How to become a Mutual Fund Broker in India?

Question

How can I become a mutual fund broker of indian mutual funds for indian clients.Not specific to a single company but can sell any mutual fund according to the need of the client.Also if possible please provide me the details of average commision paid by mutual fund companies in India

Answer 1

To become a mutual fund broker/advisor you have to clear the AMFI Exam which is conducted by the Association of Mutual Funds In India. After clearing the exam you shall be given a certificate which in turn, has to be registered with AMFI asking them to provide you with the AMFI Registration Number, (ARN Number) using which you can get yourself empanelled with any of the Mutual Fund companies or AMC's as an agent to sell Mutual Fund Products in India. You can empanel yourself for more than one AMC also. The average commision paid to a broker/agent is 1.5% - 2.5% for equity schemes and 0.25% - 1.25% for debt schemes. This varies from one AMC to other.

Answer 2

If u want to become a mutual fund broker or Agent in india, u must take AMFI mutual fund Advisor Test, only passed candidates are allowed to work as broker,
for more details visit www.amfiindia.com

Answer 3

Please get into touch with the PR offices of all the mutual funds or visit their websites and let them know that you are willing to be a broker getting them business. You can visit the head or marketing offices, too,
The brokerage depends on the quantum of business you will manage to garner.
But the first steps first. Contact them.

My best wishes for your sucess.