Samco has been making waves in the industry since its arrival. The broker is on its way to the top. You can write a success story for yourself by associating with the broker. You will need to learn how to become a sub broker in Samco.
Despite arriving as recently as 2015, Samco has established itself among the top stockbroking firms in the country.
The discount broker has been climbing the ladder to place itself as a reliable name among some of the more renowned brands.
Samco has seen over 72000 customers subscribe to their Demat account services. The broker’s done a pretty good job, considering they have been around for such a short period of time.
The broker is registered with NSE, BSE, MCX, and NCDEX stock exchanges. In all the broker allows investment opportunities across various investment products and the lowest brokerage charges in the industry.
The above two factors have combined to make them a hot commodity among the trading community.
Likewise, Samco needs business partners to serve their clientele better and improve their outreach.
Therefore, becoming a sub broker in Samco holds great potential for business enthusiasts.
Even individuals who are already employed in the stock market or who have enough knowledge of the market operations can associate with the broker and earn huge amounts of profit.
So, in this article, we will be looking at all the documents required in the sub broker registration process, the associated charges, and the eligibility criteria that individuals will have to fulfill in order to become a sub broker in Samco.
Samco Sub Broker Model
Samco has only one sub broker model. This is quite contrasting to the standards of the industry, as most of the stockbroking firms offer multiple sub brokership, partnership models.
Even if the broker does not have multiple sub broker models, it still is a great prospect. The sub broker model does offer multiple ways to generate good amounts of regular income.
The broker does not offer franchise partnerships but only a referral model. The sub broker works to onboard clients to the broker.
So, an individual will be able to earn handsome commissions by referring the broker to their connections.
In addition to this, the sub broker will earn by referring Samco’s subscription-based products to their connections. The sub broker can earn for every product that a client purchases.
This serves the purpose of adding sheen to the partnership model. Under this model, the sub broker can earn you will earn brokerage commission for every client you bring to the broker.
Samco is known to remunerate its partners well. So, you can expect reasonable commission rates. As a sub broker you can earn up to 50% commission for the brokerages made by your referred clients every month.
Samco sub brokers can earn as much as a 50% commission by referring their subscription based products such as – StockPlus & CashPlus to the clients.
Samco Sub Broker Process
The Samco sub broker registration process is a pretty simple process.
An individual will have to follow the below-mentioned steps:
- Simply fill in the below-mentioned form. You just have to provide us with your – Name, Contact Number, City to initiate the process.
- We will arrange a call with a Samco representative.
- You will need to share your business objectives, your background details with the business executive on the telephonic interview.
- A lot depends on this interview. You will need to impress them with your business plan in order to be considered as a suitable fit for a business partnership. So, make sure you prepare for the interview.
- If the interview goes well. Later, the Samco representative will negotiate an appointment with you to take the process further.
- You will be provided with the commission rates of the Samco sub broker models. They will share details such as the initial investment amount, charges responsibilities of a sub broker, etc.
- Later you can set up a meeting with the executive at a location and you will need to submit the necessary documents.
- The submitted documents will be sent for verification.
- Once the documents get verified, you will be provided with the Samco Sub Broker account toolkit. This toolkit will contain your account credentials such as the login ID and password which can be used for setting up your account.
Samco Sub Broker Eligibility
There are some sub broker eligibility criteria that an individual must fulfill in order to become a sub broker. Samco, too, has a well defined sub broker eligibility criteria.
Before proceeding to the sub broker registration process, it is good to have a look at the requirements listed by the broker.
Following is the list of eligibility criteria to become a sub broker with the discount broker:
- The applicant should at least be matriculate and have SSC (Secondary School Certificate). Further, a degree in finance will be preferred.
- The applicant should be 21 years old or older.
- The applicant should have a SEBI registration certificate.
- Individuals should have a minimum of 1 – 3 years of experience in the financial market.
- The applicant has a NISM (National Institute of Securities Markets) certificate.
In addition to this, Samco invites participation from:
Womenpreneur – Homemakers & or ex-sales professionals can enroll under this model.
Finance Wizard – Professionals already working in the Finance Industry who have a keen interest in stock markets can definitely become a sub broker in Samco.
Social Media Maven – Individuals with a loyal fanbase of followers on social media platforms such as Facebook, Twitter, Instagram, Reddit, etc.
People Friendly – This model will suit individuals with a lot of relevant connections who will be able to refer the stockbroker’s services to their connections.
Business Entrepreneurs – Business entrepreneurs who have the eagerness to learn, make it big in the stock market can earn huge rewards by enrolling in this model.
Professors and Lecturers in Financial Institutes – Professors with a good amount of experience, expertise in the stock market can go for this sub broker model. The sub broke model ensures that you learn and earn all at the same time.
Samco Sub Broker Charges
The biggest appeal of becoming a Samco sub broker is that you will not have to make any investments. You can begin your business operations literally, without having to shell out a penny out of your pocket.
You can look up the entirety of the stock market industry and still won’t be able to find a better deal than this one. The referral sub broker model offered by the broker does not need any sort of investments.
You don’t have to make any security deposit with Samco, nor would you need to set up an office to begin servicing your clients.
You can enroll in this sub broker model by just simply filling in the SEBI registration form.
Documents for Samco Sub Broker
Samco mandates a couple of documents that an individual will have to submit for becoming a sub broker.
The list of documents required for registration includes – identity proof, address proof, qualification proof.
The documents for Samco sub broker are listed below:
Identification Proof – PAN card, Aadhaar Card, Passport, Driving License, Voter ID Card.
Address Proof – Aadhaar Card, Voter ID, Driving License, Rent Agreement, Passport, Hostel Address, Electricity Bill, Phone Bill.
Qualification Proof – 10th Marksheet, Copy of Graduation certificate, NISM certification
Age Proof – Aadhaar Card, Driving License, Voter ID Card, or other valid certificates where age is mentioned.
SEBI Registration Certificate
Passport Size Photographs
Samco is a fairly fresh stockbroker in the Indian stock market. Having arrived as recently as 2015, the discount broker has done a great job in acquiring over 72000 customers.
The quick strides that the broker has been making in the industry have helped them attract attention from business enthusiasts.
It goes without saying that a business opportunity with the broker is a hugely rewarding business prospect.
Samco just has a Referral type of business partnership model where the individuals have to refer the broker’s services to their connections.
The broker does not offer a franchise model where the individuals can set up an office and manage a team of professionals.
This can be seen as a drawback of associating with the broker. As individuals keen on a business partnership with the broker have no other option.
However, the fact that the sub broker model offers multiple ways to generate good amounts of regular income pretty much makes up for it.
Individuals can earn a lucrative commission for the brokerages made by your referred clients every month.
In addition to this, you can distribute their subscription-based products such as StockPlus & CashPlus to the clients and earn a hefty commission.
Individuals looking to become a sub broker in Samco will have to take care of the eligibility criteria and certain documents to complete the registration process.
If you are considering a business partnership with Samco, allow us the opportunity to help you in taking the first step.
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