IIFL Sub Broker Ship – Franchise, Authorized Person, Partner Review

Introduction to IIFL:

An introduction to the company background is equally important before actually discussing the business models of IIFL.

This discussion will help an investor to understand the strength of the organization and then decide whether to invest in IIFL or not.

In the world of the financial industry, IIFL, i.e. India Infoline, has placed itself in a good book and its success story is always in talk within the broker’s world.

Today the organization covers its business spread over a wide geographical range in the country.

The company falls within India’s top stock broking house and engages itself in a wide variety of investment products.

This Full-Service Stock Broker has its business spread across over 900 cities and towns with a sub-broker or partner strength of more than 4000 and deals with Equity, Commodity, Currency, Mutual Funds, IPO, etc.

This trusted brand has come into existence in the year 1995 and as a Full-Service broking house and developed a few lucrative business partnership models with innovative frameworks.

Mr Nirmal Jain who is the founder and chairperson of this organization started its operations with its headquarter in the city of Mumbai in Maharashtra, India.

India Infoline Limited was formerly known as IIFL Holdings Limited and is backed up by an investor based out of Canada whose name is Mr Prem Watsa.

The Sub-Broker Code is generated instantly. However, the payout time is usually 30-40 days.

IIFL Sub Broker Model

In case someone is looking for a partnership with IIFL, one has to look into the various models provided by the company:

• IIFL Sub Broker or Franchise
• IIFL Marketing Associate
• IIFL Entrepreneur
• IIFL Remisier Direct Sales Agent

These broking models have their features, specialty, business requirements and growth potentials which are discussed below:

1. IIFL Sub Broker or Franchise:

As the name itself suggests, this program of IIFL Sub Broker is as good as a franchise of the parent company.

At a confined level, this model works hand in hand in terms of client procurement with the broking house.

To run the business further in IIFL Sub Broker Model, the sub-broker himself serves these clients with certain privileges given to them by the broking house.

Every sub-broker is assigned with certain targets based on the monthly, quarterly or yearly, basis on which the sub-broker is facilitated with an attractive commission percentage.

To be a part of the IIFL Sub Broker, there is NO INITIAL SECURITY DEPOSIT.

2. IIFL Marketing Associate:

This model of business is ideal for people who have a pretty good experience and has dealt with selling or providing services in the financial sector.

The best part of this program is that there is no necessity of any kind of initial investment by the sub-broker.

3. IIFL Entrepreneur:

If someone is looking to become an entrepreneur, no other model of business can be better than this program and should go ahead with this partnership in the IIFL Sub Broker system.

Even a fresher with ZERO years of experience can join IIFL under this category.

To go ahead with this model of business one does not need any kind of investment and can customize as per one’s need in terms of his experience, comfort level and expertise.

4. IIFL Remisier Direct Sales Agent:

The easiest model of business that a person can think of, is the IIFL Remisier Direct Sales Agent.

If someone is engaged in any other kind of business or doing a full-time job, still the person can join and continue doing this model of business.

The person in this program has to simply refer people to IIFL who are interested to join the broking house and do business with them.

The rest of the formalities like client acquisition, providing services to them and the trading process will be taken care of by IIFL.

It is also obvious that this business partnership model under IIFL Sub Broker program does not need any kind of initial security deposit by the sub-broker and can easily start earning commission percentage only by referring people.

Revenue Sharing & Security Deposit:

IIFL Sub Broker or Franchise revenue sharing: Though there is a commission range fixed between 50% and 75%, one of the reality lies in the fact that this commission can be decided in discussion with the broker.

This means that in the IIFL Sub Broker program if the broker feels that the sub-broker can pour in more business volume in the long term, it will approve for a higher commission percentage.

Apart from the above discussion, a few factors also work as a deciding factor of the commission structure.

It depends on:

1. Revenue generated from business
2. Business volume from clients
3. Negotiation skill to convince the client about more business commitment

IIFL Sub Broker or Franchise Investment:

A refundable security deposit is set which starts with a minimum value of ZERO and extends up to Rs.2 lakhs and is dependent services, features and investment options needed. However, the best part is that all investments are REFUNDABLE.

Infrastructure requirements in the IIFL Sub Broker Model:

• For working with IIFL there is no minimum criteria or requirement. You don’t need an office or staff to run an office.
• You can work hastle free at you own comfort and in your own space with no logistical barriers.
• IIFL has made everything possible at a single touch.
• A telephone as a communication medium with the clients
• The trading terminals are not mandatory but if one feels, can install them on their computer system.

Eligibility criteria in IIFL Sub Broker Program:

There are few prescribed criteria to become eligible as IIFL Sub Broker:

• The person should be at least X + II completed and attained the age of 18 years
• Additional weightage will be given if the candidate has any other certificate related to stock broking or financial market
• Good understanding and concept to deal with financial products and have practical experience of handling them
• The applicant should not have any background of criminal records

IIFL Sub Broker Registration Steps:

The registration process to apply for the IIFL Sub Broker ship is simple and similar to many other players in the market.

1. An online new customer information form with basic information with name, phone and address needs to be filled
2. IIFL’s executive will call back to confirm the applicant about his willingness
3. A meeting to physically meet the concerned department will be fixed
4. Details of plans will be explained and choosing of the plan will be finalized along with the commission structure and security deposit
5. Necessary documents need to be submitted
6. The applicant has to sign a final agreement on the points discussed in the meeting after the background check of the submitted documents
7. Lastly, the sub-broker code will be generated which the sub-broker can start using for his business

IIFL Sub Broker Documents Essential:

Documentation is a prime thing which needs to adhere strictly. To become a sub-broker under the IIFL Sub Broker program, the person should submit:

1. A scanned copy of Aadhar Card to prove to identify and for KYC
2. PAN and Aadhar Card for KYC
3. Aadhar Card will also work as address and DOB proof
4. Recently clicked passport size photos
5. Experience certificates to prove experience in relevant industry
6. Certificate of Academics
7. Any proof that describes the possession of office premise with the required space

IIFL Sub Broker Support:

There are various ways that IIFL supports its sub-brokers. They provide:

• Business engagement modules
• Both offline and online marketing support
• They allow their sub-brokers to use their brand name for advertisements and publicity
• Time to time training on products and services to keep the sub-brokers updated
• Intraday tips
• Back office support and reporting

Conclusion:

What all a person can think of apart from getting a strong partnership with such a big brand who provides strong support along with negotiable commission structure and negotiable security deposit?

All facilities and opportunities at a single place is a reason of choice for the investors, however, the final choice still lies in the hands of the person as per his need, capability and choice.

IIFL Sub Broker FAQs:

Q. What are the various schemes IIFL deals with?

The business models dealt by IIFL are:

• IIFL Sub Broker or Franchise
• IIFL Marketing Associate
• IIFL Entrepreneur
• IIFL Remisier Direct Sales Agent

Q. What is the minimum initial investment does IIFL want in the IIFL Sub Broker program?

No minimum investment is required.

Q. Is there any experience needed in the IIFL Sub Broker program?

There is no compulsion of minimum experience needed. However, people with relevant experience have more benefits.

Q. How much revenue does IIFL share with their sub-brokers?

The revenue sharing percentage starts from 50% and goes up to 75%

Q. Does a sub-broker need to set up an office?

No, it is not mandatory for a sub-broker to set up an office.