pre-
occupations, was unable to nurture to the fullest, keeping its scope limited to the
southern region.
The management was revamped and a new life was enthused about 8 months back,
by bringing in an entirely new team of industry experts to speedup up the tiger once
again.
The expertise of this management is evident not only in the profile which describes
them, but the activities undertaken by them. Within a span of 8 months, they have
increased their clientele by over 100%.
On the other hand, the employees have been increased from 375 to over 800 in the
same time-frame, while it is still acquiring newer & newer employees.
These statistics are noteworthy, when the financial industry is at its lows & expected
to sink further in the short-term.
It proudly states & nurtures their man power is their real strength, which makes it an
exceptional organization over competition.
Planning for the long term, not only are they acquiring newer and newer employees,
but are adding more strength to the organization by revamping the structures and
setting in more futuristic processes.
With growth, they are ensuring transparency. The best example for which is the
‘EMPOWER’, a process software, which helps increase transparency as the company
is growing in leaps and bounds. It is an open forum, where the employees can
communicate with each other, between all departments, and any levels without any
intermediary affecting the communication.
Apart from that, changes have been brought in the appraisal system eg. Earlier the
appraisal points/ benefits were given only to the employee who introduced the
40
client. Now it has been broken down on 3 levels – introducer, converter &
maintainer; which motivate the employees to bring in more business and makes
them believe to be a part of the organization’s success.
The management strongly believes in putting in processes, such that the

organization can function without the leaders. The structures have been designed
such that their own set of flexibility to motivate and nurture the growth of the
organization as & when required.
The organization has been client-centric rather than profit centric. It is now looking
at avenues to serve a larger segment of the ignored population. They encourage the
HNI (High Net-worth Individuals) as well as the lowest income level masses. But they
are more concentrated on the individuals generally termed as the middle class, who
wish to invest but due to lack of guidance and demanding work pressures are
unable to do so.
It is to serve the needs of this segment, who have largely been ignored,
Way2Wealth is creating more and more facilities. It is also looking at institutional
business as a future avenue. It may appear like a niche, but it is these masses which
they are concentrating on.
Product Structure:
Way2Wealth is deeply penetrated into Retail Offerings, while it is working on the
Institutional Verticals.
Broadly, their business is a Retail Business unit. Under the Retail segment, they
have 4 major verticals, namely, Trading, Distribution, Portfolio Management &
Advisory.
Trading includes equity, derivatives & commodities. At present it is an offline expert,

soon moving into the online business as well.
Distribution consists of third party products, like IPO’s, Mutual Funds, Insurance. It
has acquired various awards, from the AMC’s for their performance in this vertical.
41
Portfolio Management Service (PMS) is another structure, which is a much deeper
and focused version of Mutual funds. It concentrates exclusively on the client needs
by reducing the risk and maintaining & increasing gains of the customer.
Advisory, though has been put as a separate vertical, it is the core foundation of
Way2Wealth. It is a pillar on its own, while it supports the other verticals with its
expertise. Advisory otherwise is provided for activities like ‘buy & sell’, tax planning
& risk profiling as well.
A sought out output of the Advisory Cell is the monthly investor’s magazine, ‘Wealth
Compass.’ It encompasses all the current happenings, and the news of the month
into a compact analytical format in reader-friendly language. (refer annex)
Unique Investment Outlets

Way2Wealth Investment outlets are designed to be places where retail investors can
come in touch with Investment opportunities in an atmosphere of convenience and
comfort. The look and feel of the offices across India projects a consistent branch
image for the company. The features that enable a unique facility for retailing
financial services include among others:
• Easily visible branches set up in the commercial spaces of potential

investment zones ranging between 750sft to 1000sft
• Most branches are located in the ground floor sporting huge glass frontage
promoting easy accessibility and reflecting our attitude of complete
transparency.
• The major portion of the branch area dedicated for customer use. The
furniture is in CKD formats to add flexibility in using the branch for Investors
purposes.
• Connectivity to NSE for trading facilities.
• TV and other electronic mediums to facilitate real time update and
dissemination of information to our customers.
Each branch comprises of trained and qualified Investment advisors to take care of
the needs of the customers.
42
Research Desk
Research is at the core of our advice. We believe that sound investment decisions
are made on sound analysis of facts, past performance and credible market
information. Our research cell focuses on providing data and analysis to help
customers make sound investment decisions.
The Research cell is managed by a highly qualified team that is handpicked and
trained extensively in the proprietary Way2Wealth Investment Philosophy centered
on finding the best investment solutions for our customers. Based in the commercial
capital, enables the team to have a pulse of the trends allowing dissemination of the
most up-to-date and latest information.
The Way2Wealth research cell measures up to international standards of technology

and on-site resources.
The Way2Wealth Planner – Your Personal Investment Guide

Every investor has unique needs. So we have created a wide range of services,
where you will always find exactly what you are looking for. Aiding you in this effort
is the quintessential Way2Wealth Investment Planner. These hand-selected planners
are made up of professionals with the expertise and experience to meet your unique
financial needs. These financial planners reflect our commitment to provide financial
advice based solely on your objectives without traditional conflicts of interest.
When you choose a planner from the Way2Wealth network, you’ll get professional
help in the following areas:
• Personalized Investment plan for your short term, medium term and long
term goals
• Expert advice on Investment products ranging from” the Fixed Return
Investments and Life Insurance to the highly volatile Shares and Derivatives
• Avail Tax saving, Retirement planning and VRS investment services
• Facilitate Equity, Derivative and Commodities trading, Initial Public offerings
(IPO) of Companies, Mutual funds and Make investments Government of
India/Infrastructure Bonds
• We also have a specialized team catering to the distinct needs of our
Corporate and Institutional clients out of our five regional offices.
43
The Way2Wealth advantage!
• Personalised Investment Solutions: All our customers receive individual
attention
• Full choice of Investments: Mutual funds, Life Insurance, Fixed Income
Instruments, Equity and Derivatives
• Processing support: We take care of all your paper work and provide
service at your doorstep.
• Investor eligibility criteria: Customers with a minimum investment amount
as low as Rs. 5000 per month can avail of our services.
This unique Way2Wealth concept can be easily experienced through the innovative
and customer friendly network of 80 Investment outlets that spans 25 major towns
and cities in the country (and still growing). In addition to the national branch
infrastructure, Way2Wealth also has an online presence to enhance its value
proposition to its customers.
• Established Brand – 20+ years in the financial services industry

• Rich pedigree - part of the billion$ ‘Global Technology Ventures (GTV)’ group
• Top quality management – having a combined experience of 100+ years in
the financial services industry
• Network of 60 full service branches covering 25 Indian cities/ towns
• Reputed Research Desk for Fundamental & Technical analysis
• Structured product offering for HNI & Corporate clients
• 100,000+ client acquaintances (30,000+ satisfied retail relationships)
• Over 3000+ channels partners
• 750+ wealth managers across the country
• Dedicated ‘PEG & PCG Desk’ for servicing HNI clients
• Exclusive ‘Corporate Advisory Desk’ catering to key corporate clients
Management View:
The opportunity to interact with the management threw a lot of light on the Vision &
Mission set to be achieved. There is profound consistency in the minds of the top
management about goals set to be achieved.
44
My knowledge about Way2Wealth, was limited to the Regional Office at Nariman
Point. The interaction with the top management gave me a great insight on not only
the minds of the employees but the management as well.
It was difficult for me to ignore the tremendous energy and passion the
management team carries & inspires. It does reflect volumes on the results
anticipated by the visionary who brought them together.
The top management is endowed with an inner strength, agility, clarity of thought
and the ability to know & do as in the mind of other team members. Their age in
years brings in the energy & flamboyance, while their years in experience not only
brings in but reflects their expertise, for the position they hold.
Above that, there is an increasing level of transparency along with the re-freshed
systems/ processes which are being put into place, gradually.
Where, Mr. Shashi Bhushan, knows his target and hits it with precision; Mr.Sunil
Ramrakhiani is an expert with the inner intricacies of the business supplemented
with his tacit inspection of the external environment. Where Mr. Hutaib Bandukwala
is manoeuvring the messages sent out of the organization to suit & reach the
desired goals; Mr. Gentil Augustine & his HR team is proficient in understanding &
building the real strength of Way2Wealth – Human Resource, nullifying the
negative impact of the restructuring; together building a team and setting in a more
dynamic work-culture.
Our Key Offices

Registered Office Corporate Office
Raheja Paramount, 4072-75, 4th Floor, B-Wing,
138, Residency Road, Oberoi Gardens Estate,
Bangalore – 560025 Off. Chandivli Farms Road,
Karnataka Chandivli, Andheri (E).
India Mumbai - 400 072.
Ph: (080) 2212 1512 Ph : (022) - 4084 3900.
45
External Environment
Analysis
46
International
Players
47
Established with a core purpose to help everyone be financially fit, such powerful
words come from one of the most popular online trading portals - Charles Schwab.
For the market frequenters it is no new name.
Headquartered in San Francisco, Charles Schwab and Co., Inc. was launched in 1973
and began offering discount brokerage on May 1, 1975. The Charles Schwab
Corporation was incorporated in 1986 and conducted its initial public offering in
1987.
The Charles Schwab Corporation provides securities brokerage and financial services
to individual investors and the independent investment advisors who work with
them.
It boasts of a client account of 7.2 million client brokerage accounts, 1.3 million
corporate retirement plan participants & 344,000 banking accounts.
CORPORATE STRUCTURE
Through its operating subsidiaries, The Charles Schwab Corporation (Nasdaq:SCHW)
provides a full range of securities brokerage, banking, money management and
financial advisory services to individual investors and independent financial
advisors.
The corporation includes three primary business segments:

