Opportunities to enter the financial markets have significantly increased as the financial sector grows at a rapid pace. On top of that, the rise of online trading and share market apps have further increased the amount of opportunities. One can take up these opportunities by becoming an authorised partner under a leading brokerage firm. This will allow individuals to work with a reputable firm, and acquire knowledge of tools and resources that are useful to build a lucrative business. In the below article, we’ve explored this opportunity, its benefits, and the steps involved in becoming an authorised partner.
Understanding the Role of an Authorised Partner
An authorised partner offers advisory services and assists with financial transactions that occur between financial service providers and clients. This allows financial firms to provide personalised attention to their users for their investments. As awareness of investment opportunities increases, the demand for financial advisors is expected to surge.
Why Should You Opt for Becoming an Authorised Partner?
As the number of Indians investing in the Indian stock market and other assets increases, the demand for financial advisory and trading services will keep on increasing. To fulfil this demand, various established financial firms are on the lookout for individuals to join them as authorised partners. These partnerships help small-time entrepreneurs at the local level leverage the resources, training, and brand reputation of big financial firms to generate a profitable enterprise.
Key Benefits of Becoming an Authorised Partner
Becoming an authorised partner opens doors to the firm’s resources, training, and workflow. Beyond this, there are several benefits of joining as an authorised partner. Some of them are mentioned below.
1. Trusted Brand Association
As soon as you partner with a reputed firm, you get the chance to put the credibility to use. Attracting potential clients becomes easier since they are more likely to trust an authorised partner of a reputable brand.
2. Access to Cutting-Edge Technology
The ways of conducting business have evolved with the addition of technology in the financial sector. Individuals get to leverage the power of state-of-the-art technology after enrolling as an authorised partner. It is with this technology that partners can perform seamless transactions and enhance client interactions. This also helps individuals to stay competitive in this digital world.
3. High Revenue Sharing
The potential for high earnings is one of the most attractive aspects of becoming an authorised partner. With this business model, partners can maximise their profits while providing valuable service to their clients.
4. Training and Support System
The training provided by the financial firms covers various aspects of the financial advisory services such as wealth management and investment strategies. This training equips partners with the knowledge required to effectively advise their clients.
5. Lower Initial Investment
The investment needs to become an authorised partner and starting your own venture is lower than starting and operating a full-fledged brokerage firm. This makes the ‘partnership with a firm’ a lucrative option for many business-minded individuals.
Steps to Become an Authorised Partner
Even though the exact steps might differ from firm to firm, the overall steps involved in becoming an authorised partner remain the same as described below.
Step 1: Registration and Documentation
Individuals who are interested in becoming an authorised partner start their journey by filling up the signup form, providing the basic details and completing the registration process. Next, the individuals need to submit the necessary documents (mostly identity proof and residential proof). This is necessary to complete the Know Your Customer (KYC) verification.
Step 2: Completing the Training Sessions
After the individuals have completed the registration, they will have to undergo training sessions to learn various aspects of wealth management and investment strategies. These sessions also prepare them for smooth client interaction.
Step 3: Launching their Venture
After being equipped with the knowledge of the firm’s services and the ability to interact with a client, individuals become partners and gain the authority to start offering their services as financial advisors.
The Impact of Share Market Apps
On the individual’s self-learning journey, an authorised partner can work closely to guide them on the effective use of these apps. This can be done by providing valuable insights into the current market trends and personalising advice based on the individual’s financial goals. However, to be in such a position, partners need to establish trust with their clients. This is possible by maintaining regular communication, updating the client on market conditions and sharing plans for overcoming the regular ups and downs of the market. Share market app have allowed more individuals to invest independently.
Conclusion
There are various benefits of becoming an authorised person of a reputable financial firm. Some of the benefits are access to advanced technology, having the ability to leverage the brand, comprehensive training, and revenue sharing model. As India continues to grow, the number of investors will increase and so will the demand for personalised investment strategy providers i.e., authorised partners. Aspiring entrepreneurs can grab the opportunity to partner with a trusted brand and build a rewarding career in the thriving field of finance.
