Sharekhan is one of the most credible stock brokerages in the industry and has been in the stock market sector for over 16 years. They provide a wide range of services from equity, commodity, currency trading to mutual funds, IPO, investment, saving packages, portfolio management services, etc.
Sharekhan also allows people to partner with them through their sharekhan franchise. Sharekhan franchise is known to be the largest stockbroking franchise when it comes to numbers. They have around 3000 sub-brokers across 580 cities in India, providing a wide range of services under their name and support.
The sharekhan franchise is divided into two main branches:
- Independent financial advisors (IAF)
According to SEBI, the sub-broker will be converted to an authorized person with the same roles except for slight changes in the registration process, which will be discussed later in the article. The new registration will be in the name of the authorized person instead of the sub-broker.
Under this branch of Sharekhan Franchise, the sub-broker can serve clients who trade online through Sharekhan's trading application. They offer various offers and service packages to their sub-brokers which allows them to gather more clients, such as a dedicated relationship manager for equity sales, risk monitoring, and operations-related issues. Moreover, Sharekhan takes up the full marketing support and makes sure that sub-broker's setups are well trained and educated.
To become a member of Sharekhan sub-broker branch, you must make an initial deposit of INR 50,000. Moreover, the infrastructure cost should also be considered as you will be needing a place in an attractive location to handle and deal with the clients.
The revenue sharing model is lucrative as they offer commission up to 70% to their sub-brokers. This factor makes this branch attractive and profitable.
However, there are other benefits linked with Sharekhan sub-broker branch, such as:
- They offer a wide range of products and services to sub-brokers which allows them to attract more clients.
- The relationship manager takes care of serving clients, improving sales, and controlling risk and operations.
- A good bandwidth to capture a good client-base.
Sharekhan Independent Financial advisor (IAF)
This branch is restricted to a specific range of products, namely mutual funds, and allied products. To become a member of this branch your responsibility will be as an advisor who will guide clients to make investments.
You must make an initial security deposit of INR 50,000 and take the infrastructure cost into account. As you will be handling clients, you will need an excellent place to entertain them and advise them.
The revenue-sharing model is quite like that of Sharekhan's sub-broker branch as you can get a commission in between 60%-70%.
You must consider the benefits of becoming Sharekhan's Independent Financial Advisor:
- As this branch has a limited range of products, you can focus more on those specific services.
- Relationship managers will be there to assist you with advisory and other matters related to operations.
- Sharekhan allows modified solutions for high net worth individuals.
Sharekhan Franchise - Eligibility Criteria
To become a member of Sharekhan's Franchise, there is certain criteria you must fall on:
- You must obtain sub-broker registration from the stock exchange, i.e., BSE or NSE. The is the first and most crucial step.
- You must be above or at least 18 years old to become a sub-broker for Sharekhan.
- You must have prior experience in the stock market and financial sector.
- The minimum qualification is a graduation to become a sub-broker for Sharekhan.
- Certifications related to finance or the stock market will boost your sub-broker profile.
Documents required to become a sub-broker for Sharekhan
Below are certain documents you must have to qualify for becoming a Sharekhan's sub-broker:
- Address proof to the broker e.g. Aadhaar card, latest telephone bill, electricity bill, passport, valid driving license or most recent bank statement.
- Proof of identity with PAN or Aadhaar card.
- Registration certificate copy.
- Experience certification's copy.
- Academic qualification certification's copy.
- Security deposit cheque.
- Proof of investments.
Sharekhan has strong dominance in the brokerage industry and offers people a chance to work with them through Sharekhan franchise. Apart from a lucrative revenue sharing model and advisory support, they offer various other services such as reduced brokerage rates for sub-brokers clients, reduced investments, less margin money, free Demat account, and above all, quick online procedures.
All these factors make the Sharekhan Franchise a good working and investment opportunity.
Why partner with Sharekhan?
The last part of this article will leave the final decision up to you as to why Sharekhan Franchise is highly profitable.
- Brand Name: The name itself will help you in your career growth and will allow you to attract profitable clients.
- Attractive Offers: Sharekhan offers various offers to its sub-brokers that make it easier for them to capture more clientele.
- Marketing and Training support: Sharekhan goes over and above to promote your branch. Moreover, they provide training through seminars to their sub-brokers.
- Advisory and research: Apart from their relationship manager providing advisory, they carry in-depth research and provide sub-brokers with stock tips and recommendations. This allows the sub-brokers to pitch these tips to their clients.
- Technical Support: Sharekhan provides technical support to make the experience of trading worthwhile for traders.
- Attractive brokerage rates: They provide special rates for client segments. A trader may get prepaid and post-paid plans with affordable rates.
- Trading platform: Sharekhan is well-known for its mobile and web-trading platform. These platforms have various types of features and tools, which are updated regularly to provide a good trading experience.
All these factors are the reason why Sharekhan is dominating the brokerage and sub-brokerage industry.