| Name : Rajiv Jhaveri | City : MUMBAI |
| ARN NO : Jhaveri Investments | Date : 22 Apr 2015 |
| Comments : |
| Strong protest is necessary to oppose this regulation. Entire distribution community will be removed from the economy if this is implemented. Indirectly it can discourage habit of saving from majority of the population. |
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| Name : Rajesh Hattangady | City : Thane W |
| ARN NO : THiiNK | Date : 18 Apr 2015 |
| Comments : |
| 7:Investors in India have not got the habit for paying to an advisor for the services taken. This model is yet to gather pace.
If the investors deny paying fees, the so-called RIAs will not be able to recommend products. In the end the investor will end up making investments which he hears via tips from people. This again will lead to more mis-selling, investors taking wrong decisions. These indirectly would make investors loose faith on the system of investments. |
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| Name : Rajesh Hattangady | City : Thane W |
| ARN NO : THiiNK | Date : 18 Apr 2015 |
| Comments : |
| 4:All these steps are only taken to avoid mis-selling and protect the investors.Mis-sellers will find a way out to continue their crime like the leading MNC bank who was barred from selling and distributing products by sebi due to some legal issues created a quasi contract to continue the spoil sport.The agenda should be to get the root cause of mis-selling and remove it.5:Investors need end solutions.RIAs and Distributors are alien words.If these divisions were to be done, then whats the point in getting the KYDs,generating EUIN nos.
6:The std and quality of the advisor marketing different products should be raised.Advisor should be made competent to distribute products.Mandatory rules and compliance has to be followed for which SEBI coming up with simpler rules will help the cause of the distributors.
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| Name : Rajesh Hattangady | City : Thane W |
| ARN NO : THiiNK | Date : 18 Apr 2015 |
| Comments : |
| 1:RIAs providing advisory,cannot execute invts.If investors seek their invt status annually,RIAs become helpless bcoz registrars will not share investor details with RIAs and investors will not prefer running from 1 RIA to other to seek valuations even after paying the professional fees.This module can deter investors from entering into investments.
2:Clients today prefer 1 POS for all their product requirement.Investors would not be comfortable seeking advice from different agents for different products
3:The difference between the NAV of direct & Regular plan is marginally Rs 1 lac over the tenure of 25 years.
It appears more chindigiri and less professionalism for distributors to sit with a client annually and rather than discussing over important elements,they sit and calculate the differential amount saved by an investor and share profit from it.And why would an investor do that, its an RIA who is adding more value to his finances than a distributor. |
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| Name : Amol Chitale | City : Solapur |
| ARN NO : 30587 | Date : 18 Apr 2015 |
| Comments : |
| The Role of a Distributor (of financial products) Automatically INVOLVES ADVISING. SEBI is doing a Big Mistake by trying to separate these things. Any advisor can switch to a fee base model only when he/she has gathered a sufficient number of clients and has built trust.This takes a long time. SEBI is tinkering too much. I think SEBI must reach out to IFAs and sort issues by taking IFAs in confidence. |
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| Name : Rajag | City : Julandhar |
| ARN NO : WiseInvest | Date : 18 Apr 2015 |
| Comments : |
| If what all you have written is applicable , after such a long period as much as 2 years , SEBI/AMFI might have suspended the ARN codes of all those IFAs who have not followed the guidelines. The corollary is that the IRA guidelines have categorically exempted "ANY MUTUAL FUND DISTRIBUTOR". And there is no worry for the IFA to continue as they are doing now. |
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| Name : yfs | City : pune |
| ARN NO : arn-yfs | Date : 18 Apr 2015 |
| Comments : |
| Later it will be like equity MF distributor and debt MF distributor etc. One can have brokerage for single category only |
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| Name : Abhay Choudhari | City : Pune |
| ARN NO : 86764 | Date : 17 Apr 2015 |
| Comments : |
| This is for Mr. Vijay, Sir that means I should surrender other products as mutual funds is my main business, as there is no deadline can people continue to sell all products till such deadline emerges? will there be any penalty on the multi products distributor in that case? this is an issue of tremendous confusion...help needed on this...would be grateful Sir if you can clarify with SEBI guys as you are in that position....we cant get access to them...... |
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| Name : XYZ | City : XYZ |
| ARN NO : ARN-XYZ | Date : 17 Apr 2015 |
| Comments : |
| Sir, thanks for writing on his issue. In my opinion " For Consideration" is from client only, otherwise they would have used commission/brokerage from Manufacturer like words. So anyone who does this without consideration from client is not required to register. But as u said rightly its not water tight.
