Stewart & Mackertich Franchise is a global company and have a legacy of being in the Stock Broking industry for more than 3 decades now.
They are one of the leading financial service providers in the country and have been providing exemplary services and products to customers.
Their Research and Advisory services are known for in the industry and valued world wide as well.
In today’s article, we will provide you insights on why you can choose this company to be your preferred business partner and what benefits would it provide you.
Here, we will talk about Stewart & Mackertich Sub Broker Program, its models, their enrolling procedure, documentation required for the same, the various products and services offered by the company and also their Revenue Sharing models.
Stewart & Mackertich Franchise Customer Ratings & Review
|Stewart & Mackertich Franchise Ratings|
|Products & Services||5.4/10|
About Stewart & Mackertich Franchise
Stewart & Mackertich Wealth Management Services is a Private Full Service broker based out of Kolkata,West Bengal, Which was founded by Mr. Santosh Dadeech in the year 1993.
Originally, the company has a history of more than 100 years as it is a conglomerate of two eminent groups Stewart & Co and C Mackertich.
They are a technically strong and advanced organization and hence they have leveraged it to their benefit.
Their Research and Advisory services are also something that they take pride in as they have a very robust Research team.
They deal in an array of products like Equity Trading, Derivatives, Currency Commodities, Depository services, Portfolio Management Services, Mutual Funds, Insurances, IPOs and many more.
The company has been registered with all the major exchanges in the country – BSE, NSE, MCX, CDSL & NSDL as well.
If you wish to partner with them and become a Sub Broker, the entire process will take around 30-35 days and the activation code will also take that much time to be generated.
Moreover, for the normal transactions, the payment turnaround time is also approx 30-35 days.
Become an Authorized Pers0n of Stewart & Mackertich
Types of Stewart & Mackertich Business Models
Stewart & Mackertichoffers two types of business models that you can choose from if you wish to collaborate with them – Sub broker & Referral Program. Let’s see what are the merits in each of them.
- Sub Broker / Authorised Person
- Referral Program
Stewart & Mackertich Sub Broker or Stewart & Mackertich Authorized Person
Being a Sub Broker with Stewart & Mackertich is a fairly simple process.
This model is more like a full-fledged Franchise which means you can operate completely on behalf of the company, sell the products, offer value adds, access their trading platforms and everything just like the broker does.
In lieu of that you get a revenue sharing of the business generated by you.
Benefits of Stewart & Mackertich Authorized Person
There are many advantages that one can enjoy after enrolling with Stewart Mackertich as a Sub Broker, lets have a look at a few of them:
- The legacy of the company dating back almost 3 decades itself is the biggest advantage for a partner.
- Their technological enforcement on the trading platforms have made trading much more smoother and efficient
- The company provides complete training about their products and services to the Sub Brokers
- Marketing & Campaigning help is also provided.
- They have a round the clock customer support & Back office team to provide assistance to customers at any time.
Stewart & Mackertich Referral Program
This is more like an open entry program. You don’t have to register for this.
If you are a trader with Stewart & Mackertich, you can simply refer friends and family to join them, and if they do, then you would get a referral bonanza in lieu of that.
Stewart & Mackertich Partner Revenue Sharing or Stewart & Mackertich Sub Broker Commission
Stewart & Mackertich follow the philosophy of giving due credit to people who deserve it; hence their payouts are also kept with this philosophy in mind.
They ensure that their Sub Brokers get paid as per their efforts that they put in. They have provided a revenue sharing system of 60% to 80% of the total revenue generated for a Sub Broker.
For the referral program, the payout is fixed 10% of the revenue generated. Again, the 60- 80% revenue sharing depends on the quantum of business provided by the Sub Broker, the higher your business value, the more earnings you can expect from the company.
Refer to this Table for clear picture:
|Revenue Sharing||Clients Share||Stewart’s Share|
|Sub Broker||60% – 80%||20% – 40%|
Start your Broking Business with Stewart & Mackertich
Stewart & Mackertich Franchise Cost or Security Deposit
With every Broking house, when you register yourself as a Sub Broker, you have to deposit some amount as a Security deposit.
This is basically kept as a guarantee incase of any emergencies during the trading process. With Stewart & Mackertich, they have a security deposit amount ranging between Rs. 50,000 to Rs. 2,00,000.
