How to be a unit trust agent?, example, public mutual
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 Feb 13 2012, 06:01 PM
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#1
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as an agent, if himself is the only "client", is that a problem if he also hit min RM30K per year? if his only client purchases RM20K in Jan, repurchases all in May, and purchases again RM20K in June, then repurchases all again in Dec, now balance 0 fund, can I say that the agent also hit RM40K for that year? Thanks.
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Feb 20 2012, 12:54 PM
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#2
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QUOTE(wongmunkeong @ Feb 13 2012, 07:21 PM) Format a bit yar, see if i get U right: yes, you rephrased my question 1 correctly 1. If agent is the ONLY "client" himself, does he meet PM's sales quota if he also hit min RM30K equity sales per year? No idea - i'm poking my upline heheh - worse case if no one here knows, i'll buzz Agent Services  2. If agent's only client (ie. assuming not case 1. above) a. purchases RM20K equities in Jan, b. redeems all in May c. purchases again RM20K equities in June d. redeems all again in Dec e. now balance 0 fund, can I say that the agent also hit RM40K for that year? Yup, coz for all the client's purchases, he / she has to pay FULL service charge of 5.5% (cash) or 3% (EPF). Hey, PM's in it for the $ not doing it "for love", thus the "quota"  Note - i assUme that U mean redeem, as in sell back to Public Mutual, NOT SWITCH from Equity to Bond then back to Equity. IMHO - not too smart lor doing this. Better to SWITCH back/forth, saving % when getting back into equity funds. Just a thought    so, when u talked about switching, does it mean switch it to Bond Fund only? But how about funds that purchased with EPF? Which fund to switch if Equity(EPF) is not doing well? Thanks Added on February 20, 2012, 12:55 pm QUOTE(felixwang @ Feb 13 2012, 07:47 PM) Yes, and yes! sounds cool   Added on February 20, 2012, 12:56 pm QUOTE(kparam77 @ Feb 13 2012, 08:49 PM) yes, u hit the target, but not wisely as wong said. ya, got it  Added on February 20, 2012, 12:58 pm QUOTE(techie.opinion @ Feb 13 2012, 09:08 PM) There would be 3% charges from the total amount transacted. Client already paid 3% or 5.5% when purchased the funds, why still need to pay 3%?  This post has been edited by mars1069: Feb 20 2012, 12:58 PM |
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Feb 21 2012, 01:15 PM
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#3
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2,207 posts Joined: Aug 2008
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ok, thanks for your explanation. so far i never switched my funds, i only repurchased all when it met my target, example 50% return in 2 years for my PISSF, money back to EPF. Just wondering, if this happens to a PM Consultant, is it ok for him to repurchase funds instead of switching since he already saved the 3% or 5.5%?
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Feb 27 2012, 09:05 AM
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#4
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QUOTE(gark @ Feb 21 2012, 01:25 PM) Still got a lot of people want to be UT agent meh? I though it is like a sunset industry soon, like Remisers... As an UT agent, he can save the admin fee for his own investment as long as he meets yearly quota, not necessary be the full time but part time will do. Instead of giving ppl to earn the admin fee, why dun he earns/saves his own admin fee?  In most developed countries, Unit Trust agents are more or less extinct already... and the 'advisory' service has morph into IFA mostly..  Once more and more online fund purchasing comes online, UT agent susah mau cari makan already... and dun forget a lot of ppl still dunno online thing, u ask them to purchase online they also dunno how to do that, so this group of ppl still need an UT agent  |
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Mar 2 2012, 01:10 PM
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#5
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QUOTE(andrewleewaikeong @ Mar 1 2012, 11:20 PM) ya accepted d , ya UP TO only , wont reach de la~~ hahaha up to is hard to say coz it depends on commission but mind to share the min wages? as long got the basic high to survive sin lor |
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Nov 8 2012, 03:03 PM
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#6
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QUOTE(doneright @ Nov 8 2012, 11:30 AM) invest first, then take exam when you can afford. after get license, transfer the investment from that agent to your name just wondering, let say I'm a PM Agent now, before I became PM Agent, I have bought few funds from other agents. By transferring my old funds under my Agent code, will I benefit anything from these old funds? Coz thinking the other agents had earned commission when I purchased from them few years ago...so wonder what will I gain by transferring old fund under my code. Thanks. |
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Nov 9 2012, 09:48 AM
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#7
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QUOTE(wongmunkeong @ Nov 8 2012, 08:13 PM) IF your funds with the other agent is high in amount, U are losing out on substantial "career benefits". I see, means Agent will gain 0.2% in overall funds that under his account? That's good. Thanks.If i'm not mistaken, agent gets 0.2%pa on all equities / loaded units' value held by their customers. Thus if one invested with oneself as agent, that accounts to the pile of moolah. eg. for every $100K equities / loaded units value i invested by self (customer me, agent me), i get $200pa effectively. Please poke your upline for more details |
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