1 2 3
Schwab Investor Schwab Institutional Schwab Corporate &

Services provides custodial, Retirement Services
serves millions operational and administers retirement
of individual investors, trading services for more plans, equity
savers and borrowers than 5,000 independent compensation plans and
through the schwab.com investment advisors. other services for
website, phone services companies of all sizes.
48
and more than 300
U.S. branch offices, plus
international and
multicultural services.
HEAD QUARTERS
Schwab Corporate Headquarters
101 Montgomery Street
San Francisco, CA 94104
BUSINESSES
Charles Schwab offers financial products and services tailored to fit the needs of
individual investors, independent investment advisors and companies of all
sizes.
For Individuals and Families

Investing: Clients with a Schwab One® brokerage account can trade stocks, bonds,
options, mutual funds and other securities.
Advice & Consultations: Either at a local branch or through our toll-free phone line,
investors can receive fact-based guidance from an experienced Schwab
investment professional
For Employers
Schwab helps companies of all sizes manage their retirement plans, stock plans and
executive services.
Banking & Lending:

Schwab Bank offers the High Yield Investor Checking bank account plus credit cards
and other lending products.5
5
¹ Charles Schwab & Co., Inc. and Charles Schwab Bank are separate but affiliated
companies and wholly owned subsidiaries of The Charles Schwab Corporation. Brokerage
products and services are offered by Charles Schwab & Co., Inc., Member SIPC. Deposit and
lending products and services are offered by Schwab Bank, Member FDIC and an Equal
Housing Lender.
49
Millions of people worldwide rely on E*trade for an unbeatable combination of value,
Ease & security. It is a pioneer in online financial services for 25 years. Over 4.8
million accounts in 40+ countries. $174 billion in customer assets.
E*TRADE FINANCIAL Corporate Services helps stock plan professionals navigate the
challenges of plan administration and compliance, while helping employees
understand and access their stock benefits. That's why over 2,000 companies—
including half the S&P 500 and one-third of the Fortune 1000—rely on us to manage
stock plans for more than a million employees in over 100 countries.
Their other businesses include, Banking, Global Trading (6 markets& local

currencies, stock plan outsourcing (Full-service administration of company stock
plans.), equity edge (Powerful and flexible software for stock plan administration,
compliance, and reporting) and employee stock plans service (Easy-to-use
transaction service that empowers your employees to take control of their stock
plan benefits).
Their products & services include:
Full-Service Stock Plan Outsourcing
Our stock plan outsourcing group provides a total solution for companies seeking a
trusted business partner to handle plan administration. Our team of equity
compensation experts manages everything from basic option grants and restricted
stock awards to more complex requirements like swaps and dividend reinvestment
plans.
50
Powerful Software for Stock Plan Administrators
Equity Edge® is our advanced stock plan management and reporting software that
gives you maximum control over your company's equity compensation program.
Designed to work with your existing HR and payroll systems, Equity Edge offers the
power and flexibility you need to manage stock options, stock purchase plans,
restricted stock, stock valuation, and insider reporting.
Flexibility and Choice for Employees Worldwide
Our employee stock plans service gives your employees everything they need to
view their stock plan accounts, exercise options, and sell shares. Employees can
manage their stock benefits and make transactions online, via a toll-free automated
phone system, or by calling an expert financial service associate. And we offer
exclusive savings on banking, brokerage, and lending services via our
Advantage@Work program.
Premium Service for Officers, Insiders & Executives
Our executive services program is designed to meet the special needs of officers,
insiders, directors, and other executive employees. An elite team of senior brokers
and relationship managers provides personalized, expedited support for trades,
transfers, and other transactions, as well as handling inquiries related to Section 16,
Rule 144, and other complex regulations.
Professional Services That Maximize ROI
Our professional services organization offers a range of technical and professional

services that help you get the most out of your stock plan solution.
Innovative Solutions for Pre-IPO Companies
51
We offer an emerging companies program to address the unique challenges of stock
plan administration at privately held, pre-IPO companies.
Indian Competitive
Scenario
(Players)
52
ANGEL GROUP COMPANIES
Member on the BSE and Depository Participant
Angel Broking Ltd. (1997)
with CDSL
Angel Capital & Debt Market Membership on the NSE Cash and Futures &
Ltd. (1998) Options Segment
Angel Commodities Broking
Member on the NCDEX & MCX
Ltd. (2004)
Angel Securities Ltd. Member on the BSE
Incorporated in 1987, it has memberships on BSE, NSE and the two leading
commodity exchanges in India i.e. NCDEX & MCX. Angel is also registered as a
depository participant with CDSL. It commenced services like PMS, Mutual Funds &
IPOs in 2006
Angel emphasizes its customer-oriented innovative solutions in form of focused

research or state of the art technology or customized product offering or
personalized touch to our services. Angel also claims to be the only 100% retail
stock broking house offering a gamut of retail centric services like,
• Ebroking • Commodities Trading
• Investment Advisory • IPO
• Portfolio Management • Private Client Groups
Services
• Wealth Management Services • Depository Services
It emphasizes its self as a retail financial service provider.
53
ONLINE TRADING
Angel offers four platforms for trading, namely:
Angel Angel
Investor Angel Trade Angel Diet Anywhere
OTHER RECENT FEATURE(S) PROVIDED ARE:

M-Connect
• Access Market News / Analyses 24x7 on Mobile
• Angel Clients will have the advantage to access
their Back-Office data on Mobile Phone
• Real time Equity, F&O, Commodities and
Mutual Funds rates on a single platform.
• User-friendly interface for easy navigation
• Stock Updates and Market Stats on your Mobile
• Set Watchlist for Equity, F/O and Commodity and track your favorite stocks.
• Easy & free to download
• View Top 10 Local and Global indices
54
They are a company with 20 years of business experience. Their promoter &
Chairman, Mr. Asit C. Mehta, has over 25 years of business experience in the finance
industry. Their promoter & Managing Director, Mrs. Deena A. Mehta, has a hands-on
experience and had also been associated with various reforms process initiated by
SEBI, BSE & several institutions related to capital markets.
The biggest strength of the group is to convert business vision and investor service
ideas into technological solutions delivered to the investor service ideas into
technological solutions delivered to the investors through a private VSAT network. It
has a network of over 300 professionals.
Asit C Mehta Investment Intermediates Ltd, has a complete array of products.

Trading is possible on both national level exchanges, vis BSE & NSE, in cash as well
as derivatives. Offline trading through their authorized Business Associates, Online
trading through their web page investmentz.com. Alternative avenues of investing
are IPOs. They can also apply for the same on behalf of the client. They also provide
advisory services through their group company Nucleus Netsoft & GIS (India) Ltd.,
which is a SEBI approved portfolio manager.
They also have a membership with NCDEX & MCX. They provide investment
assistance to NRI’s as well.
55
Ever since its inception in the year 1994, BONANZA, has been at the helm of
providing its clients the finest investment & financial service. Today, they serve
more than 1,00,000 clients comprising of Financial Institutions, Corporates, Mutual
Funds, HNI & Retail Investors. Their network comprises over 550 business locations
spread across 260 cities in India.
Their product/ service range includes:

1. E-broking
2. Distribution
3. PMS
4. Depository Services
5. Brokerage Services – Equities, Deivatives, Commodities
6. Mutual Funds
7. IPO
8. Insurance
56
Dawnay Day AV is an innovative financial services provider and advisory firm,
formed through a joint venture between Dawnay, Day International and Alok
Vajpeyi.
With an unrelenting focus on our twin values of Integrity and “Client First" Policy,
Dawnay Day AV provides advisory services to individuals and institutional clients in
India and abroad.
Dawnay, Day was originally established as an issuing house in 1928 in London,

England. Dawnay, Day was acquired by its current owners, Guy Naggar and Peter
Klimt in the early 1980’s. Currently, The Dawnay, Day Group conducts business in
three broad spheres of operation - Property Investments, Principal Investments and
Financial Services. The Firm has gross assets in excess $4 billion and a net worth
that is greater than $1.5 billion.
The Firm’s jointly owned Financial Services companies include corporate and
structured finance companies, asset management companies, securities brokerage
companies, and property-related advisory services.
Working through our subsidiary companies and affiliates, we deliver high-quality,

specialized investment and advisory services to individuals and institutional clients
in Europe, Middle East, and India.
Dawnay Day AV Securities Private Limited is a full-service financial services provider

and advisory firm. Their other offerings include:
1) Equ 2) Onli
ity, ne trading portal,
3) Der 4) Priv
ivative, ate equity,
5) Dep 6) Rea
ository & Trading account, l estate,
7) Adv 8) Ins
57
isory, urance, and
9) NRI 10) Cor
Clients porate finance
11) FII
Incorporated in 1987, Geojit is one of the major stock broker based in India. Geojit
provide stock trading at NSE and BSE stock exchanges. Geojit provide it's Stock
Broker Services through a strong network of around 300 branches and its state of
art online trading portal. Geojit also provides a Call & Trade facility.
They are a prominent name in Kerala. Geojit is a stock market listed company and
its stock are traded at NSE (GEOJIT) and BSE (532285).
They offer trading in both NSE & BSE.
They offer 3 trading platforms to customers, namely, Silver, Gold & Platinum.
The other products the deal in are:
1. Equity
2. Derivatives
3. Commodity
4. Portfolio Management Services
5. Distribution
6. Margin Funding
7. Mutual Funds
8. Wealth Management Services
9. Banking
58
HDFC Securities, a trusted financial service provider promoted by HDFC Bank and JP
Morgan Partners and their associates, is a leading stock broking company in the
country, serving a diverse customer base of institutional and retail investors.
HDFCsec provides Cash-n-Carry on both NSE and BSE, Day trading on both NSE and
BSE, Trade on Futures & Options on the NSE and Online IPO Investment.
Their Other Offerings are:

