Empanelment Process

Complete guide to Wealthy partner empanelment — requirements, fees, step-by-step process for ARN and non-ARN partners.

Requirements

  • ARN (AMFI Registration Number) — Mandatory for MF distribution
  • Pass NISM Series V-A exam (or qualify for grandfathering)
  • Minimum age: 18 years
  • Minimum qualification: 10+2 (HSC) or equivalent

Note: Partners without ARN can still empanel and start with insurance, bonds, PMS, and AIF while preparing for NISM.

Empanelment Fees

Partner Type Fee GST (18%) Total
ARN Holders ₹1,999 ₹359.82 ₹2,358.82
Non-ARN ₹3,999 ₹719.82 ₹4,718.82

Non-ARN Fee Breakdown

Component Amount
NISM exam booking (1st attempt) ₹1,500
Training & materials ₹500
Platform fee ₹1,999
GST (18%) ₹718.82
Total ₹4,718.82

Note: ARN registration fees (₹3,000 + GST) are paid directly to AMFI by the partner — this is separate from empanelment.

Platform Fee Refund Policy

  • Refund amount: ₹1,999 (10% TDS applicable)
  • Eligibility window: 180 days from empanelment fee payment
  • Refund release: 2 months after meeting business criteria
  • Applies to: Both ARN and Non-ARN partners

Business Criteria (meet ANY ONE)

Criteria Target
Equity MF Lumpsum ₹25,00,000
Equity MF SIP ₹50,000
PMS ₹50,00,000
AIF ₹1,00,00,000
Insurance (Health + Life) ₹50,000
Fixed Deposit ₹10,00,000
Equity MF SIP + Lumpsum ₹25,000 + ₹10,00,000

Step-by-Step Process

For ARN Holders (Start Immediately)

  1. Download the Partner App
  2. Sign up and complete KYC
  3. Add bank details
  4. Add GST number (if applicable — not mandatory)
  5. Attach your existing ARN
  6. Pay ₹1,999 + GST
  7. Start business immediately!

For Non-ARN Partners (4-5 Weeks)

  1. Download the Partner App
  2. Sign up and complete KYC
  3. Add bank details
  4. Add GST number (if applicable — not mandatory)
  5. Pay ₹3,999 + GST
  6. RM assists with NISM exam registration
  7. Complete NISM training (live sessions 7–9 PM)
  8. Clear NISM Series V-A exam
  9. Apply for ARN on AMFI (RM assists)
  10. ARN received in 7-10 working days
  11. Attach ARN to Wealthy profile
  12. Start MF business!

Typical timeline for non-ARN: Week 1-2: NISM prep → Week 3: Exam → Week 4: ARN application → Week 5: Start business

GST for Empanelment

  • GST is NOT mandatory for empanelment
  • Applies to both Individual and Non-Individual partners
  • Partners can add their GST number later if they get one
  • If partner has GST, commissions show GST separately

Proposal Restrictions (Non-ARN Partners)

Partners without a valid ARN linked to their profile cannot create:

  • SIP, STP, SWP proposals
  • One-time transaction proposals
  • Tracker/Internal switch proposals

Still allowed: Pause/Edit/Cancel SIP/STP/SWP, mandate operations, withdrawals, goal merge, Demat proposals, Wealthcase proposals.

This restriction applies to all employees under an office owner — employee access depends on whether the office owner has a valid ARN.

Key Objection Handles

“Why should I pay platform fees?” → Platform fee is refundable within 180 days. You get a Growth Kit worth ₹5,000, AI-powered platform that big firms pay lakhs for, and a dedicated RM. Experience it first with a demo.

“How long to start?” → ARN holders: Immediately! Non-ARN: 4-5 weeks including NISM prep and exam.

“Can I leave Wealthy later?” → Yes. NOC provided, smooth transition, no lock-in, no hidden conditions.