Elite Wealth Business Associate

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Elite Wealth Business Associate

6.4

Offline Presence

5.5/10

Market Reputation

6.0/10

Brand Equity

6.5/10

Revenue Sharing

7.5/10

Initial Costing

6.5/10

Pros

  • Wide range of products and services
  • Multi-business models
  • Attractive revenue sharing ratio

Cons

  • A new entrant in the broking space
  • Requires High Initial Costing

Elite wealth is not that old stockbroking house and is in the market for quite a short period of time. The company, with a limited client base, is smaller than most of the stockbrokers available in the market, but still has a reasonable reputation in the industry.

Elite Wealth Business Associate Basics

The broker is a wealth advisory firm that offers a wide range of services to the clients. The company offers personalized as well as customized services to both the individual as well as the institutional clients to full-fill their trading and investing requirements. The strength of the broker lies in the customer-centric approach to make your money the best usage for you.

As mentioned above, it has not been too long for Elite Wealth in the sub-broking business in the market. But, it has already captured the mind of clients by offering an attractive partnership business opportunity. The broker believes that the partnership business is one of the best ways to expand the business.

The partnership business is a win-win situation for the company and the partner.

Elite Wealth is a member of the NSE, BSE, MCX, SEBI, MSEI to CDSL, IREDA, NSDL and FMC. These memberships prove the effort of the broker in the market till date. Through these memberships, one can offer services like wealth management, Investment advisory, portfolio management services, corporate financing etc.

In this article, we will try to cover almost all important aspects of Elite Wealth business associate like the revenue sharing model, types of business models, security deposit, offers, support to the business associate, registration process etc.

Elite Wealth Business Associate Advantages

These are the advantages of starting a partnership business with Elite Wealth.

  • Client service is easy for the broker as it has online access to this. It helps the broker in serving their clients and business partners according to their needs and on a timely basis.
  • The whole operations in this organization are paperless, so a client does not require to give too much time in filling the forms or collecting different types of forms to submit. In fact, the process is totally hassle-free and makes the business process faster.
  • The broker allows flexibility in the brokerage plan. It helps you in the client acquisition as you can fix the brokerage of your clients as you want.
  • Elite Wealth offers you a good and experienced research team. They provide research reports of different products on an equal interval of time monthly, quarterly, yearly, daily etc. It helps your clients to take the right decision of trading and investing.
  • It offers a wide range of investment products and services. It will help you to retain your clients for a long period as they need not move to another broker in search of any trading product.
  • The broker gives you multiple options to associate with them. They offer three types of business models through which you can start your business according to your requirement and security deposit availability.
  • The revenue sharing ratio is attractive. So, you need not worry about your revenue ratio. It can be increased also, depending on some factors decided by the broker.
  • The security deposit demanded by the broker is affordable.

Elite Wealth Business Associate Eligibility

In order to be part of the Elite Wealth Business Associate group, you need to take care of a few eligibility criteria. Here are those listed:

  • The age of an applicant should not be less than 21 years.
  • Must have a minimum of 300 square feet office space in a well-connected area of the city.
  • Should have the 12th passing certificate.
  • Have not been involved in any type of fraud or dishonesty.
  • Can deposit at least ₹1,00,000 security deposit for the business associate model and ₹5,00,000 for the financial centre model and should have the capability to invest at least ₹3-5 lac of working capital the business starts generating revenue.
  • Must have required infrastructure like two computers, scanner & Printer, Broadband internet connection etc.
  • Have to do registration as a business associate/AP with the SEBI by paying the appropriate fee as applicable.

Elite Wealth Business Associate Types

Elite Wealth offers you three types of business model through which you can associate with them.

  • Business Associate/Authorized person
  • Introducer
  • Financial centre

Elite Wealth Business Associate/Authorized person:

Under the business associate model, one needs to acquire clients to run their business. They are required to set-up an office with necessary infrastructure from where they can work.

This model is just like a branch of the broker, where the business associate gets a lot of support in every required step taken by them. They get marketing support, technical support, research tools, trading tools etc. from the broker.

A business associate generally keeps the higher percentage of revenue generated by them and for this, they are required to deposit some security money with the broker.

Here are some of the benefits a business associate gets:

  • Right to access all tools and technology with research reports of the broker.
  • Right to fix brokerage of your clients.
  • An opportunity to become an entrepreneur.

Elite Wealth Introducer:

Under the Introducer model, you are not supposed to do too much work. Your job is limited to the introduction of the customer to the company. After that, the company will do the rest of the work. Basically, it is a lead generation operation for which you will get a portion of the revenue which Elite Wealth will generate from the clients acquired through your leads.

This model suits to those who have an existing client base in any industry and want to earn some extra money. This model need not require you to set-up a separate office to work. You can work from anywhere as per your convenience.

