First step be a SEBI registered portfolio manager? Be a remisier?

#1
I spoke to the regional manager of my broker, Sharekhan, to learn how Sharekhan could help me become a SEBI registered portfolio manager in Kochi.

One of the points I made was that I needed a broker to open client accounts for me to manager and my first choice is Sharekhan because I've not had a major issue in the last 5 years of having them as a broker. The discussion eventually led to me deciding to learn about becoming a remisier first before I become a franchisee owner of Sharekhan.

Am I on the right track to becoming a SEBI registered portfolio manager? Is there an even better course of action that I should be taking?

I'm sensing that a conflict of interest might be there because after reading the remisier porposal, I read about Sharekhan's PMS offerings and I did not discuss about that with the regional manager of Sharekhan.
 
#2
I spoke to the regional manager of my broker, Sharekhan, to learn how Sharekhan could help me become a SEBI registered portfolio manager in Kochi.

One of the points I made was that I needed a broker to open client accounts for me to manager and my first choice is Sharekhan because I've not had a major issue in the last 5 years of having them as a broker. The discussion eventually led to me deciding to learn about becoming a remisier first before I become a franchisee owner of Sharekhan.

Am I on the right track to becoming a SEBI registered portfolio manager? Is there an even better course of action that I should be taking?

I'm sensing that a conflict of interest might be there because after reading the remisier porposal, I read about Sharekhan's PMS offerings and I did not discuss about that with the regional manager of Sharekhan.
I am thinking of becoming a PM too eventually. Could you please summarize the information you have gathered on this topic so far? Thanks in advance.
 
#3
And one more thing, don't go for small investors. They will ask their money back every weekend.
Thanks for your comments. They make perfect sense to me.

I did some research and it seems that registering as a PM with SEBI is a very expensive proposition - they want net worth to be at least 2 crores, plus 10lakhs for registration charges etc. Is this correct?

Would it make sense to become an Investment Advisor instead? How would this be different from PM, other than the fact that IAs can't trade on behalf of the client?
 

rocky9281

Well-Known Member
#7
Since this thread is about starting your own PMS firm,here goes my 2 (or may be more ) cents.
First things first :

I need :
1.To show a networth of INR 2,00,00,000.
2. Application fee for obtaining the licence for INR 1,00,000 (non-refundable)
3. INR 10,00,000 as registration fees
4. INR 5,00,000 as renewal fees EVERY 3 years.

However there is a way by which all the above 4 pointers is going to get solved in a single shot:
To make matters simple, if I can get my hands on 2,00,00,000 INR and deposit that on the bank as Fixed deposit then all the purposes will be solved at a single stroke :
1. I can show a networth of 2,00,00,000 INR
2. From the interests that will be credited, the remaining 3 issues can be solved (obtaining licence, registration fees as well as renewal fees every 3 years)

Additional pointers for those like me who are searching for funds:
As obvious, lesser the money in the form of debt, better it is.
 

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