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THERE IS NO UNITY AMONG IFAS & NO ASSOCIATION.

As we started this bussinrss and left no stone unturned to educate clients now when our efferts seems in our favour the demons of the industries has come to smash our existence None other then we are responsible becouse we welcome every move of sebi for the sake of transperency They knew that technology will take place of distribouter s they slowly but steadily dogged the grave of us Question is how we can face that chellange ? We will finished like post office agents Still there is not a single plateform to unite distributers Even big name of industries havent file any litigations and fail to convey strong massage among us Time is running out just make a unique account to fight with this mammoth and as well as lobbing with industries use your influences Otherwise friends we will be no more!!!

The distributors dignity is at risk when commission is disclosed in A/c Stmt.

There is no any law to disclose the income of person in contituetion . its intention to finish IFA n make the client direct ..work must be done to bring new client not to churning of clients ...first sinha must disclose the salary of all sebi employees . we people do hard work to bring client ,

SEBI IS KNEE BENT ON THROWING THE BABY OUT WITH BATHWATER. IT IS BRINGING RETROGADE STEPS ONE AFTER OTHER. ON ONE HAND IT SPEAKS ABOUT BRINGING THE PEOPLE ON THE MARGINS UNDER MF & ON THE OTHER HAND DISCOURAGES THE INTERMEDIARY FROM DOING SO. IT IS BEHAVING LIKE A TYRANT MUCH AKIN TO AXING THE BRANCHES ON WHICH IT IS SITTING. AMFI IS BEHAVING AS IF IT HAS NO WILL TO STAND UP & BE COUNTED AS IRDA. LOOKING LONDON & TALKING TOKYO HAS BECOME THE HALLMARK OF SEBI AS FAR AS MF INDUSTRY IS CONCERNED & STRANGELY SINHA IS DOING ALL THIS DESPITE KNOWING THE PRACTICAL DIFFICULTIES THE DISTRIBUTORS FACE ON THE GROUND LEVEL, SINCE HIS UTI DAYS.

Yes sir. There is no association and unity among ourselves and so we are like fools on hands of the regulators

Please share your contact no & mail Id along with your post. If IFA ASSOCIATION does not do its duty then we have take the charge in our hand. After all it is the question of existence of whole IFA community.My contact no is 9062247352 & mailid prk475@gmail.com

AGREE WITH YOU

Protecting the investors interest does not mean depriving the IFAs of their livelihood . Now this has to presented in a legal format with facts and figures and prove that SEBI is over stepping their ambit of operation !!!!

EXCELLENT !

I am also ready to contribute if IFA association moves to court. wKILLING A COMMUNITY WITH THEIR ALL FAMILY MEMBERS IS A REAL INJUSTICE. SEBI HAS TAKEN FULL CHARGE TO MATERIALISE THAT FOR LAST FEW YEARS. WE HAVE TO FIGHT TO STOP IT LIGALLY.

IFA associations must take legal opinion and obtain stay order from court immediately. No other attempt is going to help. I am ready to contribute for legal expenses if any IFA association in any city will approach court for STAY ORDER against the so called investor-friendly move by the regulator.

This very vidictive move taken by Sebi just to harm IFA community. Its got something to do with past. Be transaprent SEBI

is FIFA doing anything..or dancing

Yes. I do agree Shrikant Matrubais view. Just one question I have that can govt. disclose on the insurance policy that insurance is not a means of savings or investment ? I mean if you want really disclose all facts about financial instruments , first do it with where maximum amount of a common investor is going. Then Govt. should also disclose what is their withdrawl amount from LIC & what is the utilisation of it ? .....HAI HIMMAT

YES..I am with MR. Srikanth Matrubai. When already direct plans are operating....this move of the regulatory is absolutely wrong. its seems that regulatory want no existence of IFA. its injustice to ifa fraternity. No other profession has to do such disclosure of income we must protest and go legal

I agree with you . Atleast these AMCs can fight with SEBI and inform the incentive structure should be displayed as percentage and not absolute.

Two comments - No AMC will dare to take any of the issues to Finance Ministry or SEBI very strongly because they all also have an insurance company - which is much larger. Our associations are just on paper - we have never bothered to form guidelines or best practices. We as group react to the changes that are thrown our way. this will be the same. Yes some changes may come - because banks will be hit hardest - maybe some good will come out of this - as IFA can open an account with a bank and get to know - how much banks are getting more than IFAs as commision

How illogical to disclose anybodys income to their client, why not there should be disclosure of income margin on the bill of petrol or on the packet of butter or on the bottle of cold drink. Its sheer nonsense and clear intentions to clean out the IFA fraternity from the market.

IF MR Srikanth Matrubai OR someone else bell the cat, i will support this. many good points discussed but action is missing.

The way things are moving, very soon there will no IFAs only Financial Planners which is what every body including AMCs want.This is my thinking and everything points to that. Even AMCs are canvassing direct plans aggressively.RECENTLY AN FMP OF MY CLIENT WAS SWITCHED TO ANOTHER SCHEME INSTEAD OF ROLLOVER THROUGH THE CONSENT LETTER. THE AMC TOOK IT UNDER DIRECT CODE.FORTUNATELY I CHECKED THE STATEMENT IN THE NICK OF TIME OR ELSE MY PAYOUT ETC WOULD HAVE GONE.......... THIS IS HOW AMC WORKS. GOD SAVE US.

