“We are aware of inaccurate messages circulating on WhatsApp and social media that suggest HDFC Securities is closing its franchisee business due to compliance issues,” the company said.
In an official clarification, the firm stated that the decision to pause franchise partnerships was a strategic move taken earlier this year to streamline operations and enhance service quality, and was not related to any compliance concerns.
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“We want to clarify that our decision to pause partnerships was a strategic move made earlier this year to streamline operations and enhance service quality rather than being related to compliance concerns,” HDFC Securities said.
The brokerage underscored its strong performance across business verticals, including its low-cost broking platform, HDFC SKY, and investment advisory service, HDFC TRU. HDFC Securities reiterated its commitment to delivering high-quality financial solutions and thanked clients and stakeholders for their continued trust and support.
“HDFC Securities continues to demonstrate consistent growth across all business lines, including our low-cost broking platform, HDFC SKY, and our investment advisory service, HDFC TRU. We remain committed to providing high-quality financial solutions and appreciate our clients’ and stakeholders’ trust and support,” it added.
First Published: Nov 27, 2024 10:58 PM IST
