Reported by: banking|Updated: May 7, 2019
Financial services company IIFL has come out with a new product – Advisor Anytime Anywhere, or AAA, -with which anyone can become an independent financial advisor – and all that one requires to be such an advisor is refundable deposit of Rs 25,000. The company will provide the hardware and software to onboard, transact and service clients for all financial products and operate from anywhere in India. A person desiring to be an advisor need not be a financial expert to start with. The company will offer a proprietary hardware device, a tablet, with pre-loaded software and data card, giving one real time access to stock markets, mutual funds, news, views, +9expert recommendations. The pre-loaded software gives a 360-degree view of any client’s portfolio and advisor’s overall commission, performance etc. The tablet also has a Learn module for budding advisors. The device is connected to IIFL’s research team, 24×7 service cell and product experts on chat, with ability to call up and speak. The content, service, software, research and tools are all free of Cost. The security deposit is fully refundable within 3 months. Chairman of IIFL Holdings Nirmal Jain said AAA captures expertise built over 2 decades in an 8-inch device and at no cost to new partners. He added that the company will share the income as it is generated.