Sir it sounds good but not great. Most of such common already prevails in the market but it is a Distributor centric model and not IFA centric. What i mean is such platform has no signup fees or little signup but the fact remains that when we signup on such platform we remain as sub broker and we are tied up for getting commision from them and not directly from our tieup with AMC. Hence if we develop MF utility for IFAs then how will u plan a sale and maintainence. It would be also good to develop the same platform to take live feeds from other financial products like insurance , ncds, reit, pms, etc under one roof

It is great idea why dont we start working on the same.

Yes it is a need of hour to come together and develop our business. convienece of transaction is the main hinderence in direct plans going viral . so we should adopt tech platform to give convienece to pur clients to combact direct plans...

LET ME KNOW MY CONTRIBUTION TO STAND ALONG WITH YOU

Excellent Ashish ji. I am from Raipur , CG. I agree with you. Pls let me know the my contribution.

Dear Ashish and Manish, (VISTA WEALTH) I agree with you fully on the issue of creating exclusive Online PLATFORM for MF investment for IFAs with no option of Direct Plan. We IFAs can pool funds to make this platform a reality, as also pay Annual Fee for its maintenance. Let me know as to how we can go ahead on this. rhd1969@gmail.com

As per my knowledge till now NSE platform is the best for IFAs community as it does not offer direct plan from their platform while MF Utility does it.

Excellent article Asishji. We strongly feel that Direct Plan Should be seen with same seriousness as Service Tax. Further with Robo Advisors becoming Active In India , Direct Plan is a serious Threat for Distributors. Need to the hour is a online transaction platform owned by IFAs

I am sure that, these business model of AMCs will not Successful, But may question was "how can they manage these direct sales cost ??? On which account?? On which NAV?? Direct or Indirect?? Infect those Direct sales guy have their own super boss up to Mumbai.. " 4. We all IFAs, Few ARN Communities ( Like DFDA, FIFA, SIFA Etc..) RDs, NDs, etc Just fitting for Price.. And happy with those 0.20 - 0.50 extra incentive ... But nowday its matter for hole our incentive.. We are losing our own identities Dont look at smaller picture..

3. Those AMCs are here for business, for them AUM Maters not Performance / Fund / Distributor / Clients. Now days all these AMCs start direct selling to our own clients by talking " hello sir, you had invested in xxx AMC, Your KYC is Incomplete. We are collecting the document, so pls tale your address and appropriate time. I have proof of these.. All big AMCs Are doing these And then they are asking for business / compare NAV v/S Direct / Indirect..

I want to talk 3-4 things 1. all those major bank have their own AMC and they cross sales their own AMC Products... Look at top 5-7 AMCs... So those AMCs are ready for DIRECT Sales, they have full flange team in almost all areas. 2. Those 5-7 AMCs are primary member of AMFI, they have power in theirs hand. Dont look at your local RN, BM, RM.. They are salaried.

I fully support the idea Ashish and Manish Goel. Rather i would say that nuclear bomb has been fired and ready to hit in time to come. Have we worked on developing missile that is a platform especially meant for IFAs and by the IFAs. So we support this noble idea.

I agree with Mr.Goels thoughts and ofcourse if NSE help for this platforms approval, it will help all the IFAs in the coming days. I will join if the platform is offered, in due course, at the earliest possible. My Regards for early achieving the goal.

I agree that we all IFAs/Retail distributors should come forward and create our own platform to combat direct plan. Lets reach out to as many IFAs/Distributors for this purpose. Best regards,

Very well articulated Ashish sir. I completely agree one dominates others become also-ran. To make NSE platform successful ,people need to stay away from freebies. NSE platform charges very little and people should get ready to invest that much money.

Expense ratios going down is a reality. Also, in some years to come we might not have any commissions at all. So it is important one adds value to the client. As long as a client trusts your advise no regulations will impact the advisor. Also, one needs to sack clients who do not fit in ones scheme of things. Distributors will always be at the mercy of the regulators but full fledged advisors will not only enjoy the transition but also earn good money. Enjoy the ride guys!!

I agree that we should come together to create a customised platform for IFAs. But instead of making direct an enemy, let us allow direct too on our platform, RIAs too can use the platform and charge fees on AUM. We should be future ready. Let us make a platform, wherein we are able to charge upfront fees from the client, over the platform (which is allowed by sebi for distributiors), so that our customers also get used to paying fees. And if ever the trail goes away, the platform enables us to charge trail fees from the client too. Lets make ourselves and our platform future ready. If we show value to our clients, no body can take them away from us, not even the regulations.

Yes the solution is available without any sponsored ship of AMC. We are using platform provided by fin-soft solutions and we are happy with the services. Fin-Soft Solutions is available in the market since -2000. and in any circumstances he hasnt try to hiding himself. you can contact ashesh@fin-soft.com for the same services.

Pls share your number or call me on 9810185185. I have something worthy to discuss

In fact, MFU is facilitating such integration with any platform into MFU System. Already a couple of distributors have integrated and a few more are discussing with us. If you plan to create an application, it can be integrated with MFU for transaction. Also next week MFU will be launching TransactEezz and PayEezz. Visit out website to know more about this. This will make transaction by distributor easy and paperless / documentless.

