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Yes AMFI should consider the request of such people.

This is true. When distributor is serious about his business and whatever savings done by his customers before expiry of ARN is eligible for trail commission to him. New business done after ARN expired , is ok for non payment of commission.

My arn got expired on 1st April 2024 .at present I am 60 years old how should I get my arn renewed

I agree with your proposal.

I absolutely agree with the above stated request-particulary with persons with 10 years experience &/or senior citizens over 70 years old

AMFI should prove themselves. It should stop immediately . No exam , No renewal fee .

After certain age AMFI should waive all these exams,refresher course etc to help out ageing distributors.

1) Amfi reduced its renewal fee to encourage people to do business. Then why Amfi rules are so harsh on renewal of ARN. Why is a serious adviser have to forgo commission for period ( expiry date to renewal date ) 2) All govt dept levys a late fee. Amfi can have this implemented in case of delay of renewal 3) It takes 40 days to renew a ARN . This is among the longest time taken by any agency. 4) Why commission is put on hold for these 40 days , will any body explain.

AMFI as it names suggest is a body by/for the MFs in India and hence will always try to benefit its members. Therefore we the IFAs need to unitedly fight injustice inflicted by any one AMFI or SEBI or even central government''s Finance Ministry. We may join any Association out of many in India but our Association should join hands with others to fight our cases.

At last , we received, our right of giving the commission to our nominees. AMFI Circular on March 28 , 2013 has stated the need for revising the earlier circular. Now our nominees will receive the commission for the SIPs which are registered by us till the investor wants to change the broker or stop the SIP. no need of ARN renewal by the Nominees. Thanks to all those who has pressed AMFI on this.

I have applied in the month of February 2013 .Till today I have not received renewed ARN card. AMFI should see to it.

there is another point to whole of it wherein cams take 4 months or more to renew once amfi licence,

I am doing MF business sincerely and honestly Personally I don''t like to sell insurance plans for investments to my clients, I am recommending mutual fund schemes for investment purpose. But in insurance industry it is different. In insurance if an agent procures any client s/he is assured will get continuous commission on it (till he pays premium). Then why rules are different in MF. Selling MF to common people is very difficult. They try to see its value every day/month. they are ready to pay insurance premium 20 years (till maturity) and will not ask value, but doesn''t tolerate erosion in mf schemes. We counsel them, assure them, educate them about market and what we get? Always a fear about my own future as Mutual fund distributor. Regulators should check this. if any distributor alive still he /she should get trail commission as he/she has done efforts for procuring it unless and until investor initiates a request for change of broker.

STOPPING OUR COMMISSION IS NOT RIGHT.

yes I am also concerned with this.

We agree

I AGREE THAT THE CONDITION FOR RENEWING OR NOT THE ARN SHOULD BE COMPLETELY FLEXIBLE AND OPEN TO THE ARN HOLDER AS HE WANTS OR NOT TO WORK IN FUTURE AND HIS TRAIL SHOULD NOT TO BE DISCONTINUED

I agree with Mr.Arun Kumar Sigh. The current set up is such that, if we sincerely work in the interest of investors and stop giving business to those fund houses who are not performing well/which does not give good service to clients, we will be penalized for our honesty by the fund houses by stopping the trail commissions there by putting pressure on us to sell the under performers. No consideration for old age is certainly harsh.

Dear friend, I am in the industry since last six years working as an IFA. Every year I am submitting my "Declaration Form" in time. But, ICICI MF has withheld my trail commissions since a couple of months, citing the reason that I am not a regular distributor and my AUM is below 10 lacs. Does this mean that whatever work I have done for so many years, has gone in vain/waste. Who has given authority to this MF house to stop the payment of trail commissions? As an IFA, how can a distributor earn so much commissions to run his home? If he works for 24 hours also, there is no much earning. BUT WHO CARES? AMFI is issuing daily some new regulation but, IT IS NOT WORRIED ABOUT THE ASSURANCE OF THE REGULAR PAYMENT OF THE COMMISSIONS, LET IT BE ONLY TRAIL. So, my point is that AMFI should look into the matter regarding the REGULAR PAYMENT OF COMMISSIONS and for the ARN RE-NEWAL as day-by-day a person gets old only. They must follow the LIC path in paying the commissions.