Secondly. they have said " expand activities to advise on other products " So advising is banned on all products including MFs, but if someone is selling these products but not advising is out of regulations.
If its not what I interpret its really bad..
Sir, is anyone or any of our representative organizations working on this ? We should raise our voice with regulators. This is again like changing rules of the game midway.
Lastly do corporate entities, brokers or banks come under these regulations ? Because everybody is selling multiple products ..
Is selling multiple products is not allowed or advising on any product is not allowed ? |
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| Name : AJMERA INVESTOR | City : Ahmedabad |
| ARN NO : 49639 | Date : 17 Apr 2015 |
| Comments : |
| Nice article. Very gud opportunities for those who r only distributing MFs & those who r only adviser. Multi product distribution will be stopped and specialization will be entered. dis is very good step as adviser will give business to insurance or mutual fund agents etc. Or he has to go online term plan, online direct plan of MF and online other products platform. MF distributors have now advantage as the demand of MF investment is increasing and there will be lesser number of distributors due to less earning. Clients will not get distributors and so the demand will be increased and theirs business wil be increased.
John Kennery was a shooter and met with an accident and he lost his best hand (right hand). He thought that I had only hand to become shooting champion. He never thought that I lost my best hand. He won gold medal in Olympics with his only hand.
SO friends, think what we have and dont think what we lost.............!!!! |
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| Name : Vijay Venkatram | City : Mumbai |
| ARN NO : Wealth Forum | Date : 17 Apr 2015 |
| Comments : |
| Dear Mr. Choudhari, from my understanding of the situation, since the FAQs came out on 27-Feb-2015 and they only seek to clarify a regulation that is 2 years old, there doesnt seem to be a case for a deadline in the future - it would appear that if you are a multi-product distributor, the faster you decide your preferred route, the better it would be for you. |
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| Name : sriram K | City : chennai |
| ARN NO : 19262 | Date : 17 Apr 2015 |
| Comments : |
| Sir,
This is Sriram k from Chennai I have doubt you saying that collect the fee from client. We will do that but after two three transaction the AMC sending the mail or by calling the client, invest in Direct code You will better yield, in this condition how you will charge the client. If not yes we will charge.
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| Name : Abhay Choudhari | City : Pune |
| ARN NO : 86764 | Date : 17 Apr 2015 |
| Comments : |
| Mr. Vijay if you are able to get more clarity from SEBI on this we will be thankful Sir to you, I called SEBI office in Mumbai but no one is responding there, can I get your mail -id? I want to understand is there are deadline for us to surrender our licenses to distribute life, health and corporate fd products in order to continue selling mutual funds as registering as an Investment Advisor with SEBI is not an option as of now.....people are not looking to pay fee for investment advice... |
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| Name : Nilesh KAMERKAR | City : Mumbai |
| ARN NO : 49016 | Date : 17 Apr 2015 |
| Comments : |
| MF distributors ought to stop cribbing like that abused wife, who keeps surviving in a miserable marriage while suffering daily at the hands of her useless alcoholic husband. There is no compulsion to sell mutual funds. There are other ways of earning a respectable livelihood. What stops honest and hardworking ARN holders from exploring other rewarding opportunities? |
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| Name : GOUTAM KARMAKAR | City : HOWRAH,W.B |
| ARN NO : 32814 | Date : 17 Apr 2015 |
| Comments : |
| All Mutual Fund Distributor across the INDIA should come together and raise the voice against the Regulator for their TUGHLUKI attitude against
us. Are we GINIPIG in Finance sector? All testing They(SEBI, AMFI) are doing on us. we need a strong movement and should reach at the parliament also |
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| Name : Sushma Mata | City : Mumbai |
| ARN NO : XXXXXX | Date : 17 Apr 2015 |
| Comments : |
| For Investment Advisory to work one of the most important thing is that Investment advisor should be selling Direct Plans to investors and RTA/AMCs should share the data of direct plans too with Investment Advisor. This way IA will not get any commission and Investor will be sure that 100% amount is getting invested. All the information required for advise will be available with advisor only once the data is shared with IA. Currently fund houses dont allow IAs to distribute direct plans. |
