"We trust that you will avoid using harsh language and will refrain from making unsubstantiated allegations against individuals and firms. Your constructive feedback and opinions are very valuable to all of us in the industry. "
What will be the registering criteria of SEBI while granting Registered License to Financial Advisor in regard to qualification, minimum experience in the field, etc. Finally, the yearly fee with renewal or one time registration fee, please elucidate.
MF Utility will be a large change in the industry and it will ensure that paperwork goes down, though there is some implications on income and a marginal impact due to direct. We believe it must ideally be open to advisors only though SEBI has decided otherwise. This will only increase mis -selling as entry barriers are low and in fact non - existent. Just like in stock market industry all buys and trx have to be done thru. stock exchange broker. Hope SEBI listens for the sake of the industry. without incentivisation the industry will not grow as it must.
Of course, my view is by and large in line with other fellow IFAs. And I do believe that MF Utility is a double edged sword. As rightly said above in "Impact of Direct Plans" that it is an issue that IFAs will have to live with, unwillingly for sure.