Leading brokerage IIFL Securities Ltd plans to create 10 lac financial advisors through its new tab based product Advisor Anytime Anywhere (AAA). IIFL offers aspiring financial advisors a unique business opportunity to be an Independent Financial Advisor (‘IFA’) with all hardware and software to on-board, transact and service their clients for all financial products and operate from anywhere in India. Sounds too good to be true? But that is the promise of IIFL’s new product Advisor Anytime Anywhere (AAA). It does not even require you to be a financial guru to start with.
The tablet will be a full-fledged office and a library for information and research. It will allow business partners to sell Mutual Funds, Health Insurance, Fixed Deposits, IPOs, NPS and market products like AIF, PMS, Life Insurance. He will be able to monitor his performance, view customer portfolio, do financial planning for clients and stay abreast with research and market updates.
Further the tablet comes preloaded with a data card and calling facility with an inbuilt Learn module for budding advisors to pass NISM VA examinations. The advisor is connected to IIFL’s research team, 24×7 service cell and product experts on chat, with ability to call up and speak. Further IIFL shall help them in registering for the exams and becoming a Registered ARN holder. Apart from the above, IIFL will provide easy access to a diverse suite of learning topics ranging from technical and fundamental analysis, financial planning, wealth management, product specific knowledge, selling skills.
The content, service, software, research and tools are all free of Cost. The Advisor just has to submit a refundable Security Deposit of ₹25,000 which is fully refundable within 3 months. No explanation required for returning the product and claiming the full refund.
Through the distinctive proposition of ‘AAA’, IIFL is creating a gateway of opportunity to empower aspirants, specifically in Tier II and III centres and helping them realise their entrepreneurial dreams.
Commenting on the target, Chairman of IIFL Holdings Group, Nirmal Jain said “As Indian economy grows, financial sector will grow faster. For true financial inclusion, we need savers to have access to the whole bouquet of products and some competent advisor to guide him or her on products best suited for the risk profile. The country with over a billion people needs more than a million new advisors. The young entrepreneurs have the will but cannot pay a fat bill for software, hardware and infrastructure. This calls for a revolutionary solution. IIFL’s AAA, captures expertise built over 2 decades in an 8 inch device and at no cost to new partners. We shall share the income as it is generated.”
The product also aims at bringing greater efficiencies with services like seamless transactions and end-to-end paperless journey including hassle free on-boarding using Aadhaar enabled e-KYC, AI powered Chatbot to solve Partner queries 24×7 and host of marketing materials to grow their business. The partner can examine his entire performance right from revenue generated, list of inactive clients, SIP generated and much more, through the unique monitor feature.