This variable amount depends upon the Sub broker; the more you pay, the more you can negotiate for better services or lesser brokerage charges. Generally, the seasoned Sub brokers who have high turnover would go for the higher amount as security deposit
Check this table below for better understanding of Stewart & Mackertich Franchise Cost:
|Sub Broker||Rs.50,000 – Rs.200,000|
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Stewart & Mackertich Franchise Infrastructure Set-up Cost
Infrastructure wise also they have certain norms that the Sub brokers need to fulfill. Although, unlike other companies, Stewart & Mackertich does not have too many conditions but they surely have some basic necessities to be looked at.
They want the Sub Broker to maintain an office with minimum 100 Sq ft area in a decent locality.
They also expect the Sub Broker to hire at least 1 employee who would be dedicated for this project and follow-up from customers etc.
Although internet connectivity and telephone lines is something that they have not mandated for but this could be preferred as the business demands these things. They needs to have access to the trading platforms as well
Stewart & Mackertich Sub Broker Offers
Stewart & Mackertichis known to provide exclusive Offers for their Business Partners and Sub Brokers to run their business smoothly.
They have a practice of Flexible Revenue sharing optionfor the Sub Brokers so that they can earn more out of the business generated.
They don’t provide Zero Revenue sharing with prepaid option. Stewart & Mackertichalso doesn’t have a Zero Deposit or a 10K Initial Deposit option with them as they expect each of their business partners to pay up some initial investment amount and be cognizant for the business that they run.
The offers can easily be availed by all Stewart & Mackertich Authorized Person once they register with Stewart & Mackertich.
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Stewart & Mackertich Franchise or Stewart & Mackertich Authorized Person – Eligibility Criteria
Before discussing the criteria that are exclusive to Stewart & Mackertich, it is important to take a note of the statutory & regulatory requirements.
While joining any Stock Broking company as a business partner, they have certain eligibility criterionlaid out for the partners and their candidature is gauged on that itself.
Similarly even Stewart & Mackertich have some expectations: Here is the complete list that they are looking for:-
- Stewart & Mackertich asks for a minimum educational qualification equivalent to a 10+2 or a diploma course completion which should be completed before they apply for the partnership.
- The NSIM accreditation is also a mandate
- The applicant should also have obtained a SEBI registration certificate to become a Sub Broker
- As per the norms, an Office space is also required and a proof of the same has to be furnished as well, especially if you are applying for a Sub broker role
- For becoming a Sub Broker, they will also check the applicant’s work experience and knowledge about the stock broking domain. To qualify as a Sub Broker, one must have an experience of at least two years in Stock Broking or trading.
How to become a Stewart & Mackertich Sub broker or Authorized Person?
Becoming a Sub Broker with Stewart & Mackertichis very simple and a very hassle free process. All you need to do is follow some basic steps and before you know, you are registered as a Sub Broker with them.
- On the company’s official website, there is an “Partner with Us” section
- You need to fill basic details there like your name, Email Id, Phone Number and Location and click on the “Submit” Tab.
- The system will be directed to a registration page where you need to fill some more details
- Fill all the details accurately –Address, Date of Birth, Contact numbers, Bank account details, Current Income, business prospect and plan etc.
- When you click on submit, the system will allow you to upload some documents. Upload your KYC documents online and get done with the registration process.
- Once you have completed the registration process, you will receive a confirmation call from Stewart & MackertichSales team. After the confirmation and authentication, the final joining formalities will be carried out. You should receive your license within 20-25 days.
Documents required to become Stewart & Mackertich Authorized Person
One needs to submit a minimum of the following documents:
- A copy of your PAN Card
- Copy of Adhaar Card
- SEBI Registration Certificate
- Birth Certificate copy
- Passport sized photographs
- Academic Qualification Certificates
- Cancelled Cheque for bank account details
- Payment Proof for complete security deposit
- GST Registration
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Why Partner with Stewart & Mackertich?
Tying up with Stewart & Mackertich gives you lots of benefits and advantages as a Sub Broker:
- large customer base and their widespread network across the country can boost your business expansion plans
- State of the art trading platforms enable smooth work for the trader as well as the Business Partner.
- Their strong research and back office team is always readily helping customers who get stuck in any of their trading activities
- Flexible Revenue sharing model enables you to set business goals and flourish in your business
- Marketing campaigns and marketing assistance that they provide at regular intervals will surely help you get more business portfolio
Stewart & Mackertich Conclusion
Stewart & Mackertich is a very professional and transparent company to work with. Their efficiency in all the process and ethical business practices makes collaborating with them very easy and hassle free.
Various offers and services keep them on the edge and better than all their competitors. Definitely a recommended company to work with as a Sub broker.
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Start your Broking Business with Stewart & Mackertich
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