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Broking & Distribution

Solid Research. Solid Advice

The Broking and Distribution business of Motilal Oswal Financial Services Ltd. (MOFSL) helps retail customers across the length and breadth of the country to make informed investment decisions with a strong research-based advisory service. Our services include products such as Equities, Derivatives, Commodities, Depository Services, Portfolio Management Services and distribution of Mutual Funds, Primary Equity Offerings and Insurance products.

With Solid Research, Solid Advice as our guiding philosophy, our clients are advised by the centralized advisory and dealing desk based in Mumbai. Extensive use of technology and the benefit of synergized operations under one roof have helped us deliver enhanced value to our clients.

We are able to provide these services to customers using a combination of 3 distribution models

  1. Our unique Business Partner model provides a 'win-win-win' relationship for entrepreneurs, customers and the company. Using a combination of centralized advisory, efficient execution and strong back office processes we are able to reach out to customers across the length and breadth of the country.
  2. We have a network of branches spread across major cities. These provide the company a local footprint in important markets and also opportunities to cross-sell products and services.
  3. In addition to our Pan India presence, we have a major wallet share of business from our online platforms that can be accessed through our 2 habit sensitive Mobile apps, Web platforms, Desktop application and Smart Watch App enabling customers to trade, track and review seamlessly and conveniently. We also have a bouquet of managed prepackaged products giving us a sustained revenue stream along with giving our customers readymade need based solutions.
Business Highlights
  • Presence in over 2200 locations across 550+ cities with more than 1 Million registered customers.
  • Depository assets in Equity of   56,000 Crores & Investment Products of   8,300 Crores* (As on 30th Sept 2018).
  • 30,000 Research Reports covering 230 stocks in 21 sectors.
  • 730+ training and investor education seminars conducted in FY17-18.
  • Online business is at its peak within a short period of time wherein 43% of our turnover comes from Online.
  • Organised 'Motilal Oswal Business Impact Conference (MOBIC)' an annual conclave for business partners which saw participation of around 700 partners pan India.
  • 5 times winner of Best performing National Financial Advisor - Equity Broker at the CNBC TV18 Financial Advisory Awards.
  • Awarded the Finnoviti Award by Banking Frontiers Magazine for our Smartwatch App and MO Genie Chatbot.
  • Awarded Commodity Brokerage House of the year – West Region at the MCX awards 2018.
people
  • Ajay Menon CEO - Broking & Distribution

    Ajay Menon is the MD & CEO of the broking and distribution businesses of Motilal Oswal Financial Services Ltd. (MOFSL). He is also the Whole Time Director of MOFSL.

    Ajay Menon is a member of the Institute of Chartered Accountants of India and has done his graduation from N.M. College of Commerce, Mumbai. He has also cleared the Series 7, 24 and 63 of FINRA Regulations.
    He possesses over 15 years of capital markets experience. He joined the Group in 1998 and was responsible for operations, compliance, legal, risk management, business process excellence and information technology. He has been the cornerstone of MOFSL’s strong performance track record and a driving force behind the operational excellence at the Group which has enabled the businesses to deliver strong customer delight. He has also been instrumental in various change initiatives including driving a culture of systems and processes across all group businesses. He has also engineered the development of several state-of-the-art technology initiatives to provide businesses a cutting edge and also a unique value proposition within the spaces they operate. Besides, a strong focus on compliance and risk management has helped the group deliver superior business results even during volatile market conditions.

    He started his career with Sesa Seat Information Systems.

    He loves playing Cricket and Travelling.

  • Kishore Narne Associate Director, Head Commodity & Currency Business - Broking & Distribution

    Did Masters in Financial Management from Pondicherry University.

    He joined Motilal Oswal Group to lead the Commodities and Currency broking business in 2012. He has been able to establish the brand Motilal Oswal in the space as the market share in both the segments rose multifold over the last four years and currently leads a team of over 100.

