Wealth Management Company

Hi all,

I am reading all the threads in traderji since I have been trading the markets but never posted a thread, this is my first thread.

I have :sos::sos:2 years experience in trading the stock markets and I am now interested in opening a franchise.

I have gone through the requirements that a sub broker needs (NCFM in both capital and derivative markets). But I am having some doubts.

Being a sub broker can we trade in the Stock Markets with our own money?

Can we have positions either in Futures or stocks?

Being a sub broker can we have our own Wealth Management Company as part of other business?

Is there is any ACT/ LAW (as per SEBI) that a Sub broker cannot have his own Wealth Management Company?

If anyone has information regarding this please reply for this thread.

Hi

Yes being a subbroker you can open an account for trading in your firm/indl name and can trade and invest.Wealth management service can also be provided if your member(broker) has the same. Your member should have liscence for insurance distribution,PMS desk,primary mkt service,other investment products like corporate bonds etc. and have a desk to advise on investment-tax related matters.Normally all good brokers have the same.

Hi Ank/All,
Thanks for replying.

Actually I have some large amount of cash with me and I want to trade in the markets having a portfolio.

The main problem is I cannot sell or buy different stocks or futures at the same time and cannot look at all the stocks if my portfolio has say some 15 scrip’s or more and I cannot put orders at a time if market suddenly crashes or breaks out as I am the only one who have access to my trading account and I have to put orders one by one .It’s time consuming and our desired price will not be there.

If I am sub broker I will have the Terminal with me and can appoint 2 to 3 persons and these people have access to the trading accounts and can look after my portfolio of stocks and also they can put orders on behalf of me at the same time so that I can eliminate the problem. And one more advantage is being a Sub broker I can also get brokerage commission from other persons who trade in my firm.

My main question is I want to have my own Office/Firm and I want to have the Terminal with me so that more than one person can access my account and also I can eliminate the problem and I want to trade with my own money. Is this possible?

Dear all please if anybody has information or who is already trading in this fashion please help me.

Hi Ank/All,
Thanks for replying.

Actually I have some large amount of cash with me and I want to trade in the markets having a portfolio.

The main problem is I cannot sell or buy different stocks or futures at the same time and cannot look at all the stocks if my portfolio has say some 15 scrips or more and I cannot put orders at a time if market suddenly crashes or breaks out as I am the only one who have access to my trading account and I have to put orders one by one .Its time consuming and our desired price will not be there.

If I am sub broker I will have the Terminal with me and can appoint 2 to 3 persons and these people have access to the trading accounts and can look after my portfolio of stocks and also they can put orders on behalf of me at the same time so that I can eliminate the problem. And one more advantage is being a Sub broker I can also get brokerage commission from other persons who trade in my firm.

My main question is I want to have my own Office/Firm and I want to have the Terminal with me so that more than one person can access my account and also I can eliminate the problem and I want to trade with my own money. Is this possible?

Dear all please if anybody has information or who is already trading in this fashion please help me.

Hi,

As far your problem is concerned you can ask your broker for multiple IDs for online trading for the same trading account.Some brokers charge you for the same,chgs are usualy like 1000.00 a month for an additional ID.Having subbrokership/franchise is an altogether different issue you should have a client base for the same.As i already mentioned in my last post you even trade in your own account along with being a sub broker.Should you require support for trading or franchise you can pm me.

Regards

Thanks Ank,

This is what I want. My plan is to open an office with some name and with multiple Ids’ of my own trading account.

If I open an office are there any tax related issues and I want to register the office name.How many this costs?

Please help.