With the substantially increased number of investors entering the stock market, the need for more authorised persons have arisen. Sub-broking is essentially the function of being a middleman between the client and the shareholder. You can become an authorised person with RS Wealth to kickstart your authorised person career. You must also be wondering about the financial aspect of being an authorised person with RS Wealth. This article explains how much you can make by being an authorised person with RS Wealth and also acts as a guide to get started with RS Wealth. Without further ado, let’s dive right in.

Requirements for an Authorised person on RS Wealth 

Before finding out how much you can make as an authorised person with RS Wealth, let us go through the eligibility criteria and the requirements that are to be met in order to become an authorised person with RS Wealth. It is essential to understand that being an authorised person is similar to that of being a business partner. So, the following are the requirements to be met to start with your journey as an authorised person with RS Wealth.

1. Age

You must be above 18 years of age to be eligible to become an authorised person with RS Wealth.

2. Registration

You should be registered with the Securities and Exchange Board of India (SEBI).

3. Subject Matter Expertise

It is necessary for you to have good knowledge of the stock market and a great understanding of all the concepts and terminologies involved. It is also a plus if you have deep insight into Indian politics as it affects the economic condition of the country which ultimately has an impact on the stock market.

4. Soft Skills and Languages

As being an authorised person is essentially a link between the client and the stockbroker, it is recommended to have good communication skills and great interpersonal skills. It would be beneficial to be fluent in English and a few regional languages.

5. Education

You should have passed 10+2. It is a plus if you are a graduate or are a postgraduate. If you do not have a 10+2 degree, you will have to submit an experience certificate of at least 2 years of work experience in the market.

6. Experience

A minimum of 2 years of experience in the financial sector is necessary if you do not have a 10+2 degree, to become an authorised person with RS Wealth.

RS Wealth Authorised Person Charges

Every authorised person, irrespective of their age or expertise, expects to make profits with their skills. If you want to become an authorised person with RS Wealth, you should know that RS Wealth offers a commission. This commission, unlike other stockbrokers, is very lucrative and helps you make huge financial gains. When it comes to the commission that RS Wealth gives to the authorised person, it depends on the brokerage they charge from the customer during their trades.

For example, consider a client who has a Demat account with RS Wealth. Consider that RS Wealth charges 0.2% as commission against each buy order or sell order that is placed by the customer. Let’s say that the customer places an order worth Rs. 10,000. In this case, the brokerage would amount to Rs. 20.

Now, when it comes to the commission provided by RS Wealth to the authorised person, it varies between 50%(order-based) and 70%(volume-based). So, from the previous example where RS Wealth’s commission was Rs. 20, the authorised person would get anywhere between Rs. 10 and Rs. 14 per trade that is executed by the customer.

Final Thoughts

Now that you know the different commission rates for RS Wealth and an authorised person depending on the type of partnership, make the right choice before moving ahead. However, ensure that you have the required eligibility to become an authorised person with RS Wealth before applying. If you do not meet the eligibility criteria, it is advisable to take your first step and build your profile to meet the criteria. Once you do so, you can begin by applying to RS Wealth to become an authorised person.