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| Name : yfs | City : PUNE |
| ARN NO : ARN-YFS | Date : 17 Apr 2015 |
| Comments : |
| eligibility of distributors as NISM does not speak a word of it, if was applicable for distributors why it was not mentioned in NISM or renewal
if distributor does not read RIA FAQ he wont come to know otherwise
if it is regulation related to distributors then it should come under Distributors information not under RIA,this is simple thing in compliance who is going to take responsibility of this non-compliance
Everyday there is news about regulation in mutual fund and atmosphere is made restless , are regulators not responsible for this
Strongly in favor of KNOW YOUR REGULATOR KYR and transparent process of regulation, do you think few people may be knowledgeable but have right to interfere in this way , and that too without consultation process
which other regulators have obstructed commission like this |
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| Name : jaideep | City : Mumbai |
| ARN NO : 81143 | Date : 17 Apr 2015 |
| Comments : |
| I am truly surprised that this anti IFA and anti MF stance comes from SEBI, headed by an ex MF honcho, Mr. Sinha. It seems SEBIs habit of tinkering with the MF industry has only one goal, putting IFAs out of business once and for all. It would not surprise me if they go after the RIAs next, stipulating commission limits, clawback and whatever else they claim is in the investors interest. SEBI has gone far beyond investor interest, it is actually now pushing restrictive trade practices. |
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| Name : Srikanth Matrubai | City : Bangalore |
| ARN NO : 51423 | Date : 17 Apr 2015 |
| Comments : |
| I wonder why SEBI is hell bent on killing the IFAs!
Why dont they look at Insurance where gross mis-selling is happening day-in and day-out?
What about the Banks who distribute multiple products?
SEBI is showing its might only to pygmies like IFAs.
Let them try the same with Insurance.
Even its very own foundation will start shaking!! |
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| Name : DB DESAI | City : KUDAL |
| ARN NO : 0234 | Date : 17 Apr 2015 |
| Comments : |
| If someone becomes subbroker/subagent/EUIN of a Corporate for mutual fund business and continue to do other business like Life/Gen insu, bonds etc. will that be compliant to the regulations? |
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| Name : Ramesh Bhat K | City : Chennai |
| ARN NO : Aniram | Date : 17 Apr 2015 |
| Comments : |
| Thanks Mr. Vijay for taking up this. I am continuously screaming about this since last 2 moths no one is bothered. All are worried about 14% when our 100% is in trouble. Since we have 4 partners I manged it. But think about a single IFA. |
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| Name : ARN YFS | City : PUNE |
| ARN NO : ARN YFS | Date : 17 Apr 2015 |
| Comments : |
| 1]is it legally correct, if someone is engaged in advisory of other product he becomes unfit as distributor ,
2]what is logic behind , cant take things because someone finds it right
3]if school teacher or any other professional is doing mutual fund distribution and advises no other financial product , is it correct according new FAQ ,is it not funny other professional activity is allowed but not related other financial products
4]why only couple of hundred are registered and most of them are Juggad as RIA,is it not poor performance by regulator
5]why such things are not put to discussion before putting them under rules
6] we need to regulation for regulators
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| Name : Abhay Choudhari | City : Pune |
| ARN NO : 86764 | Date : 17 Apr 2015 |
| Comments : |
| Can LIC agency be transferred to a friend....will I continue to get commissions on existing business of LIC? |
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| Name : Abhay Choudhari | City : Pune |
| ARN NO : 86764 | Date : 17 Apr 2015 |
| Comments : |
| Sir is there any deadline for this..when to surrender other things like Life and Health Insurance agencies to sell mutual funds.....its not easy to charge fees....better to sell only one product..where can I get further clarity on this? |
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| Name : Abhishek Rastogi | City : Meerut |
| ARN NO : 93796 | Date : 17 Apr 2015 |
| Comments : |
| They are making it difficult for fresher like me to survive, since people arent willing to pay for services in small towns. Regulators should think about IFAS. As they are the back bone of mutual fund industry or else this industry will coolapse badly. I literally doubt about there intentions, why they are so harsh on ifas. They should do something to stop misseling on insurance, but why they are putting so many hurdles in ifas model. Something wrong with regulators. |
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