"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. "
Most of people saying,I get free Advise with my Advisor,So why Paying RIA.I think Indian market not Ready for RIA Acceptance.
Long story short. SEBI dont know what they dont know. They are the most confused lot and making others confuse also.
They want to kill both with one bullet like Rajni kant. We need to create our nuisance value because that is the only value , which is heard in India.
to serve 100-500 families who is sebi to put cap on the earning potential of a an advisor/consultant with licenses from irda-life and general,amfi mutual funds,pfrda -pension plans ,banks sharing mortgage/home loan commission and now RERA FOR REAL ESTATE ADVISORY SERVICE (RE/MAX NO 1 FRANCHISSEE IN REAL ESTATE) ,AMWAY EARNING POTENTIAL THERE BUSINESS MODEL IS NOW COPIED BY KOTAK LIFE WHERE YOU GET A LICENSE AND SELL AND THE SAME WAY GET A FEW GET LICENSE UNDER YOU AND HELP AND EARN COMMISSION
THERE IS NO CAP ON COMPANIES CEOS BUT FRESHERS WITH INFLATION AND ALSO HAVE TO CLEAR EDUCATION LOAN NO INCREMENTS PROPERLY. VIJAY MALLYA-AVIATION INDUSTRY FAILURE 9000 CRORES 70 YEARS AIR INDIA 50,000CRORE LOSSES.R COM 14 YRS 50,000 CRORE DEBT THEN CHINA DEVELOPMENT BANK SHOULD ARREST ANIL FOR MUKESH RUINING HIS BUSINESS WITH JIO PRICE
WAR.ADVISORY/DISTRIBUTOR.WITH EXPERIENCE BOTH ADVISE AND SELL WILL HAPPEN ,NOT WITH SEBI SITTING IN BOARD ROOM TRYING TO PUT CAP ON EARNING POTENTIAL OF ADVISORS
Yes this indication is the great pleasure for us. Further judiciary has permitted SEBI to reinitiate the process of forming SRO for us, that will give us identity. It seems that year 2018 will be very good. Now if our brokerage also becomes the prerogative of SEBI instead of AMC - similar across industry , the concern of GST will also be resolved . We will be able to distribute funds solely on merits of fund , requirement of client and will have the identity and respect both.
Nicely explained. Thanks to Mr Vijay for updating different points of SEBI RIA Regulations. Also Thanks to FIFA for their efforts.
Does this note suggests that a ARN Holder who is also a sub broker for shares in his firms name is not allowed?
Both are in my firms name.
I also dristribute bonds and etf (bharat etf) for National Distributors in my firms name.
Does this mean i have register as a RIA now?
A sub-broker also gives incidental advise regarding shares but is not required to be registered as a RIA.
Can someone clarify?
Does this mean that MFD or (even his family member) will not be able to sell other products like insurance, bonds, FDs, PMS ?
Also can a regulator say that an adult family member should not do a particular type of business?
Also if a MFD is also CFP; is he "planner" or not? Because his certification says Chartered Financial Planner? Interesting thought this !!!
Thanks to FIFA for relentlessly working for cause of IFA faternity!
Please join FIFA to help yourself!
Good start for Mutual Fund
INDIA NEEDS ATLEAST 200,000 ARN HOLDERS TO SERVICE RETAIL POPULATION FOR MUTUAL FUND. ARN/EUIN HOLDERS SHOULD BE ACCOUNTABLE/RESPONSIBLE FOR DISTRIBUTING/ADVISING MUTUAL FUND. SEBI SHOULD ALLOW EUIN HOLDERS TO ADVISE ONLY MUTUAL FUND, IRDA TO ADVISE INSURANCE, PFRDA HOLDERS TO ADVISE PENSION SCHEMES, ETC. IF ONE WANTS TO DO MORE PRODUCTS LIKE EQUITY, DERIVATIVE, PMS, AIF, MF, ETC SHOULD BECOME AN RIA. KYC OF EVERY EUIN /ARN SHOULD BE MADE COMPULSORY AND THEN KYD IS NOT REQUIRED.
A very good and timely move by SEBI especially when new breed of clients & MFDs are flocking to market. Now, the campaign " MUTUAL FUND SAHI HAIN" is also equally relevant for vast pool of IFA MFDs. Banks & NDs can always change course because of Financial muscle and reach they have. Now the earlier hybrid model which was nothing but a Jugaad mentality among all class of intermediaries, big or small would have cause more heart burns for end consumers. SEBI has rightfully corrected the anomalies. A niche business like Pure RIA also has huge scope in coming days as India will be home of a few crore Multi millionaires who would demand better product and better service and would be price-densitive.
The article is excellent. Easy to understand for small IFA sorry MFD.
Nicely Explained.. Most of doughts clear.. Clear-cut distinguished between RIA &MFD... Thanks Vijay, Wealth Forum n FIFA... Good Clarifications
Thanks a lot For Clarification
A nice welcome for a while .......but be prepare for coming years !
I think assuming that this paper is a ver 2 would be wrong. As the draft of the letter is like this is to be read in addition of the last 2 papers, each paper is connected to last paper and only.
Sebi has modified certain points as per the suggestions arrived from the MFDs. This will be early to think this is a BIG Gift from SEBI to MFDs.
Still there are 2 to 3 points to be cleared then it will be balanced format in which both RIAs and MFDs will work without disturbing each other.
I have already submitted my points to the sebi.
Indeed a BIG BIG thanks to FIFA for their tireless efforts in making this a reality