Your Voice

SEBI recognizes IFAs role in MF penetration

Date : 18-05-2016
Name: Mukesh Gupta ARN NO :87541
Firm Name : Wealthcare Securities City : Delhi

Friends,

AMDWA had been invited by SEBI on 18th May to make a representation on the recentdisclosure norms. AMDWA invited Mr. Rajiv Shah of MFDAV representing UP, Mr.Sanjeev Chakraborty of ICAA, representing West Bengal, Orissa, Bihar andJharkand, Mr. Dhruv Mehta of FIFA, and Mr. Davesh Bansal of NIMFAA representingChandigarh, Punjab and Himachal Pradesh. The team from AMDWA comprised of Mr.Pawan Parkash Gupta, Mr. Mukesh Gupta, Mr. Shekhar and Ms. Tamanna Varma.

 

 Mr.Anant Barua, Executive Director, SEBI along with Mr. Parag Basu, CGM, SEBI andtheir team started the discussion by highly appreciating the role of an IFA inthe penetration of mutual fund business .

 

The discussions lasted over an hour andwas very cordial. They gave our entire mutual fund fraternity a very patienthearing and discussed in detail the role of an IFA, how to increase thepenetration of the mutual fund business through the  IFA route and the recent disclosure.

 

A representation to Mr Ananta Barua waspersonally handed over by AMDWA. We have all requested them to rethink thecircular and give the fraternity more time to adjust to these regulatorychanges.

 

Team AMDWA

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"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. "

Comments Posted
SANJAY Kumar Agrawal ARN NO :Arn2920 Muzaffarpur, 23 Sep 2017

What should we do for GST Is it justify for IFA to take GST for interstates AMC of mf Result GST minister Ko kya karna chaiyehe Bombu

Kulkarni. N.k ARN NO :ARN38712 Ballary583104, 23 May 2016

Its great effort. Worth appreciation

m s sathyanarayana ARN NO :70146 Begaluru, 23 May 2016

wonderful beginning

PANKAJ KUMAR TRIPATHY ARN NO :ARN-59790 PATNA, 22 May 2016

In my view circular is not in the favour of An Investor of Bharat.May be useful for India but not for BHARAT.Because our countries financial literacy is much lower & Awareness level is equal to Zero.Therefore this circular is totally harmful for MAXIMUM INVESTOR.This type of Transperency should postpond for Long Period.Regulator have so many another way for transperency.Every step should proper & according to PLACE,TIME & PERSON.

K J Singh ARN NO :5564 Varanasi, 22 May 2016

Very good work by IFAs representatives. Thanks for their hard work and congratulations for their success.

KRIAHNA MOORTHY R V ARN NO :105476 TRIVANDRUM, 20 May 2016

A very good initiative. In a country like India where the penetration of MF investments, Insurance, Stock market investments etc are very low, the role of a IFAs are very important in developing invester awareness and confidence leading to their growth. Therefore any attempt to hamper the interests of the IFAs will affect the industry. Krishna Moorthy R V 105476

Ashok kumar tiwari ARN NO :32109 Patna, 19 May 2016

I on behalf of all IFA of Bihar strongly against the last sentence GIVE FRATERNITY MORE TIME. And there was no any representation of Bihar we never authorized anyone to represent Bihar .we all IFA in support of total withdrawal of the circular.

Kandarp S Jhaveri ARN NO :ARN-84526 Bharuch (Guj), 19 May 2016

The issue of commission disclosure has made us get united. This is need of an hour. I appeal all IFA fraternity to come to-gather not only for resolving such issues but also for knowledge sharing. Let us form active Association especially where such does not exists. Such united efforts will help us in a great deal. I appreciate the efforts put in by AMDWA. Such move will highlight the importance of Pan-India IFA Association.

AMFFA ASSO OF IFA ARN NO :AMFFA, IFA GROUP KANPUR, 19 May 2016

Thanks and good move. This is the result of strong agitation by IFAs through out the country. Let us hope the best.

vishvas Sutrakar ARN NO :SouthEastern Mumbai, 19 May 2016

Its a really good move, I liked that in this crucial time all IFA Association come together and stand unite. We should make a strong one brand IFA association which can raise our voice in front of Regulators. I know we have immense knowledge and expertise but it need to use for our betterment under one umbrella. Let see how serious, SEBI taking us this time when we all unite in the force. !! Hope to see a good out come.

