The remisiers are critical players in the stockbroking space who primarily function as solicitors. They earn a commission for suggesting businesses to the broker but don’t undertake the selling activities themselves.
In this article, you will understand the definition of remisier and the potential benefits of taking on this role for yourself. Let’s start by defining remisier.
What is a remisier?
A remisier goes out and rakes in clients for a stockbroker and receives a commission for bridging the two parties. A remisier, by definition, is not a representative of the stockbroker but more of an introducer. When understanding the meaning of remisier, it is essential to differentiate between the role of remisiers versus authorised agents and financial advisers.
Unlike an authorised person (earlier called sub-brokers), a remisier does not issue contract and commission notes in their clients’ names and does not have any role to play in enabling trades.
A remisier, unlike a financial adviser, will not offer financial advice on taxes, savings, investing, portfolio diversification or other risk management strategies.
What does becoming a remisier entail?
Anyone looking to earn incremental income can consider becoming a remisier. Becoming a remisier doesn’t demand qualifications apart from convincing and social networking skills to rope in new clients. Your contacts should – at the very least – have the financial resources that would allow them to consider stock market investments. Interest in investing can, of course, be cultivated.
More and more people are becoming remisiers because it presents a source of incremental income in the same way that people become social media influencers to earn cash (or products) from the brands they endorse. In a way, a remisier is indeed an influencer, but the offline kind, though there is no rule saying that you cannot bring in clients using social media and influencer tactics.
If your friends and family members often come to you for advice, especially regarding financial management, you can turn your abilities to become a remisier.
Many remisiers have widened their offerings by incorporating financial advice, but that is optional. You can always go the extra mile to combine remisier and financial advisory services when you have the knowledge.
Benefits of becoming a remisier:
The most significant benefit is to build a source of continual income. You can use the funds to support lifestyle perks and upgrades or plan investment with it.
The amount you earn will be substantial because Angel One shares 25% of the total brokerage received on your contact’s trades for the entire trading lifespan of the client, not just the first few trades.
Especially if you are great at the art of convincing, have the gift of the gab, and are an opinion leader in your circle, being a remisier will require little or no effort. If your friends and family always approach you for financial advice, you are already the right fit to become a remisier. However, don’t worry if you are not natural. You can develop such skills and make a successful career as a remisier.
Unlike many opportunities for incremental income that require either time or monetary investment, you can instantly launch your remisier business. Click here to open your remisier account up and running within a few minutes online.
Work from anywhere:
The emerging remote-working trend allows you to work from anywhere and anytime. You can run a remisier business from anywhere, even from the comfort of your home.
Scope for growth:
There is no limit on how much you can earn as a remisier. Most brokers will let you refer as many clients as you want. Moreover, you can also expand the scope of what you offer by becoming a financial consultant.
Considerations when taking on a remisier role:
Quality of contacts:
You probably can have a million followers on your media account, but they need the financial means and interest to invest in stocks to earn you a commission. Hence, you must develop the right network. Your contacts should be open to stock market investing to allow you to direct them with more ease – it becomes less of a hard sell than having to convince investors with zero risk appetite.
Your own reputation/ outlook:
People must take you seriously enough to accept your advice on which broker to choose for investing. Do what it takes to develop the correct reputation.
A broker’s standards and brand promise:
You need a broker who keeps its promise to you and your clients.
Partner with premier brands like Angel One that have positive reviews among investors. Angel One also offers its remisiers complete transparency. You can track the entire trading history of the clients you’d referred through an Angel One app. You will get timely pay-outs with 100% transparency from Angel One.
You can become a remisier with a reputed brand to boost your income. But you’ll need the skills to influence and convince people to take your advice seriously. If you do not know many people personally, you can tap into a well-connected family member or professional connection to begin.