Benefit:

  • Low-security deposit required.
  • Limited work-load.
  • An opportunity to earn in extra time.

Elite Wealth Financial Center:

This model is a step ahead of the Elite Wealth Business Associate/Authorized model that is more than trading and investing. If you want to enter into the business of the client service and advisory services then this model fits you.

You are required to make infrastructure investment and good client acquisition. This model is the same as the business associate model, only the difference is in the services offered. The revenue sharing is almost the same as the business associate.

Benefits:

  • Right to use all trading tools and technology.
  • An attractive revenue sharing ratio.
  • An opportunity to start a business of your own.

Elite Wealth Business Associate Revenue Sharing

In the stockbroking space, you will get access to different monetary streams. One of the most prominent ones is Revenue sharing. In this model, the main stockbroker will share a specific percentage of the overall brokerage generated with its partners depending on the business model, the number of clients brought and the overall revenue generated through these clients.

Business Associate/Authorized person:

The revenue sharing ratio of a business associate is in the range of 50%- 80%.

The remaining share will go to the broker. However, this sharing ratio is not fixed. It depends on various factors which are pre-decided by the broker like prospected revenue, security deposit, your experience and obviously your bargaining power.

Introducer:

As the role of an Introducer is limited to the introduction of the client to the broker only.

The revenue sharing ratio is also accordingly. As an Introducer, you will get revenue in the range of 20%-30%. And the rest of the share will go to the broker. This range is in line with the rest of the competitors of the industry.

Financial Centre:

A financial centre model is the same as the business associate model, the service offered in this model is slightly more than the business associate model. Hence the revenue sharing ratio is also the same, but the upper limit of the ratio may go higher than the business associate model.

Instead of 80% of the upper revenue sharing ratio, it can go to 90% of the revenue also. And the broker will keep the remaining ratio.

Elite Wealth business associate Initial Deposit

Depending on the business model you pick, you will be required to provide a refundable initial deposit with the main stockbroker as part of the formalities. The amount varies from one stockbroker to another and is open to negotiation.

Here are those mentioned in the case of Elite Wealth:

Business Associate/Authorized person:

A business associate requires a minimum of ₹1,00,000 security deposit to start the business. With the security deposit, they should have the capacity to invest ₹2,00,000 – ₹3,00,000 working capital until the business starts generating revenue.

Introducer:

An Introducer needs to deposit a minimal amount as a security deposit to start the partnership business. The range of security deposit is ₹15,000 – ₹30,000.

Since they need not make any expense into infrastructure or office set-up, they are not supposed to arrange any working capital to run their business.

Financial centre:

The job responsibility of the financial centre is a bit more than the business associate as they provide more service to the client than them. So, the security deposit required by the Financial Center is ₹5,00,000.

Also, they require ₹3,00,000 – ₹3,50,000 working capital to run their business until their business does not generate revenue.

Elite Wealth Business Associate Support

  • Marketing support: You will get marketing support like the advertisements of your business through various sources.
  • Technical support: The broker will provide you technical support for trading platform or wherever required.
  • Back office support: You will get proper back office support through which you can retrieve monthly, quarterly and yearly reports as per your requirement.
  • Training support: Your clients and you will get proper training on how to generate more revenue and profitable trade.
  • Research support: The research team of the company will provide you daily and weekly research reports which will help you in getting the right trading and investing decision.
  • Appoints dedicated relationship managers: The relationship managers help the business partners in connecting the clients to the company and also they make them understand necessary things related to the partnership business.

Elite Wealth Business Associate Registration

Following are the steps to become an Elite Wealth Business Associate:

  • Fill the lead form available on the website with your basic details:
Sub Broker Business
  • The call centre executive will call you to verify your interest in business with the Elite wealth.
  • You will get another call to fix an appointment with the sales team of the broker to discuss in detail.
  • In the meeting, you can clarify your confusions and can ask everything you want to know like the types of business models, the basis of the revenue sharing ratio, security deposit or initial investment required, eligibility, support etc.
  • After that, you are required to submit the documents for the verification purpose with the security deposit cheque.
  • After verification, you will get an account ID to start the business.

The above process will take almost 3-5 business days to complete.

Elite Wealth Business Associate Summary

Elite Wealth business associate is a new entrant in the broking market. It is not too popular among the market players but provides a quite good service and supports to the clients and business partners. The broker is well-know for the help they give to the business associates to establish their new business and earn more and more revenue.

The broker offers multiple business models to those who want to associate with them. The security deposit is a bit high but affordable to those who dream to start a big business. Various types of business support provided by the broker to well-establish in the market.

So, if you are thinking to associate with a helpful and supportive broking house to become a successful businessman, you can go with Elite wealth.

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