Become a Stock Market Sub Broker

Okay, so before we get to the part where we see can see that how you can grow as an authorised person of Religare Broking, let’s quickly take a look at a few things that you would first need to do.

1. Your very first step needs to be as calculated as you are, which involves choosing the right broker partner after all you don’t’ want get affiliated with any broker partner who is heavy on pocket for your clients. However, it’s not at all complicated with Religare around you and with the market reputation we carry, finalising your decision to get associate with us gets far easier.

2. Once you’ve chosen the right broker partner, the next step would be to ensure that you meet the eligibility criteria set by the broker.

3. Post meeting all the eligibility criteria, you simply need to get yourself enrolled with the stock broker. The enrolment process involves submission of duly filled application forms, relevant documentary evidences, and payment of security deposit along with the registration fees. However, the security deposit amount varies from broker to broker and it may range between Rs. 50,000 to Rs. 3, 00,000.

4. Once you are through with your document submission and payment of all the requisite fees, the stock broker will process ahead with the verification of the same.

5. Once your application is successfully verified, you are ready to start your race to financial freedom with your login credentials.

Here's the hard part but with the flow the journey becomes far easier. Now that you know how to start a sub-broker business, it’s time to focus on how to grow it bigger and better. Developing your sub-broker franchise requires a lot of effort, time, and dedication but with all the calculations and partner broker support that you will get the journey to success will become like moving ahead step by step with each step motivating and inspiring you to sail ahead. Here are some tips that you can follow.

1. The very first step involves knowing the King of the business – The Clients. You need to aggressively work towards building a database of prospective clients. Initial booster can be reaching out to all who are in your mobile contact list. Once they are your clients and with your service commitments and conviction you can get as many contacts as possible from them. Happy and satisfied customers are the first and by all means the best source of lead generation with highest conversion rate

2. Once you’ve built your database, the next step is to reach out to them by all means and methods you can think of, few means may be through sending emails or by simply calling them at the time which suits them as this is the best time to put your first impression which will decide your soft landing in client’s mind’s runway. Go ahead be an extrovert and introduce yourself to them, let them know how you got their contact information, and proceed to explain how you can help them invest in the financial markets and fulfil their dreams, some of which they just thought off while you were introducing yourself to them.

3. Now it’s time for the feedback, if you get a positive response then you are now confident that you have done what you were planning to achieve before calling the client and have given him enough reason for setting up a meeting which can be as soon as possible. This personal interaction will help you build a trustworthy relationship and show your intellects.

4. If you land a client, request them to make referrals. Also, don’t stop with cold calling just because you’ve landed a few clients. Continue doing it regularly.

Conclusion : Ensure you are following the tips mentioned above religiously and then just see how effortlessly you start your venture and sail through your journey to success of your own sub-broker franchise in an efficient and profitable manner.

To answer this we need to understand on what factors earning is dependent on and they are percentage sharing offered by partner broker and the ability of an individual to sell and market the product and services offered by the broker by attracting maximum number of customers. Higher the volume higher will be the revenue levels. So, primarily the capabilities of an individual decide the quantum of business success.

Let us look at the various factors that affect how much an authorised person earns:

• Choosing the right broker: Since income is directly proportional to sharing which you being offered by your broker hence, it is essential to choose the right broker. Religare Broking offers you highest Sharing.
• Support and infrastructure: Another factor that affects authorised person earnings is the kind of infrastructure and facilities that a broker provides. It is tough to acquire clients without marketing support, technology, and other support from your partner broker, as availability of these positively impacts earnings. Religare Broking offers excellent infrastructure and support to its franchisee Network, including an advanced technological interface with features like digital marketing, business dashboard and complete back office solutions. Also, having a comprehensive training for authorised person helps in enhancing skills of authorised person.
• Knowledge: When you ask, “how much does an authorised person earn?” there is one crucial factor that contributes a lot to it, and that is knowledge. Authorised person must have the knowledge of the market and stocks so that they are in a position to guide the clients on building their portfolio. Authorised persons also need to keeps themselves updated on the economic environment and global financial and geopolitical events taking place as these factors heavily affect the stock market movements.
• Costs: How much an authorised person earns also depends on the costs involved. There are two types of expenses–capital costs and working expenses. There are some fixed, one-time costs like the deposit parked with the Religare Broking and exchange registration charges. Capital costs include expenses incurred on setting up offices, computers, phone lines and so on. Working expenses include rent on the offices, salaries to staff, telephone bills and so on. With Religare Broking, you can start your business from anywhere with minimum office costs.
• Products offered by the Broker: Another factor to consider while choosing a broker is the kind of products, they offer. Brokers offering a wide range of products help in enhancing the reach of the authorised person to wide range of customers thus boosting his earning possibilities. Religare Broking provides a wide range of products to meet different investment needs, including equity, derivatives, commodities, currency, wealth management, personal finance, and so on.

As we have mentioned earlier, authorised person income comprises of commissions earned on each transaction made on behalf of the client. This will depend on the brokerage, for example, if you charge 0.30 % brokerage to your client on delivery trades and if the client had bought/sold 10 lacs worth stock in delivery trade then total brokerage will be Rs.3000. An authorised person’s earning will depend on the percentage of this sharing in brokerage. Religare Broking pays a commission between 50 to 70 % depending upon the partnership model, hence the authorised person’s share could between Rs 1500 to Rs 2100. Hence to earn Rs 50k -80k per month, he or she will have to carry out transactions worth Rs 20 lakh on daily basis. Further including other segment and various third party products will help to grow his/her income manifold.