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India Infoline is one of the most diverse financial services companies in India. It is operating through many of its subsidiaries. Along with this, IIFL Partner or franchise model has been a success story for the broker since the time of its inception.
Today, the broker boasts a wide range of geographical coverage across the country with its head office in Mumbai. With its IIFL branches in India in various cities such as Jaipur.
This becomes even more interesting when it is known that the whole model runs on a wide range of business models.
In this detailed review, let’s try to understand the specific details of the IIFL partner business and whether it makes sense for you to go ahead with this proposition or not.
We will also talk about the IIFL registration process at different partnership levels.
IIFL Sub Broker Review
IIFL or India Infoline is one of the leading full-service stockbrokers in India and it offers different values such as trading platforms, customer/partner support, investment products, etc to different stakeholders.
It was incorporated around a decade back and is certainly one of the trustable brands when it comes to stockbroking space.
IIFL boasts of having a presence in more than 900 cities with its 4000+ sub-broker, franchise, and partner offices across different parts of India.
Furthermore, the broker has an employee strength of in-excess of 8000 (including relationship managers) and an active client base of 2,35,241 as per the latest NSE records.
At the same time, the broker has a strength of more than 10,000 partners in 500+ locations. All these numbers definitely paint a positive picture for the broker.
In case you are looking to set-up a sub broker or franchise partnership with India Infoline, you will be provided with the following benefits:
- High brand awareness and thus, relatively easy client acquisition – especially in Northern India.
- Investment offerings such as Equity, IPO, Mutual Funds, Commodity, Currency, Bonds for your potential clients.
- Regular research at both fundamental and technical scales.
- Training from the broker personnel constantly to equip you with the latest happenings and business movements along with strong back-office support.
- Access to different trading platforms such as IIFL Markets, IIFL Trader terminal, etc.
In this detailed IIFL Partner and franchise review, let’s check out the different partnership models the full-service broker has to offer.
We will also have a look at their respective eligibility criteria, costing for you, revenue sharing set-up along with the positives and negatives of choosing IIFL as your brand for sub-broker business.
Apart from this, to carry out business, it is essential to undergo IIFL sub broker registration process to get registered with the regulatory body i.e. SEBI.
IIFL Business Models
IIFL offers a seamless and the first tab based advisory platform i.e., IIFL AAA Tab, IIFL AAA that offers a one-stop solution to its entrepreneurs who are willing to be its partner by investing good capital.
There are many ways in which you can become an IIFL partner. To become an IIFL partner one needs to consider many factors that can help them decide which kind of IIFL partner would be best for you.
Some of the factors to be considered for becoming IIFL Partner are:
- Amount of capital investment
- Kind of return on capital employed expected by the IIFL partner, individual temperament, etc.
One should also carefully analyze different kinds of benefits associated with each partnership program. Before deciding to become an IIFL partner, you should also run an eligibility test for that particular choice.
Let us discuss the ways in detail along with the requirements and benefits of each type of IIFL partner program.
India Infoline offers the following business partnership models in case you are looking to work with them:
- IIFL Sub broker
- IIFL Franchise
- IIFL Marketing Associate
- Remisier Direct Sales Agent
Now, on a general level, both these models have their own requirements, business understandings, growth potentials, responsibility buckets, and so on.
However, in the case of IIFL, there are no stark differences and in reality, IIFL treats them more or less at a similar level itself. In fact, within the eco-system of this full-service broker, both these terms are used interchangeably.
In this review here, we will use both these terms (casually!) and you may consider both these terms as a single IIFL partnership model. Let’s dig a bit deeper now.
IIFL Business Partner (Franchisee)
IIFL sub-broker basically works with the full-service stockbroker in terms of client acquisition at the local level.
Once acquired, these clients are served by the sub-broker itself. Each sub-broker is provided with a specific monthly/quarterly/yearly target and the corresponding remuneration percentage is promised.
To become an IIFL partner through franchisee, one should be able to set up his / her own office space and be able to afford some staff.
This will involve catering to several clients. One should have sufficient funds to invest it in like a start-up business.
While acquiring and serving the local client base, the IIFL Sub Broker is provided with the following privileges:
- Allowed the usage of IIFL brand name in its marketing activities, in fact, it basically works as the face of the company in its region.
- Constant access to intraday trading tips and fundamental research reports with decent accuracy.
