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IFA Desk > blog > Mutual Fund Agent > The Next Steps After Mutual Fund Empanelment
Mutual Fund AgentPractice & Techniques

The Next Steps After Mutual Fund Empanelment

Last updated: February 24, 2024 10:12 pm
Rajendra 2 years ago

Congratulations on passing the NISM exam and completing the empanelment process! Now that you have received your ARN card and successfully empaneled with an Asset Management Company (AMC), you might feel excited to start your journey as a mutual fund distributor. However, you might also have numerous questions in mind about how to conduct your business effectively, understand different mutual fund schemes, and receive commissions for your efforts.

Contents
Product Training:Selecting AMC for BusinessHow to select AMC?Transaction Processing: Networking and Collaboration: Conclusion:

In this article, we will delve into the next steps after empanelment and shed light on key aspects of the mutual fund distribution process.

From learning about various mutual fund schemes to acquiring clients and receiving commissions, we will discuss essential strategies and insights to empower your success as an empaneled distributor.

Product Training:

In the Mutual Fund industry, product training plays a crucial role in enhancing your knowledge and expertise. Depending on your ability and preference, you have the option to attend specific training sessions. These training sessions can be either online or offline, providing you with valuable insights into various mutual fund schemes and investment strategies. Some AMCs offer convenient online training videos accessible through their advisor login portals, allowing you to learn at your own pace through a DIY (Do It Yourself) approach. Embracing these training opportunities equips you with the necessary skills to effectively serve your clients and make informed investment recommendations.

Selecting AMC for Business

After successfully empanelling with all AMCs, the next important decision to make is whether to conduct business with all of them or choose a selective few.

It is advisable to initially select around 5-10 AMCs for your mutual fund business. This approach allows you to focus on learning the intricacies of their schemes and other relevant aspects.

While you may wonder why you should register with all AMCs, the key reason is that without Empanelment, you won’t be eligible to receive commissions.

It is crucial to be registered with an AMC if a client demands a specific scheme from that AMC; otherwise, you may miss out on receiving any commission.

It’s worth noting that empaneling with an AMC does not obligate you to immediately start conducting business, but registering with all AMCs ensures you are well-prepared to meet clients’ diverse investment preferences and safeguards your potential earnings.

How to select AMC?

Once the empanelment process is complete, you will receive a welcome kit through email, and some AMCs may also send it to your postal address. Additionally, you will receive a mail detailing the commission structure. At this stage, it is essential to analyze the fund performance and understand how you will receive commissions. You can then create a combination of schemes and shortlist the ones you want to do business with under each AMC.

In my case, I personally registered with all AMCs, allowing me to conduct business with 20 of them that pay me monthly brokerage. However, I have chosen to focus primarily on a selected group of 10 AMCs.

By concentrating on these preferred AMCs, I can streamline my efforts, deepen my understanding of their products.

Transaction Processing:

Registering with CAMS and KFIN Tech for the mailback service is a crucial step in your journey as a mutual fund distributor. These logins serve as master logins, providing access to essential tools and information.

With these logins, you can efficiently access and view all reports related to your investors. This convenience allows you to stay updated on your clients’ investments and track their performance effectively. Moreover, through these logins, you can carry out online transactions such as purchase, redemption, and switching, making the investment process seamless and convenient for both you and your clients.

These powerful tools streamline your operations and enhance your ability to offer top-notch service to your investors.

Additionally, you can also log in to the AMC advisor portal, which provides you with comprehensive access to various functionalities. Through this portal, you can perform all necessary tasks related to mutual fund distribution.

Networking and Collaboration:

Establishing robust connections within the industry and collaborating with fellow financial professionals can yield valuable insights.

Conclusion:

In conclusion, the mutual fund distribution journey is filled with exciting opportunities for empaneled distributors. By proactively engaging in product training, focusing on selected AMCs, and leveraging essential logins like CAMS and KFIN Tech, distributors can enhance their knowledge, provide top-notch service, and efficiently manage client investments.

Embracing the power of networking and collaboration further strengthens their position within the industry, opening doors to valuable insights and potential business referrals.

It’s just the beginning of an exciting journey of gaining knowledge and skills in this field.

If you have any questions regarding this post, feel free to leave a comment. I’ll be happy to provide further clarification or address any inquiries you may have. Your feedback and engagement are highly appreciated!

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