Mr R.C. Maloos report is correct and I would urge AMFIs Operations Committee to please take cognizance of these points and urgently tackle and resolve these issues.

We all know that every one of us are facing this issues on regular basis. You have raised very valid points & due to these type of communication / Information gap, customers also got irate. There should me some mechenism be developed for communicating to fulfill these gaps on ultimate priority basis, hence leakage of business could be stopped & timely information to the customers would make customers happy to generate more business as well. Thank a lot for raising these very valid points, now we need to seek the resolution of the same at the earliest.

ITS IS GENUINE ISSUE OF INDUSTRY . I MYSELF EXPERIENCED THIS ISSUE MANY TIMES & CONSEQUENTLY LOST CUSTOMERS. UNLIKE " WIN-WIN-WIN " SITUATION ---- IT IS "LOSS-LOSS-LOSS" SITUATION . MUST BE ADDRESSED ASAP .

Good feed back.,and every IFA is facing. This has to be corrected in a full proof and AMC has to take the confidence of IFAs practical difficulties to be eliminated in a innovative way.

Why details on FACTA needs to be submitted when client has given his Indian Pan Card No. ?

Fully agree with Nutan Shah Mumbai

Very focused points were highlighted. AMC can Co ordinate with us to stop the leakages. It will help a lot to the growth of the industry. Thanking you sir

LAST POINT NO-6 IS WORTH TO B NOTICED.WHILE CHANGE IN RULES CAN NOT B DENIED, I FEEL THIS CANNOT BE FORCED ON PAST INVESTMENT OR OLD RUNNING SIP..SECOND-STILL AL AMC MUST SEND PREPRINTED FACTA OR KYC MODIFIED FORM DIRECTLY TO CLIENT WITH COPY TO HIS ADVISOR FOR FURTHER ACTION.AND LASTLY-A TIME FRAME OF NOT LESS THAN 3-MONTHS B GIVEN TO RECTIFY SUCH THINGS. FOR LAPSES IN SIP DEBIT--IT UTMOST DUTY OF EVERY AMC TO INF RESPECTICE ADVISOR TO TAKE ACTION IN TIME.THANKS..

Sir, its regular challenge , at karvy Last month 2 sip stopped due to same reason.

Very important issue has been raised by Mr. Ramesh. However, please note that if investments in mutual funds were easy, every investor would have gone direct. We advisors are here to help investors. Two of my clients who were investing directly, now invest under my ARN, because they realized that when there were problems I could help them. If investment in mutual funds is more complicated, then more investors will come to us for help.

Iagree

The issues raised are very relevant and important. There is a gap in communication and delay in communication also. Each and every rejection, default or otherwise has to be informed to the concerned distributor urgently by mail, sms, phone etc. Even in case of any querry by the investor about redemption process etc the AMCs should alert the distributor.

Why SIPs are getting blocked ? Making so much hurdles will make investing a haphazard experience. Do AMCs want the investors to come to their offices ? What are the intentions of AMCs on this ? A client coming directly to office can be given a direct plan ? I assure that all the AMCs have given a direct plan target to all their operations team. Recently one of the AMCs operations staff conveyed me that, sir, we have huge targets, what we can do now is to call existing clients of banks, we need to be careful when calling any IFA clients !!. Dont know when they are starting to call IFAs clients too.(dont know whether they have dbwalready started ). This is the attitude which AMCs propagate to their operations staff and obviously the sales staff too. AMCs should realise that making immediate profits will not sustain your business. IFAs are human resources , change the attitude towards IFAs or else the distribution system will not survive.

You are very much correct in your observations but I feel, you will not get support from AMC or even AMFI. AMFI is managed by few of MDs or Sr. Exec of AMC. Thus what to expect ? It would be a miracle, if the services of kind that you demand will come up from these AMC, where a culture of Masters and Super power approach, dominance is ruling the market. Neither they can extend courteousness, nor gentleness or humbleness, because even their RTAs who earn crores as service providers are yet another classic example of rudeness, dominance and what not? All of us must have faced and felt the high handedness, and high air that runs in their mind, though they are wrong in many ways. Sir, we need to change culture. I feel, you will have to be a crusader, to achieve your dream, if i call your demand as. Much much can be done together but for selfish motives, we leg behind.

Very relevant issue raised by Mr Maloo. AMCs should not leave any stone unturned to make investor and distributor experience delightful. The entire focus of AMCs have shifted from ensuring operational efficiency to technology advancement.