The financial market of the developed region is considered to be one of the key promising financial markets across. The few financial products are being offered over various trading activities from the past few years. The corporate currently charge for a brokerage fees for their equity trading and other financial services such as asset management, mutual funds, wealth management, top picks, trading and several other services that can appeal the consumers. A brokerage in a simple way said to be firm which acts as an intermediary service provide between a buyer and a seller. Moreover, a brokerage firm is employed by both the parties in order to make deal authenticating for both the parties. The broker is responsible for completing legal paperwork, collecting signatures and other associated activities. The money Insurance brokers play an important role in insurance industry they act as intermediary between the policy holders and insurers.
The insurance brokerage firms deliver professional and the technical guidance to their clients about the different insurance products over a wide range of Insurance carriers as per client’s needs. The brokerage firms are most commonly selling of buying and selling stock shares. In one type of brokerage arrangement, a broker can be given a power of attorney for trading stocks on behalf of their client, however this includes a considerable fee associated to the brokerage firm. The other provisions brokerage also includes research associated to own & employing brokerage for merely conducting a transaction. Moreover, the wide scale shifting of trading activities from offline to online has also surged revenues opposed by full service provider brokers.
The financial brokers have now developed their marketing ability to assist customers in meeting up their goals with a wide suite of products & services strengthening their relationships over the long term association with clients. The growth, and increase in using of internet, smartphones, and mobile apps as well as the evolvement of lower brokerage fee has led brokers to gain momentum in the market in financial brokerage market growth rate over forecast period. However, it is likely to take some more time before it could be witness kind of volume that has increased with the discounted brokerage model. Some of the key players driving financial brokerage market size include RKSV Securities, Zerodha, Bonanza Portfolio Ltd, Achiievers Equities Ltd, IIFL, 5Paisa Capital Ltd., Geojit BNP Paribas, HDFC Securities, Axis Direct, Fyers Securities, Aditya Birla Money.
Based on the increased competition the discount brokers services in form of lower brokerage charges, the full service brokers have moved their strategy for boosting revenues from the non-brokerage segment. Asset management services, portfolio management services, insurance broking and mutual funds are the non-brokerage segment are considered to be full time services for brokers with focussed objectives. The offline clients are mostly the large size key customers that track market closely and want a physical edge with the broker, online clients are mostly retail investors that trade on their own. It is estimated that from medium to long term, outcomes of various impending structural changes in broking industry provides an outlook and potential of discount broking for building a crucial bearing on broking capability.
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Ankur Gupta, Head Marketing & Communications