Step-1: Pass the NISM-Series V-A: Mutual Fund Distributors certification examination.
It is a mandatory requirement to qualify for the NISM-Series V-A Mutual Fund distributor certification examination to become a mutual fund distributor. The National Institute of the Securities market conducts the examination. The main motive of this examination is to ensure that the distributor has fundamental knowledge about the mutual fund. The validity of the certifications is three years from the date of clearing the exam.
Step-2: Complete the KYD (Know your Distributor) process for mutual fund distribution.
The individuals will have to submit their applications for registration with AMFI, along with the KYD application. KYD application along with the requisite documents could be submitted at any of the CAMS POS., a list of which is available at www.amfiindia.com or www.camsonline.com. The distributors are required to produce, in person, the original documents for over-the-counter verification at the time of submission of their applications along with self-attested photocopies of the same.
Step-3: Get the AMFI Registration Number (ARN)
The AMFI Registration Number (ARN) has been introduced as the unique code, which identifies the individual distributor as AMFI Registered Mutual Fund Distributor (ARMFD).
Once the NISM exam is cleared, then you have to apply for the AMFI Registration Number (ARN). It is a unique code, or we can say a unique ID of every mutual fund distributor. Along with the ARN Number, candidates will also get an Employee Unique Identity Number (EUIN). The process of getting ARN is completely online and the same can be accessed here.
A photo identity card bearing a unique ARN, address, his/ her name, photo, and the validity period of ARN, would be issued to individual applicants.
Step-4: Empanel with UTI Mutual Funds
After availing of the AMFI Registration Number (ARN), you need to get empanelled with UTI mutual fund to start the business.Get Empanelled