Remisiers play a vital role in the stockbroking industry as intermediaries. They earn a commission for recommending business to the broker. However, they don’t handle the actual sales themselves. In this article, you will learn who are remisiers, how they differ from brokers, financial consultants, etc., their roles and responsibilities, the benefits of this role, and factors to consider when taking up this role.
Table of Contents
Defining Remisier
A remisier refers to someone who helps a stockbroker find clients and earns a commission for connecting them. It’s important to note that they are not a representative of the stockbroker but more like an introducer.
- Unlike authorised person (sub-brokers), they don’t handle the paperwork for trades or commissions in their clients’ names, and they don’t assist in making trades happen.
- In contrast to financial advisers, they don’t provide advice on topics like taxes, saving money, investing, creating a diverse portfolio, or managing risks.
Becoming a Remisier
- To become a remisier you don’t need specific qualifications, just good communication and networking skills to bring in new clients.
- It’s helpful if the people you know have enough money to consider investing in the stock market, and if they aren’t initially interested, you can spark their interest over time.
- More and more people are becoming remisiers because it offers a way to earn additional income, similar to how some people become social media influencers to make money or get free products from the brands they promote.
- In a sense, they are influencers, but they work offline. However, there’s no rule against using social media and influencer strategies to attract clients.
- If your friends and family often seek your advice, especially when it comes to managing their finances, you can use your skills to become one. Some of them also offer financial advice as part of their services, but this is optional. If you have the knowledge, you can go the extra mile by combining remisier and financial advisory services.
Difference Between a Remisier, Sub-Broker, Financial Consultant, and Investment Consultant
Remisier
- Acts as an intermediary between clients and brokerage firms.
- Earns commissions for facilitating trades on behalf of clients.
- Focuses on executing trades rather than providing comprehensive financial advice.
- Introduces clients to the stockbroker.
Sub-Broker
- Partners with an established stockbroker or brokerage firm.
- Operates under the legal authorisation of the franchisor.
- Offers a range of financial services and products on behalf of the franchisor.
- Can have their own separate office and operations while using the broker’s brand name.
- Handles the issuance of contract notes and confirmation notes for their clients.
- Can take full responsibility for executing trades on behalf of clients, a role that remisiers cannot perform.
Financial Consultant
- Provides comprehensive financial advice and planning services.
- Offers expertise in areas such as investment, retirement planning, and insurance.
- Typically works independently or with financial advisory firms.
Investment Consultant
- Specialises in providing advice on investment strategies and portfolio management.
- Assists clients in making informed decisions about buying or selling securities.
- Focuses on optimising investment returns based on the client’s financial goals.
Benefits of Being a Remisier
Incremental Earnings
One of the most significant benefits is the ability to build a source of consistent income. These funds can be used to support lifestyle perks and upgrades or for investments.
Minimal Effort
You will not have to put much effort into being a remisier if you have the art of convincing, the gift of gab, and are an opinion leader in your circle. Moreover, this job is already a right fit if your friends and family continually ask for your financial advice. However, if you lack these skills or knowledge, it’s okay. You can develop such skills and succeed.
Zero Investment
As opposed to many incremental income opportunities that require time or money investment, you can instantly launch your business.
Work from Anywhere
The trend of remote working allows you to work anywhere and anytime. Even from home, you can run your business.
Scope for Growth
You can earn as much as you want. Brokers usually allow you to refer as many clients as you like. Additionally, you can expand your services by becoming a financial consultant.
Key Considerations for a Remisier Role
Quality of Contacts
- Ensure your network consists of individuals with both the financial means and interest to invest in stocks.
- Focus on building connections within the target market to increase the likelihood of successful referrals.
Reputation and Outlook
- Establish a positive and trustworthy reputation within your network.
- Being taken seriously is crucial for clients to accept your advice on investment decisions.
Brand Promise
- Choose a broker known for reliability and integrity to uphold your promises to clients.
- A broker with a strong commitment to fulfilling agreements enhances your credibility.
Conclusion
A remisier is a person who assists brokers in locating clients and earns income from this effort. You can become a remisier with a reputable company to increase your earnings. However, it’s essential to possess the skills to persuade and gain the trust of people so they take your advice seriously. If you don’t have a large personal network, you can start by leveraging a well-connected family member or professional contact.
