Considering all the growing companies in India, Veracity Finance Franchise is one of the fastest growing financial services company offering extensive research & advisory tools, world-class customer service, innovative energy, advanced educational & training programs.
Veracity Financial Services is acknowledged to be a new age Company proving trading in Equity markets & Currency Derivatives in India.
In this article, we have taken initiative to discuss about Veracity Finance Sub Broker Program, and its business models, security deposit investment, revenue sharing percentage ratio, offers & more.
Veracity Finance Franchise Customer Ratings & Review
|Veracity Financial Franchise Ratings|
|Products & Services||5.2/10|
About Veracity Finance Franchise
Veracity Financial Services is considered to provide one of the best investment solutions offering full service brokerage.
Headquartered in Ahmedabad, the company was founded by Pramit Bharatkumar Brahmbhatt in 2012.
The company activates the sub broker ID for 28 days and then the sub-broker can commence their own business whereas the sub broker receives the revenue from the company within 3-4 weeks.
Become an Authorized Pers0n of Veracity Finance
Types of Veracity Finance Business Models
Currently Veracity offers 2 business models –
- Authorized Person / Business partner / Sub broker
- Referral Program
Veracity Finance Sub Broker or Veracity Finance Authorized Person
Under the business models, sub broker or business partner is availed to all the clients.
Sub broker in the company works as an agent on behalf of the stock broker and receives revenue generated by the clients.
To be a sub broker in the Veracity Finance, one needs to pay an initial security deposit which ranges between Rs 50,000 and Rs 250,000 whereas the sub broker receives high revenue which exceeds up to 80% with minimum 60% revenue.
Benefits of Veracity Finance Authorized Person
- Sub brokers are offered with flexible revenue sharing from the franchise Company.
- Trading AMC and account opening charges are offered free for both sub brokers and clients.
- Veracity Finance offers Advisory, recommendations and stock tips to the sub brokers and with that they can support their client and help in increase the revenue.
- The high revenue share generated by the clients is received by the sub broker or business partner whereas the franchiser receives low brokerage percentage.
Veracity Finance Referral Program
The referral program is the best way the sub broker can utilize their network to identify the potential candidates.
Hiring a candidate through referral program is far better than posting job posts on the job boards. While no initial security deposit is required for referral program, it collects revenue of 10%.
Benefits of Veracity Finance Referral Program:
- Hiring candidates with referral program is cost effective as a ton of money is saved on the cost of advertising job openings or expensive spending on the agencies.
- The referred candidates are always the one who are highly interested to join the company since that’s their primary reason of asking people in the network to refer them.
- The sub broker or the clients are bound to bring high skilled candidates since their recruitment always reflect on their profession and on the image.
- Referral program most definitely improves the engagement between the sub broker and the franchise since a better referral programs makes them feel like they have a hand for the future of the organization.
Veracity Finance Partner Revenue Sharing or Veracity Finance Sub Broker Commission
According to the revenue sharing model, Veracity Finance comprises of sub broker and referral program.
The sub broker receives revenue that ranges between 60% and 80%. The referral program has revenue collection of 10%. There is no revenue sharing percentage for master franchise or remisier in the Veracity Finance.
Refer to this Table for clear picture:
|Revenue Sharing||Clients Share||Veracity Finance’s Share|
|Sub Broker||60% – 80%||20% – 40%|
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Start your Broking Business with Veracity Finance
Veracity Finance Franchise Cost or Security Deposit
The Veracity Finance under the security deposit model comprises of only sub broker.
The minimum initial security deposit needs to be paid by sub broker is Rs 50,000 which may exceed up to Rs 250,000.
At the moment, the security deposit for Master Franchise and Remisier is not available but the initial security deposit that is collected from sub broker is absolutely refundable at the end of the tenure. No initial security deposit is required for referral program as of now.
Check this table below for better understanding of Veracity Finance Franchise Cost:
|Sub Broker||Rs.50000 – Rs.250000|
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Veracity Finance Franchise Infrastructure Set-up Cost
There is only minimalistic infrastructure requirement in the company.
The sub brokers are expected to have a decent work setup of minimum 120 square feet and have atleast 1 employee in the office.
And owing to the nature of the work, the sub broker will only need to have an advanced trading terminal but there is no need for internet connection, telephone lines or research services.
Veracity Finance Sub Broker Offers
- The company does not allow zero deposit scheme to the business partners or sub brokers.
- There is no low security deposit scheme offered by the company to the business partner.
- Flexible revenue sharing is available in the company.
- The facility of flat revenue sharing is not presently available in the company.
- The ‘Zero revenue sharing with prepaid’ is active in the company.
The offers can easily be availed by all Veracity Finance Authorized Person once they register with Veracity Finance.
Veracity Finance Franchise or Veracity Finance Authorized Person – Eligibility Criteria
Before discussing the criteria that are exclusive to Veracity Finance, it is important to take a note of the statutory & regulatory requirements.
Veracity Finance has a very welcoming policy to ensure the people do not face any difficulty while sharing their ventures. Below are given the basic eligibility criteria to be adhered to:
- Veracity Finance requires the candidate to be minimum 21 years of age.
- It is essential that the candidates applying for sub brokership have a sub-broker registration with SEBI. Te candidates will not get qualified without their registration certificate.
- As per education qualification, the candidate should complete higher secondary level. The candidate having a graduation certificate will have a benefit.
- An candidate should atleast have a minimum 1-2 years of experience with handling financial products’ business.
- The candidate should maintain a clean track record without getting involved in any kind of dishonesty or fraudulency.
How to become a Veracity Finance Sub broker or Authorized Person?
To be a sub broker in the Veracity Finance, the interested candidates should follow the simple steps given below:
- At first, the candidate should fill up the form available in the website of the company.
- The form will be later verified by the executive. If the form has any false information, then the application will get cancelled.
- After the form is verified, an appointment will be fixed between the candidate and the business development executive of the company. During the appointment both sides will clarify doubts and discuss on revenue sharing ratio, security deposit amount, business models, and offers, etc.
- Post the discussion, the candidate will sign on an agreement and will be required to submit some of the documents to the executive.
- After the booker ID gets activated, the candidate becomes sub broker and will be equipped with a sub broker ID and can commence its own business.
Documents required to become Veracity Finance Authorized Person
One needs to submit a minimum of the following documents:
- PAN card
- GST Registration certificate
- SEBI Certificate of Registration
- NISM certificate
- AADHAAR card
- Income proof
- Investment proof for experience
- Canceled cheques
Know about other stock broking franchise:
Why Partner with Veracity Finance?
Here are the various reason to partner with Veracity Finance:
- There is minimum requirement in the infrastructure investment.
- The sub broker receives revenue which is high as 80% while the minimum revenue is 60%.
- There is no security deposit required for the referral program in the Franchise Company.
- The Franchise Company offers free for both trading AMC and account opening charges for the sub brokers or investors.
Veracity Finance Franchise Conclusion
The Franchise Program of Veracity Finance is very attractive. Though referral program does not require paying any security deposit but it has revenue of 10%.
The sub broker can be less worried since there is very minimum infrastructure requirement.
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