Impact of Technology on Authorised Partners

Technology has revolutionised the way Authorised Partners reach out to new clients. With the advent of accessible video-calling technology and reliably fast internet speeds, Authorised Partners can now acquire clients on the go or from the comfort of their homes without the need to meet in person.

Rapid technological advancements have transformed various aspects of our lives, including how investors conduct trades. From investors and brokers to Authorised Partners, all parts of the trading ecosystem have been impacted by technology. This has changed the way trades are conducted, and the business of Authorised Partner business has also changed drastically.

Here’s how technology has impacted Authorised Partner business:

Client Acquisition

Technology has changed the way Authorised Partners reach out to new clients. With accessible video-calling technology and reliably fast internet speeds, Authorised Partners can now acquire clients on the go or from the comfort of their homes without the need to meet in person. This majorly solves the issue of time management as Authorised Partners can meet more clients in a day compared to earlier. Technology has helped Authorised Partners gain more clients in a shorter time frame.

Client Activation

Authorised Partners are responsible for client activation and can earn only once the client starts trading. Not all clients who are acquired by the Authorised Partner can trade independently, which is where the client activation aspect of an Authorised Partner comes in. Traditionally, the process of client activation happened in the Authorised Partner’s office, where he/she would guide investors on how to conduct trades. Technology such as video conferencing has completely changed client activation, as Authorised Partners can now video call clients and explain the various processes of investment and trading.

Authorised Partners can also conduct training sessions for multiple clients at once to assist them in starting trading and investments. The virtual client activation process is helpful because it enables clients to follow up with queries without having to visit the Authorised Partner physically to get answers.

Client Servicing

The last leg of the Authorised Partner’s work is the process of client servicing. Authorised Partners can now digitally track all the trading deals and commissions of the clients using back-office management software. If clients begin to lose interest in trading, the Authorised Partner can check their trading process and offer them better facilities to get them going again. Mobile trading apps also aid clients in trading from anywhere. Since Authorised Partners earn a commission on each trade that clients make, these devices increase their chances of earning more.

Impact of Technology on Profit

As trading has become easier with new technology, more and more people are interested in maximising their gains by investing in the market. This rise in interest translates into more clients for Authorised Partners, who can help them reach the right broker. Many apps that provide stock-broking services also have refer-and-earn programs that offer Authorised Partners an opportunity to grow their profits by onboarding more and more clients.

Here’s how technology has impacted the relationship between stock brokers and Authorised Partners:

Financial Training

Authorised Partners can enhance their skill set by learning from stock brokers and becoming more well-versed in the technicalities of the market. Technology makes this learning process easier as Authorised Partners can reach out to stock brokers digitally to ask questions and get answers to queries. Recorded videos can also act as televisual aids to train Authorised Partners about new products and services offered by the brokerage house.

Convenient Tracking

Authorised Partners earn money on each transaction that the broker conducts for the client. For Authorised Partners who have a wide network of clients, keeping track of so many transactions is tough. However, technology in the form of partner portals has simplified this task. The portal gives the Authorised Partner access to details of the brokerage generated by clients and helps track commission earnings.

Digital Marketing Support

Authorised Partners are provided full support by the stock broker vis-a-vis digital marketing. Technology enables Authorised Partners to reach new prospective clients, benefitting both the partner and the stockbroker, effectively strengthening their relationship.

Webinars

Seminars have traditionally been an effective tool deployed by stock brokers to reach out to people. Now, this has become much more convenient with easy broadcasting technology such as live streaming through social media platforms. Authorised Partners can benefit by inviting their clients to these webinars.

Conclusion

Technological advancements have changed the way trading is done. These changes have, in turn, transformed the relationship between stockbrokers, Authorised Partners, and clients. The ease and convenience offered by modern-day technology have made the processes of the Authorised Partner’s business easier and have encouraged more people to enter the world of trading.