dear sir, you r right , the AMFi must give consideration to those who r cross 50 year of age or above 10 years of experience, as LIC gives us

I fully agree with this IFA T V SAVITHRI The current clause of suspens is arbitrary to IFA Intending to protect investor interest, AMFI & SEBI are curtailing the IFA''s rightful, retiremnet dues and; more over sustenance. Under these circumstances, why anyone would opt for this profession? I hope more and more IFA express their opinion and AMFI & SEBI, will become considerate to the grass root level promoters of the Mutual Fund Industry. I urge , the Editor of Value Research/Mutual Fund Insight, whose articles have been opinion creators on all these issues also takes up the issue. favourably

I am also the victim, i have not received the trail commission from many fund companies for not renewing. They should consider the facts, if Insurance companies are paying why the mutual fund industry not paying? Are we not losers?

dear sir, you r right , the AMFi must give consideration to those who r cross 50 year of age or above 10 years of experience, or time limit must be increase to 1 year from the date of expie of ARN

Yes it is a very important point, needs to be suitably taken up with the concernd authorities.the above situation may occur in any bodys life. Moreover it appears, now the validity of ARN is reduced to 2 years, from earlier 5 years period. and s small distributor has to incur training fees and renewal of ARN more frequently, when his income is going down and expenses are going up for conveyance and other things. Under the present situation, can any one take up this profession after spending so much of money. effort needed to convince and bring in new investors. The reports frequently appearing in press, regarding mutual fund AUM coming down. Is it encouragement for the IFAs to take up the profession.

Fully agreed. We should approach AMFI immediately and ask them to make necessary changes. Trail should be paid in any circumstances.

I would like to share my experience about the operational issues. Nobody seems to be accountable for the delay in issuing the NISM Certificates, without which CAMS wont accept the renewal application. I failed to understand why they cann''t accept the mark sheet issued by the exam center. In my case, my expiry was due on 30th Jan, 2012. I appeared for NISM on 24th Jan and cleared it. NSE took good 26 days to send me the certificate. On 19th Feb''2013 , I finally got the certificate and submitted the renewal application. As I write this, I am still waiting for my renewed ARN card. The CAMS people keeps saying that they take 15 working days for processing. In my case it is already more than a month! And still counting.

AMFI must permit voluntary discontinuation of IFA who has served 15 years or aged 65 years.If a person is sound enough he will work.But this choice should be left to ARN holder in which case he must be paid trail commission.This is practice with L I C of India.

I AGREE. THERE SHOULD B SOME RELAXATION, I ALSO FEEL. FAILURE TO RENEW IN 1ST ATTEMPT SHOULD NOT B TREATED SO HARSHLY.

Dear friends/sir/mam, I agree to ur reasonable , understanding contentions fully....amfi is making this biz difficult for IFA & Individual sub_brokers....''coz this biz doesnot remain cost effective... hope they understand our difficult situation .. jitendra mayekar

CAN we not approach a suitable forum like courts etc SO THAT AMFI is advised to check before issuing CIRCULARS. It should first obtain views of the affected parties, and then after COMPARING WITH EXISTING BUSINESS PRACTICES IN OTHER FINANCIAL SERVICES LIKE INSURANCE, DEPOSITS etc only implement it.

YES! AMFI SHOULD CONSIDER THE EXEMPTION AND CONTINUE PAYING TRAIL AS LIC DOES. TRAIL IS THE ONLY SOURCE OF INCOME TO SOME OF THE ARN HOLDERS. NOT PAYING TRAIL IF ARN IS NOT RENEWED IS NOT JUSTIFIED. AS IT IS WE GET VERY SMALL AMOUNT OF COMMISSION UPFRONT.

suggest the followings for policy-makers: a.arn holders with 10 yrs of experience b.arn holders with high qualifications like MBA Finance, PGDFM c.arn holders above age 55 yrs and working for more than 5yrs be exempted from either NISM exam or attending refresher program. Let them pay fee and renew the arn. continuous education or updation in environment could be effected thru regular bulletin from AMFI to all valid arn holders.

