The remisiers are significant stockbroking professionals who mostly serve as solicitors. They are paid a commission for referring companies to the broker but do not engage in any selling operations themselves.
Table of Contents
What is a remisier?
A remisier goes out and brings in customers for a stockbroker, earning a commission for connecting the two entities. A remisier, by definition, is not a stockbroker’s agent but rather an introducer. When deciphering the definition of remisier, it is critical to distinguish between the roles of remisiers and licenced agencies and investment advisors.
A remisier, unlike an authorised person (formerly known as a sub-broker), does not sign contracts and commission papers in the names of their clients and has no involvement in authorising trades. In contrast to a financial consultant, a remisier will not provide investment advice on taxation, savings, trading, portfolio diversification, or even other risk management methods.
What does it need to become a remisier?
Anyone who wants to supplement their income might consider becoming a remisier. To become a remisier, you don’t need any qualifications other than the ability to persuade and network with potential clients. At the very least, your connections should have the monetary capacity to evaluate stock market investments.
Of course, a person’s interest in investing can be nurtured. In the same manner that people become social media experts to generate profit (or things) from the companies they promote, more and more people are now becoming remisiers. In some ways, a remisier is an influencer, but it’s an offline form of influencer, however, there’s no theory that states you can’t use social media and influencer strategies to bring in business.
You can use your expertise to become a remisier if your family and friends frequently come to you for assistance, particularly on fiscal management. Many remisiers have expanded their services by including financial advice, but this is not required. When you have the expertise, you may always go the extra distance to integrate remisier and monetary advisory services.
Advantages of becoming a remisier:
The major advantage is the ability to create a consistent stream of income. You can utilise the cash to support lifestyle improvements and upgrades, or you might plan investment with them. Because the overall brokerage gained on your contact’s transactions over the whole trading lifespan of the client, not just the initial few transactions, the amount you make will be large.
Unlike many other alternatives for extra income that take either time or money to get started, you can start your business right away.
Work from any location:
The growing trend of remote working helps to work from anywhere and at any time. You may run a remisier company from anywhere, including your own home.
Potential for growth:
As a remisier, there is no maximum bound to how much you can earn. The majority of brokers will allow you to refer as many customers as you wish. Furthermore, you might broaden the area of your services by becoming a financial counsellor.
When taking on a remisier role, keep the following in mind:
The quality of the connections: You may have a thousand subscribers on your social media account, but they must have the financial resources and willingness to invest in the stock market in order to earn a commission from you. As a result, you must establish an appropriate network. Your connections should be open to stock market investing so that you can guide them more easily – this becomes less of a hard sell than trying to persuade clients who have no tolerance for risk.
Your personal reputation/perspective: People must respect you enough to take your recommendations on which broker to choose for investment. Do whatever it takes to establish the ideal reputation.
To supplement your income, you can work as a remisier for a well-known brand. However, you will need the power to convince and persuade others to take your counsel seriously. If you don’t know many individuals, you can start by reaching out to a well-connected family friend or professional link.