1) Online Trading for Indian Residents & NRIs
2) Banking
3) IPOs
4) Equity
5) Derivatives
59
ICICIDirect (or ICICIDirect.com) is stock trading company of ICICI Bank. Along with
stock trading and trading in derivatives in BSE and NSE, it also provides facility to
invest in IPOs, Mutual Funds and Bonds. Trading is available in BSE and NSE.
Their core business is banking,

which it is able to leverage to
its benefit when it comes to
client acquisition.
They also offer trading in internal markets. They only provide a web-based platform.
Using ICICIDirect, one can investment online in IPOs, Mutual Funds, GOI Bonds, and
Postal Savings Schemes all from one website. General Insurance is also available
from ICICI Lombard.
Apart from this, the other services they offer are

1) Mutual Funds,
2) Personal Finance
3) Banking
4) Depository Service
5) E-Broking
6) Foreign Markets Investment
60
Idbipaisabuilder.in is a multi purpose online stock trading website from IDBI Capital
Market Services Ltd., a leading provider of financial services in India and is a 100%
subsidiary of Industrial Development Bank of India (IDBI).
Idbipaisabuilder.in allows investing in equity shares, derivatives (futures & options)

mutual funds & IPO's in India Stock Markets. You can buy or sell securities on NSE
and BSE Stock exchanges.
Like ICICIDirect, they too are into banking, and are able to provide a in-house 3-in-1
account.
Their other core service is banking.
61
IL&FS Investsmart Limited (IIL) is one of India’s leading financial services
organizations providing individuals and corporates with customised financial
management solutions. They are into institutional as well as retail business, one of
the financial multiplexes in India. They enjoy a pan-India presence of over 300
offices. It was taken over by E*Trade, now entirely under HSBC.
Retail offerings of IIL seek to cover all financial planning requirements of

individuals, which include providing personalised investment management services
including planning, advisory, execution and monitoring of the full range of
investment services. Broadly the retail services are divided into two broad
categories.
• Advisory Services: Portfolio Management Services, Mutual Funds,
Insurance.
• Trading Services: Equities, Derivatives, Commodities, IPOs
Their Institutional services can be broadly categorised as follows:

• Merchant Banking - They offer financial advisory and capital-raising
services to corporates. They also manage IPOs, Follow-on offerings, Open
Offers, Mergers, etc, IIL’s Merchant Banking business has been growing from
strength-to-strength.
• Institutional Equity & Debt - They are presently empanelled with more
than 100 institutions and service customers across geographies
A latest offering by them would be to trade in the US Markets, using E*Trade as the
base.
62
Indiabulls is India’s leading Financial Services and Real Estate company having over
640 branches all over India. Indiabulls serves the financial needs of more than
4,50,000 customers with its wide range of financial services and products from
securities, derivatives trading, depositary services, research & advisory services,
consumer secured & unsecured credit, loan against shares and mortgage & housing
finance.
With around 4000 Relationship Managers, Indiabulls helps its clients to satisfy their
customized financial goals. Indiabulls through its group companies has entered
Indian Real Estate business in 2005. It is currently evaluating several large-scale
projects worth several hundred million dollars.
“Indiabulls Financial Services Ltd is listed on the National Stock Exchange, Bombay
Stock Exchange and Luxembourg Stock Exchange. The market capitalization of
Indiabulls is around USD 6,300 million (31st December, 2007). Consolidated net
worth of the group is around USD 905 million (31st December, 2007). Indiabulls and
its group companies have attracted more than USD 800 million of equity capital in
Foreign Direct Investment (FDI) since March 2000. Some of the large shareholders of
Indiabulls are the largest financial institutions of the world such as Fidelity Funds,
Goldman Sachs, Merrill Lynch, Morgan Stanley and Farallon Capital.
Business of the company has grown in leaps and bounds since its inception.
Revenue of the company grew at a CAGR of 159% from FY03 to FY07. During the
same period, profits of the company grew at a CAGR of 184%.
Indiabulls became the first company to bring FDI in Indian Real Estate through a JV
with Farallon Capital Management LLC, a respected US based investment firm.
Indiabulls has demonstrated deep understanding and commitment to Indian Real
Estate market by winning competitive bids for landmark properties in Mumbai and
Delhi.”
63
The India Infoline group, comprising the holding company, India Infoline Limited and
its wholly-owned subsidiaries, straddle the entire financial services space with
offerings ranging from Equity research, Equities and derivatives trading,
Commodities trading, Portfolio Management Services, Mutual Funds, Life Insurance,
Fixed deposits, GoI bonds and other small savings instruments to loan products and
Investment banking. India Infoline also owns and manages the websites
www.indiainfoline.com and www.5paisa.com
The company has a network of 596 branches spread across 345 cities and towns. It
has more than 500,000 customers.
India Infoline Limited is listed on both the leading stock exchanges in India, viz. the
Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) and is also a
member of both the exchanges. It is engaged in the businesses of Equities broking,
Wealth Advisory Services and Portfolio Management Services. It offers broking
services in the Cash and Derivatives segments of the NSE as well as the Cash
segment of the BSE. It is registered with NSDL as well as CDSL as a depository
participant, providing a one-stop solution for clients trading in the equities market. It
has recently launched its Investment banking and Institutional Broking business.
64
Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank, was set up in 1994.
Kotak Securities is a corporate member of both Bombay Stock Exchange (BSE) and
National Stock Exchange (NSE). Currently, Kotak Securities is one of the largest
broking houses in India with wide geographical
reach.
Kotak securities online trading, is the online trading

portal of the Kotak Securities Ltd, the leading stock
broking house of India. The online division of Kotak
Securities Limited provides services like internet broking services, online IPO and
mutual fund investments.
Concentrated more on the HNI segment, they offer different accounts like Kotak
Gateway, Kotak Privilege Circle, Kotak High Trader, Kotak Freeway, Kotak Flat &
Kotak Assist.
Some other offerings of Kotak are:

1) Banking 2) Car finance 3) International business
4) Credit cards 5) Securities 6) Private equity
7) Life insurance 8) Institutional 9) Realty fund
equities
10) Mutual funds 11) Investment
banking
65
MajorGainz is the online venture of Prabhudas Lilladher (PL) Pvt. Ltd., a stock
broking house since 1944.
They have a network presence in 7 states of India, namely, Gujrat, Maharashtra,

Delhi, Kerela, Madhya Pradesh, Tamil Nadu & West Bengal
The platform provides access to all the information regarding Trades, F&O Open
Positions, Margins and Exposures and Demat Holdings with PL. There is also a
facility to make a Fund Transfer into your trading account via ICICI Bank, HDFC Bank
or UTI Bank payment gateways. One can also get Technical & Fundamental calls and
access to Company Snapshot.
Other offerings are:

1) E-broking
2) Equity
3) Derivatives
4) Commodity
5) PMS
6) Mutual Funds
7) IPOs
66
Motilal Oswal Financial Services is a well diversified financial services group having
businesses in securities, commodities, investment banking and venture capital. It
has over 1430 business locations and more than 4,61,699 customers in over 430
cities, handling wealth creation and wealth management needs.
Motilal Oswal Financial Services Ltd., consists of four companies.
Motilal Oswal Investment Advisors Pvt. Ltd. is the Investment Banking arm
with collective experience of over 100 years in investment banking/corporate
banking and advisory services
Motilal Oswal Commodities Broker (P) Ltd. has been providing commodity
trading facilities and related products and services since 2004.
Motilal Oswal Venture Capital Advisors Private Limited has launched the India
Business Excellence Fund (IBEF), a US$100 mn India focused Private Equity Fund.
Motilal Oswal Securities Ltd. (MOSt) is a leading research and advisory based
stock broking house of India, with a dominant position in both institutional equities
and wealth management. Our services include equities, derivatives, e-broking,
portfolio management, mutual funds, commodities, IPOs and depository services.
Their institutional business unit has relationships with almost all leading foreign
institutional investors (FIIs) in the US, UK, Hong Kong and Singapore.
The retail business unit provides equity investment solutions to more than 4,61,699
investors through over 1430 Business locations spanning over 430 cities. These
solutions are provided by a force of over 2000 employees and over 808 Business
Associates. They provide advice-based broking (equities and derivatives), portfolio
management services (PMS), e-Broking, depository services, commodities trading,
IPO and mutual fund investment advisory services.
67
A world of intelligent investing
Incorporated in 1993, Networth Stock Broking Limited (NSBL) is one of the major
stock brokers in India. Networth offers premium financial services and information.
NSBL is a member of the National Stock Exchange (NSE) and the Bombay Stock
Exchange (BSE).
NSBL provide the retail broking services all over the India, Middle East, Europe and
America. NSBL has 156 branches across the India. They are growing exponentially
because of their strong support; technology drives operations, research team and
network of experts. Online trading is one of the important platform provided by
NSDL.
Other services offered are:

