How to Become an Agent for Mutual Funds
How can one become a mutual fund agent, and what are the advantages of doing so? And how can you generate a profit as a mutual fund agent?
In today’s post, we will attempt to gain a thorough understanding of these topics so that you, too, can become a mutual fund agent and reap its benefits.
First, let us know that
How to Become an Agent for Mutual Funds
Mutual fund investing is rapidly gaining popularity in India, so if you’re interested in becoming a mutual fund agent and assisting people in selecting the best mutual fund through dedication and effort, this is the job for you. This can be an excellent profession –
The question now is how to become a mutual fund agent.
Therefore, to become a mutual fund agent in India, you must complete three steps:
The first step is – you must pass the NISM V-A Certification Examination.
To become a mutual fund agent, you must pass the NISM certification exam, administered by the National Institute of V-A. To register for this exam, visit the NSIM website.
The registration requirements are as follows:
It is possible to register for NSIM EXAM with only a 10th-grade education.
In addition, it is required to have a PAN card and an Aadhaar card as the primary documents; additional general personal information is also required.
The registration fee for the exam is approximately Rs 1,500, and you can view complete, up-to-date information on the NSIM website via this link – NSIM website link.
Once you register, you will receive an email containing all the necessary exam information.
After this, as soon as you take the exam, you receive the result very quickly, as well as the result and certificate via email.
After receiving NISM V-A certification results, the second step to become a mutual fund agent.
Read Also: How Do You Invest In A Direct Mutual Fund?
The second step is – GET ARN NUMBER
AMFI Registration Number is the full form of ARN number, where AMFI stands for Association of Mutual Funds in India.
You can also refer to the ARN number as the agent code of a mutual fund agent.
In addition to the ARN, you also receive an EUIN, or Employees Unique Identification Number.
And obtaining URN and EUIN signifies that you are now a MUTUAL FUND AGENT.
And to sell mutual funds as an agent and earn commissions, you must take one more step to become a mutual fund agent – you must pass the Series 7 exam.
The third step is – CONTRACT with Mutual Fund House (AMC)
As you are aware, there are numerous mutual fund houses and their various mutual fund schemes are available on the market. If you wish to sell a particular mutual fund scheme, you must contact the fund house of that mutual fund. have to do
You must enter into a contract or agreement with the mutual fund house, and in accordance with that contract or agreement, you will receive commission and other benefits on the mutual fund scheme sold to you by that fund house.
In this manner, you become a mutual fund agent, and it is now up to you to perform well in this role.
Because becoming an agent alone does not determine your success, your actual success will be determined by performing better as an agent after becoming one.
Now let’s discuss the advantages of becoming a mutual fund agent.
Advantages of working as a mutual fund agent
- You have the option of an additional income,
- You can earn passive income in the form of commission,
- You can also do full time or part time alone as a mutual fund agent.
- The better and more you work, the more you can expect to earn
- You can start a business of selling mutual funds to people as per their need and earn commission from it.
- You can work from home by creating an online website/blog as a mutual fund agent.
Friends, have you learned how to become a Mutual Fund agent from today’s post? And what are its benefits, if you have any questions about this post, please leave a comment below.
Thank you for reading the post.