Wealth Discovery Franchise / Sub Broker / Authorized Person / Partner ReviewLast Updated Date: Nov 16, 2022
Wealth Discovery Franchise is the largest and top ranking stock broking house in the country which had been ruling the share market industry for the last 9 years.
The company aims to possess the largest Distribution Network and thus has skilled professionals which offer trading and investment products such as derivative, equity, mutual funds, commodity, currency, etc.
In this article, we will put an in-depth analysis about Wealth Discovery Sub Broker Program and its business model, revenue sharing structure, security deposit investment, offers and much more.
Wealth Discovery Franchise Customer Ratings & Review
|Wealth Discovery Franchise Ratings
|Products & Services
About Wealth Discovery Franchise
Wealth Discovery is one of the leading private based broking house which offers full service broker. Headquartered in New Delhi, Delhi, Rahul Agarwal established the company in 2010.
The company consumes from 3 to 5 weeks to successfully activate the SB Code whereas the company takes 33 days to give revenue to the sub brokers.
Become an Authorized Person of Wealth Discovery
Types of Wealth Discovery Partnership Association
The broking house has only 1 business model –
- Authorized Person / Business partner / Sub broker
Wealth Discovery Sub Brokers or Wealth Discovery Authorized Person
Wealth Discovery comprises of only sub broker under the business model. A sub broker is someone who registered under SEBI to work as an agent on behalf of a stock broker.
The sub broker needs to pay an initial security deposit of minimum Rs 50,000 that may exceed up to Rs 200,000. The sub broker of Wealth Discovery enjoys revenue collections that vary between 60% and 85%.
Benefits of the Wealth Discovery Sub Broker Model:
- A low investment is required for the sub broker or Authorized Person (AP) or Business partner which is apparently suitable for every budgeted applicant.
- The sub broker or business partner is offered with back-office support, trading support, advisory support, stock tips & recommendations from the franchiser end.
- Every products, services and offers that are launched by the franchiser are also available to the sub brokers.
Wealth Discovery Partner Revenue Sharing or Wealth Discovery Sub Broker Commission
Under the revenue sharing model, the Wealth Discovery offers only sub brokers. The sub brokers are offered with revenue sharing collection that ranges between 60% and 85%.
The Wealth Discovery does not offer Master Franchise or Remisier. There is no referral program under the section of the revenue sharing model.
Refer to this Table for clear picture:
|Wealth Discovery Share
|60% – 85%
|40% – 15%
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Start your Broking Business with Wealth Discovery
Wealth Discovery Franchise Cost or Security Deposit
Only sub broker comes under the Wealth Discovery. The company levies a security deposit of minimum Rs.50,000 which may exceed up to Rs.200,000.
Under the security deposit model, there is no master franchise and remisier available in the company. There is no referral program available under the section of the security deposit.
Check this table below for better understanding of Wealth Discovery Brokers Franchise Cost:
|Rs.50,000 – Rs.200,000
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Wealth Discovery Franchise Infrastructure Set-up Cost
Wealth Discovery have very little infrastructure requirement which the sub broker can easily maintain.
The Franchise Company expects the sub broker to possess an office area of minimum 100 square feet where he can interact with the clients.
There should be a minimum 1 employee present at the office space. There is no need of internet connection, research services, trading terminals or telephones in the Company.
Wealth Discovery Sub Broker Offers
- The facility of zero deposit is active in the company.
- Low security deposit scheme is offered to the sub brokers.
- The revenue sharing provided by the company is very flexible.
- The flat revenue sharing currently is not available in the company.
- The facility of ‘Zero Revenue Sharing with Prepaid’ scheme is not offered by the company.
Wealth Discovery Franchise or Wealth Discovery Authorized Person – Eligibility Criteria
Below mentioned are the eligibility criteria or guideline for the individuals who wish to undertake sub brokership in the Wealth Discovery:
- The mandatory age of the applicant should be minimum 21 years old.
- The applicant applying for sub brokership should have atleast passed higher secondary from an institution that is government authenticated. The applicant having a graduation certificate will have an added benefit.
- The most mandatory and statutory criteria is that the applicant is registered under SEBI.
- The basic criterias like age, academics, qualification, experience, etc are needed to be fulfilled.
- Possessing basic knowledge on computer is a must for the applicants.
- The applicants should not be involved in any kind of dishonesty or fraudulency. Before hiring anybody, the company checks background details of the candidate and if any kind of offence is found, then the application will get cancelled.
- It is expected from the applicant to have a sharp knowledge in the latest information based on Economics, Environment scenario and Politics.
- A minimum 1-2 years of experience is expected from the applicant with selling financial products. The candidate having an experience of working with a sub broker will be an added benefit.
- It is a must that the applicant is a resident of India.
- The interested candidate is required to have atleast the basic skills and knowledge on brokerage and also have some experience in the field.
- The company wants the applicant to be fit and fine both physically and mentally abiding by all the rules and regulations of the company.
- They should have a technical knowledge on the share market.
How to become a Wealth Discovery Sub broker or Authorized Person?
Wealth Discovery prescribes some of the simplest and easiest steps for the interested candidate applying to be a sub broker:
- The candidate at first would be required to fill up a form with putting all the correct details.
- In the second step, the executive of the company will contact the applicant to discuss on candidate’s interests and expectations.
- After the details provided by the candidate are verified, then an appointment is fixed between the Wealth Discovery team and the applicant and if any information turns out to be wrong, then the applicant will get disqualified.
- About the appointment, the Wealth Discovery team clarifies all confusion and talk on the topics including revenue sharing ratio, business model, the expectation of Wealth Discovery, candidate’s expectation, the investments, offers, etc.
- The candidate is needed to sign on an agreement and is needed to submit some of the mandatory documents like registration from ID card, SEBI, BSE, NSE academic certificates, etc.
- After executing the agreement, the executive of the company hands over the sub broker ID to the candidate and after that they can commence their business as VNS Finance And Capital Services Limited associates.
Know about other stock broking franchise:
Why Partner with Wealth Discovery?
- The Company Franchise offers low security deposit scheme and allows zero deposit to the sub brokers.
- Free Trading AMC is offered to the sub brokers.
- The Franchise Company offers dealing training and product training to the sub brokers and the clients.
Wealth Discovery Franchise Conclusion
The Franchise Program of the Wealth Discovery is pretty decent as it has minimum investment but enjoy a big revenue sharing.
The Franchise Company has some luring offers including zero deposit, low security deposit and flexible revenue sharing.
There is not much of infrastructure requirement from the sub brokers and thus it is easier for them to maintain and abide by it.
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