1) Equities,
2) Commodities,
3) Depository services,
4) Wealth management,
5) Portfolio management,
6) IPO,
7) Mutual Funds,
8) NGRIP (Networth Group Interactive Portal)
68
Reliance Money (or RelianceMoney.com) is the financial services division of the Anil
Dhirubhai Ambani Group promoted Reliance Capital Limited.
The Reliance Money stock trading websites uses special security features 'Security
Token', which makes you online trading experience more secure without complexity.
Investment options are available in

1. Equity (Stock) Trading
2. Derivatives Trading
3. Forex Trading
4. Commodity Trading
5. IPO's
6. Mutual Funds
7. Insurance
It offers Single- Window Access - Through Reliance Money's associates, you can
transact in Equity, Equity & Commodity Derivatives, Offshore Investments, Mutual
Funds, IPOs, Life Insurance, General Insurance, Money Transfer, Money Changing
and Credit Cards, amongst others.
69
Religare Enterprises Limited is Ranbaxy Laboratories Limited promoted financial
product and service provider company. The Religare word came from, it's a Latin
word meaning 'to bind together'.
Religare provides its service in three different segments including Retail, Wealth
management and the Institutional spectrum. It offers wide range of services
including equities, commodities, insurance broking, wealth advisory, portfolio
management services, personal finance services, Investment banking and
institutional broking services. Religare retail network spreads across more than 900
locations across more than 300 cities and towns in India.
Religare Securities Limited is a subsidiary company of Religare Enterprises Ltd and

involve in equity related services include online trading at BSE and NSE, Derivatives,
commodities, IPO, Mutual fund, Investment banking and institutional broking
services.
It offers 3 trading platforms, namely, Race Basic, Race Lite, Race Pro. The brokerage
is charged according to the account selected, viz Classic account, freedom account
& trump account.
Religare gives interest on unutilized cash when investor is waiting to make next
trade or online investment.
Other services offered are:

1) Equities 2) Wealth management
3) Commodities 4) Investment banking
5) Mutual Funds 6) Metal Markets
7) Insurance
70
Sharekhan.com is a website through which one can trade in shares/ invest in a
completely hasslefree and paperless manner. It comes with a unique 2-in-1 account
that integrates your, Demat and broking / investment accounts.
It is one of the most popular names in share trading industry.
It offers two types of accounts, namely, Classic Account & a speed trade account. In
the latter trade tiger gets activated just when the customer is able to generate a
brokerage of over a particular amount. If the amount is not generated in a particular
quarter, the software gets de-activated.
One can trade in IPO’s, Cash & Derivates with the help of Sharekhan.
71
Incorporated in 1994 by Unit Trust of India, UTI Securities Ltd (UTISEL) has grown
from an institutional brokerage house to a full-fledged financial intermediary having
nationwide presence in major cities with branches and franchisees to service a wide
range of clients.
UTI Securities Ltd (UTISEL) is one of the major stock brokers in India. UTI Securities
offer stock trading at NSE and BSE stock exchanges. UTI Securities provide it's Stock
Broker Services through a strong network and premium financial services and
information.
Trading is possible in BSE and NSE via the web page www.usectrade.com
Their other offerings include:

1) Mutual Funds
2) Banking
3) IPOs
72
Cross-Sectional
Analysis
73
CNBC-TV18, one of India's leading business news channels, is a joint venture of
CNBC and Television Eighteen India Limited (TV18). CNBC Asia holds a tiny strategic
equity stake in the Indian company TV18 which is listed on the Bombay Stock
Exchange and the National Stock Exchange of India.
The channel's benchmark coverage extends from corporate news, financial markets
coverage, expert perspective on investing and management to industry verticals
and beyond. CNBC-TV18 has been constantly innovating with new genres of
programming that helps make business more relevant to different constituencies
across India.
Moneycontrol.com serves as the online avataar of CNBC-TV18 content.
Power Your Trade (PYT) is one of the latest offerings, which is a newsletter-cum-
market report on the same. These reports are charged for. Within a week, it has
managed to grab a large audience for the same. They have a 7-day trial period,
beyond which they charge for the PYT copy.
Apart from that, they also control the moneybhai.com, the virtual stock trading
portal. It is one of the most popular portals amongst the potential investors, wherein
they can learn to trade.
MoneyControl is also turning out to be a favourite spot for training in terms of online
school, namely Pehla Kadam. This venture is partnered with Reliance Money.
From providing news, to training people, to entering advisory, there are chances,
wherein it could even offer online trading to the clients.
74
Thus, threat is no longer from the existing or similar natured agencies, but from
cross sectional agencies as well.
Whatever the market anticipation may be, but this is one player, which needs to be
watched with caution, by all industry players. It has all the necessary finances to
wash-out the market and change the rules of the game. Also their brand value is
rising. Their media penetration and partnering networks make it a strong competitor
to deal with.
Like its six feathered peacock in primary colours with its head towards the right
indicates the diversity of the CNBC programme offering and its futuristic attitude, it
is time till we judge its next dance in the rains.
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Marketing Branding
&
Communications Plan
3.2.3 A. PRE-LAUNCH ACTIVITIES
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After undertaken a brief market player analysis, I moved to work on the MARKETING,
BRANDING, & COMMUNICATIONS PLAN for the online trading product. The first phase
of it included the suggesting of a brand name for the product. (refer annex for
names)
Amidst all this I even interacted with a 10 – 15 people for an impromptu session on
online trading. This was enhanced by the interaction with the in-house employees &
the top management as well, which helped me determine the product features,
planning in relation to the organizational key strengths and weaknesses.
From then onwards, the concentration was on the pre-launch activities, the
dominant activity of my entire project. All the activities undertaken in the Pre-
Launch activities were running parallel/ simultaneously.
I. ADVERTISING PLANNING
The first activity undertaken was the advertising planning. I got in touch with MSN/
NDTV, Google, Rediff, MoneyControl & Chittorgarh for the same.
My mentor suggested I understand the nature of advertising variables by asking the

queries to the agency representatives and then put up our needs for advertising.
Post telephonic briefing, they sent us a proposal. It would take about 2 – 3 rounds of
interactions, during which I even availed their brochure, the nature of their web
formats available for advertising, duration, rate-card, sponsorship plans based on
impressions, time-band, or CPC (Cost Per Click).
The discussions with my mentor after each of these interactions, helped me

understand how close or far I was going from a particular activity or need of the
hour, based on which, I could revert back to the agency and ask for the necessary
explanation or details on the same.
Based on all the proposals received, a comparison chart was made and mailed to
the management for the final analysis. My skill was limited up to compiling the
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required data, but under the coaching of my mentor, I was able to make a better
comparison, as to be presented to the management.
Another important learning came in the form of a briefing session to

moneycontrol.com by my mentor. The skill there was not just about how to brief the
agency, but to cross verify on the other facts related to the organization. The
learning was implicit, was a good one.
MSN
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Microsoft Advertising is a business-to-business brand, representing the entire
portfolio of extended media, consumer touch points and technology solutions.
Investing in the acquisitions, technology and training as well they

represent themselves as “One singular brand to represent all that
we do for you, our customers - advertisers and publishers.”
NDTV India is the exclusive sales partner for the web portal
MSN India. They present themselves as means to by
offering multiple target points to their
They offer formats on their web page on time-band. While

for Windows Live Hotmail it is available on impressions for
the particular target audience.
MSN would not charge us for creating the content for the
advertisements. They do not charge for creative work.
They have various partnering channels via which

advertising can be undertaken either on Windows Live Hotmail or MSN India (along
with the channels available on the same – finance, real estate etc)
They offer options like impressions, time-band, mailers, along with a variety of
options and combinations on Hotmail pages & Messenger. The MSN proposal was
not submitted or included in the final plan as there was a discrepancy between two
parameters, which was not clear. (refer annex)
Space on Google is available on impressions as well as Cost-Per-Click basis. The

charges vary according to the pre-paid or post paid account. One can open an
‘adwords’ account and manage their account by themselves.
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The office in-charge for the advertisement related queries is at Hyderabad, while
their marketing office is located in Mumbai.
One can either go online and create an account for the same, or get in touch with an
intermediary for the same.
A fixed tenure contract can be undertaken with an agency working on behalf on

Google for a lump sum pre-decided amount. With an intermediary agency, one pays
more considering that the account is valid only for a fixed tenure.
If you choose to manage your own account, one can do it on a lifetime basis, without
paying any additional costs. There are limitations with respect to the nature of
content but large reach & cost-efficient. Online account is easy to use, but needs a
constant tab on the same. The flexible payment options make it an interesting
option. Refer annex for the proposals.
Rediff is a giant in the online industry. The formats offered by Rediff are
Impressions, P4C, mailers, sponsorships etc.
Their tariff card is revised every 3 months. So the maximum duration up to which
they enter into contract is the same.
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Two different proposals were obtained from Rediff. One was specifically on P4C,
while the other included a combination of various formats. The P4C proposal was
received prior to my joining.
A user can subscribe online as well for the P4C account, but on comparison the
offline contract obtained is more cost-efficient than subscribing online. The unique
feature offered in their mailers is Open-Mailers i.e. they will shoot mailers to the
target audience group till the decided number of mailers are opened, not just
dropped in the inbox.
Later a rate-card too was procured to understand the nature of formats better.
They charge for creative works development is charged. Refer Annex.
It is one of the most widely used pages amongst the investor & trader fraternity.
They charge on the time-band and impressions. Like MSN they provide various
channels on their page.
A latest development on the same was the Wealth page.
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At present they are in the process of re-structuring their web-page to offer better
space, and reduce the clutter.
Their offering in terms of formats available is similar to most of the other pages. But
it is the target audience which they cater to makes it a very favourable option.
With initial contact, a rate-card was procured from them. Later the representative
too had come for a presentation. But after that occasion, there was no further
communication from his end.
This portal caters to a wide range of audience for travel tourism and sorts.
It is also a popular destination amongst the online traders as it provides a brief on

the dominant online trading software providers.
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It also offers a forum, wherein the investors or traders can raise their grievances or
views on those online trading service providers.
The point of contact between the company and us was email via which a rate-card
was procured towards the end of my project. By that time, the advertising proposal
had been submitted to the top management for their verifications and comments on
the same.
A copy of their proposal has been enclosed in the annexure.
Yahoo is another popular portal for the ‘Finance Page.’ Their advertising options are
as follows:
a) Search Marketing: They help in clients searching us, than us

following them.
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b) Media Solutions: They help promote our brand across the Yahoo!
Network and reach a large target audience.
c) Publisher Network: This option is for online publisher or portal where

