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There are a number of terms and designations involved in the process of trading and investing in the share market. Sometimes, these can get confusing for new investors. A lot of people are involved in the process such as brokers, consultants, etc. Today, let’s have a look at one of these important people — a financial remisier and how even you can become one to earn some money.
A financial remisier is basically an agent of a broking firm, but is different from a sub broker. Remisiers are often confused with sub brokers. A remisier’s job is to get stockbroking company clients who will invest regularly through them. Remisiers work individually to attract new business for a broker. Brokers value remisiers for not only bringing in new clients, but also for acting as credit controllers who set trading limits for their clients in advisory roles.
A remisier earns a share of the brokerage from each client who invests through the broker. Remisiers must be registered with a stock exchange. Remisiers are different from sub-brokers, and their job is smaller and simpler in scope.
A sub broker performs all the tasks that a remisier does, and some more additional tasks as well. A sub broker is like a franchise of the stockbroking company. They could have their own separate office and operations while using the broker’s brand name. Plus, a sub broker issues contract notes and confirmation notes on behalf of their clients. They can take up the entire responsibility of the trade for clients, which remisiers cannot.
A financial consultant or investment consultant, also known as financial planning consultant, looks at your entire portfolio and advises clients on how to allocate your assets and investments. Financial planning consultants can also advise clients on specific areas such as tax saving and insurance.
As opposed to these, the job of a remisier is narrower in scope. The essential job of a remisier is to introduce their clients/contacts to the stockbroker. It is a great option for anyone to earn some money on the side. Nowadays, remisiers have started widening the scope of their services and conducting the duties of financial planning consultants as well.
Also Read, Difference Between A Sub-Broker And A Remisier
Yes. On paper, anyone with a little time to spare and no capital investment can become a remisier for a stockbroker and earn some significant side income. Of course, you will also need to have a network of contacts who you can approach. Plus, you will need a good knowledge base in investing if you’re planning to become a financial consultant as well.
There are plenty of advantages to becoming a financial remisier. Here are the major ones:
There are scores of benefits to pursuing an additional career as a remisier. If you become an IIFL remisier, the advantages will be many and your investments will be minimal. So, don’t waste time in starting your journey as a remisier. Put your network of friends, acquaintances, and contacts to good use and drive them towards investing. All of this, while earning a significant side income.
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An Authorized Person manages clients for authorised persons directly connected to them. Conversely, a Remisier is a sub-broker, directing customers to the stockbroker in exchange for a commission on deals.
Remisiers earn a commission for every trade their recommended clients make through the authorised person. Their earnings are performance-based since they rely on the number and regularity of transactions these clients make.
Indeed, an agent who serves as a go-between for clients and stockbrokers is known as a Remisier. They receive a commission on customer transactions while facilitating trading and introducing clients to the broker’s platform.
The remisier’s duties include directing customers to an authorised person, helping them with trading platforms, and ensuring all communications run well. In exchange for commissions, they assist stockbrokers in growing their clientele.
Remisiers serve as middlemen who send clients to authorised persons in exchange for commissions. In contrast, authorised persons are organisations or people who deal directly with client accounts, trading, and compliance. Although they report to brokers, Remisiers do not manage deals independently.
Become a Partner & Earn up
to 1 Lakh* per Month!