How to Become a Mutual Fund Agent? (Complete Procedure)

You would have come across Life Insurance Agents and Mutual Fund Agents who usually try and sell you the Life Insurance or Mutual Funds. Did you ever get a chance to speak to them about the earning potential of their profession? If you don’t know about the earning potential of such agents then you must know that these Mutual Fund Agents and Life Insurance Agents earn handsomely. The commission that they receive for sales is based on the percentage of the total sales volume.

With a large client base, the earnings can multiply and they also receive a lot of incentives for meeting certain targets. If you are also trying to explore this as a full-time or part-time job opportunity then you are at the right place as we have listed all the information about what it takes to become an authorized mutual fund agent.

In this article, we are going to discuss the eligibility and prospects of the profession. We will also share some insights on the salary that a Mutual Fund Agent makes.

The most important part here is the eligibility. You need to be eligible to become a Mutual Fund Agent and the next section talks about the eligibility criteria to become a Mutual Fund Agent.

Mutual Fund Agent

Eligibility for Becoming Mutual Fund Agent

  • Age – The minimum age of the candidate should be 18 years. A candidate less than 18 years of age can’t apply for the programs and there is no upper age limit for becoming a mutual fund agent.
  • Minimum Educational Qualification – The candidate should have completed Class XII from a recognized board. Alternatively, the candidate can also complete Class X & a 3 Year Diploma Course from a recognized university to become a mutual fund agent. It would be beneficial for the candidate to hold a degree in finance or economics as this would be needed during the professional engagements.
  • Certification – It is mandatory for the candidate to obtain NISM Series VA Mutual Fund Distributor Certification from a recognized institute. In addition to this, the candidate must also obtain a registration number from AMFI (Association of Mutual Funds in India).

This was the eligibility criteria but along with meeting the eligibility criteria, there are certain skills required which the candidate must meet in order to be able to work as a Mutual Fund Agent. Possessing these skills will ensure that the candidate is not a misfit and he enjoys his work. These skills are listed below

Skills Required to Become Mutual Fund Agent

  • The candidate should have strong analytical and logical skills and he should also have knowledge about the financial markets.
  • The candidate should have knowledge of portfolio management along with the knowledge of wealth management.
  • The candidate should be able to check credit appraisal and should have knowledge of ratings.
  • The candidate must also be able to identify risk and he should also be able to work with multiple clients.
  • The candidate must have good communication skills as he would have to work with clients.

Becoming a Mutual Fund Agent

  • Once the candidate is ready to become a Mutual Fund Agent, the candidate should apply for the exam that is conducted by the National Institute of Security Market. There is a specific exam for VA Mutual Fund Distribution Certificate and it is mandatory to clear the exam to apply for the next step.
  • In this next step, the candidate needs to appear in the NISM VA Certification Exam. The candidate can also seek help from training institutes as these training institutes will not only help the candidates in preparing for the exam but it would also help the candidate in filling the form and other things.
  • Once the candidate clears the exam, the candidate will be able to search for jobs and apply for the jobs as a Mutual Fund Agent. The candidate can also go ahead and partner with the fund houses and work as a standalone agent.

Training Institutes & Exams for becoming a Mutual Fund Agent.

There are many institutes that can help you in becoming a mutual fund agent. Some of the best ones are listed below

  • Ahmedabad
    • The Greed N Fear – Institute of Technical Analysis
  • Bangalore
    • Focus Educare Private Limited
    • Stock Market Institute
  • Hyderabad
    • Datta Institute for Stock Market Education
  • Kochi
    • CSE Institute of Capital Market
  • Mumbai
    • Equity Analysis Inc.
    • Kunj Bihari S Goyal Online Academy for Learning and Development
    • Sydenham College of Commerce and Economics
  • New Delhi
    • Institute of Career in Financial Market
    • Jain Arbitrage Destination
    • New Era Institute of Professional Studies (NIPS)
  • Pune
    • Dalal Street Investor Academy
  • Vizag
    • Forex Keys (VJS Academy)

These are some of the institutes and the different exams available for mutual fund agents are

  • AMFI Mutual Fund Module
  • CIEL Refresher Course on Mutual Funds
  • IICM Refresher Course on Mutual Funds
  • NISM Series V(a): Mutual Fund Distributors Certificate Examination
  • NISM Series V(a): Mutual Fund Distributors Continuing Professional Education


Talking about the earnings, you can earn anywhere over and above Rs 40,000 with 2 years of experience but this is highly subjective as this depends on your skills and the time that you wish to dedicate in this profession. The earning can multiple with experience and knowledge. This was all about becoming a Mutual Fund Agent. You can get in touch with the Institute for more information.