mutual fund

Customers can invest in Mutual Funds of any ticket size through Payworld’s Digital Wallet as per SEBI guidelines.The investment may be in liquid, equity or hybrid schemes as per their interest. With so many SIP awareness programs running, this service holds higher potential to serve as a good investment opportunity. 

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FAQs

1. Tell me more about becoming a mutual fund agent.
Mutual Fund agent is the one whose job is to facilitate the buying and selling of mutual funds by investors. Every time they bring in investors into these mutual fund schemes, they earn a commission for their work. These agents have to keep investors aware of all the various schemes of mutual fund houses. They also need to keep them updated about their clients investments. Another work that a mutual fund selling agent has to do is to help their investors in doing their investment transactions relating to switching, redemption as well as supervise them.   A mutual fund agent helps the investors in carrying out investment transactions relating to switching, redemption and supervises them systematically on the performance of their investments.   A mutual fund agent has to keep track of the Functioning and performance of the mutual fund industry. They also have to conduct various qualitative and quantitative analysis by using the databases, by monitoring the regulatory information, and they might have to take interviews of several portfolio managers.   A mutual fund selling agent also requires to constantly monitor all the important and essential developments being made in the fund industry, the markets as well as the broader economy.   One of the key tasks that a mutual fund agent has to do is to coordinate and collaborate with the fun research team to identify the best-suited options for investments and intermittent risks. This method helps to create a robust database for research recommendations and conclusions.   Once you become a mutual fund agent, your work will be to - 1) Making various investors aware of the various schemes that are available in the market. 2) A mutual fund agent has to explain the effectiveness of mutual fund plans to the investors. Also, compare the differences when compared to other competitive products. 3) They also help their investors carry out various transactions associated with buying, switching, and redemption. 4) They also need to keep their clients updated about the performances of their investments.
2. How to become mutual fund agent?
Many people have this question and doubts relating to the process of how to become mutual fund agent? Becoming a mutual fund agent is an easy process; you need to follow certain steps to get yourself registered as a mutual fund selling agent. 1) Pass the NISM series V-A: mutual fund distributors certification examination. There are no specific eligibility criteria for the post of a mutual fund agent. But you must have cleared the NISM's mutual fund distributors exam to start working as a mutual fund agent or a distributor.   Like all other exams, this exam also demands you to study intensively and do well planned and organized preparations. The question how to become agent of mutual fund is very common. So, it is better to start preparing rather than just wondering, preparation is the only onley key for one to become mutual fund agent.   Only 60% of the applicants pass this exam, so taking this exam with no or little preparation is not a good idea. There are plenty of mock tests and practice papers for you to practice and prepare yourself for this exam. People over the age of 50 years can be exempt from this exam by taking the one-day training exam offered by NISM, which is also known as NISM continuing professional education (CPE).   The mutual fund agent registration for the NISM series VA mutual fund distributors certification exam will cost you Rs. 1,500/- and the NISM mutual fund CPE costs Rs 2500/-. You will receive the certificate about ten days later.   How to become mutual fund agent? Or How to become mf agent?   The whole process of mutual fund agent registration and enrollment for both of the exams is completely done online. A mutual fund agent list will be available online to help you choose the might MF.   2) Register yourself with AFMI through CAMS office. After you qualify the NISM series V-A exam, you become eligible to work as a distributor. Another key procedure you need to go through is the KYD or the know your distributor procedure along with your application form for the AMFI registration number (ARN). The ARN application form is a small application form in which you need to fill certain details such as your name, address, qualifications, bank details, attach a photograph, etc. The fees for this form is Rs 3000/- along with some applicable GST. This has to be made in the form of a demand draft.   These duly filled forms need to be submitted in any of the CAMS offices. In case you are not a KYD applicant, you are required to be physically present in the CAMS office while submitting your form along with your biometrics. Once you submit your form successfully with all the required documentation, you will receive your ARN card at your registered address within a couple of days.   3) Register with AMCs Once you receive your AMFI mutual fund agent registration number, you become eligible to distribute mutual funds and for mutual fund commission to agents. There is another small procedure you'll have to do before you start your job. You would need to register yourself with each mutual fund house so that you receive a mutual fund commission to agent, application forms, marketing materials and other things. There are a lot of mutual funds houses available, and you can choose the best or the top 5 or 6 of them to work.   So to summarize all you need to start working as a Mutual fund selling agent or distributor, you need to follow all the steps mentioned above. This whole process takes about one month or two, which includes the time for the preparation as well.
3. What are the skills required to become mutual fund agent? And How to become mf agent of your choice of bank?
The various Skills required for you to become mutual fund agent are as follows;   1) They should have the capability well to organize quantitative analysis for the rate of interest. 2) He/she must have the understanding to examine debt and loan portfolio performance. 3) Mutual Fund Distributors must recognize how to achieve credit evaluation with global practices. 4) The agent improves the Basel based internal rating system. 5) Mutual Fund Advisors should comprehend how to create more useful trade ideas & know the difficulty in case of loans. 6) He/she must be capable of building & managing credit risk models. 7) Mutual fund agents must have an understanding of how to create credit strategy and credit portfolios. 8) The agent needs to recommend their clients with the best mutual plans for investment. 9) They should educate their clients to invest more in mutual funds.
4. What is the commission structure of a mutual fund agent?
Mutual Fund Agent has the following commission structure. A mutual fund can find themselves a revenue source with the help of the attractive commission structure in place for mutual fund distributors. A mutual fund agent or distributor can earn a commission in the manner as detailed below:   1) Trail 1st Year: AMCs pay this type of mutual fund commissions to agents on the sale of plans on the first sale they make. This commission is included in the overall total expenses. This commission is offered to those mutual fund agents whenever a fresh investment is successfully completed. Every plan has different commissions, and it varies from plan to plan.   2) Trail 2nd Year: Most of the mutual fund agents make most of their earnings through trial commission. It can be said that this is their main source of earning. AMCs pay this commission to their agents, and an agent is eligible for this commission as long as they keep their clients invested in the mutual fund.   The percentage of your AUM or asset under management defines your trial commission. The structure of the trial commission has been created in a way so that the agents can build trust with their clients and avoid any circumstance of mis-selling.   Trail commission is considered as an integral part of the expense ratio of the mutual fund scheme. A Trail commission from equity funds ranges from 0.2-1% and for debt funds it is in the range of 0.1-1%.
5. Tell me more about Payworld India.
Started with an objective to provide a secure and user friendly platform for the countless consumers that constitute the Semi Urban India, Payworld is a pioneering financial service program. Having commenced its operations back in 2006, the Fintech company has generated its profile with an amazing network of more than 250,000 retailers. Addressing 630 of the 739 districts in India, the Payworld network is unparalleled in the country. As imposing as the network may seem, the bouquet of services being offered by Payworld is much more fantastic. From Mobile & DTH Recharge to Insurance coverage, Loans & Mutual Funds; from BBPS Bill payments to AEPS and domestic money remittances; it addresses the entire gamut of financial services a semi urban Indian may need. Payworlds network system consists of more than 50,000 BC agents, treated as essential service providers in these challenging times, maintaining the financial needs of the people of India. Serving a staggering 25 million consumers in such trying times in an uninterrupted manner is a huge achievement in itself. Taking delight in assisting their countrymen, the team is fully dedicated to deliver services wherever required.