Domestic brokerage IIFL has launched its Advisor Anytime Anywhere (AAA) service that allows an individual to become an Independent Financial Advisor (IFA) at a cost of ₹25,000.
It comes with a proprietary tablet that has pre-loaded software, giving real-time access to stock markets, mutual funds, news, views and expert recommendations.
The brokerage said this would help individuals in smaller cities achieve their entrepreneurial aspirations even as financial inclusion gets a fillip. It added that this initiative would help create as many as one million jobs.
“A ₹25,000 refundable deposit and [is] all that’s required to be an [IFA], with all hardware and software you need to onboard, transact and service clients for all financial products and operate from anywhere in India,” said a release by IIFL.
The content, service, software, research and tools come free, it said.
The deposit of ₹25,000 is refundable within three months. The device will allow partners to sell mutual funds, health insurance, fixed deposits, IPOs and National Pension System offerings, among others.