Yahoo! Can add new revenue sources to their page and enhance user
experience.
d) Recruitment Advertising: It helps promote branding the company as

the employer of choice through recruitment advertising on Yahoo!
HotJobs & across Yahoo! Network. It claims to help reach both active &
passive candidates to fill the hiring pipeline
Communication efforts were made to connect with the Yahoo Office, but there was
poor response, hence no further perusal was made on the same.
The final budget submitted along with the other proposals and brochures is available
in the annexure.
3.2.3.A. II. BROCHURE & FLIER
Even if the truth is that it is the

product which matters most at the
end of the day, a well made Product
Brochure & Flier have a good first
impression on a client.
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It is an easier said than done activity. It is a platform, which will represent your
entire organization & product in the miniscule in depth at the same time.
There are things which are obvious, yet need to be stated, while there are the not so
obvious things which need to be highlighted, assuming the prospective reader is a
first-timer in the trading business.
In my project, I got a first-hand experience of writing a brochure and working on the

layout, color scheme, theme etc. There were drafts and re-drafts, there were so
many obvious things, which had to be included apart from the other highlights.
Even though it didn’t materialize as expected, towards the end it was decided that
an agency will be hired for the same, but the experience was worth it.
3.2.3.A. III. POWER POINT PRESENTATION
A PPT is essential in the techno-

savy environment to
communicate with the audience.
The multimedia format makes it
an innovative way of presenting
the product & services.
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At this point, even though the product features are not decided, a rough
presentation was made on the Online Trading Product, with the minimalistic features
expected/ required in a trading product (for Corporate Communication)
One of the best means to use the presentation is to upload it online and make
available to the large number of participants who would like to go through it.
Assistance in terms of content & material was provided by my mentor. Also my

colleague, a creative team member helped me by creating the necessary pictures/
formats for me, not only for the brochure/ flier but also the power point
presentation.
3.2.3. B WEB PAGE
The web page today is the first impression to the customer/ client about the image
of the company. It may not be held against the service provider but preferred if the
web page is supported with all the necessary information. Apart from that, if a web
page is well made, it saves on many other costs incurred for set-ups like customer
care centres for the same.
3.2.3. B. I. FEATURES ON THE WEB PAGE

It was interesting to note the variety of layouts for web-pages on the competitors’
pages. Some of the features were standard, but some pages made it easy to
understand and locate, while some made the entire process complicated.
Some of the pages were very simple and basic but served the purpose, while some
were very glossy & stylised but would not provide the necessary information.
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Since the online trading portal was to be a part the main Way2Wealth home page, I
got an opportunity to understand the other products of Way2Wealth in the process.
The extent to which, I was able to use the information is very limited compared to
the amount received.
The list of suggested features/ components on the web page is listed in the Result
sheet. A brief layout of some of the features I listed is available on the comparison
sheet attached for each in the annexure.
3.2.3. B. II. WEB CONTENT MANAGEMENT
For the web portal, data was collected from various online sources as well as offline
sources. A compilation online school was made, which included the ‘W’s & H’ related
to online trading and the products (submitted to the organization)
To get a better understanding on the subject, I was provided in-house guidance by

one of the Branch Managers, wherein I was explained the entire spectrum of
investments – broadly put as financial & non-financial options (bonds, mutual funds,
insurance, bank deposits etc).
Equipped with a better understanding on the nature of products, I made an online

knowledge centre (recommendation) including glossary, online learning, FAQ along
with a recommendation of sections on book review & trivia.
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It was not possible for me to edit and re-work the content to be immediately
uploaded, but the content was organised wherein a specialist can work on the
language aspects of it. The module helped me ingrain the entire investment
business process even better than earlier.
3.2.3. C. I. OTHER OPTIONS EXPLORED – MOCK TRADING GAMES
The other option, which was explored during the project, was of Online Trading
Game, something similar to that of moneybhai.com.
An idea of having a dummy game to train individuals and use our channel partner,
Café Coffee Day, as the channel to reach the audience was explored. For the same,
we got in touch with various games developers. Some of them were game
developers for mobile phone, while some for messengers and others.
The agencies we got in touch with for the same were:
a) Synapse India – we had gotten in touch with

Synapse via the internet search. Using email as
the communication channel, we had a decision
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made on the nature of features we look for a real-time game. The reason it
would not work out for us was the time duration and the finances involved
b) Rapid Soft Technologies – we

had got in touch with them via
the internet search. A note was
left on their feedback form.
They connected with us on one occasion and then for over 15 days there was
no contact. By the time the third connection was made, we had already
sacked the idea of developing a new game.
c) Software Developers India – was

another agency we got in touch with.
They were initially planning to
charge us on per person employed
basis. A negotiation was made on the same, wherein I asked for her offer
depending on the basic product (irrespective of the number of people she
employs) on a lumpsum basis and state the basic features. Beyond that any
new addition would be charged. Similar to that of Toyota Innova, wherein
there is a charge for a basic version, as you add more and more features, the
charges would increase. We received a proposal on the same, but had to
scrap it as the costs and time involved were very high.
d) MSN – A proposal from MSN gaming was also invited, but the game would
have been limited upto MSN Messenger & also the rights would be kept with
them and not with us. It was certainly not a viable option, hence it was not
ventured further.
e) Artha Technologies – They too were contacted for the same, but mid way
again we had to abandon it as we wanted a ready made product than
developing one.
f) Other Online Web Sites – We tried to locate if the mock trading software
already developed would be available for sale. But since it had consumed a
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lot of time and energy, also that we were unable to reach the right source, we
put the idea on a back burner.
g) India Games Ltd – They are game makers for mobile phones, we could not
pursue it as an option as we were not looking at phone games. They had a
partnering with the leading service providers, which could be used to spread
the game faster than creating a physical set-up in our existing channels.
Some other agencies to which contact was made but could not be pursued were
Trine Game Studios, NextWave Multimedia Pvt Ltd, Classic Informatics,
This part of the project helped me negotiate variables on the basis of which
negotiation can take place for technology products. Even though the idea was not
pursued further, it was a good learning.
3.2.3. D. POST ACCOUNT OPENING
3.2.3. D. I. WELCOME LETTER

The broad outline for the letter was provided by my mentor, on which I worked. I
learnt the necessary details required for an online trading account. The information
is stated for efficient & direct use of the client. It holds all the necessary details in
relation to the account of the customer.
A copy of the recommended letter is enclosed in the annexure.
3.2.3. D. II. CUSTOMER SERVICE GUIDELINES & SCRIPT FOR TELE-CALLERS

This was another interesting aspect of my project, which brings my activities to an
end. A broad reference pointer was provided by my mentor as to how is a customer
service guideline & script for telecallers broadly structured. I was introduced to
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existing copy of a rough draft, on which I was allowed to make recommendations, in
the form of changes.
On an overall it was an exhaustive & enjoyable range of activities, which I was given
to undertake during my project.
4.1 CONCLUSIONS
Broadly, the observations can be grouped as in relation to the external industry
scenario, internal organization, product features, customer care features, Branding,
Marketing & Commusnications (BMC)
External Internal Product Product Web Custome BM

Industry Organizatio Feature Related Content r Care C
Scenari n Factors s Recommendati Recommendati Factors
o on on
1) External Industry Scenario – the observations and recommendations are

based on the features which seem to dominate/ affect or reflect the industry
as a whole.
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2) Internal Organization Factors – they are the factors within the
organization, which can be manipulated, channelled and controlled (to an
extent if not completely) to further the efforts of the organization.
3) Product Features – this is in direct relation to the product offerings. There

are certain features which are basic, while there are some features, which if
provided would enhance the quality of the entire offering.
4) Product Related Recommendation – these features do not directly affect

the features of the product. But are more in relation to the ancillary offers or
provisions.
5) Web Content Recommendation – A good web page has a desired

representation of the company image. These recommendations are based on
what has been viewed in a variety of pages, to make surfing the Way2Wealth
page an even better experience.
6) Customer Care Factors – these are very critical in not only gaining or
converting but maintenance and sustenance of the customers.
7) BMC (Branding Marketing & Communications) – it is strategies which
are being used in the industry while some can be used suiting our needs &
objectives.
4.2 EXTERNAL INDUSTRY SCENARIO
1. ROLE OF LEGACY – years in the industry is often used as a dominant feature to

