Bajaj Finserv, the financial services arm of India’s Bajaj Group, plans to enter the wealth management business, including advisory services and product distribution by September this year, according to media reports.

The services will initially be launched in five cities to cater to retail customers, Sanjiv Bajaj, managing director at Bajaj Finserv, was quoted as saying. He was speaking at the launch of the new logo for the company as part of the branding initiative.

Also, the company announced that its NBFC, Bajaj Auto Finance will now be known as Bajaj Finserv Lending. This arm recently started construction equipment financing and giving loans against securities. Bajaj Finserv, which has applied for a mutual fund licence in partnership with Germany-based Allianz, is hopeful of entering the segment by 2011.