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Investing in mutual funds has become one of the most popular ways to grow wealth in India. But choosing the right mutual fund distributor is crucial for a safe and guided investment journey. Below is a list of the top 10 SEBI-registered mutual fund distributors in India you can trust, along with an overview of how mutual fund distribution works and how to get registered.
Understanding the Distribution of Mutual Funds in India
The distribution of mutual funds in India refers to the process of offering mutual fund schemes to investors through authorized intermediaries. These intermediaries, known as mutual fund distributors (MFDs), help investors make informed choices, handle documentation, and offer after-sales support.
Mutual fund distributors must be registered with the Securities and Exchange Board of India (SEBI) and hold an ARN (AMFI Registration Number) issued by AMFI (Association of Mutual Funds in India).
Top 10 SEBI-Registered Mutual Fund Distributors in India
1. NJ India Invest
One of India’s largest mutual fund distributors, NJ India offers a wide network of financial advisors and a strong digital platform.
2. ICICI Direct
Backed by ICICI Securities, it provides a user-friendly portal for mutual fund investments, SIPs, and financial planning.
3. HDFC Securities
A trusted name offering a wide range of mutual fund options, research tools, and financial advice under one platform.
4. Zerodha Coin
Zerodha Coin allows investors to buy direct mutual funds with zero commission through an intuitive online platform.
5. Groww
An emerging fintech platform with a mobile-first approach, Groww offers a seamless experience for mutual fund investors.
6. Upstox
Upstox not only offers stock trading but also facilitates direct mutual fund investments with useful insights and analytics.
7. Axis Direct
An extension of Axis Bank, this distributor offers tailored mutual fund portfolios and research-backed recommendations.
8. Paytm Money
With its reach and digital convenience, Paytm Money has become a preferred distributor among millennials and new investors.
9. FundsIndia
FundsIndia provides expert-curated investment plans, family accounts, and financial advisory services.
10. Scripbox
A goal-based mutual fund investment platform, Scripbox is known for its automated planning and transparent fee structure.
Why SEBI Registration Matters
Being SEBI-registered ensures that a mutual fund distributor adheres to all compliance and regulatory guidelines. This protects investors from fraud and guarantees professionalism in handling investment portfolios.
How to Become a Mutual Fund Distributor in India
Step 1: Get Certified by NISM
Clear the NISM-Series V-A: Mutual Fund Distributors Certification Examination, a mandatory requirement set by SEBI.
Step 2: Apply for ARN
After passing the NISM exam, apply for an ARN (AMFI Registration Number) from AMFI.
Step 3: Complete Mutual Fund Distributor Registration
Register with AMFI by submitting the application form, documents, and fees. This process completes your mutual fund distributor registration.
Step 4: Tie-up with AMCs
Enter distribution agreements with Asset Management Companies (AMCs) to sell their mutual fund schemes.
Conclusion
Choosing a reliable and SEBI-registered mutual fund distributor is key to ensuring a smooth and secure investment journey. Whether you are a new investor or planning to become a distributor yourself, understanding the distribution of mutual funds in India and following proper mutual fund distributor registration procedures is essential for long-term success.

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