Remisier is a stockbroking business agent who is responsible for managing transactions for the broker. He is compensated for these transactions. There is also an explanation of the functions or services that a Remisier offers to a stock broker.
It also describes how one can become a Remisier. That is typically easy up until post-verification of the application.
Who is a Remisier?
A Remisier (commissioned representative) is an agent of the stock brokerage company. In contrast to the paid dealer’s representative, who works as a direct employee of a stock brokerage firm and is paid a fixed monthly salary, they handle the dealer’s transaction and are compensated with a commission for each one they complete.
What are the Functions of a Remisier?
Stockbroking firms claim that Remisier allows them to grow the volume of trade and profits without having to raise their fixed cost structure or proactively acquire new clients. Remisiers are required to shoulder the extra burden or compensate the stock brokerage firm for their operational costs, depending on their point of view.
They earn a significant commission through the 40 per cent trading commission share. Instead, Remisier continues to be in charge of its customer interactions.
A Remisier is liable for any losses incurred by a stock brokerage firm as a result of any stock transaction carried out through the company.
Remisier Vs Broker
A broker is a person who holds a beneficial ownership interest in a stock brokerage firm connected to the Securities Exchange Board of India (SEBI).
A Remisier is a self-employed individual associated with the broking company. The commission on trades they handle determines a Remisier’s revenue.
How do You Become a Remisier?
Broadly speaking, becoming a Remisier in India is a simple process. The verification system before the registration is the only thing that is particularly difficult.
Can the stockbroker withdraw your application if they discover any misappropriation? SEBI provides direction for the overall process (Securities Exchange Board of India). For your job, you must possess the necessary credentials and characteristics.
Documentation Needed to Become a Remisier
The following list includes the documentation needed to register for a Remisier:
- Aadhar card for Identity Proof
- Permanent Account Number (PAN)
- Educational credential
- Bank verification
- Income verification with a cancelled check
- Address verification
These are the fundamental documents required to register as a Remisier. However, Remisier must be registered with either the NSE or the BSE stock exchanges.
Qualifications to Become a Remisier
The following is a list of the educational and other criteria to become a Remisier:
- That individual must have strong communication abilities and potential.
- The 10+2 is the required minimum level of education.
- Some brokers may require one or two years of expertise in any area of finance.
- In addition to these levels, the financial situation should also be considered while being a Remisier.
Advantages of Being a Remisier
1. Additional earnings
The creation of a steady revenue source is the main advantage. The money can be invested in or used to support lifestyle luxuries and upgrades.
2. Zero money is invested
You can immediately start your Remisier business, in contrast to many other chances for incremental income that call for a time or monetary investment.
3. Less effort
Being a Remisier will need almost no work, particularly if you are excellent at the art of persuasion, have the natural charisma, and are an influencer in your circle.
You are already qualified to become a Remisier if your loved ones regularly ask you for financial guidance.
4. Working remotely
Working remotely at any time is becoming more and more popular. A Remisier business can be operated anywhere, including from the comfort of your own home.
5. Growth potential
The amount of money you can make as a Remisier has no upper limit. Most brokers will permit you to recommend as many customers as you choose.
Moreover, by becoming a financial counsellor, you can broaden the area of what you provide.
To increase your income, you could work as a Remisier for a well-known company. But for individuals to take your advice seriously, you will need the ability to persuade and influence them.
If you don’t know many individuals personally, start by reaching out to a family member or business link who is well networked.