An appreciable point which you have tried to bring to the notice of the policy makers. It is urgently needed that the policy makers be realistic in their approach and have good home work done to study the pros and cons, and effect the policies floated will have in long runs, before floating / bringing in policy. When the Govt. is trying to see that the aged and the disabled are provided with the old age social security, AMFI is trying to snatch whatever is possible. An IFA, who has been serving the industry for years sincerely can not go on doing the same till his death. IT does not mean that he should be deprived of his legitimate dues /gains which he has strived for years to earn. We sincerely hope the good sense prevails and the point is taken by the policy makers in right spirit and an appropriate policy to accomodate the above is floated. Thanks & regards to every one involved in anticipation.

We 100 percent agree with the harshness of the circular.May AMFI reconsider the whole issue in light of the current inflationary conditions prevailing In the country.

Fully Agree

Getting AMFI Renewal has become very combursome. It is necessary to get 2 Day Training or pass an Exam. BUT GETTING AN APOINTMENT IS very Difficult. The Day the same opens it is FULL.

I do agree with the problem sighted by writer. However, I think most of IFA would agree about the knowledge gained during renewal (CPE) training, it is also necessary as the same keeps IFA''s knowledge update in frequent regulatory changes, further many IFA''s get to interact with each other in such training sessions. However, I look the problem in allowing Corporate agency to Banks / other Institutions who do cross selling, as the person dealing with customer on counter keeps on changing, it has higher chances of mis-selling. from my experience in MF & specially in Insurance, i have come across various situations where the investor has bought investment plans just to please bankers and maintain relation with them.

I fully agree.

I fully agree to the view of this comment

the total comments are right we are hard working for business in our area we 1st give the knowledge to customer guide them then take the small sips and giving continue service to them . today is the period when we go to customers we get very little brokrage and high expenses then such like things arn holders to have give permanent licence or 10year experience based we tatally agree with you

Dear Mr.Pradip Kr Goyal, as per the current law, if the ARN is not renewed even after 6 months from the date of expiry the commission will be lost forever.

I fully agree with the views expressed by Savithri. Besides the problems mentioned by her there other other difficulties as well. Firstly for attending Refresher course due to limited batches with limited capacity the availability of the course takes about 3 months if not more. Secondly it takes about a month to receive the certificate from NISM. After that only one can approach AMFI with renewal request. All this process takes about 6 months. So even if one starts 6 month before the expiry of the licence he will not be sure to get it renewed before expiry. AMFI should do something to curtail this time gap also.

The step initiated by AMFI/SEBI is right so that the people who are not really interested in this profession and are interested in earning a fast buck will slowly disappear from the seen. However, as suggested, there could be some consideration for the individuals who are doing the business seriously over a period of time and are aged above 50 from appearing the examination or refresher course. Hope justice will prevail upon them. At the same time this has been necessitated by AMFI/SEBI as a result of the wrong advice/selling adopted by some unscrupulous advisors.

I totally agree with you. Earlier there was a no exam for senior citizen and licence was given for 5 years. Now exam or refresher course is compulsory with heavy renewal fees to avoid small distributors

I AM FULLY AGREE WITH YOU

Yes I agree, this had happened to one of my distributor friends MR ATUL MISHRA, he was suffering from acute diabetes and was not able to see, he was unable to give the refresher course and due to this his ARN was not renewed, He went to AMC And registrar but nobody listened to him. AMFI do not think of the IFA

I agree with all above views. If new entrants are being allowed with subsidised fees why should we pay 3000/- when already the market has become so tough.

I agree

"AMFI cancels “the entire trail and other commissions” of the business done until then, if the ARN is not renewed within 6 months, from the date of expiry of ARN." Please clarify that the commission so cancelled will be lost forever or it will be paid once the distributor passes the exam and renews the ARN.

I am agree for above. Even Distributors are experienced enough for get rid of these formalities.

I Appreciate your views. Sachin Walavalkar.