attract attention. The relation to a popular or deeply entrenched pedigree is
strategy used to gain customer attention & confidence.
2. EMOTIONAL VS RATIONAL BONDING - There are two ways of luring the client,
emotional and rational. Charles Schwab concentrates more on developing
emotional bond between the customer and the organization. While E-Trade
focuses on the rational aspects like superior technology.
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3. CLIENT-CENTRIC FOCUS – All the companies are over & over stating the importance
of client focus, and their facilities for the same. Everyone says the same thing,
but it is evident by the actions undertaken for the same.
4. ROLE OF TECHNOLOGY – The role of state-of-art technology is an one-up for the

provider. Technology is not just about providing the best, but also making the
entire process easier for the customer to use. The industry standard in the
security encryption is 128bit. There has been little change in the same over the
years.
5. INSTITUTIONAL VS RETAIL – where certain organizations are specializing in

institutional, most of the players are specializing in retail. Where Institutional
caters to organizations on a whole, retails caters to individual needs. Certainly
the resources required is higher for the former, but it appears to be a relatively
untapped market. Also by partially involving in institutional business/ relations
a further push can be provided to the retail business. Reliance has corporate
accounts for trading where discounts are provided to individuals belonging to
certain organizations. This feature can be used to help create similar relations
in the industry or within our existing clientele. It will also promote specialization
to suit a particular category of customers depending on their set of
organizations.
6. GEOGRAPHIC PARAMETERS – Geographic proximity appears to be a strong factor for

the investors. It appears that it is easier to trust who belongs to your region,
understands it better and speaks their language. In reality it is how well one
can reach the customers. The physical network of the organization needs to be
strengthened. Rather than owning offices, it would be better to promote
franchise networks in the deeper parts of the country.
7. PRICE/ COSTS – the plans offered by the organizations reflect on the nature of
clients they wish to cater to. Most of the plans fall in line with the law of supply,
where more the supply lesser the charges. The account opening charges,
services and the plans offered attract the nature of clients one is after. Today,
most of the clientele appears to be ready to pay if they derive value out of it.
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This is more true with the general perception of the mass affluent class, who
has the money but not the time and knowledge to undertake investing.
8. ADVISORY SERVICES – Advisory is a core in this business. It is not only about the
facts or facts first, but more about the meaning behind the information
received and how practically it can be applied. Almost everyone is offering free
advisory. But in the current times, it appears, that people believe the
information for which they pay is generally good. The concept of ‘No Free
Lunches’ is gaining importance in the mind of the investor. Thus, to enhance
the value of your research, some charges should be levied for it. All the best
things come for a price.
9. BRAND AWARENESS – the popularity of your name affects the new client
acquisition. Efforts in branding are important. The fastest way to connect is to
make the client recall your brand name for the nature of offering either by a
brand mascot or a unique symbol representing it.
10. OTHER FINANCIAL SERVICES OFFERED – in the mall culture coming in today, most of
the people are looking at one-stop solutions. Most of the people are looking at
one corner which caters to all their needs, than going for different services to
different vendors.
4.3 INTERNAL ORGANIZATIONAL FACTORS
1. GENERAL INTERNAL FACTORS OF ORGANIZATION – the quality of environment,

treatment given to the employees, problem redressal, other benefits offered
affect the motivation and performance of the employee. An employee who
envisions growth within the organization, will help more actively in the
company’s growth. Since Way2Wealth is a growing organization, setting in
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practices to enhance the same at this stage will make it a formidable force to
deal with in the long run.
2. ROLE OF ORGANIZATIONAL LEADERS – The leaders have a major impact on the

performance of the team players. A burdened leader will have burdened team
members, while a vibrant leader brings in energy into the room.
3. INTERNAL COMMUNICATION – Often the problem arises when the goal clarity
is not shared by all members of the organization. The goal is clear in the minds
of the top management and there is a consensus on the targets for the same.
The amount of clarity penetrating or percolating should be verified such that
the team moves together than in pieces. A step taken in this regard within the
organization is the Empower Board, where every team member can express
their opinions without any vertical or horizontal organizational set-up barriers.
4. OFFICE LAYOUT – Even though the products dealt with in a Financial

Service providing company are intangible, today, the role of infrastructure
involved is increasing. A standardized format not only induces confidence in the
customers but helps maintain parity in the privileges/ comforts available
between the branches of an organization.
5. WEALTH COMPASS – the potential of Wealth Compass has not been used to
the fullest. It can be made livelier and provided in the college libraries for no
fee initially. If the language can connect with the student crowd at this stage, it
settles in their minds for a long time. Also it is a place, where the visibility will
be the highest, at least during examination season. There can be more quizzes
and trivia to involve the audience into the real happenings. Apart from that
advertisements of own products should be encourage within the magazine. To
make the advertisement more valuable, a small fee can be levied on the
department. It is a strong tool, which has not been much explored.
6. EMPLOYEE QUALITY/ MORALE – The employee should be motivated to

acquire a client. He/ she should not only be equipped to serve the client, but to
convert a potential client. The two experiences, which led to a conclusion as
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such was with ICICIDirect & Networthstock. With ICICI Direct, the concerned
person on the line at a branch, told me he is not equipped with the knowledge
to serve at the moment, as they have not been provided the training. In the
background, they were giggling and more keen to leave the office than
addressing the client on the phone. Some thing similar with Geojit Branch at
Vashi, where when I asked about the product he gave me a brochure and asked
me to call the helpline and take the details, as he is not too sure about them.
But later when I asked if about his qualifications, he could not stop talking for
the next 10 mins about how he is pressured in life, and how this work ex will
show good on his CV. There can be a standard process, which all branches/
franchisees are expected to follow, and the best one is awarded a certificate for
the same. This has a good reflection on the processes of the organization.
7. EMPLOYEE RELATION WITH THE ORGANIZATION – the level to which an employee

feels himself to be a part of the organization, the more he contributes.
Emotional bonding is not just with the external customers but within the
internal customers as well. This can happen, when the employee knows more
about the organization than just his profile. With relation to Way2Wealth, most
of the employees are below 1 year of relationship. Thus, the soil is perfect to
percolate the seeds of a new legacy.
4.4 PRODUCT FEATURES RECOMMENDATIONS
1. MULTIPLE DEMAT ACCOUNT – Except for ICICI, most of the online trading service
providers allow only 1 demat account. It would be an advantage to have more
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than one account. Schemes can be induced such that more members join in
at the same time.
2. MULTIPLE FUND ACCOUNT – Not only linkage to more than one bank account, but
the ability to use more than one account simultaneously, as it saves the
customer the account details changing time.
3. FUND CONTROL – a feature, wherein, holding and release of funds can be present.
If the amount exceeds the set value the transaction cannot be undertaken.
4. SINGLE SCREEN ACCESS – The instruments in which the trading can be undertaken
basically are equity, derivatives, commodities, metal, ipos, insurance, mutual
funds, forex etc. Not all the players offer the option in transactions in all of
them. Reliance Money is one of the people who offer the same.
5. E-NOTES – the digitally signed electronic contract notes are delivered on the
same day, apart from its availability in the online back-office. Physical notes
should be provided on request. Charges should be levied for the same, unless
the client is generating a very high brokerage. Physical notes can be issued
periodically as well.
6. MARKET ANALYSIS – the platform should support by providing technical analysis

for the various products.
7. PORTFOLIO LIST – The watch lists created should be able to display most of the
instruments in which trading is offered.
8. MARKET WATCH – Multiple market watch lists should be permitted with a good
number of scrips per list. The standard offered by most of the players is 20.
9. LIVE ASSISTANCE – there should be online help available for the client, similar to
that of an online chat assistant to solve problems for the client.
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10. DEMO ACCOUNT – A demo account/ link can be provided so that, at any point he
may train himself regarding the functions and use of the account.
11. SECURITY – the password is mandatorily to change after every 14 days. The
security key provided by Reliance is one of the best, wherein the external
device generates the password, only known to the client.
12. PORTFOLIO MANAGEMENT – Tools should be available on the window, such that the
person is able to calculate the value of their portfolio at any point of time. A
variety of calculators can be provided to achieve the same. Calculators like
‘with the current value how much can they borrow or margin?’, ‘value of
money in future’, etc can be provided
13. CONSISTENCY BETWEEN WEB PLATFORM & SOFTWARE – The features in terms of the portfolio
capacity, news alerts etc should be standard between the software and the
web based terminal. Ideally, the variation between the two should be of the
execution speed, nothing otherwise.
14. LIVE NEWS – Live news can be ‘bubbled’ or blinked on the page of the user.
15. SPECIFIC SCRIP ALERT – this feature will enable the user to get alerts only for the
specific chosen scrips.
16. SCRIP WATCH – Any specific scrips history (for a defined time frame) should be
available when selected.
17. AFTER MARKET ORDER – this enables the client to book his own transaction after
the market closes or before the market opens.
18. BACK-OFFICE ACCESS – The back-office access should be 24 X 7.
19. MARKETS AVAILABLE FOR TRADING – the number of markets can be increased not only
overseas but also other local markets within the country.
4.5 PRODUCT RELATED RECOMMENDATIONS
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1. TRIAL PERIOD OFFER – to induce trial, & reflect confidence on our product, a trial
period offer is the fastest alternative. No charges should be levied for that
particular trial period, after which, if the client continues, charges will be levied.
The only charges they pay at the initial stages is the account opening charges.
2. CREDIT CARD – Most of the payments, today are made by the credit card. It is
easier than any other format available today. One only needs to punch in the
numbers and the payment is made. This avenue was explored but due to
technical glitches can not be implemented at present.
3. DOCUMENTATION PROCESS – the documentation process should be as minimal as