THIS IS BASICALLY A CALL FROM ALL THE AMCS, ALL CEOS SEAT TOGETHER UNDERSTAND THE ENTIRE BUSINESS MODEL MORE DEEPLY, HAD A WORDS WITH SEBI AND GOVERNMENT, UNDERSTAND WHO WILL GET HOW MUCH IN 14 LAC CR. INDUSTRY AND FINALISE THE CALL THAT THEY DONT WANT IFA TO WORK ANYMORE. LETS HAVE ALL THE TRAIL AND OTHER EXPENSES IN THERE OWN KITTY. LETS GET SETTLE DOWN THE DUST AFTER 3 TO 4 YEARS AGAIN WHEN BUSINESS WILL NOT COME THEN THEY AGAIN GOING TO COME WITH IFA MODEL HOWEVER BY THE TIME SO MANY IFAS WOULD HAVE CHANGE THE BUSINESS AND ALL THE MALAI WILL GeT ENJOY BY THESE AMCS. ACTUALLY REAL CULPRIT IS AMC NOT REGULATOR. AND EVEN REGULATOR IS GETTING HIS HANDS IN THIS SO CERTAINLY THERE IS BIG DEAL WHICH U AND ME is UNBLE TO UNDERSTAND WHAT IS UNDER THE TABLE AMCS WILL NOT GOING TO DISCLOSE A DETAILS WHY ALL THESE.

It is the AMC which should put pressure on SEBI to drop this draconian act. AMC knows that indirectly this affects their volume also in coming days as the investors demand cut from the IFA as it happens in insurance business.

Dear Rajesh Ji "I AM ALSO READY TO FIGHT AGAINST THIS INJUSTICE." The regulations must be equal for every body so it should be done either for all financial products or for no body. We can atleast contribute some funds and should hire an Advocate who can fight on our behalf. But before that we should join hands against this injustice and should make an association. regards Akshay 9816184422

Next target of regulator will be abolishing trail also.So we worked hard for lat ten or more years to build aum and by planned and vindictive approach regulator had almost driven us out of business.We still work hard to bring a conventional investor to mf products and as soon as his static data is available he is diverted to direct plan.So we are trying to fill a bucket which has holes at the bottom.nothing wil be achieved if we stress for other financial products to have same disclosure.Instead we should fight for natural justice thru court of law.we should collectively engage a lawyer and put the matter in legal litigation

8] As investor awareness is low, they will take decision based on own unskilled judgement or relatives friends or media9] BY ALLOWING DIRECT sebi has insured that investor will face real trouble, there is no exam Direct investment, this is absurd , for regular u need NISM but when person advises to self he doesnt need to study 10] Mention of direct plan and comparing expense ratio of direct and regular in statement of regular mode investor is clear violation of competition rules , Competition commission of india must take action against AMCS and SEBI 11]SEBI either stop direct plan with different NAV or they should apply same rules of NISM for investors , AMCs must take different cheques for expense ratio if investment is direct 12] regulation must not be restrictive or hostile ,all stake holders must have representation in regulatory body .....there is urgent need of GENUINE SRO ,, we dont need sebi for day to day activity.....

PART 2]3]if sebi was really keen about disclosure ,it would concentrated on performance disclosure , we never know which board meeting is attended by AMC or voting done or not ,if this disclosure was strict Mallya gate had not happened 4] 99% of our clients are new to mutual fund industry , they dont need mutual funds , IFas are creating awareness and make them invest in mf,in such unfavorable can one expect getting fees? 5] RIA model wont work for retail clients , either retail clients wont pay and no invest or they will get free advise from adviser and invest direct 6] problem will come when markets going down ,,,common investor needs hand holding which will never happen with RIA 7] as there is no attachment with investment there will be lot of churning and chessing the returns by RIA will create volatility in the markets .good funds may loose out because of sudden redemption And there is very risk of funds used like ETF means actually trade

part 1]you have raised really very good point. if commission is disclosed in absolute ,then expense ratio has to be explained in absolute .there is problem not with disclosure but the comparison statement will provide with direct there are few points from my side 1] sebi has decided the direction of industry that they want RIA and ecom model of distribution 2] IFAs were thrown out of house in 2009 , but didnt realize it , now things are clearer ,now IFAs have built industry AMCs and sebi dont want IFAs , so projecting them as mis-sellers in statement by comparing it with direct

Amcs are also a part of this ploy to wipe out ifas there is only 0.5% diff between direct and regular plans so removing ifas the total income goes to amcs without any sharing and if amcs are really worried about ifas then why dont they advertise this diff in newspapers and ask investors to come via regular plans rather than direct plans instead of shedding crocodile tears towards ifas

As i mentioned earlier at least we could file a writ that why this is implementing only on Distributers associated with MF industry. And if need to implement it should be applicable on all other financial products like Insurence Bonds and even on banks .

this is nothing but a planned way to wipe out ifas. now all amcs will deploy/deploying there direct teams and start/started calling regular clients and describing them the benefits of direct plans. all the amcs have regular client base to feed their direct teams. I AM READY TO STAND ALONG WITH TO GO TO COURT AGAINST THIS INJUSTICE DONE BY SEBI JUST TO SAFEGUARD INTEREST OF BIG AMCs. If there is any body who can come with me call me on 9313610710. Because 1+1 is equal to 11.

SEBI, being a Government body, may get covered under RTI.

Asset Management Companies are Private Sector Organisations . So, are they covered under RTI?