AMFI behaves not only like a toothless but also headless tiger by not thinking thru the entire process. Neither does it at most times strongly present the distributor communities issues to the Finance Ministry and Government regulators. After all it is not a regulator but and Association!!! Wonder Association of whom and for what, if you can not articulate the community members views?

Sorry mam, I beg to differ. Your article appears to be extracting as much as you can without any commitment of business or contribution to profession opted for. In that case we can not expect accountability from fund managements too. AMFI formed some rules. there is ample time specified in that. Case to case basis one can raise representation to AMFI similar to what u wrote as accident situation. But as old person u can not expect and extract every thing. In that case such persons should have Govt. caretaking or their children taking care of them or they themselves saving enough for old age. Please, i rather all of us with self pride to expect that IFAs should take up genuine, reasonable points and contest them rather than playing sympathy card. we have selected the profession and nobody dragged, forced us to join it. No profession runs like that. And if AMFI has to consider all what u have stated there will be thousands of ARN applicants, knowing well that their old age will be taken care for by AMFI. Every thing is time bound in life we must remeber it. Forgetting is no excuse.

Fully agree with your line of reasoning. Hope AMFI is obviously partial to the big players supported by the members of AMFI. A big shame. The big players already control the markets. There is a dire need to increase the numbers of small players so that their combined impact reaches the level of the big players. If any thing, they should be encouraged and give additional benefits. The customers need to be educated about dealing with the small players. My experience tells me that the big brokers are pressed into meeting targets - means then becomes a secondary issue. My first hand experience before I got disgusted and went in for went for my ARN which is now expired and all the commissions are stopped!!!

Agreed to your view, Let represent this with AMFI

very strong and valid point.we appriciate that regulators always try and ensure to protect the investor/consumers.we demand that theagovt and regulators take care of our interests too.There is no social security system in place for mf distributors as it is availabe to lic agents.This is one of the reason why young educated people don''t perceive it be a great carrier option.And the mutual fund distributors population is not growing and so also the industry.There must be some godfather clause for those distributors who have completed 50 years of age and whose carrier has been spotless.

Definately it should be! So that we people feel safe in this Industry.

As i have said earlier AMFI is not a body of Mutual Fund industry as a whole but is body of few parts of the industry i.e AMCs and few brokers.It has never seen interests of small and hardworking IFAs. What help AMFI has given to IFAs at the time of renewal? IFA is never informed about the renewal date.He himself has to remember renewal date.There was no communication from AMFI regarding the guidelines for renewing ARN card.Only communication was about the hike in FEEs. If mutual fund industry has to grow,AMFI shall have to change its mindset.Otherwise industry will die its natural death prematuredly.

DEAR ALL I F A s, yes I agree for the points taken up for discussion. If at all they need some type of Refresher course / Knowledge up date for enabling for m f distribution, they may allow for online Tests so as to acquire or to update knowledge like 25 hours 7 days I R D A INS LICENSE RENEWAL. EXERCISE. OK BYE ERODE N S B ARN 14933 AGE : 59 RUNNING.

I agree with majority of the views. Its high time Amfi wakes up to our appeal & amend the rules. Max they can ban an IFA who has not renewed for his/her own personal reasons getting new clients if they want. Why should be deprived of trail commission or any other commission for that matter ? IFA ''s efforts should get his poor commissions even for ongoing SIPs ( these are done normally on a long term basis) &additional purchases made by his existing clients quoting arn no.This will keep both client&ifa happy since they can be in touch & continue do his limited operations. We build good relationships on a long term basis not based on our arn no.Too many unwanted rules & regulations only goes to spoil the MF industry as its already happening. But i have no hopes that AMFI will ever look into our appeal.

Even if you give the application for renewal with in a period of 6 months the same is not renewed by the Cams. I have submitted the application on 4.1.13 with Amfi and after 41 (i.e after the lapse of 6 months) days I have heard from it that there is a change in My Name from Rachita Mehra to Rachita Wadhwa and you have to submit marriage certificate. I have submitted the Wedding Card, but they have not replied yet. Income Tax department has changed my name from Rachita Mehra to Rachita Wadhwa while accepting Wedding card, but sorry Cams is not accepting. I have contacted Cams Madras so many times and sent even mails to Their GM''s at chennai and Madam Ritu Kaura at Delhi. but no solution is found. So I am not receiving my renewal commission , due to deficiency in service at the end of Cams. What is the solution

I agree with u 100%.