YERRANNA GOUDA ARN NO :63903 BALLARI, 19 May 2016

Its an excellent movement

Jitendra singh ARN NO :85446 Mumbai , 19 May 2016

Very good job done by IFA family.IFA is the back bone of mutual funds.

PUSPAL BHATTACHARJEE ARN NO :ARN-96284 KOLKATA, 19 May 2016

It is a positive action.

Surojiy Kumar Guha ARN NO : ARN-3127 Jamshedpur, 19 May 2016

A great achivement of make them understand the role value of IFAs in the industry .

TEJINDER SINGH ARN NO :ARN-101848 CHANDIGARH, 19 May 2016

THATS A GREAT INITIATIVE

ANUJ MITTAL ARN NO :73487 ghaziabad, 19 May 2016

THANKS AMDWA TO APPROACH SEBI ,,,,MAKE REPRESENTION ...AMDWA..WILL BE NATIONAL VOICE FOR ALL IFAS ACROSS THE COUNTRY....GREAT TEAM EFFORTS......

RADHESHYAM TAORI ARN NO :19604 NAGPUR, 19 May 2016

Well done by directly comminicated to concerned authority.Pl.go on

CHETAN DOSHI ARN NO :ARN-0605 INDORE, 19 May 2016

Approching directly to the authoriety and convincing them is the best strategy hope the results will come favourable all the best wishesh to AMDWA for the efforts made.

AJAY KUMAR VERMA ARN NO :7355 Patna, 19 May 2016

My many many thanks to all our members of AMDWA WHO MEET SEBI OFFICIAL TO RESOLVE OUR PROBEMS AND HOPE THAT SEBI CHAIRMAIN LOOK THIS URGENT MATTER SERIOUSLY .

Mohammad Haseen Ansari ARN NO :ARN-32305 Varanasi, 19 May 2016

SEBI reconsider decision od commission disclosure in account statement. SAVE IFA SAVE INVESTOR

Goutam karmakar ARN NO :32814 kolkata, 19 May 2016

Today was a historical day for IFA Community across the country This is first time the following team has been presented themselves at the SEBI HQ to start of a series of discussions between SEBI & other stakeholders primarily IFAs. Our President Mr.Sanjeev Chakraborty of ICAA, representing West Bengal, Orissa, Bihar andJharkand, ICAA is a platform of the IFA , for the IFA , by the IFA . We intent to upgrade knowledge, skill , Business, Market penetration and Income. We also together will secure our Health , family and Income for next Genaration . Share your ideas and be part of THE IDEAS . GOUTAM KARMAKAR Hony secretary of ICAA

RAJKUMAR Z. AGRAWAL ARN NO :ARN-86995 AKOLA[M.S.], 18 May 2016

Its an excellent move by AMDWA, good job done.

Doddi Venkata Ramana ARN NO :98484 Hyderabad, 18 May 2016

This is good news. However I believe there is long way to go. Beaurocrats may take U turn sometimes. However, we seem to be coming together. This is our strength. Financial product distributors be it insurance or mutual funds or other products put in lot of efforts, ignoring present for securing future. So why not, regulators understand the life of IFAs. Generally IFAs do not earn basic life style for the first three years but work with possitive outlook. So the Society has responsibility to think about it. bye Venkata Ramana Doddi

Ram Lal khanna ARN NO :97411 Dehradun, 18 May 2016

We are looking forward for favorable decision for Ifa from SEBI ,now SEBI should have a Mac able decision for true IFA .

vinod bhutada ARN NO :43455 Nashik, 18 May 2016

what ifas are asking is returns for there efforts,talent & service.They are not asking for a free meal. Ifas make tailor made products to reduce risk & make investors wealthy so that they will bring more clients to them & industry. we are indirectly serving the nation at a very very less remunaration/brokerage. for even a small investor we take them in stream so that in future he will become richer & a big investor. SEBI is now seams to be on track .hope that they will understand efforts , cost & time & accordingly take decision otherwise it will be too late for mf industry ,they will have to keep workforce on salary & even then they will find that it is not worth to give salary for business brought in that much salary.

