We are a group of 5 small shopkeepers who earn a decent income and also play fantasy cricket full-time. We want to diversify our investments and start investing in the stock market on a long-term basis. One of our relatives is a good trader and we plan to hire him to manage our investments. We intend to create a private company and hire stock analysts to analyze stocks. However, we are not sure if we need an NBFC license for this type of business or what kind of company it would be classified as. We are seeking guidance from experts in this field to clarify our doubts and help us make informed decisions.
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i don’t have knowledge in this area, but i think you should do following things.
Start SIP & focus on your business. (if u don’t have enough knowledge of stock market, go to mutual fund & relax.)
before hiring your relative (who claim as good trader) check his PL statement.
better trade in individual a/c than firm.
i’m saying this because acche traders har jagah milte hai,
par profit kamanewala nahi milta.