Elite Wealth Associates Vs ICICI Direct Sub Broker can be seen as one of the most sought out stockbroking partnership business comparisons in the industry.
At one end of the spectrum is conventional and well-established Elite Wealth associate is one of the franchise business in India with a good reputation.
Ravinder Prakash Seth established it in the year 1990 and it has its headquarters located in New Delhi. Being a new player in the stockbroking industry, it is not very huge in size, which is really okay for a new business.
This stockbroker supports the growth of small entrepreneurs because it considers such business ventures would create a win-win situation for the firm as well as the sub-broker.
The best thing about this stockbroker is that the clients can get service customization to suit their requirements. Its customer-centric approach enables it to flourish in the business.
On the other end, ICICI Direct – one of the top-notch full-service stockbrokers in India with over 1000 offices across different parts of the country and a prominent brand name.
ICICI Direct is among those institutions that recognized the growing trend of the financial markets as well as the investment business. In the year 2003, its partnership offer in terms of ICICI Direct sub-broker business began
In order to cater to the inclination of people, ICICI Direct decided to start retail channels through which the potential customers from the smaller cities can be acquired.
Over 400 locations having 1200 franchise outlets were served by ICICI Direct when it took off in its initial years. Currently, there are more than 1050 offices of ICICI Direct, found in both Tier-I and Tier-II cities.
This is suitable for someone who wants a regular passive sub-broker income besides practicing his own profession, which can be trading in the stock market or some other business also.
Elite Wealth Associates Vs ICICI Direct Sub Broker Basics
Let’s have a deeper look into their respective business partnership propositions where we explore information on their:
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- Company Background
- Business Models
- Revenue Sharing
- Initial Costing
- Office Set-Up Requirements
- Broker Support
- Broker Offers
- Account-Related Charges
- Brokerage
- Overall Ratings[/su_list]
By the end of this Elite Wealth Associates Vs ICICI Direct Sub Broker comparison, you should hopefully be able to take a decision on which stockbroker you must be partnering with!
| Broker/Comparison Entity |  |  |
| Overview | ||
| Company Type | Private | Public |
| Broker Type | Full Service Broker | Bank-Based Full service |
| Founded In | 1990 | 2003 |
| CEO | Ravinder Prakash Seth | Vijay Chandok |
| Headquarters | New Delhi, Delhi | Mumbai |
| Sub Broker Activation Duration | 35 Days | 7-10 Busineess Days |
| Payout Frequency | 20 Days | 30 Days |
| Network Strength | 100+ | 2250+ |
| Active Clients | 10 Lakh+ | 8 Lakh+ |
| Clients Complaint Percentage (Industry Average: 0.06%) | 0.04% | 0.01 % |
| Business Models | ||
| Sub Broker/Authorized Person |  | |
| Franchise | |  |
| Master Franchise | | |
| Remisier | | |
| Referral Plan | | |
| Entrepreneurial Partner | | |
| Revenue Sharing | ||
| Sub Broker/Authorized Person | 50% to 80% | 40 % to 70 % |
| Franchise | NA | N/A |
| Master Franchise | NA | N/A |
| Remisier | 20% to 30% | 20 to 40 % |
| Referral Plan | NA | 10 % |
| Entrepreneurial Partner | NA | NA |
| Initial Costing | ||
| Sub Broker/Authorized Person | ₹ 1 lac onwards | ₹1 to ₹2 lakh |
| Franchise | NA | NA |
| Master Franchise | NA | NA |
| Remisier | ₹ 15,000 to Rs. 30,000 | ₹70,000 to ₹1,00,000 |
| Referral Plan | NA | ₹0 |
| Financial centre | ₹ 500000 to 800000 | NA |
| Office Set Up Requirements | ||
| Office Area | | |
| Employees | | |
| Internet Connection | | |
| Trading Terminals | | |
| Call and Trade Facility | | |
| Telephone Support | | |
| Research and Tips | | |
| Client Visit Facility | | |
| Broker Support | ||
| Marketing Collaterals & Campaigns | | |
| Trading Assistance | | |
| Research & Advisory | | |
| Back Office Support | | |
| Sales and Acquisition Training | | |
| Trading Platforms Training | | |
| Initiative Seminars/Webinars | | |
| Broker Offers | ||
| Zero Deposit Trading Account | | |
| Free Demat Account | | |
| Referral Bonus | | |
| Brokerage Cashback | | |
| Flexible Revenue Sharing | | |
| No Cost Sub brokership | | |
| Offsite Programs for Top Partners | | |
| Account Related Charges | ||
| Demat Account Opening | ₹ 230 | ₹0 |
| Demat Account Maintenance | ₹ 333 per Annum | ₹0 |
| Trading Account Opening | ₹0 | ₹0 |
| Trading Account Maintenance | ₹0 | ₹700 |
| Trading Platform Charges | ₹0 | ₹0 |
| Brokerage | ||
| Equity Delivery | 0.33% | 0.55% |
| Equity Intraday | 0.03% | 0.275% |
| Equity Futures | 0.03% | 0.03% to 0.05% |
| Equity Options | ₹ 33 per Lot | ₹35 to ₹95 per lot |
| Currency Futures | 0.03% | 0.03% to 0.05% |
| Currency Options | ₹ 33 per Lot | ₹10 to ₹25 per lot |
| Commodity | 0.03% | NA |
| Overall Ratings | ||
| Broker Background |  |  |
| Business Models |  | |
| Revenue Sharing | | |
| Initial Costing | | |
| Office Set Up Requirements | | |
| Broker Support | | |
| Broker Offers | | |
| Account Costing | | |
| Overall Partnership Rating | | |
If in case you need help in getting started with your stockbroking business or you want to become a sub-broker with any of the prominent stockbrokers, let us assist you in taking the next steps forward:
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