possible. The fact that the documents take time to process can make a client
move away. To make it faster, forms can be provided online, which can be
downloaded and duly filled by the client and sent by the client or collected by
the nearest branch/ franchisee.
4. SECURITY/ INSURANCE – a dominant reason why most of the people prefer not to
get involved in the stock market is that there is no real security for their money
in it. In most of the developed markets, there is risk insurance, bought by the
service provider to secure the monetary transaction loss which could occur
while the money/ shares move from one account to another. In the Indian
context there is no such provision. Another reason, why it could be difficult to
directly implement the insurance is that the charges levied in BSE differ from
NSE. BSE charges an additional Rupee one on the shares. There can be some
alternative, which could be worked out, not directly as insurance, but a type of
assurance for the same, where the risk of the investor is reduced.
5. CALCULATORS – linked to your products, to not only showcase but promote your
products. The best use of calculators is made by Kotak, wherein at the end of
the calculation, they suggest a strategy (their product) to attain the desired
results. A range on the same is even available on moneycontrol.com
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6. MOBILE USE – today many players are looking at SMS to provide information and
tips, Angel, Kotak are one of them. Even Trading can be undertaken by SMS.
For this service, there is a letter signed by the individual regarding
responsibility for transactions. Refer Annex.
4.6 WEB PAGE RECOMMENDATIONS
10
0 FOR WAY2WEALTH SECURITIES PVT LTD
Some of the features observed (recommended) for the web page of Way2Wealth
are:
1. RESEARCH ON COMPANIES/ SECTOR SEARCH – This feature is available on some of the

leading pages, such that the person can go through the entire history of the
listed company in a crux, helping him make a decision accordingly.
2. UPDATE ON WORLD ENTICES & OTHER LOCAL MARKETS – changes in one market affect the
other, hence, updates would be of great help.
3. RISK CALCULATORS – linked to your products, to not only showcase but promote
your products. The best use of calculators is made by Kotak, wherein at the end
of the calculation, they suggest a strategy (their product) to attain the desired
results.
4. PRINT & FONT OPTION – it is a user friendly option, wherein the person can
increase the font size of the article printed on screen for easy reading.
5. ONLINE PAN + BSE & NSE CIRCULATIONS – The reason behind trying to provide the
same in one place, is that everything relating to markets can be accessed at one
place, even if they do not trade by us
6. CURRENCY CONVERTERS
7. SITE MAP – helps provide easy navigation of the webpage.
8. KNOWLEDGE CENTRE – The online knowledge center should include online trading
school, FAQ, quiz & trivia, book reviews, glossary in one place.
9. PRODUCT RANGE DISPLAY OF W2W – there is no better place to represent your own
products, (not just an advertisement) but as solutions to problems.
10. MEDIA CORNER – The media corner can have a facility namely ‘Invite Journalists’,
such that any event update done on the page, will be emailed to them. Also one
10
can access all the recent happenings, in relation to Way2Wealth worth
publishing.
11. ONLINE REGISTRATION – This feature can be used by providing a copy of the
necessary forms online, which an individual can download. The only task then in
hand is to get them collected from the client’s address.
12. FINANCIAL INFORMATION TIE-UP – tie up with agencies specializing in the news eg
Reuters, Newswire etc. This will not only help project a better image but help
widen our base of partnerships, which can be used at a later date. NDTV or UTVi
could be a good option as it is an upcoming rival to CNBC-TV18.
13. SUBSCRIPTION ONLINE – Newsletters – Preferably charges should be levied for the
same after an initial trial period offer, as good things have a price to pay. The
psyche of the customer believes that if they are asked to pay for something, the
thing has some value.
14. QUESTION & ANSWER FORUM – this will be an interactive space, where the questions
put up by clients or novice can be answered not only by experts but other
members. It helps in creating the emotional bonding.
15. WEB EXIT SURVEY – this will help us review our web page and make amendments
accordingly.
16. TIPS TO CREATE A GOOD PORTFOLIO
17. ONLINE COMMUNITY – a platform where the clients, franchisee can come together
under the wing of Way2Wealth as family members. This enhances emotional
bonding, but should be used carefully as it can back fire at a later date.
18. ADDRESSES OF CCD OUTLETS/ CYBER PARTNERS - where they can surf/ trade for lesser
charges
10
19. CONNECT TO WAY2WEALTH – the display of other channels, ways & means by which
a person can connect to Way2Wealth for any further query or assistance
4.7 CUSTOMER CARE FACTORS
1. TRAINING TO CUSTOMERS – The means and channels by which the training is

provided is a reflector on the company’s customer friendliness. Sharekhan &
Reliance Money undertake about an hour of training session at their respective
branches for customers to learn more about the product, via demonstrations on
the same. Sharekhan goes a step further in this endeavour by providing trading
rooms to the customer should he be unable to use the facilities at his own
residence, or office. Training can also be offered via FAQ, Demo &/or
Relationship Managers.
2. HELP LINE – The quality of helpline service available can affect the client
acquisition and retention as well. There were lot of instances where when a call
was made to the call centre, the person on line only asked for my number and
was unable to sort out any query or provide assistance of any kind. Some of the
customer care centres where I had called were very quick and confident. The
call centre quality reflected on the quality, attitude of the organization towards
the customers.
3. FOLLOW UP – the follow up of a potential client is a great determinant of winning
the client. The best follow up I experienced during my project was of Angel
Broking & Rediff (to check the status of the advertising proposal). It not only
makes sure the client remembers you but also that you are valuable to our
organization. Even if they mention 2 weeks later it is always a better option to
check with them once or twice at least in between the given duration.
4. AFTER-SALES SUPPORT – Though the product sold is not physical, but the attention
showered on the client, does have an impact. Keep an existing client waiting for
too long while trying to acquire a new client, the old one is lost. Also the new
client takes in the impression of the attention showered on the neglected client.
5. FEEDBACK RESPONSE – If the client has a grievance or complaint mailed or

registered, at least acknowledge it rather than ignoring it entirely. It improves
10
the situation between the client and the service provider. A better way would
be to periodically get in touch with the client via emails or mini surveys,
wherein they respond to any grievance, also reflecting you value their
association.
4.8 BRANDING MARKETING & COMMUNICATION (BMC)
1. TARGET CLIENT – the target audience for each of the agency is different. The
more clearer your target audience, the easier it is to reach it. Also the
communication plans can be made to serve the interests of the target
organization without ignoring the other potential clientele.
2. CORPORATE CLIENTELE/ PARTNERS – Reliance offers certain discounts to clients

belonging to organizations they have a relationship with. Something similar
can either be developed or if we have corporate HNI clients, we can offer it on
an organizational level.
3. CCD AS TERMINAL ROOM – Café Coffee Day outlets can be used for undertaking
trading or introducing mock games. This would help acquaint newer people
with the concept of trading, while procuring business for them as well.
4. REDEEMABLE COUPONS – Cyber café’s can be partnered in the city, such that they
accept redeemable coupons issued by Way2Wealth, and provide internet
access to the trader at a lesser cost. The money will be repaid by the
company. The best place to make these coupons popular is with the call
centers, or when the client joins Way2Wealth. This would also help enhance
or reach and network, without investing in real infrastructure.
10
5. MARKETING & BRANDING STRATEGIES –
 RELIGARE – of all the players, the noteworthy strategy I found was

of Religare. They offer benefits to their clients for trading by giving points,
which can be redeemed at a later date. Another strategy by them was the
IPL series. They offer interest on stocks in the trading account, p.a. Also
Religare, has been conducted a deep market research.
 SHAREKHAN – It makes sure it is present in the light but

undertaking some or the other events. A month back they had an event in
Nirmal Lifestyle, Mulund, where they had a small slip, which had a quiz. The
respondent is supposed to answer those questions and fill in their details.
The winner would be given an ipods. Surely, they would not part with as
many prizes, but in a relatively short time span, they could collect a large
number of leads.
 MAJOR GAINZ ONLINE – They are using the DSL network, which
present rolling advertisements in many food joints across the city, the whole
day.
6. PRESENTATION CUM REPRESENTATION – BRAND MASCOT – Having a brand mascot is

observed to have a major impact on the brand recall. There is a strong link/
association developed in the minds of the target audience, if there is a brand
mascot. Eg. Tiger for Sharekhan.
7. WEB PAGE LAYOUT/ FEATURES – The web page should consist everything about the
product and organization, which a customer or potential customer would like
to know. The benefit of the same is that it reduces the costs incurred in a
customer care center for queries of such nature. A basic FAQ can answer
most of the questions pertaining to the product, charges and likes. A Glossary
10
can equip the client to be more independent and understand the context &
jargon better. The online school of Sharekhan is very creative, where it is in a
narrative format, describing the whole trading activity as a story than a
normal read. Thus, trying to lure the people who enjoy reading but do not
understand the jargons. A middle way for the same could be providing the
explanation for a particular term along with an example.
8. MOCK GAMES – Moneybhai.com is a huge hit amongst the potential traders. It

