Can an LIC agent become a mutual fund distributor?

Common Attributes of LIC & Mutual Fund Distributors

In plain words, YES. An LIC agent can become and prove to be a successful mutual fund distributor. As an LIC agent, if you have been wondering whether you can become a mutual fund distributor as well, then this article is for you. If you are curious to know if there are any regulations or restrictions preventing someone from holding both positions or if there are any additional qualifications or certifications required to become a mutual fund distributor, then read on.

6 Common Attributes of LIC & Mutual Fund Distributors

  1. Nature & Meaning: On one hand, life insurance offers protection to the policyholder’s family in case of his/her untimely death. Mutual Funds, on the other hand, are a type of financial instrument created by a pool of investments to build wealth and help the investor in meeting financial needs.

  2. A rewarding & satisfying career: In both these roles, the driving motive is always to help investors realise their aspirations by fulfilling their financial needs. As an LIC agent as well as a Mutual Fund distributor, the career is quite fulfilling in terms of both, remuneration and job satisfaction.

  3. Autonomy & Independence: As an LIC agent as well as a Mutual Fund distributor, you will work like a true entrepreneur. You will be someone with the real freedom to be one’s boss. You will work for yourself, select your clients, and build and make money proportionate to your efforts.

  4. Accreditation & Certification: You need an accredited certification by IRDAI to become an LIC Agent. Whereas, you need an NISM Certification to obtain an ARN for dealing with mutual funds as a mutual fund distributor.

  5. First-rate training & support: Just like how LIC provides training to make a successful LIC Agent, Mutual Fund distributors are also equipped with all the material by one of the leading platforms like NJ Wealth, to prepare for and pass NISM exams. They are also given training to enhance soft skills for sales and marketing support to amplify their reach and business.

  6. Bigger Picture: Both LIC and mutual fund distributors guide their clients to see beyond the present and prepare for the future. Their guidance and services make a huge impact on the financial well-being of their clients and associates.

How an LIC agent can become a mutual fund distributor?

An LIC agent can easily become a mutual fund distributor in India, by applying for and clearing the NISM VA examination and obtaining an ARN. Although the process sounds simple, one might need assistance and support in finding the right resources, preparing and clearing the exam. Even after obtaining an ARN, a mutual fund distributor must set his business right, with apt skills and resources. To facilitate all their needs under one umbrella, NJ Wealth provides all the pre-exam resources along with sales and marketing support post-exam. 

Being an LIC Agent when you also become a Mutual Fund Distributor, you add significant value propositions for your offerings. Earlier, you only offered products that brought financial security to the lives of your clients, now you can offer products that will give them substantial returns in the long term.

If you are reading this as an LIC Agent, then this is your opportunity to get in touch with NJ Wealth and become a Mutual Fund distributor as well.