My father is a proprietor and I work with him in the office. He has decades of stock market experience and has plenty of high value clients. I on the other hand completed engineering in IT and MS in CS and I working on some ML based techniques to trading in my free time but otherwise I handle office work. I am also a SEBI registered mutual fund distributor since December 2018 and I have registered at a few popular fund houses. We have clients that have purchased mutual funds (totaling more than $500k) through my ARN since I became a distributor. So my payments come from commission from the mutual funds not from clients. My question is whether 1114 is more appropriate (the letters come from my clients) or 1113 is more appropriate (letters come from fund houses like HDFC, Sundaram, DSP etc). I would formalize following duties that I generally undertake in my office.
* Manage client portfolios and discuss portfolios with our clients.
* Buy and Sell Mutual funds for our clients via my ARN directly, and all the associated paper work related to it (we do paper based as amounts are high and we are old school).
* Do research on Mutual funds and discuss funds with fund houses and their appointed relationship managers.
* Attend any meetings that mutual fund houses set up.
Since I work in my own office (and I was not paid directly by my business so I am not an employee of it) I don't really know whether a broker (1113) is appropriate or a financial planner (1114) is more appropriate. Since I am paid commission I have been assuming 1113 is the code I should go for, but recently I realized that I am more than just a broker (although I get paid commission) and I do more than that so I could qualify more as a financial planner for my clients (I can prove that). The only tricky part is that our business charges these clients and I am not paid by my business, I am paid directly by the fund houses as long as my clients hold the mutual funds I helped them buy.
* Manage client portfolios and discuss portfolios with our clients.
* Buy and Sell Mutual funds for our clients via my ARN directly, and all the associated paper work related to it (we do paper based as amounts are high and we are old school).
* Do research on Mutual funds and discuss funds with fund houses and their appointed relationship managers.
* Attend any meetings that mutual fund houses set up.
Since I work in my own office (and I was not paid directly by my business so I am not an employee of it) I don't really know whether a broker (1113) is appropriate or a financial planner (1114) is more appropriate. Since I am paid commission I have been assuming 1113 is the code I should go for, but recently I realized that I am more than just a broker (although I get paid commission) and I do more than that so I could qualify more as a financial planner for my clients (I can prove that). The only tricky part is that our business charges these clients and I am not paid by my business, I am paid directly by the fund houses as long as my clients hold the mutual funds I helped them buy.