Authorised persons charge a fee for the services they provide, called ‘brokerage’. Brokerage is a fee charged by the broker or authorised person per transaction made on the client’s behalf. The brokerage is usually a percentage amount, and the amount of clients dictate the number of transactions. Therefore, for optimum earnings, an Authorised Person should always:
Have a concrete plan to attract and retain clients- Pick a reliable broker or brokerage firm offering good commissions, can offer technical knowledge and training, have many different products to cater to different clients and their varied financial targets
Systematix offers generous commissions, resources and training, and has an impressive range of products on offer.
Other things to consider are the initial setup costs like the one-time registration fee to register the authorised person with the stock exchange, the deposit that the broker or brokerage firm will require, the costs involved to set up an office, and recurring costs to run and maintain an office like salaries and utility bills.