- Regular interactions and discussions with the aligned business development manager who helps in the initial set-up as well as for the fixation of any potential BAU (Business as usual) concern.
- Client training, back-office solutions, reporting, etc.
Once you become the sub-broker with IIFL you would be able to access the IIFL AAA.
IIFL Marketing Associate
There are other modes available apart from the IIFL Sub Broker model. Let’s discuss one by one starting with the IIFL Marketing associate.
If you are someone who has a good enough experience in the financial selling/services space and is currently working with an active client base – then you can certainly apply for an IIFL Marketing Associate model.
There are no expenses that you need to incur and the IIFL provides assistance in the following areas:
- Quick onboarding and business engagement
- Marketing support through different channels at both offline as well as online levels.
- Consistent business revenue from the first day of joining.
- Huge brand equity of IIFL to propose to your existing and new client base.
- Wide range of trading and investment products to offer, thereby, increasing your client base as well as overall revenue per client as well.
- Training programs regularly for you and your team in whatever aspect deemed necessary.
There are many benefits to being an IIFL marketing associate. Some of them are mentioned below –
- The biggest advantage is that there is no need for investment in the business and thus, no financial risk.
- Then, there is a consistent source of income with it.
- Support is available for different things like operations, research, client acquisition, and business development too.
- IIFL also conducts awareness programs for investors and training for supporting staff.
In case you are looking to go ahead with your own set-up, then choosing the IIFL entrepreneur business model may certainly go with your aspirations.
You need to have at least 3 to 5 years of experience in the financial space in India and someone working actively in the capital market space makes the best match.
As an IIFL Entrepreneur, you get the following benefits:
- No investment needed to go ahead with this proposition.
- You can personalize the business model as per your area of expertise, experience, comfort level, team strength, etc.
- Earnings depend on your business growth and have no cap on the overall revenue you make from the partnership.
- A wide range of investment and financial products can be offered to your clients.
This is one of the easiest business models you can think of.
You could be running your own business or even working in a 9 to 5 regular job. There is no need to stop what you are currently doing. However, you can be part of this business by referring clients regularly to the broker.
There is obviously no cost associated with this model that you need to incur, nor you need to set up any office.
You will make a specific commission cut from the brokerage generated out of your referred clients every month.
This brokerage cut will keep coming to you as long as the referred client is running an active trading account with IIFL.
Thus, in a sense, you will earn commissions just based on a referral, the rest of the job will be done by the broker including customer acquisition, servicing, trading, etc.
There are many benefits of being an IIFL direct sales agent. Some of them are mentioned below –
1) If any of the individuals referred by a direct sales agent becomes a client of IIFL, the remissive gets paid for it.
2) There is obviously no investment needed to be a direct sales agent.
3) IIFL assists the clients with advisory too.
How to Become IIFL Partner?
If you are interested in becoming an IIFL partner, then, you can visit their website and go on the Become a Partner page. It will ask you to fill in some basic details about yourself like name, contact number, email id, state to which you belong, city’s name, etc.
Also, you would need to specify the kind of way you would like to be their partner.
A dropdown of four choices will appear in the “Interested To Partner As” field. The four options are franchisee, Remisier, Entrepreneur, and Marketing Associate.
Also, read about How to Become IIFL FAN Partner?
Then you hit the submit button. After this, you would have to go through the process according to your preference. This is how you can become an IIFL partner.
IIFL Sub broker Registration
The process to set-up yourself as an IIFL Sub broker is pretty straight-forward. Here are the specific steps:
- Fill in the sub-broker callback form:
- A callback is arranged for you and an executive from the central corporate team will be giving you a callback to understand your business objectives, business capital, background, experience, and other related details.
- Then a local representative will be contacting you to collect requirement documentation, oversee all the considerations mentioned in the eligibility criteria section. This will also include a face to face interaction with you (and maybe your team at a later stage).
- Once confirmed, your documentation and related details will be verified and processed at the corporate center of India Infoline.
- A partner token will be generated, access to back-office and other software will be provided to you along with setting up your official email accounts.
- The account is activated and you are all set to go with your IIFL Sub Broker business.
When it comes to documentation, this is what you will need for the initial formalities:
- PAN Card
- ID Proof (anyone)
- Aadhar card
- Driving license
- Ration Card
- Address Proof
- Passport-sized photographs
- Educational certificates (degree, diploma, etc)
- Bank Cancelled Cheque
- SEBI Registration
- Commercial property rent/ownership document
There could be a few other generic documentation required by the full-service broker which will be disclosed to you during your face to face discussion with the business executive of IIFL.