I agree with your suggestion. I am past 65 and people like me cannot be as mobile as we used to be. Amfi must exempt those who have completed 10 years of service and completed 58 years of age as in the case of regular service. As an insurance and mutual fund insurance IFA I totally depend upon this income. Amfi should be more humane in its policies.

VERY GOOD MOVEMENT, SEBI IS NOT INTERESTED TO GROW MUTUAL FUND INDUSTRY ( MR BHAVE -EX CHAIRMAN ).AND NO IMPROVEMENT TO ENCOURAGE ARN HOLDERS BY EVEN MR SINHA.ARN RENEWAL REPORT PROVE THE SAME THING.

Absolutely right. In Girls cases also so many girl are not able to work after marriage due to in_laws liking/disliking or maternity also.

i totally agree with you as now renewal has become costly in compare to incentive we receive annually and they must give examptions to senior citizens.

I am very much agree with you but there should be no stoppage of trail commission of the investment for which he tried a lot.Whether he clears the renewal exam”or Refresher course or not. He must be paid for which he tried his best for the investment. There should be no bar of business experience of 10 years or above. If some body is giving the business,he should be rewarded till the last installment of investment. Thanks

100% agree with the views expressed by T V Savithri. Apart from this there should not be compultion pf ARN in case of nominee to recieve commission

I hundred percent agree with you, we urge AMFI should look the matter and consider it.

100% agreed........

i agree with above comments mention by Mrs T V savithiri , AMFI should consider this above suggestions at earliest possible for the distributors welfare

This is ultimate to distroy the small Mutual Fund Brokers. This is one of the dis-encouraging move.

If anyone have course material on mail for Mutual Fund Distributor exam, please send me the same on arunoday.1@gmail.com. Thank you.

Madam, For ur kind info, almost all amc r asking for the ARN card for renewal copy to be given for further payment of brokerage. Even after giving the refresher certificate and arn card recpt they say it is there rule. When I approached the cams for ARN card renewal for jus a 150000 holders across India they say they take 1 to 2 months time for card reaching us. Then v will hv to submit the same to all amc to get our brokerage. I do business only for M F industry I do not know how to cross next month since my ARN card is getting over this week end. Oh lord Rama come back now and save me.

Dear Ms. Savitri, You hope in vain....you want AMFI to give exemptions to 50 year olds. We , both husband and wife are in our seventies and still went through the refresher course well in time. Its AMFI whch is defaulting. We completed the course on 14/15th dec 2012, Sent registration Form with demand draft to AMFI on 29th Jan 2013. OUr date of validity of ARN card is 01-03-2013 today is 19-03-2013, but AMFI has not yet sent the renewed ARN card to us, in spite of various reminders to them over the net as well as over the phone.Almost two months have gone by , but AMFI has not been able to cope!!! Now what options do we have , other than to wait helplessly while AMFI merrily turns a blind eye and a deaf ear to our situation? We lose out on all fronts..commission from small Savings, PPF have ceased, and now this too will cease............our work of over 20 years goes down the drain. The trail and PPF commissions were like the AMFI Agent''s [Senior Citizens'']pension, but they have been snatched from us ruthlessly.Its all the more difficult cause this comes at a time of life when medical bills mount and energies fall. Certainly , in the interest of fair-play and justice, someone high up in the AMFI heirarcy needs to urgently re-look the rules.

Yes I totally agree

Who inspired to take harsh decision against ARN ? UPA Govt policies are responsible for it. They want to financially kill the middlemen. Corrupt cabinet ministers and bureaucrats have filled their personal coffer through 2G scam, Coal Gate scam,AgustaWestland deal etc. Unfortunately our Top Leadership is crippled. They are aware that they can''t do anything against these ''crocodiles'' and can''t get back money so the ''recovery'' must be must be done from those who are weaks. First they targeted Mutual Fund''s ARN (Upfront) then P.P.F. commission and again this harsh Law introduced to Kill middlemen. Can we file a petition against it ?