    Mr. Kishore Narne possesses rich experience of over 15 years in Commodity and Currency markets. He started his career in commodities in 2001 with Refco Commodities (currently Phillip Commodities), servicing their global customer base and creating research for global audience well before the Indian commodity markets opened up.  As Indian markets opened up, he moved to Anand Rathi Commodities in 2004 to setup their commodities broking business and built it from scratch and served at various levels for nearly a decade.

    He is a voracious reader and writes regularly for many newspapers and financial magazines. He is also a regular on various business channels and has received various accolades from several industry bodies. He has been adjudged as ‘India’s Best Commodity Analyst’ Award by Zee Business and NCDEX in 2011 and has won the award of the ‘India’s Best Research Analyst for Forex’ in 2014 by Zee Business for Motilal Oswal.

    He is an avid reader and a traveler apart from being a photography enthusiast.

  • Mr. Harsh Joshi Associate Director and Head - IFA & Investment Product Business

    Harsh Joshi presently heads the IFA & Investment Product business at MOFSL.

    He is a management graduate from the Institute of Technology & Management, Mumbai.

    He joined Motilal Oswal Financial Services Ltd. in 2000 and has handled various profiles including Client Servicing, Client Acquisition, and Franchisee Acquisition. Harsh has been responsible for developing the entire Franchisee and Branch Business of MOFSL and also played a key role in developing the Wealth Management business of MOFSL. He has also handled the Chairman’s office for the Motilal Oswal Group.

    Before MOFSL he was associated with the Lexicon Group of Companies, where he was managing the stockbroking business.

  • Gaurav Manihar Associate Director & Head, Franchisee Business - Broking & Distribution

    A Chartered Accountant by qualification, he has spent nearly 14 years at MOFSL. He is a veteran in the broking business and stock markets, having spent more than 16 years in the industry. He has rich and varied experience in the non-institutional broking segment. He also headed MOFSL PCG Broking, handling more than 2,000 HNI families serviced by a highly qualified 75+ member advisory and sales team. To his credit, he has also headed MOFSL Equity Advisory comprising 300+ equity advisors and led the advisory training function for MOFSL and worked closely with franchisees for their business development.

    Before MOFSL, he was associated with Sovereign Securities Ltd.

    He has been awarded Best Employee Award in MOFSL and Special Award for creating Advisory Talent in MOFSL.

    He loves Cricket, Travelling, Reading Books, Spending time with friends and Watching Movies.

  • Navnit Bagri Associate Director & Head, PCG Business - Broking & Distribution

    He is a Chartered Accountant from Kolkata, India and a Certified Public Accountant from Colorado, USA.
     
    Navnit Bagri presently heads the Private Client business at MOFSL. He joined MOFSL in 2004 and has since handled various profiles including Client Servicing, Branch, and Franchisee Development.

    Before MOFSL he was managing his family stockbroking business.

    He is an avid reader of finance, philosophy and behavioral science.

  • Girish Karthik Associate Director & Head Branch business (Broking & Distribution)

    He currently spearheads Retail Branch Business at MOFSL with the team size of over 1500 people across the country. He did his Masters (Finance & Marketing ) from Madras University. A True Financial Services Professional with over 20 years’ experience with the know-how of profit center management. Girish been associated with MOSL for over 14 years and his accolades include Associate of the Year 2017 (MOFSL Group Senior Leadership) and the famous The Great Manager Award 2018 from PB – The Economic Times.

    He joined MOFSL in 2004 and has handled diverse roles and responsibilities. He established brand MOFSL in South India through branch and franchisee expansion before his national responsibility. He was instrumental in the success of major retail business acquisition and mergers. He has handled all India franchisee acquisition and is an integral part of the key member’s team who developed branch and franchisee business across India.  

    Before MOFSL he was associated with Apollo Sindhoori Capital Investments Ltd (Aditya Birla Money Limited) as a founder staff member and Regional Head (broking business) western region.