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POSTED BY ON September 30, 2010 12:28 pm COMMENTS (7)
I have been exposed to Stock Market and Mutual Funds for quite some time .I have basic idea on MutualFunds.Now, I want to become a Sub broker for distribution of Mutual Fund Schemes during my leisure time and get engaged.Please let me know what is the criteria to become Sub Broker and is there any online exams to be completed and who are the connected agencies to be contacted .What may be the approximate Cost involved in this process.
I will be greatful if any body can throw light in this regard
Regards
Prabhu
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One of my friend wants to invest in Mutual Fund Schemes in the name of his child on long Term basis through SIP for a period of 15 to 20 years for child’s future requirement like Higher Education/Marriage etc.He is ready to invest Rs 5000/- per month.Please suggest applicable Mutual Fund Schemes taking minimum risk and expecting returns ranging from 12 to 15%.Also please let me know is it advisable to invest through broker or directly with Asset Management Groups
Regards
Prabhu R
Invest in 5 fund ….each fund will be 1000.make portfolio in large cap,small cap and mid cap,micro cap and another is banking and finance sector
Prabhu ,
You are welcome and any further assistance required do let me know.
Regards
Adarsh
I would suggest your to become direct broker for mutual funds & sub-broker for stock-market. For mutual funds, you need to clear the exam & then apply to AMFI. The cost involved is Rs.1000/- for exam & Rs.5000/- with AMFI. They have revised these charges couple of months back.
Just contact any AMC, and they will help you in this matter.
Hope it will help you.
MoneySavingsHelp
Hi Prabhu ,
Your question is about distribution of mutual funds or a sub brokership with the Stock Broking Firm.
Well if you are interested in the distribution of mutual funds then in that case you need to clear an online exam conducted by NISM which is conducted on a daily basis and on completion you would have to apply with AMFI (Association of Mutual Funds in India) for an ARN Number and after which you would have to apply with various Asset Management Companies for becoming a distributor with them and then you would be able to advise investors and sell various mutual fund scheme to them. This is the process in regards to sell a mutual fund.
If you want to be a sub-broker for mutual funds then you can contact various stock broking firms and they would give u details about becoming a sub – broker with them for mutual funds.
In case of becoming a Sub broker for Stock Market Transactions then there are various schemes offered by various Stock Broking Companies so it would be advisable that you could contact them on a personal level to understand the various costs that would be associated on setting up a sub-broker business.
Hi Adarsh
Thanks for furnishing some details to become a broker/sub broker .I am interested only in Mutual Fund Distribution and not interested to become broker or sub broker for Stock Market.I will look into the details and contact concerned
Thanks
Prabhu
I don’t have any specific information but I would suggest contacting Angel Broking and I’m sure they can give you the full details.
More info at http://www.angelbroking.com/SignUp/sub_broker.aspx