Thoroughly agree with all the points raised by you. If we leave few people to draft regulations like this without proper participation of all stake holders, such small –small nuances will left unattended and bound to cost us dearly in long run. I urge all IFA associations to take up issues like renewal, stoppage of brokerages on flimsy grounds, nominee rights and legacy and more such issues. Regards,

I totally agree whatever has been written hereinabove.

intimation from amfi must be send before 6 month of expiry copy to be circulated to all fund houses , so every body will take care for the renewal of agency

In LICI,We are well in advance advised and reminded of renewal of the licence where as neither AMFI nor the mutual funds have the habit of informing us about the renewal date. This also adds to the injury under the above mentioned conditions of a ARN holder. I also stronly feel that the method and rules followed in LICI should be followed here also.

February 2012 I had a stroke and things changed. My speech and my right side was affected. My ARN was due for renewal 3 Oct.2012. Luckily I have recovered after a few months thanks to my wife''s great care and determination. I then studied the NISM book thoroughly and appeared for the exam a few weeks before the expiry date and succesfully renewed my ARN. Now if this had happened to a person and if that person did not recover what would be his fate ????? He would stand to lose all his trail commissions when he would need it the most !?!!??

i had given exam on 16th feb. for renewal of my arn which i passed. but i have not received my passing certificate till now. cams says they will accept my application for renewal only after receiving passing certificate. my arn is expiring on 4th april . i fail to understand when online scores are available just after completing the exam what is the need for passing certificate and wait for months just to get certificate . this is nothing but harassment to ifas.

We need to find an alternative to AMFI which is only harrassing the small IFA''s and working for the big corporates and financial institutions. AMFI does not know the pulse of small distributors. I am really concerned about the points raised above, as these are valid issues. The procedure is cumbersome, costly, time consuming, taking lot of time and duration of renewal reduced from 5 to 3 years now. This is really absurd and unacceptable. All small IFA''S should join and resist the harrasment which is not tolerable.

I find the lines here is written with sweat and blood of IFAs. Why this industry is making the lives of distributors so difficult ? I always think about it. We IFAs are approaching the public with one of the most beautiful financial products. Yet , all authorities are making everything possible to make our lives worst. What a pity !!!

Really these are very much burning points to consider old age,physical disorders genuine conditions of all those who has/have lost their lively hood only because of merciless orders of the SEBI and/or the govt.These harsh orders may be looked into as those of IRDA''s instuctions.

My ARN renewal is under process with CAMS from February 11, 2012 after my application was delivered on February 05, 2013 to their Delhi Office. There is no response from CAMS or AMFI to advise me when the renewed card may be expected. In the meantime payment of commisiion has been suspended as the old ARN was valid upto Feb 15, 2013.

this is absolutely correct and expresed concern over thousands of individual agents. Every new rule is in favour of coporates and corporates can only follow these orders with out break and fail. this is one more nail on MF agents.

IF U COMPARE INSURANCE RENEWAL N AMFI RENEWAL. IN INSURANCE WE PAY 250/ N UR INSURANCE COMPANY ARRANGES ONLINE TRAINIG OF 25HRS WHICH U CAN COMPLETE SITTING AT HOME. WHILE FOR ARN RENEWAL REFRESHER COURSE FEES OF 3500/ + ARN CARD FEES OF 2500-5000. AND IF WE REALLY SEE TODAY INSURANCE PRODUCT SELLING GIVES MORE CONSISTANCE REVENUE TO AGENT AS COMPARED TO MUTUAL FUND. IS THERE ANY INCENTIVE LEFT FOR IFA TO SELL MF PRODUCTS? CAN AMFI GIVE ANS FOR THIS QUESTION?

I agree with contents. I am a retiree and it is not possible to attend test for re newal or attend refresher course due to age factor. My all the commission due payments have been stopped due to renewal reasons. AMFI must take lienient view in this regard to enable us to continue.

