Have you heard about the Elite Wealth? But before jumping over to how to become a sub broker in Elite Wealth, are you aware of the meaning of sub-broker?
A sub-broker is a member who is assigned by a stockbroker and works on behalf of a Trading Member as an agent, but he is not a Trading Member.
Elite Wealth is not that old stock broking company that provides the full brokerage service throughout the nation. Ravinder Prakash Seth founded it in 1990, and its headquarters is located in New Delhi.
Yes, the SEBI registered Elite Wealth is a member of the major stock exchanges in the country – NSE, BSE, MCX. Further, the broker is a depository participant of NSDL. All these memberships prove the efforts of the broker in the market until now.
Using these memberships, you can use the offers and services like wealth management, portfolio management, investment advisory, etc.
In this article, we will help you to know all the related details about how to become a sub broker in Elite Wealth, like types of business models, eligibility criteria, documents required, etc required for the sub broker registration process.
Elite Wealth Sub-Broker Business Models
Elite Wealth provides you three types of business associate models through which you can associate with them. Each sub broker model has its own advantages, revenue sharing, working procedure, and associated charges.
So, if you want to become a sub broker, there are 3 types of sub broker models offered by the broker:
- Business Associate
- Financial Centre
Elite Wealth Business Associate
In Elite Wealth Business Associate, you need to obtain the clients to make their business run. You have to set-up office space with the necessary infrastructure to work.
This model gives support to the business associate in every step taken by the broker. They get help, like research tools, technical support, trading tools, etc.
A business associate keeps a high percentage of revenue generated by them, and for this, they require to deposit some amount of security money with a broker.
Below are some of the benefits a business associate gets :
- An excellent opportunity to become an entrepreneur.
- You can have the right to access all tools and technology with research reports.
- The benefit to fix the brokerage of your clients.
- Easy to open an account with a minimum investment amount.
Elite Wealth Introducer
You don’t have to do much work under the Elite Wealth Introducer. Introducing the customer to the company is the only job you have to do. The rest of the work needs to be done by the company.
This model is best for those who want to earn extra money and already have a client base. You don’t have to set-up any office space to work. As per your comfort, you can work from anywhere.
Benefits of Elite Wealth Introducer :
- You will get flexible revenue sharing for your satisfaction.
- Low-security deposit required.
- Get the opportunity to earn extra.
Elite Wealth Financial Center
If you want to enter the business of client service and advisory business, then this is the best model that will fit you. In this model, you have to invest in the infrastructure and have a good client base.
This model revenue system is the same as the business associate model except for the services provided.
Benefits of Elite Wealth Financial Center :
- An opportunity to start your own business.
- Flexible revenue sharing is provided.
- It gives the right to access all the trading tools and technology.
Elite Wealth Sub Broker Revenue Sharing
Elite wealth is very good at offering business opportunities to its investors via its sub-broker business model. Before working with any company, you should know about their revenue sharing model.
Elite Wealth Revenue sharing model is listed below :
As is clear from the above table that the Elite Wealth Revenue sharing model in which whatever amount will be earned by the Business Associate, Introducer, and Financial Center will be given by them to their Clients as per 50%-80%, 20%-30%, and 50%-90% respectively.
How To Become a Sub-Broker with Elite Wealth
Elite Wealth is one of the famous companies in the stock market. It is also known for its business program facility for sub-brokers to make good revenue with ease.
Follow the steps given below to become a Sub-Broker with Elite Wealth :
- You need to visit the official website of the broking house and complete the registration process.
- The registration process includes the details like name, mobile number, email, and your city. Fill in these details correctly.
- Once the registration process gets complete, you will get a call from the customer executive for verification.
- Once the verification gets complete, they will fix a meeting for you with the respective person of the company.
- In the meeting, you will be briefed about the company’s information and license program and then the relationship manager will ask you about your details.
- You need to give them the correct details and it will be verified and sent to the SEBI.
- Then the SEBI will verify your details and give you a license to open your business.
- After this, you will be given account details to set up your office.
- All this process will take at least 1 week to complete.
Elite Wealth Sub-Broker Eligibility Criteria
The company provides all the benefits to increase financial welfare. So, if you are thinking to become a sub-broker of Elite Wealth, fulfill the below given eligibility criteria :
- You should belong to India.
- You have to be registered with SEBI if you are interested to become a partner of the company.
- Check all the required documents that need to be completed before you apply for the licensed program.
- Make sure you have completed the 12th from a known government institution.
- If you want to be a sub-broker, you should have experience in either of these fields-mutual fund advisor, CA, insurance agent, etc.
You can read how to become sub broker in NSE if you want a business opportunity with a broker registered with the stock exchange.
Elite Wealth Sub Broker Charges
There are some charges involved in the sub broker registration process. An applicant will have to pay up the Elite Wealth Sub Broker Charges as per the type of sub broker model they choose.
These charges depend on the business model and in some cases are even negotiable as well.
Elite Wealth Security Deposit
If you want to become an authorized person of a company, you need to deposit the company’s company’s security amount for the registration.
The security deposit will be charged between Rs.15,000 to Rs.30,000. But if you want to have a higher revenue share, you need to deposit the security deposit.
Always remember the security deposit you submit is still refundable. Once you decide to leave the company’s model, you will get a refund of your security deposit.
Elite Wealth Infrastructure Cost
It is one of the reliable companies in the stockbroking houses. And if you want to obtain the company’s license program, then you should meet the following requirements given below ;
- Sub-broker needs to arrange an office area of around 200 sq feet for work.
- He must have at least 3 employees for better management.
- Telephone lines are also mandatory for easy communication between clients and employees.
- A good internet connection is required to buy and sell the shares.
Documents Required To Become a Sub Broker in Elite Wealth
You need to submit the following documents to become a Sub-Broker in Elite Wealth :
- PAN Card
- Passport sized photographs
- SEBI registration certificate
- Payment proof for the security deposit
- Birth certificate
- GST registration
- Investment proof
- Academic certificate
You can trust Elite Wealth because it is one of the trustable stockbroking companies in the Indian market. This company allows all the financial services to their customers.
Working with Elite Wealth, you can earn attractive earnings. This company provides you with so many benefits like minimal charges as a security deposit, flexible revenue shares, convenient support service, etc.
Elite wealth offers multiple business models to those who want to work with them. And different types of business support is also offered to help them establish in the stock market.
So, if you are interested in becoming a sub-broker in elite wealth, you can go with this helpful and supportive broking house for excellent business success.
In case you wish to become a sub-broker or a stockbroking business partner in any capacity, let us assist you in taking the next steps forward: