How are RKSV’s fees so low?
Low Overhead Costs
RKSV attempts to keep its fees low by keeping its overhead costs low. This includes having a centralized customer support staff at our Mumbai headquartered office, not having relationship managers and instead providing excellent support over phone, email and an almost real-time ticketing system that allows customer queries to be resolved instantaneously.
One centralized operation
Unlike other brokers, RKSV drastically cuts its costs and fees by only having one centralized office in the Bandra Kurla Complex in Mumbai. This allows us the flexibility of keeping our overhead fees low by not having to worry about unnecessary costs associated with opening branches.
We do not provide tips
While other brokers provide tips and advisory services, RKSV believes in not having conflicts of interest; therefore, we do not provide tips to our customers on what stocks to buy or sell. If our customers wish to get tips, there are many tip providers in India that do so in a cost effective manner. This automatically eliminates any conflict of interest while also keeping our overhead fees low.
We do not provide any RM (relationship manager) service, even in Mumbai
Relationship managers at other brokers are responsible for hand-holding the customer and helping them open their account, and afterward, answer their questions. However, as with tips, a serious conflict of interest arises: is the RM genuinely looking out for the customer’s best interests, or is he simply trying to generate as many accounts as possible? RKSV eliminates this dilemma by not providing relationship managers. Instead, through leveraging technology (and doing In-Person-Verification’s through webcam) and providing excellent customer service, we have found that a relationship manager is not required. In fact, by having a centralized customer support desk, our customers have reported that their queries are answered in a more prompt with RKSV versus other brokers.
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