Who is a Mutual Funds Distributor / Advisor?
Someone who helps an investor select the right mutual funds and facilitates the buying and selling in mutual funds for his customers.
Who can become a Mutual Funds Distributor / Advisor?
- Who has knack of selling or willing to learn art of selling
- Who has an existing customer base or willing to work on acquiring new customers
- Understanding of savings and investments is an advantage
What are the responsibilities of a Mutual Funds Distributor / Advisor?
- Being thorough with all the mutual funds concepts and staying updated on relevant news related to the mutual funds industry.
- Making customers aware and educated about the benefits of investing in mutual funds.
- Keeping customers updated about the various mutual funds schemes and helping in scheme selection based on each customer’s investment goal, income and risk profile.
- Helping investors in mutual funds transactions – purchase, sale, switch, etc.
- Regularly monitoring and reviewing the portfolios of customers.
What is the eligibility for becoming a Mutual Funds Distributor / Advisor?
- The individual’s age should be at least 18 years.
- He / she should be ARN (AMFI Registration Number) holder. If he does not have ARN at the moment, then nivesh.com will help him or her in obtaining the ARN.
What is the process of getting ARN?
To get ARN, you need to register with http://www.nism.ac.in/ and pass the NISM-Series-V-A: Mutual Fund Distributors Certification Examination. Here’s the link to the complete registration process and examination details:
What is the process of empanelment with Nivesh.com?
If you are an ARN Holder, you need to sign a Distributor agreement with Nivesh.com and submit the following self attested documents:
- Aadhaar card copy
- Pan card copy
- Passport size photograph
- ARN Certificate copy
- Cancelled cheque
What is the monetary reward for working as a Mutual Funds Distributor / Advisor?
The mutual funds industry works on trail commission model where you get paid every month for the investments by your customers. You continue to receive commission for the investments made by the customer until he sells it completely. Thus, you need to put effort once to acquire a customer but you are assured of a continuous stream of income.
In addition, there are various contests and promotions from time to time which bring additional benefits to you.
As an indication, with an Assets Under Advisory of Rs. 10 crore, one should be able to earn a monthly income of approximately Rs. 60,000.