Milon Dash ARN NO :56591 Kolkata, 18 May 2016

It is a positive step.

Subhakanta dash ARN NO :ARN 102088 BALASORE, 18 May 2016

How to increase my advisor fund of value.plz help me advice about...

K.Muthukaruppan ARN NO :104468 Erode, 18 May 2016

Many products like medicine, all Fmcg and two wheelers , four wheelers any product not mention disclose of margin of retailer and distributors. Why sebi want to disclose Mf distributors commission.It is not proper way for development of MF business .

LOGANATHAN S ARN NO :98706 Salem, 18 May 2016

The efforts taken by the team members are tremendous. Let us hope a positive action by SEBI.

Sambhik Sinha ARN NO :50150 Jalpaiguri/ west bengal, 18 May 2016

Good Job done by United IFAs family.go ahead ICAA team. Ultimate SEBI become ready to hear IFAs Voice.

Deepak Kumar Agrawal cfp ARN NO :20992 mathura, 18 May 2016

thanks god atleast sebi become redy to hear ifas voice we shoud continue pressar to autharty. thanks national associations

p venkateswara rao ARN NO :44436 Hyderabad, 18 May 2016

good beginning.

Chhabilesh H Patel ARN NO :ARN 42660 Ahmedabad, 18 May 2016

Thanks to all representative of IFA. Their move is an excellent step. Hope God will give SEBI some thing in their mind to think the importance of IFA who are back bone of MF industry specially to bring individual investors.

rajendra k tarte ARN NO :26527 VADODARA, 18 May 2016

Its avery good moov by IFA representative i personelly appreciate the pain taken to resolved this issue. It is really good thatsebi understand the role of IFA for penetration of M F business. let us hope for our favour

Amalaraj Marian ARN NO :2408 Nashik, 18 May 2016

This is a very welcome move by Sebi inviting and listening to the woes of the feternity. Further we only hope that their excellencies would give a deep thought while bringing in swiping changes. We surely hope the will take the stakeholders in confidence and then implement regulatory change. Giving in a reasonable timeframe to get enough time to adjust to the changes.

Pranab Kumar paul ARN NO :24866 Dhanbad , 18 May 2016

Good job done by United IFA family.go ahead ICAA team.

VIJAY D PAREKH ARN NO :9089 GANDHINAGAR, 18 May 2016

Dear Team, Really very good presentation

Y Satish Shenoy ARN NO :4906 Bangalore, 18 May 2016

I think this is the first time SEBI heard IFA representatives. Go ahead we all are with you

D D Bajaj ARN NO :ARN-19896 Kanpur, 18 May 2016

Proposed Disclosure norms will be suicidal for individual investors. It will create more enemies than friends. An individual IFA is ready to go and meet an investor even for a SIP of Rs 500. A person who sees returns of 500 Rupees SIP is bound to come with more funds after some years. IFAs fill up every forms such as KYC, FATCA etc. NO AMC will take this much trouble for a small amount of Investment. Why SEBI is against IFAs who are dependent on advisory business for their livelihood ? The Role of Individual IFAs can not be ignored for the mutual funds Growth in the country. Very few can fill up the form and complete the formailites of KYS, FATCA etc. Governement should encourage individual advisors with more incentives.

K.V.R.Krishnama Charyulu ARN NO :ARN-14024/Individual Hyderabad , 18 May 2016

Its an excellent move by AMDWA

ASHISH SHANKAR ARN NO :17484 Muzaffarpur, 18 May 2016

The effort made by all is great. Congratulations to all of us and the team representing us..Lets hope of good outcome.

Vishhal Malhotra ARN NO :6534 Lucknow, 18 May 2016

Great going. Keep it up. My Best Wishes to the entire team for their great effort. May The Truth Prevail. May India Rise And Shine. May Our Mutual Fund Industry Take A Lead Over Banking Industry Soon. May The Common Man Benefit Out Of Mutual Fund Funds/Schemes. And Last But Not The Least May The Mutual Fund Distributor Survives.

Pawan Khurana ARN NO :65132 Haridwar, 18 May 2016

Efforts & supports both are appreciable. Hope all the positive from SEBI .

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