I appreciate the efforts done by United forum. But this is bag slap for those who still feel that anything good may happen, which will save the fate of distributors/advisors. "We should worry more about the investors than about those doing business of mutual fund distribution. Globally, the mutual fund is moving towards direct buying. Anyway, IFAs account for less than ten per cent of mutual fund industrys asset under management," Sebi Chairman U K Sinha said here today. By the way, those who are trying on Robo advisory are something, SEBI is already planned for it. Will be launching its own platform very soon. "Guys SEBI ne taboot me akhiri keel bhi thok di hamari umeedo pe" Read more at: http://economictimes.indiatimes.com/articleshow/52434785.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Highly appreciable efforts by United Forum & Mr. mehta. Thanks for the foot work and let us hope for best result. We agree this time IFA raised their voice jointly and hence forth all IFAs of country be together and care for their future. Thanks

Excellent Efforts from United Forum & FIAI. Thanks a lot Mr. Dhruv for raising our Voice. More & more challenges are coming in our business. So Now it is highly necessary for all IFA Associations to unite more strongly under banner of United Forum.

Dear Mr Mehta, excellent work done by you people. All arguments are logical, sensible and fact based. But if one thinks that SEBI has suo-moto taken this decision, then its highly misplaced. This regulation regarding the disclosures is a result of infighting between T-7 AMCs and B-7 AMCs for remunerating ever greedy Distributors for mobilising fresh investments in their schemes. Further Regulators all over the world responds only to lobbying - weather by Money bags (Business gropus) or Head Counts (Vote Banks), no suo - moto regulations for public interest.

To the point. Precise. Crisp. Time for SEBI to act.

It is really appreciable that views in the article are very constructive and will be honoured by every authority concerned

Very justified and balanced point raised and answered by Mr. Mehta on behalf of all IFAs and other distribution fraternity. Lets hope and pray for the best.

Excellent Efforts Dhruvbhai & Team. You have collated the ideas from all the constituents of the UNITED FORUM and painstakingly put them together in an orderly yet simple format. Would like to see all IFAs together under ONE umbrella so that all concerned will take us seriously and be willing to listen, consult and work with us. The only hope is the message should reach and be understood by the people who take decisions affecting lakhs of people.

Very well drafted & pinpointing representation by Shri Dhruv Mehta. Hats off to him & all IFA community for uniting together & making such a strong presence.

When the all expenses are borned by retail investors ,why direct plan was introduced in same fund it should be removed to get the best response of same fund.comission disclosure have baseless proposal to differentiate between investor &Ifa.

Good work Dinesh kedia vmA5Gh

We are united & we will remain united. This is not the end. We have to maintain our unity to face such kind of chalanges in the coming time too. Great effort. NDs and banks also joining the IFA associatons! Congrats to FIFA.

Great and really appreciable and first time unity shows by mf advisors Joint representation may result We are hopeful . Ca thukral

Great. I was in Kerala State Electricity Board. We have a regulator "Electricity Regulatory Commission" Some past members and one present member are my friends. Before issuing an order, they hear all stake holders and decide only considering merits of all aspects. I think SEBI, Capital Market Regulator also is legally bound to function in the same way. Let us jointly fight.

Great sir.... good article

very true. congrats to FIFA & Joint forum.

Extremely well articulated, logical and to the point. Kudos to all FIFA members who have devoted their time and effort towards the common cause of putting the United front.

Very perfect point to point representation. Hope regulators will take this in true professional spirit. Thanks a lot.

We are very concerned about our investors money. So it is important to follow a consultative approach rather than coming out with regulatory changes every now and then. Dear authorities, Pls consider our points , please give us a patient hearing, what we want to communicate can be a better and realistic approach.

Thanks United Forum Team & Mr Dhruv for this valuable information . All IFAs must be aware of the happening around us.We are very happy and sure that our regulator is doing everything possible to safeguard the interest of investors. As IFAs we have a real right to be consulted before any of the new regulations come into force. The background at various nations has to be studied before copying the moves of other countrys regulator. Give some time to cope up with existing sytems, later pls come up with a consultative approach before implementing new regulations . Ground level reality is that managing investors behavior to stay long enough tenures is not as easy as people think.

Congratulation to FIFA chairman Dhruv Mehta for his article and also congratulation united forum of all 32 IFA Association along with bank for united action against commission disclosure for smooth business of MF which is much helpful for retail investor.

Great sir...hope SEBI will think serieusly on above point...weldone sir

Extremely well articulated, logical and to the point. Kudos to all FIFA members who have devoted their time and effort towards the common cause of putting the United front.

This is a great effort. NDs and banks also joining the IFA associations! An interesting development , given that the business models inherently being drastically different. Why an alternate solution is not proposed instead of saying no to disclosures? If disclosure is not done , an act that will alleviate the disclosures is needed for example : Uniform commissions for similar kind of schemes, uniform commissions for all advisers, and uniform commissions for all distributors. When the AMC had its own interest in selling the direct plan , is it not imperative to account for the distribution cost as a fixed component ? Why shall an AMCs have control on the distribution remuneration at all? These are all important issues which have to be settled as part of this disclosure , as all these issues when fixed , perhaps , we would need no disclosure.

Its a very professional way to approach SEBI, many congratulations to FIFA for this effort. I hope SEBI will also behave professionally.

