Advise needed

Hi All,

I am a Chartered Accountant working for one of the Big 4 MNC Audit firms. I am a technical analyst as well. Bored of the job and passion for stock markets, me and my friends are wishing to set up a trading office where people will be given advisory services as well as brokerage services.

Please advise me on the type of model (remisier, subbrokerage or agent) that I should go for and the kind of things that I need to set up.

Can anybody help please?

Why don't you write to Nitin at Zerodha and try to work on something with them.

insider,
.....try to hide yourself from SEBI.....

Thanks. Will contact him.

I had a discussion with Zerodha but that would not work out for me. Finally I have managed to get a terminal from one of the brokers as a representative. He has the license and I would serve my clients on his terminal. So from one screen I can serve multiple people. I have an office in prime location so I do not need extra investment.

Now there are few things I want to know:
1. Can I serve my clients through high speed broadband connection? One of my friends say in market you should have a leased line connection. But I feel unless somebody is not scalping or arbitrage its not necessary. Also I find its cost too high for a start up.

2. I have a good track record as an analyst and I already have about 25 clients (retail ones - only 1 HNI). They are ready to start an account with me. Do you think that is a good model to start.

3. Any other thing to enlighten me.

I know I might waste some people's time but please let me know. Its a life changing decision for me so any insight would be very helpful.

Thanks in Advance

1. It is enough to start with broadband connection as you are a subbroker/remiser now

2. you can start with these 25 retail clients. but, dont promise any guaranteed returns. all the decision relating to trading should be taken by your clients.

3. Dont try to give any portfolio services to your clients as it is dangerous for your in the initial stage of the companies.

4. if it is possible, please make the arrangement to watch the screen for your clients. you arrange seperate terminal for watching the market.

5. Watching the market screen, and placing the orders in the terminal should be seperated to do uninterrupted service to your clients.

6. Always like slow and steady growth in this field. this will take you lifelong in this business.

7. Think well moretimes, before implementing any new setup.

if anything else, ask here, we can discuss

I hope your decision may be wrong after 1 year, because your reason for leaving the field quoted "Boring'....not a justification or valid Reason...

You may be with PWH (my assumption) as CA.....now you have brand with you...Creating and developing your own brand it takes time and stress...so, you be prepared for that......minimum 2 years is required to establish yourself...

So, think properly.......before taking any wrong decision.....

Take this as in a right spirit..

All the best...

hello rish,

Well Said,

He is avoiding to hide his brand which is stable for his whole life

BORED with job???
Job is not suppose to entertain you dude, you are not going to office to watch some movie.
But having said that you have followed your passion and you know best about yourself so take a wise decision keep risk rewards in mind.

Dont risk you daily bread for stock market entertainment, I am still ruing that day I got interested in the market, it has done more damage then help to me.....

Best of luck....