How to become a Mutual Fund Distributor?

How to become a Mutual Fund Distributor?

Distributor (an intermediary) plays a very important and valuable role in promoting sales of Mutual Fund Products. In addition to increase the sales for Mutual Fund products, he also provides advisory services to his clients which are very vital for their goal oriented investments. This is the reason why the Mutual Fund distributors should have the highest standards of knowledge, attitude and ethics.

Both Securities and Exchange Board of India (SEBI)and Association of Mutual Funds in India (AMFI) have played a major role in this regard. They made it mandatory to obtain a mutual fund distribution certification that aims to enhance the quality of sales, distribution and related support services in the mutual fund industry.

About National Institute of Securities Markets (NISM) Certification

An examination will be conducted by NISM and upon clearing that exam, one will obtain the certification. The examination consists of 100 questions of 1 mark each and its duration is 2 hours. The passing score for the examination is 50%. There is no negative marking.

The main objectives behind the exam are:

  • Providing knowledge regarding the fundamentals of mutual fund, its structure, various kinds of schemes /plans with their key features, etc.
  • Orientation towards accounting, valuation and taxation aspects of mutual fund.
  • How to do financial planning of the prospective clients?
  • How to sell the Mutual Fund products in the market?
  • How to develop a long term relationship with the clients?
  • How to answer various queries by the clients?

Therefore, all those who want to get engaged in marketing and selling of Mutual Fund schemes are required to:

  1. Pass the NISM Certification Test known as "NISM Series V (a): Mutual Fund Distributors Certification Examination".
  2. Get registered with AMFI after passing NISM Certification Test.
  3. Obtain a unique code-AMFI Registration Number (ARN) along with an identity card from AMFI.
  4. AMFI will also allot Employee Unique Identity Number (EUIN) to each intermediary along with ARN.

After above process is over, the intermediary has to get himself empanelled to each Mutual Fund House separately, with which he wants to work for.

Following documents are required by the MF house for empanelment:

  1. Empanelment Form, provided by the mutual fund
  2. A cancelled cheque
  3. Copy of PAN Card
  4. Copy of AMFI Certificate
  5. ARN Card

Upcoming Bank Holidays

2017 January 26 is a bank holiday in Andaman And Nicobar Island due to Republic Day.
2017 February 01 is a bank holiday in Andaman And Nicobar Island due to Saraswati Puja (Shree Panchami)/Basant Panchami.
2017 February 10 is a bank holiday in Chandigarh due to Guru Ravidas's Birthday.
2017 February 15 is a bank holiday in Manipur due to Lui Ngai-Niw.

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