offers the right ground for nurturing potential traders, lead generation &
branding. Moneybhai is linked to moneycontrol, associated with CNBC-TV18
(one of the prominent cross-sectional player considered in this study).
9. PHONE GAMES – phone gaming is a more long term and viable option than the
former. The former will need infrastructure installation (unless we plan to give
it complimentary). India Games, develops games for mobile phones and is
partnered with many phone game providers. Today games on mobile phones
are more popular than otherwise, also the person can carry it anywhere,
everywhere and use it at their ease.
10. CAFÉ COFFEE DAY – the pedigree apart from lineage can be used as a channel to
directly communicate with the large masses. It can be used to popularize way
to wealth by even conducting small activities like wealth management, which
is printed and provided to the customer on his table, while his order arrives.
11. NUMERIC RED ‘2’ – Having a tangible variable to associate oneself with can
have a great impact on the recall, better recall than the words. The logo is
representative, but using the number ‘2’, too can help induce brand
association.
12. COLLEGES & EDUCATIONAL INSTITUTES – Most of the potential traders can be
targeted at the earliest stage of inception. Seminars can be conducted or
‘Trading Carnivals’ in campuses during the college fest or any social event,
creating brand awareness and recall. The association is longer and faster if it
has a social responsibility feature associated to it.
10
13. PR – apart from the researchers featuring on the television shows, we can
have write ups coming from our in-house professionals and getting printed in
the newspapers or so. If language is the barrier, the article, can be edited by
a professional and then printed. Kotak uses this tool to the fullest.
14. COLLABORATION WITH OTHER TV CHANNELS – CNBC-TV18 is one of the most sought
partner as they are not only the pioneers but leaders in the information
providers in this category. The option, wherein we tie up with a relatively new
player, competing with them can help us buy a better deal at the earlier
stages of inception, eg. NDTV, UTVi, Zee News, who are trying to enter this
domain of markets.
15. GAMUT OF SERVICES BUNDLED – On observation, all the services offered by the
players is individual. None of them are bound together to form a new service.
This can be used to out advantage, where rather than offering single service
unit, by offering our other services in ancillary to the online trading product.
Assuming that our target audience is receptive to know more, a added
guidance would certainly promote the company’s image as a very investor
friendly organization.
To finally conclude, since the features required for the product to are more than
namely,
a. Trading in equity
b. Trading in derivatives
c. Intraday & Delivery
d. Linkage to minimum 1 Demat Account
e. Linkage to minimum 1 e-bank account
f. Watchlists – 2 minimum
g. Portfolios – 2 minimum
h. Trade in NSE
i. Trade in BSE
j. Web based platform
We reject the first hypothesis.

10
Also, since our target audience is looking at the right guidance, offering our other
gamut of services viz tax planning, pms, advisory etc along with the online trading
product, will help in converting and communicating the concerns of the organization
towards them.
Thus, we accept the second hypothesis that Way2Wealth along with the online
trading platform should provide other gamut services to promote costumers to take
up online trading services.
5. References
10
i
Stock Market Liberalizations in the South Asian Region by Fazal Husain and Abdul
QayyumTP
ii
Dividing Online and Offline: A Case Study Ginger Zhe Jin University of Maryland and
NBER & Andrew Kato, Bureau of Labor Statistics June 19, 2006
iii
The Geography of Trade on eBay by MercadoLibre Ali Hortaçsu, University of Chicago and
NBER & F. Asís Martínez-Jerez, Harvard Business School & Jason Douglas. September 2006
iv
Online Broker Investors: Demographic Information, Investment Strategy, Portfolio
Positions, and Trading Activity by Markus Glaser_October 1, 2003
v
Why Inexperienced Investors Do Not Learn:They Don't Know Their Past Portfolio
Performance by Markus Glaser and Martin Weber
vi
Marketing Management - Kotler
5.2 Books & Other physical sources of Information
• The brochures and procedure guideline books by different service providers.

• Demo Cds for ICICI Direct & Sharekhan
• Marketing Management – Phillip Kotler (12e & Millenium Edition) Prentice
Hall
• E-Commerce – Strategy, Technologies & Application – David Whiteley
published by Tata McGraw-Hill.
• Research Methods for Business Students – 2nd Edition by Mark Saunders,
Philip Lewis & Adrian Thornhill published by Financial Times, Prentice Hall
• Marketing Research an applied Orientation – 4th edition by Naresh Malhotra
published by Pearson Education
Apart from these, newspaper articles published online were of great help.
5.3 Other Online Source:

1. 5paisa.com
2. Angeltrade.com
3. Adwords.com
4. Bonanzaonline.com
5. Chittorgarh.com
6. Dawnaydayavsecurities.com
7. Geojit.com
8. Google.com
9. Hdfcsecurities.com
10.Icicidirect.com
11.Idbipaisebuilder.com
12.Indiabulls.com
13.Investmentz.com
14.Investsmartindia.com
15.Investopedia.com
16.Kotaksecurities.com
17.Majorgainz.com
18.Motilaloswal.com
19.Moneycontrol.com
20.Moneybhai.com
21.MSN.com
22.Networthstock.com or Clicknetworthstock.com
23.Plindia.com
24.Rediff.com
25.Religareonline.com
26.Reliancemoney.com
27.Sharekhan.com
28.Usectrade.com
29.Wikipedia.com
30.Yahoo.com
6. Appendices
Angel Advertising25. MSN Proposal W2W MSN2. Angel Derivative Margin26. Name
Suggestions3. Angel Flier27. Networthstock Brochure4. Charles Schwab28.
Newspaper - W2W5. Chittorgarh Rate Card29. Non-Individual KYC6. Competitive
Market Analysis30. PehlaKadam – MoneyControl7. E*Trade Brochure31. Power Your
Trade8. Etrade Account Opening Form32. Rediff Rate Card9. Final Adv Budget33.
Reliance Pre-Paid Plan10. Flier - W2W34. Religare Media11. General Survey35.
Religare Logos12. Geojit36. Response Center Scope13. Google Adwords37. Results
Page14. Google Adwords 238. ShareKhan Account Opening15. HDFC Value
Account39. SMS-MoneyControl16. ICICIDirect Plan40. SSKI Essentials17. IDBI
PaisaBuilder Plan41. UTI Account Opening18. Individual KYC42. UTI Plan 19.
Kotak Plan43. UTI Transmission 20. Kotak Press Clipping44. W2W Verticals 21.
Mini-Nifty45. Welcome Letter-W2W 22. MoneyBhai Advertisement46. Completion
LetterMotilalOswal Advertisement47. Reference Note 24. MSN Proposal W2W
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STUDY OF BEST PRACTICES IN THE

BFSI SECTOR FOR MARKETING, BRANDING

& COMMUNICATIONS PLAN

FOR ONLINE TRADING PRODUCT

Project by: Ms. Naziya Diler

Balaji Institute of International Business (BIIB), Pune

Date: 22nd July, 2008

Way2Wealth Securities Pvt Ltd is in the process of launching an Online Stock

The research questions were answered by studying the macro variables,

1. Mr. Hutaib Bandukwala – my mentor and guide. The first thing as a

2. The Top Management of Way2Wealth, namely,

a. Mr. Shashibhushan – CEO

4. The Staff of Way2Wealth, Nariman Point Branch – my acknowledgment

The following activities/ recommendations were undertaken during the project:

b. Macro Industry Analysis:

d. Pre-launch activities for Way2Wealth Online Trading Product:

ii. Worked on PowerPoint Presentation for the Online Trading

e. Post Account Opening for Way2Wealth Online Trading Product:

3.2.3 Marketing, Branding & Communication 77

TABLE OF CONTENTS (CONTD…) PAGE NUMBER

4.5 Product Related Recommendations 100

Amidst such times, development of a product in anticipation of the any upcoming

Product Development is a creation of products with new or different characteristics

There are 4 product levels:

1) CORE BENEFIT The fundamental service or benefit that the

Product Management can be explained as the organizational structure within a

RESEARCH QUESTIONS RESEARCH OBJECTIVES

2. Who are my To determine the nature of competition in the

4. Where do the existing Benchmarking of Way2Wealth Products

1.4 IMPORTANCE OF STUDY

1.5 PROBLEM DEFINITION

To keep up my enthusiasm and my agile mind, he further added responsibilities,

a. International Industry Analysis:

II. STUDY ON INDIAN PLAYERS PROVIDING ONLINE TRADING IN INTERNATIONAL MARKETS:

I requested a brochure (refer annexture), which was delivered to me online

The other company which offers this facility is ICICI Direct.

iii. LOCAL MARKET PLAYERS:

When I entered the offices of the competitors, I made portrayed myself as a

With a lesson of such nature, I moved to Nerul, where I entered the

He entertained me till the end, where in I left my contact details at the

The next day, my trip began with IndiaInfoline/ 5paisa.com, located in

I began my research from Religare, where I met the relationship manager

At Bonanza Online I interacted with an assistant of one of the relationship

I wanted to visit an office of Angel Broking, located in Andheri, but it was

The interaction over the telephone with an ICICIDirect representative was an

Thus, on an average, personal visit or over the phone, I managed to cover

BARGAINING POWER OF BUYERS & SELLERS:

Way2Wealth is one of India’s premier Investment Consultancy Firm, launched with

Blue symbolizes Knowledge.

Red symbolizes Trust.

Yellow symbolizes Excitement and Involvement of the investor.

Green symbolizes Growth.

The Venture Capital division came to be known as ‘Global Technology Ventures

Our Group Companies

Mr. V.G. Siddhartha – Chairman

Mr Siddhartha’s business interests spreads across Coffee retailing, Plantations, Real

⇒ Took over Sivan Securities Ltd, in 1984

Some of his large investments include: Mindtree, Kshema Technolgies, I-Vega

Mr. M R Shashibhushan - Chief Executive Officer

Currently as CEO - Way2Wealth, he is in-charge of strategic planning. Renowned for

Known in the markets for his astute stock-picking ability.

Sunil Ramrakhiani - Chief Operating Officer

Currently as COO - Way2Wealth, he would be driving business strategy and is in-