Authorized Person (AP)
How to become an Authorized Person for Wealthy Broking — process, benefits, and higher incentive structure.
What is an Authorized Person?
An Authorized Person (AP) is appointed by a stockbroker (Wealthy Broking) to connect with clients, assist in onboarding, and provide trade-related support. AP status unlocks higher payouts and better incentives compared to Non-Authorised partners.
AP vs Non-AP Comparison
| Factor | Authorised Person | Non-Authorised Person |
|---|---|---|
| Revenue Sharing | Higher payouts | 35% of brokerage |
| Account Activation Incentive | ₹200 | ₹200 |
| ₹5K Margin Incentive | ₹400 | ₹0 |
| Total per Activated Account | Up to ₹600 | Up to ₹200 |
How to Become an AP
- Submit Documents — PAN, Aadhaar, qualification proof, address details
- Sign the Agreement — Review and sign the agreement provided by Wealthy
- Registration Assistance — Wealthy assists with getting your registration done from NSE
Benefits
- Higher revenue sharing on client brokerage
- ₹400 incentive per client who maintains ₹5K margin
- Better positioning to serve clients who want stocks alongside MFs
- Defend your client base from DIY platforms like Zerodha and Groww
Who Should Become an AP?
Any partner who wants to offer broking services alongside MFs and insurance. Particularly useful for partners whose clients are already trading stocks on other platforms.