Eligibility criteria and requirements to become a mutual fund agent

Who are mutual fund agents?

Mutual Fund Agent is the one who helps to buy and sell mutual fund by investors and gets a commission for bringing in investors into mutual fund investments. They inform the investors of different schemes of mutual fund houses in India. They assist the investors in bringing out investment transactions associating to switching, redemption and manage them regularly on the performance of their investments.

Which types of mutual fund services they inform about :

• Equity mutual funds
• Debt funds
• Income Funds
• Short- Terms mutual funds
• Large Cap mutual funds
• Midcap funds
• Multi-cap mutual funds
• Small-Cap mutual funds
• Liquid funds
• Balanced Mutual funds

All of the above mutual funds have their own benefits mutual fund agents are an informer for different mutual fund investment related to these funds.

They have to pursue the Functioning and review of the mutual fund industry. Mutual fund agent has to manage quantitative and qualitative review using databases, control regulatory data and examining portfolio managers. He/she has to control major improvements in the fund industry, markets, and the wider economy.
They have to strongly regulate and cooperate with the fund analysis time to recognize the best investment options and changing risks. This improves to build a strong research database with fund suggestions and results.

Examination for Mutual fund agent

To be a mutual fund agent one requires to pass National Institute of Securities Markets (NISM) V-A certification exam.

Fee structure:

For person fee is Rs. 3000+ 18% GST and in demand draft.

The applicant can find the Full detail about the NISM series V-A: Mutual fund distributors certification examination Fee Structure here.

Steps to become a mutual fund agent

To become a Mutual Fund Distributor, one has to understand the below-provided steps:

• After finishing the 10th class with 3 years of diploma or 12th class from any steam. The applicant has to pass an exam administered by the National Institute of Security Market (NISM) i.e. series V A mutual fund distribution certificate.
• Following the clearance of exam 1 is eligible to become a Mutual Fund Agent. Still, it will be prudent for ambitious applicants to include bachelor’s degrees like Honors, BA Honors, etc. The applicant requires to make sure that his/her stream must involve subjects like economics accounting tax and Finance or investment analysis.

Eligibility criteria for becoming a Mutual Fund Agent

• Educational Qualification

To begin a career as Mutual Fund Distributor the least demand is NISM Series VA Mutual Fund Distributors Certification. Also a registration number from the AMFI( Associations of Mutual Funds in India).

Note: Minimum qualification- Have given the examination is class 12 or class 10th or 3 years of a diploma.

• Age Limits

The applicant must be 18 years or  above for being mutual fund advisor

• Skills required for a mutual agent

1. Mutual fund agent should streamline quantitative analysis for interest valuations.
2. One should understand how to examine debt and loan portfolio performance.
3. He/she must intensify Basel based internal rating system
4. One should develop & manage credit risk models.
5. They should increase the credit monitoring system of clients.
6. He/she should begin lending and investment advice.
7. They must know how to create a credit strategy and credit portfolios.

•  Criteria for NISM Series V (a) and Mutual Fund Distributors CPE Program

General Category: Any individual having any of the following Certificates:

1.  NISM Series V (a)- Its is a Mutual Fund Distributors Certification Examination
2. NISM Series V (a)- Its is a Mutual Fund Distributors Continuing Professional Education
3. AMFI Mutual Fund (Advisors) Module
4. IICM: Refresher Course on Mutual Funds*
5.  CIEL: Refresher Course on Mutual Funds*

• The validity of the Certificate shall be estimated to be of 5 years from the date of issue of the certificate.
• The validity of which has not expired may serve NISM Series V (a): Mutual Fund Distributors CPE Program.
• Moreover, any individual owning a valid ARN Card, whether or not handling any of the above-mentioned Certificates. May serve NISM Series V (a): Mutual Fund Distributors CPE Program.
• On the advice of AMFI/Mutual Fund Distributors, this ability measure has been included as a substitute 4 for the operational efficiency of Applicants/Mutual Fund Distributors.

Note: Candidates can attend the CPE Program not before twelve months prior to the expiry of the said Certificate / ARN Card.

• Grandfather by Age Category

Any linked individual other than Principal, who has achieved the age of 50 years. May serve NISM Series V (a): Mutual Fund Distributors CPE Program below the ‘Grandfather by Age Category’.

• Grandfather by Experience Category

Any linked individual, other than Principal having exposure of 10 years or more as a distributor, agent or employee. Also, involved in the sale and distribution of Mutual Fund products. May serve NISM Series V (a): Mutual Fund Distributors CPE Program below the ‘Grandfather by Experience Category’.

Required Documents for NISM

The following documents need to be certified at the CPE venue for visiting the Mutual Fund Distributors CPE Program:

General Category

1.  PAN Card Copy
2. ARN Card valid copy

Grandfathered by Age Category

1. PAN Card copy

Grandfathered by Experience Category

1. PAN Card Copy
2. Experience proof

Note: A Letter from an AMC duly approved and marked by Chief Manager confirming that the applicant has 10 years or higher than 10 years of work experience in trading and distribution of Mutual Funds.

Conclusion

The eligibility criteria to become mutual fund advisor is simply the person has to be 18 years or above. Mutual fund agent has to follow debt market trends, associating with fund managers. Also, making sector reports, providing reports on mutual funds and unique offerings. They even meet new clients. Mutual funds give long-term career options. A mutual fund agent requires to perform varied roles and duties. Start with the control of equity, debt and diversified fund with the help of the research desk. Taking responsible investment and exit choices for the fund. Even giving superior returns related to the benchmark returns and controlling investments daily to find different investment plans.

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