IIFL Sub Broker Criteria
In case you are looking to pick up IIFL Sub Broker partnership, you will need to meet the following requirements put forth by the broker:
- Basic understanding of share market operations, business terms, investment products, real-time trading with IIFL.
- Knowledge of how to use different trading platforms across the web, mobile, and desktop.
- An initial investment of ₹50k to ₹2 Lakh depending on your business expectations that work as a refundable deposit.
- A commercial owned/rental space of around 300 square feet where business operations can be undertaken.
- Team for client handling, acquisition, servicing. Better the qualifications/experience of your team, the higher the chances of business growth.
There could be few more requirements put up by the representative of India Infoline, however, those and the ones mentioned above are open to negotiation to an extent.
Make sure you put in your best negotiation skills on anything that gets discussed on the table.
Once discussed, most of the details will be documented and are going to stay as is, until further updation.
IIFL Sub Broker Commission
Revenue sharing in case of India Infoline can vary in the range of 50% to 80% depending on multiple factors including, but not limited to:
- Business Size in terms of revenue
- Business Size in terms of number of active clients
- The scale of sub-broker visibility at the local level
- Your negotiation skills
When it comes to revenue sharing, there is no general rule as such.
Yes, there are specific revenue sharing slabs but a lot of times, these are always open to discussion.
In case, the broker feels that you can bring in much higher business value on a long-term basis, all kinds of approvals are taken to give you the best possible deal. This is also done so that you do not move to any other stockbroker brand.
Thus, discuss as much as possible before you go ahead with the documentation of your India Infoline Sub-broker or franchise business.
Also, with IIFL Fan, you can earn 60%-75% of commission with per client and reap the IIFL FAN Benefits.
India Infoline Partner Login
When all the formalities of the process of becoming an IIFL Partner are complete, you would be given a unique user id and a password with which you can access your online account.
Once you become an IIFL partner, it is simple to log in to your account. You just have to go to the partner’s page on their website and click on login. It would give you some options and you have to choose the “Existing Partner” option.
You fill in the login credentials there and hit the login button. This will give you access to your IIFL Partner account.
IIFL Partnership Issues
Although becoming a IIFL partner can reap you great benefits with time but at the same time, there could be few concerns as well.
Some of the major concerns are:
- Only the sub-broker business partnership model is available. Thus, anyone looking to work at any other level with this broker may be disappointed.
- Brokerage asked is relatively on a higher side and thus, some potential clients might get turned off by this aspect. This directly impacts the overall business scale.
In case you are looking to open a sub-broker or master franchise business, then let us arrange a callback for you.
IIFL Partnership Benefits
Here are some of the major benefits you get if you work as an IIFL Partner:
- Part of a widely prominent stockbroking brand that helps in client acquisition and building trust
- A minimum monthly payout of at least ₹50k to ₹1.5 Lakh once you reach a stable business scale.
- Easier onboarding process with account activation within 3-4 business days
- Open negotiations on multiple fronts including revenue sharing, initial deposit, number of training, etc.
- Regular marketing support as and when any major promotion is run by the full-service broker (like the most recent one where IIFL is one of the major sponsors of Mumbai T20 Cricket League).
- Multiple investment products and classes offered to be served, thus increasing the overall coverage of the potential client base.
- It offers one of the best IIFL trading apps (IIFL Markets) and terminal applications for your clients.
- Strong risk management and operational support for your staff are provided by the broker.
- A business development manager is aligned with you to make sure you are onboard smoothly and have someone to work with from IIFL in case of any queries or concerns.
IIFL is one of the largest conglomerates in India in the financial services industry. They have been providing their services to clients in different ways. They not only operate through their branches and subsidiaries but also through making partners.
You can become an IIFL partner by taking a franchisee or becoming their direct sales agent, a marketing associate, or an entrepreneur.
Before opting for any of the options, you must ensure to understand the eligibility conditions for each one of them and the kinds of benefits they all have for an individual.
You can start accessing the IIFL partner portal once you become their partner and have the login details.
Just fill in the details below and you will get a call from B2B onboarding team:
IIFL Sub broker Branches
Here is a quick look at the presence of IIFL through its sub-brokers and other partners:
You can read this review in Hindi here.