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Yes all ifa are cheated on privious business. In every field new rules are applied from the date of implimatation with new transactions only & not in old.all rules are apllicable as on date & fir future transactions only..but Indian IFAs are very unlucky..SEBI & AMFI PLAYED PARTIALITY WITH IFAs evrytime

We are CHEATED, not feeling cheated. I have dedicated 15 years in MF industry, and now at the age of 53 suffering from severe HEART problems, And I need the regular income, now AMC and some selfish IFA convey the message to focus on BUSINESS VOLUME. How can they understand that I have spent my lifes GOLDEN YEARS in MF INDUSTRY and establish my business. Now definitely I am cheated . Not feeling cheated. Now I have no any options and time and offcours HEALTH to enter in new business at the age of 53. They have PICKED my PPOCKET and SNACHED everything .

if we may pull out our corpus each fund house on everyday 10% upcoming week, amfi & amc will come down our path.

The IFAs are brand ambSsadors of AMC and the role played by them in creating such a huge AUM for last threedecades is unparalleled and immensely precious for MF industry. The Govt is talking of SME and self made jobs why it is not paying attention on salvaging the interest ofillions of distributors who have toilrd very hard for their livelihood.

ICICI, HDFC and reliance all 3 have more arrogance and less care for IFAs they are more inclined towards NJ and other big brokerage houses dont care for small IFAs better stop doing business for them there are equally good other MF houses available for reccomendations.

the amcs, amfi, fund managers, fund houses, have lost human conscience, human values have eroded to so low levels. they treat ifas as commodities. they misrepresent the laws and live in iconic towers, hence no pains for them. why their salaries,commissions are cut accordingly

WHY WE CONTINUE PARTNER SHIP WITH CHEATER BIG PARTNER

I agree with Jigneshbhai, the AMC’s have cheated IFA’s. We focus on mutual fund business only for volume and because bank would not participate, but, does it guarantee the commission on the new business we procure would be passed on honestly ?

Jigneshbhai you are 100 % true. PAIN IS THERE BUT ALSO GAIN IS THERE. in last 5 year so many regulatory changes. but if you focus only problem then you never grow. pain in old assets but coming time good. so my msg to every ifa present time not good so many problem but focus on business. see 2009 time those left business.

We are mostly affected by AMCs like HDFC, ICICI & Reliance. They have reduced brokerage to an extent of 53% as compared to last months brokerage. Some AMCs like Principal Mutual Fund has not touched previous assets and has absorbed all cost of TER by themselves. Thereby supporting the Distributors like us. I think other AMCs should also think about it and should run on the same path like Principal MF. We have helped AMCs growing its assets, its payback time now.

Jignesh bhais positivity and pragmatism is as usual wonderful . Time to do a Shivaji on Aurangzeb, hum honge kamyaab.

I too feel cheated as well used for growth of industry but industry not royal to us

Only incresing volume is not a solution. When govt. Changes any rule it will be applied from the date of announcement not from 15-20years back. But in IFA brokerage its from the biggining..very very unfair

New condition must be applied on new business only.Old investment folios must be treated with old terms & conditions only.& AMC & SEBI INJUSTICE WITH IFA ONLY. ALL TER CUT IS PAAS ON TO IFA BROKERAGE ONLY.AMFI & SEBI MUST TAKE ACTION ON THIS.IN THIS CALCULATION NO CHANGE IN AMC INCOME ..ONLY IFA INCOME REDUCED. THIS IS UNETHICAL STEP BY AMFI,AMC & SEBI

I think we should tweet about this , so the message goes directly to FM,, this will draw the required attention, and may be they will intervene

The sadder part is that all AMC have reduced on the Old Assets. Despite charging 60 to 70 bps as difference between Regular & Direct plans ,they are only giving 15 to 20 bps to us . This is plain and open cheating. Also for new assets they give more but fail to do so for Old Assets despite charging from our Clients

हमरी मेहनत की कमाई पर डाका है और आगे ऐसा नही होगा ये भी पकका नही है

They have not cheated infact looted us. First they taken clawback then Few Big AMC has cut trail by almost 70%. We all know how difficult it was from last 2 years to convince client to hold on for few more years although no return on funds from last 2 years. All hard work done of ours is smartly looted from these AMC. They have used us as collection person and then given as peanuts to survive. Totally wrong and even nothing done by SEBI for us, rather they want to eliminate us.

I thing they have cheated But what action can we take aggai st them is very important As per AMC contract when they have committed in past to pay trail and now they have reduced is against contract and law We should fight and send msg to our new finance minister

I thing they have cheated But what action can we take aggai st them is very important As per AMC contract when they have committed in past to pay trail and now they have reduced is against contract and law We should fight and send msg to our new finance minister

This is absolutely right, that we are being cheated. And I also feel there is an opportunity left for us. In the mean time,it takes a lot of effort to continue in this business,knowing that any thing can happen in coming future.

यह केवल एजेन्ट के लिए ही नही, पुरे बिजनस मोडल के लिऐ दुर्भाग्यपूर्ण है।

Very well articulated Jignesh sir.. specially on acting responsibly.. both by manufacturers and distributors..!! Agitations will lead us no where..!! We hope people understand this..

According to me we should do business with that amc who is loyal to us. Dont go for large amc only.

Very well said Jigneshbhai.

Thank you sir , At least you shared your thought on this issue . . . this is the biggest issue now . . we are cheated by regulators no doubt about it . God knows what will happen in future .

I feel same also.

Shocking, reduction without intimating the so called partners, where is the bonding or are we talking of trust, 😎

Yes...not cheated they looted

Not sure whether AMCs have legal right to change trial brokerage on earlier assets. As far as I know the earlier borkerage structure didnot have any clause which said it is subject to change. Moreover as per legal laws in the country you cannot change what has been communicated and accepted by both the parties - even if your earning go down. I am sure if someone takes the AMCs to court, they may loose the case.

After TER reduction AMCs are doing everything to eliminate IFAs no clarification on recovery, clawback and reduction in TRAIL on existing old AUM distribution of MF is no more viable because SEBI always ignore the voice of IFAs if IFAs do not unite and fight back then there is a big question on IFAs existence.

I feel totally cheated , my trail commission down approx 80% due to clawback .How can I stay working as mf advisor???

Thanks Jignesh bhai,you have raise all india IFA COMMUNITIES VOICE, THANKS for this all IFA should come together and fight together for this issues.