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 have 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
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