₹25,000 refundable deposit and that’s all required to be an Independent Financial Advisor, with all hardware and software you need to onboard, transact and service your 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 concept in simple. It is a proprietary hardware device, a tablet, with pre-loaded software and data card, giving you real time access to stock markets, mutual funds, news, views, expert recommendations, software to have a 3600 view of any client’s portfolio and advisor’s overall commission, performance etc. The tablet also has a Learn module for budding advisors to learn the concepts and practice for NISM exams. 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.
The content, service, software, research and tools are all free of Cost. The Security Deposit of ₹25,000 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 Limited, 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 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.
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.
Mr. Chintan Modi, Director, IIFL Securities said that “IIFL group has been at the forefront in leveraging technology to empower retail investors at the least cost. We believe that mobile technologies are the future. With this tablet the financial advisor can literally carry his office in his back pocket at no cost. Apart from creating entrepreneurs and jobs it will also help retail customers in smaller centres to get access to the best in class products at their door step at minimal cost hence boosting financial inclusion.”
IIFL shall provide the business partners NISM specific learning content and mock test papers. 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.