As we know that one can partner with Angel broking to start companies like Minance,I would like to know whether zerodha has got this feature too.
If yes,then there are few basic questions -
- What is Minance?
- Can one become a Discretionary portfolio manager by partnering the way Minance has done with Angel Broking?
If yes,kindly reply with all the relevant necessary details (like (1)profit sharing between the portfolio manager and Zerodha AND (2)initial investments required to form companies like Minance)
Minance uses quant strategies based on mathematical models to invest your money(min 5 lacs) in equities on your behalf. They’ve partnered with Angel broking. The trading and demat account will be yours, the funds will be yours and they will invest and manage your portfolio for a fee.
This I think is equivalent to investment advise and you’ll require a SEBI approved RIA certificate to do any of this. Here’s the FAQ. The rest of the stuff is possible with Kite API’s but settting up such a thing would depend on whether the broker is keen on this.
P.S. Quant strategies usually succeed in a bull market only.
I was looking for some honest and straight forward information regarding the company called Minance.
All I know is they are sub brokers to Angel . And they go ahead telling people that they charge something like 20% on the profits they earn on clients’ money. Also they don’t share a dime of that with Angel.
Further, Minance does not own a SEBI registered portfolio management licence. How can they go on doing like this without SEBI authorization?
I’m unsure about this. But you need a SEBI approved RIA certificate to provide any type of advisory service. Maybe someone who knows this better can clarify.