Thks to the United Forum for taken this effort of uniting the various associations and having worked out this write up for the regulators....Thks to all the IFAs and their associations to be a part of the unification movement..

Commission disclosure has thrown up an opportunity to unite all forums and has taken this even to the door steps of MoF. We must use this opportunity to set right a few more anomalies like service tax - a way has to be found to make the user of the service pay it- otherwise it will drive many out of business as total out flow for an IFA practicing for over 10 years can be as high as 40% of income which is already capped. The rule books of SEBI for IFA s must be rewritten with clear long term vision. Well done and hope the industry reinvents itself for the betterment of all stke holders.

this is an excellan t presentation on commission display. i think sebi should give a proper thoughts to thhis presentation.

Consultative. Democratic. Transparent. Mr Mehta has made a very measured and clear case for this on behalf of all of us. Thank you.

Very well written article sir. Lets hope the regulator sees some merit in it and comes on the table for constructive discussion.

WELL ARTICULATED ANALYSIS. HOPE THE OSTRICH LIKE & EGOISTIC ATTITUDE IS GIVEN A GO BY & MUCH REALISTIC SOLUTION DERIVED AT KEEPING IN MIND CONTRIBUTIONS OF ALL STAKEHOLDERS.

Very compelling & relevant arguments against commission disclosure. And well articulated. As always.

Excellent analysis Dhruv as always One point can also be mentioned about propagating Direct to a client who has already bought through a distributor. Cheaper is not always the best. Regards Amit

Thank you so much sir for all of this ! Appreciate it & very well done & nicely put forwarded your thoughts! Thanks again.

Thanks Dhruv for articulating IFA views. well researched, thoughtout. Thank you very much

I sincerely thank and appreciate FIFA chairman Mr Dhruv Mehta and the United Forum for throwing some logical questions before SEBI and the government. It wont be easy for the regulator to answer all the pertinent points raised by FIFA. It is high time SEBI made consultative approach with all the united forum and come out with an acceptable solution. It cantt act on its whims and fancies being an extended arms of the government. Sir, we all are united to combat this battle and seek justice before the authority till the end.

Very well researched. The three points are of immense importance and clearly stated. Hope this will help SEBI understand our view. Distriburors right to information is rightly depicted with the support of IOSCOs principal. Further, CAP on TER itself gives total transparency to the investor. Why is it necessary to give the break up of the same. This wont benefit the investor at all. The example of Distributor & RIA is also very effective wherein RIA enters into an agreement with client for its fees and distributor enters an agreement with AMC for its remuneration. Keep up Mr Dhruv and FIFA on the this front.

United forum is the best thing to happen to the IFA community till date. Thanks to all for taking up the issue with the finance ministry and SEBI and an excellently drafted response to SEBI. All the best

Great work by FIFA AND 1st time all IFA TOGETHER. Hope positive result

Weldon Dhruv & excellent team efforts of all distribution forums . Keep engaging the regulator and specially for point No.2

Excellent Dhruv as always precise and to the point. The most important thing that comes out of this is UNITY, united we stand, all associations are united and we now have a united voice, we will definitely be heard.

Thank you so much sir for all of this ! Appreciate it & very well done & nicely put forwarded your thoughts!

Great job,we will support.thks

Great eforts don by FIFA, Now focus on AMFIs Role & action

Weldon Sir , we r with u

Congratulation to Mr. Dhruv Mehta and team for come out with strong and to the point counter argument again SEBI rule. we all are with FIFA and united forum in this challenge.

I first of all congratulate our United response on this issue. it matters a lot to the regulatory context. Lets keep going.

The above submission is well researched and brings all the stake holders together to take a rational approach to the problem of disclosure of commission. Besides i would like to highlight that all the consumer products available in the markets have a MRP but nowhere they disclose how much the manufactrure earned or how much commission the distributor/retailer earned on the product. Why they dont print the commission earned on the product ?

der aye durust aye. Remain uNITED forever. There will be many challenges to face. This time we may win or not but unity we must maintain. Half the future battles are won if we remain united on all issues in future also.

EXCELLENT, I AGREE WITH YOUR VIEWS

Great opinion

Well done we will support you

Dear Sir, An excellent and well co-ordinated initiative. Hope SEBI understands the practical problems that will be faced us, as not the entire market and not all our clients are so mature. We are yet to go a very very long way to implement stringent rules. Let the entire investor community grow and mature. Regards, Meenakshi Sundaram

sir, well balanced & thoughtful representation. i only hope that wisdom will prevail on the regulator

Great dhruv sir. Its a wonderful and detailed analysis of the situation and very relevant to our market. May be SEBI revisit their decision....

Well done We support u.

Dhruv sir, Very effective article. Let the IFA community hope the positive and consultive approach from SEBI and STAKE HOLDER TOO. Regards.

THE GREAT EFFORTS BY FIFA, I DONT FEEL THERE IS ANY REGULATOR IN WORLD WHO IS COMING NEW REGULATION IN EVERY 3 MONTH. REGULATOR NA HUA QUARTERLY DISCLOSURE OF RESULT HO GAYA. I AM SURE THIS WILL CREATE A MILESTONE IN INDUSTRY. I HOPE SEBI FROM NOW ON WILL THINK 10 TIMES BEFORE TO COME WITH ANY REGULATION. KUDOS AND GREAT JOB DONE ALL.