WHAT T V SAVITRI HAS WRITTEN IS 100% CORRECT I M DOING MF BUSINESS SINCE 30 YEARS MY AGE IS 63 YEARS AND I AM SUFFERING FROM JOINT PAINS HAVING A AN EXPERIANCE IN 30 YEARS IN MF INDUSTRY IS IT NECESSARY GO FOR A TRAINING IN INDIA FOR RIGHTHAND ONERULE AND FOR LEFTHAND ANOTHERRULE AMFI SHOULD CONSIDER AS ON HUMANITARIAN GROUNDS

Why this exam and refreshers course for distributors who are already well experienced and already brought huge business for the AMC''s. In LIC & General Insurance the training already given in the monthly meeting is enough for renewing agency. But here in mutual fund distributor is always getting training and product knowledge from AMC regularly and this is not at all considered for ARN renewal. I think all this exam and refresher course is to help somebody for their survival and not for the benefit of distributor. This is the difference between LIC and Mutual Fund, where the LIC stands in a very top position in business compared to Mutual Fund Industry. If Mutual Fund business want growth in India AMFI should avoid this type of issues to safeguard ARN holders, so that lot of people come in this industry for marketing mutual fund business.

EVEN THE WORKERS WHO WORK FOR DAILY WAGES GET ALL COMFORTS... BUT WITH THIS PROFESSION, WE HAVE A DIGNITY IN SOCIETY... DAILY WE SPEAK OF LAKS AND CRORES, BUT WE SEE ONLY PAISES IN OUR STATEMENTS... SINCERELY WE BRING THE CHEQUES, AFTER CANVASING... AND DEPOSIT WITH CONCERNED AREAS... BUT NO ONE BOTHERS ABOUT IFA COMMUNITY"S ... "CLAW BACK, NO COMMIISSION AFTER CERTAIN AGE ETC" WHAT FURTHER ATTACKS....?EVEN GOD IS PUZLED I SUPPOSE., PEOPLE ,U KNW, MANY BANKS THEY CANVAS THE BUSINESS AND LATER THERE IS NO FOLLOW UP... BUT THE IFAS, THEY DO PUCCA JOB OF GETING THE INVESTORS ALL THE SERVICE AND SUPPORT.... PREVIOUSLY WHOLE HEARTEDLY WE WER WORKING. BUT TODAY THE HEART CRIES..... OUR GALAXY SHOULD SUPPORT THE SICK OR THE OLD AGED PERSONS. WE HAVE THE MERCY IN OUR HEART... NOT LIKE OTHERS.....

i agree with the suggestions

TRUE sir i had given exam on 4 feb and passed i thought that i would received certificate within 2 to 3 days but i got certificate on email on 27 feb (23 days ) after that i had submitted on 28 at cams for renewal but today (20 days )18/03/2013 it is still pending as my arn expired on 22 feb 2013 god knows that i will get commision on bussiness done or not ? this is the process , time amfi is taking dont know how long to wait ?

AMFI must consider this issue and act in favour of the concern raised.

I also feel the same more so because i am a senior citizen 67 years of age.Also the amount to be paid for the renewal is on the higher side. Previously AMCs were conducting Refresher courses at a nominal fee.But unfortunately that is not the case at present.

I agree with the concerns expressed. Commissions should be made payable compulsorily as LIC does. The effort to mobilize funds should not be terminated unless there is some misconduct or complaint or change of adviser made by the investor.

I entirely agree with the suggestions.

You are so right Mrs. Savithri. Not sure if such clauses of renewal is applicable for other professions, its indeed a cause of worry on withdrawal of commission on non-renewal. We all should make a representation to AMFI/SEBI.

