Without a doubt, Sharekhan is a catch. Not only for trading services but also for business partnerships. Individuals interested in the same have a tough time figuring out how to become sub broker of Sharekhan.
If you too fall in the same category, well, worry not. That’s exactly the query we’re taking up today.
Any talk of the best stockbrokers in the country seems incomplete without the mention of Sharekhan.
The full-service stockbroker remains high in demand for Demat account services as can be seen from their ever-increasing customer list.
Sharekhan was established in 2000 and has evolved itself with time into one of the top stockbroking service providers in the country with over 6.13 Lakh active clients as per NSE reports.
This makes them one of the first choices for business partnerships. The stockbroker offers clients several sub broker opportunities.
This clearly points towards that Sharekhan is among the top priority for many stock market enthusiasts.
This includes traders, investors who want to avail Demat and Trading account services, as well as individuals interested in a business partnership program.
While the former two are taken good care of in that regard, it is the latter group that has difficulty in finding the correct information on how to become a sub broker of Sharekhan.
Sharekhan Sub Broker Model
There are two methods to associate with the stockbroker. Each Sharekhan sub broker model has its own set of perks for the individuals, and differ in terms of requirements, initial investments amount, etc.
The Sharekhan sub broker models are as follows :
Sharekhan Power Broker
Under this sub broker model involves individuals to bring in more and more customers to the brand and offer services to traders who trade on their own.
The model will benefit individuals who are already registered sub brokers, financial advisors, financial instruments dealers.
Here, the individual will get to deal in the complete catalog of financial instruments offered by Sharekhan. Thus, ensuring the sub broker a wider audience to cater to.
Under, this model, the sub broker can earn a commission of anything around 70% per transaction made by the client.
Sharekhan Remisier is a sub broker model where individuals earn by referring their connections to the full service stockbroker.
Under this model, the major role of a sub broker will be to bring clients that want to open an account with Sharekhan.
The earnings of a sub broker completely depend on the number of clients it refers to the stockbroker. This model will suit individuals who have strong connections.
Further, the Sharekhan Remisier model doesn’t require an individual to set up any kind of infrastructure, thus saving investment money.
The Sharekhan sub broker commission under this model is negotiable.
Sharekhan Independent Financial Advisor
Under the Sharekhan Independent Financial Advisor model, the individuals can only distribute Mutual funds.
An existing financial products distributor or Financial advisor can become a Sharekhan business partner and deal in mutual funds only. To learn more, how to become a sub broker in mutual funds.
The benefits of becoming a Sharekhan Independent Financial Advisor include :
- the facility of dedicated relationship managers to High Net Worth clients
- all the applications, tools packed with advanced web-based technology
Plus, the huge brand name of the stockbroker ensures that the Sharekhan IFA gets to extend its services to a greater consumer base.
The Sharekhan offers 60 – 70% commission to the sub broker in this model.
High commission rates are one of the many advantages of choosing Sharekhan for business partnership. To know more, read why partner with Sharekhan.
How to Become Sharekhan Sub Broker?
Once the individual has checked the eligibility criteria, they may proceed to learn how to become Sharekhan sub broker.
The Sub-broker offers various partnership models to clients, each offering varying benefits. The Sharekhan sub broker process includes the below mentioned simple steps :
- Provide your Name and Contact Number in the below-mentioned form and we will arrange a call from a Sharekhan representative.
- You can share your background details with the representative and discuss your business objectives, revenue sharing, investment amount, and business particulars.
- After this discussion, you can also set up a physical meeting with the Sharekhan representative to provide your documents required for the sub broker registration process.
- Pay the Sub broker registration fees and submit the documents. Post this, the documents will be sent for verification.
- Upon document submission and verification, you will be provided your Sharekhan Sub broker account login credentials – Login and Password.
For more details, you can check how to become sub broker in NSE?
Sharekhan Sub Broker Eligibility
Further, there are some requirements that an individual needs to fulfill before applying to become a sub broker. The stockbroker offers various sub broker models and thereby has a different list of sub broker eligibility criteria for each model.
The Sharekhan sub broker eligibility criteria are listed below :
- The individual must be above 21 years old.
- SEBI Registration Form is the first and foremost requirement to become a sub broker.
- Individuals with requisite experience in the stock market or any finance-related industry will be preferred.
- The candidate must have a Graduation degree.
The Sharekhan sub broker registration process involves paying registration fees, initial security deposit amount.
In some cases, the individuals will also need to pay a minimum investment cost upfront at the time of registration for becoming a sub broker with the stockbroker.
The list of sub broker charges are as follows :
Documents for Sharekhan Sub Broker
The applicant has to submit a couple of documents to register as a sub broker with the broker. The list of documents is mentioned below:
- The individual must possess the SEBI Registration form.
- Graduation Certificate
- ID Proof – Aadhaar Card, Driving License, Voter Card, PAN Card, Passport.
- Address Proof – Electricity Bill, Phone Bill, Aadhaar Card, Ration Card.
- Age Proof – Birth Certificate, or any of the above documents with mention of Date of Birth
- Passport Size Photographs
Sharekhan, the full-service stockbroker is one of the most recognized brands in the industry. As per the latest NSE reports Sharekhan has as many as 6.13 Lakh active customers.
This mammoth customer base draws the attention of individuals interested in a business partnership with the stockbroker.
Thus, they are faced with a couple of queries in regards to how to become sub-broker with the full service broker. There are many ways to associate with the stockbroker.
Each model varies in operations, requirements, and suits different needs of entrepreneurs. As for the registration process, the applicant will need to provide the mandatory SEBI sub broker registration form in addition to a couple of documents.
The whole process will require individuals to pay a couple of charges, including the registration fees, security deposit, and in Sharekhan Power Broker even an initial minimum investment amount.
The stockbroker has a lucrative revenue sharing model where the individuals can easily earn up to 60 – 70% commission.
Thus, any partnership model with the brand is hugely rewarding in monetary terms and has equally huge growth potential.
Just make sure you fulfill the eligibility criteria.