Cost matters , but Quality is much more important. That said , direct is in no way a competition to a good IFA who sticks to the core value of clients welfare. In fact the disclosure will make it all the while easier. I dont want to wear a sweater to avoid summer heat. Just adding another platform is not going to save us, but our disclosures and integrity will.Because , AMCs are paying hefty sums to various media to publicize direct plans, isolating a client from that noise is impossible. All these days people were bearing the burden of being with an ND, now NSE platform any different from that? , in a strict sense not!As long as AMCs dont shut down their portals , creating another such facility is just waste of time and effort.

Its true that the way things are we might start seeing many of our clients going direct in 5 years from now. I have been thinking exactly the same where in we distributors make our own site collectively. May be one like fundsindia.com. Because only way to combat direct is through technology we can offer. Can not 30 to 50 ifas merge their aums and propotionately distribute brokerages. Also concentrate on marketing of our collective website with our routine works. Pls be in touch if you have anything in mind. My number is 9810185185

Totally agreed that distributors/IFAs shall get fruits of MF industry as we have created wider acceptability.. We have worked hard for spread of MF Investments since its start. --- NOW IMMEDIATELY------,BOYCOT all tecnics / applications offered by AMCs for facilitating AMC specific transaction.. Do not canvass & make use of such tecnics.. Why facilitate AMC at our costs ?

Well, I am always positive to appreciate any new productive initiatives. Best wishes for grand success in your new endeavour. I have already been shifted around 100 MF Portfolio a/cs. on iFAST platform in last 3 - 4Yrs. and it has really been doing great for all 3 stake holders......Clients (Investors), Me (IFA) and iFAST (Service Porvider). it is really WIN - WIN - WIN situation experience on iFAST platform.

How much does a client save on direct? Not more than 0.5% of his portfolio per annum.( diff in expense ratios) This is not taking into account some basic cost, the aggregator will charge. Even if he has a portfolio of a crore, we are talking about a annual net saving of Rs.50,000(0.5% of 1 crore) by going to direct. Rs.4000 per month. If the client has a car driver for himself, he has to pay minimum Rs.12000 per month. Is our value add lower than that of a driver, that he wont even pay 1/3rd of what he pays to his driver? A timely advice can make him earn much more than 0.5% per annum and people who can make the client understand this need not fear direct.

There is a disconnect in the argument. You are saying distributors should come forward to create a technology platform that will not allow direct plans and you are saying by sheer popularityand usage numbers the portal will become popular and widely used. Orkut was the first social network in India. People shifted lock stock and barrel to facebook because they found something better in it. If the client has decided to go direct, then he will only look out for a portal that offers it and in a free market like ours, there will be another player who will develop it for only direct to satisfy that demand. Increasing the advisors value proposition is the only long term solution to direct. Not just a technology platform. Rgds Shriram

Being together is always good idea. Let us join. Thanks

Dear friends , its a good idea of togetherness. Good for new distributors & technology driven platform will always help us. Go ahead...

I am totally agree with ashish goel

Good idea, will stand by your side to implement it.

totally agree with your views and already trying to register all clients on nse platform

Hello, Rather, I am a strong promoter of Direct Plan, as my entity is the first Fee-based Financial Planning firm in Nasik. WE are charging fees since 2008. Being the first CFP, we got the first mover advantage. And we make sure that the fee gets mainly compensated from shift from regular to direct plan. Instead of resisting the change, adapt to change. Financial Planning is much more beyonf just selling MF or Insurance.

A Very Good Initiative by DFDA / Vista Wealth . Please make it a reality soon. Please indicate the one time & per annum contribution required to implement this great idea. Start registering the interested Distributors by taking the initial contribution.

Dear Ashish and Manish. Your IDEA is Excellent. I like it. As said once we dominate the online sales platform others will be in the background. From my side I shall communicate this idea to all my fellow IFAs here at Solapur. Let us work together to make this a reality. Thank you.

Technology is only an enabler. If we concentrate more on clients and their good we will have less to worry about Direct. If we take care of clients, in a majority of the cases they will reciprocate. To take care of clients in proper manner requires that we spend time with them. Which in turn requires that we be more in an advisory mode rather than in a seller mode. We shouldnt forget the fact that Direct was introduced by SEBI to take away business from those who doesnt add value to clients. Whatever be the platform, if we are in a "seller mode" we cant protect ourselves from Direct. The Best way forward is to upgrade our knowledge, have limited number of clients so that we can spend more and quality time with them, concentrate on a few quality fund houses and make use of their free online platforms.

What is the guarantee that once NSE reaches a certain size it will not ask for its pound of flesh as the current online platforms are asking in terms of sharing of revenues? If NSE increase charges after our clients get used to the platform can we change the platform easily?

This is true, we need to work together, in this direction.

I agree and fully support your view and also appreciate your efforts. If anything specific to be done on my part, please inform as and when required. Jignesh Trivedi ARN 98711 Mobile : 9428024118

I believe we are in the right direction towards common platform for IFAs .. this is a real game changer and I fully agree with your ideas ....

Absolutely agree with the same and we need develop such an application for the same

I think this is a very good idea...i would support it whole heartedly.