Sir, I agree with views expressed by Ms. Savithri. There is another dimension of the unjustification by AMFI also in ARN renewal. I had completed 10 yrs in this service and to renew my ARN 4299 I attended the exam conducted by NISM well before 6 months as stipulated in 6th & 7th,Oct 2012. The NISM certificate was received just after 1 month. And applied for renewal of my ARN by AMFI on 31st. Dec 2012.The NISM certificate itself curtailed the period by 6 months. After hectic follow up I recd the renewed ARN card. To my surprise I found that my ARN was renewed only for 2.5 years instead of 3 yrs. My previous ARN is getting expired only on 23rd March 2013 and renewal date should logically start only from 23rd March 2013 for 3 yrs, i.e: till 23rd Mar 2016. But actually my renewed ARN gets expired on 15th Oct 2015. When I took up the matter with AMFI, there is no response. MY grievance was given to CAMS, Chennai under acknowledgement. The people in AMFI, Chennai are so lethargic, they do not bother about the injustice done even after making written complaints. For this they charge hectic fees( the actual cost of he cost will not work out more than Rs.250/- Is the AMFI is trying to mint money at the cost of helpless distributors in collution with NISM? Will any authorities help me to sort out this issue? It is NOT AT ALL JUSTIFIABLE AND CHEATING THE DISTRIBUTORS. MY ARN No: IS 4299. Regards

Thank to aware himself

THIS IS ISSUE ONE TIME ONLY NOT SHOULD BE RENEWAL LIKE DOCTORS, ENGINEERS,CA,CS,CWA AND OTHERS. Thanks

What do the AMCs do with the commission thus not distributed? in what way will it help either the investor or the AMC?

There should be automatic renewal of ARN over 55 years of age.

This renewal procedure is total disregard to the service that IFAs are giving to the MF Industry, they are the backbone if MF industry. I fail to understand, what is the use of `Nominee'' in the IFA empanelment with the AMCs. We must protest strongly, so that AMFI makes renewal conditions reasonable.

Mr Vivek is absolutely correct. You will notice that all the new notices moved by AMFI shift all the liablitities and onus from funds to IFAs. Brokerages are paid on trail basis, but if the investor decides to withdraw his investment, claw backs apply even though the fund has recovered their expenses from charges recovered. Be ready for progressively retrograde decisions from AMFI which are one-sided. We IFAs have no representation and as proven in the recent past, they will implement one-sided rules. If you are ready to adhere stay on, else quit. They do not provide any service, but use their authority to milk the IFAs, eg the fees charged. It is obvious that AMFI is a closed club and acts as such, else they would have had distributors represented on their Board. There are no PR Directors also to take care of the interests of the investing public.

Sir, My ARN No: is 67623 and is expiring on 19th Aug 2013. I would like to renew my above ARN. I would be thankful if you can let me know if there are any classes coming up near Coimbatore, Trichur so that I could enrol myself and get the ARN renewed for a further period. I would be thankful for your help. Also please let me know if there would be any issues in renewing the ARN. Thank you once again P K Ramanathan

Good suggestion. It is not correct to deny the benefits like trail commission to ADs who choose not to renew the AMFI Regn. and decide to retire from this occupation. or who are unable to continue in the profession on a/c of personal circumstances.

!00% correct

AMFI is anti IFA organisiation, very sad thing is that SEBI is falling pray to wrong advises from these people. I urge all the advisers to stop co-operating with the manufactures and their association.

Well said Savithri and kudos to you for the thought. I am 70 years and still continue to work, but as you rightly said at this age anything happen and AMFI''s harsh law will make my family income-less. In fact AMFI should come forward and make exemptions for senior citizens on renewal issues. And for accidents, illness etc. mentioned by you, there must be exemptions for completing the formalities at a later date when the IFA concerned is back to work, provided he submits medical certificates to prevent fraudulent methods. Your point relating non receipt of renewal certificates/cards is absolutely true. I, along with my son, completed our 2 day renewal training course in the first week of December 2012 and till date we have not received the renewal cards. It is shame on AMFI that their inefficiency is costing people like us whose commissions are with-held. AMFI needs to answer as to who will pay for the agony and financial problem being faced by the IFAs due to the total inefficiency of AMFI. During the intervening period, both of our certificates expired on 15th February 2013 resulting in with-holding of commissions which are more than Rs. 1.50 lakhs. Is AMFI listening - they may not because they are deaf.

It is good that AMFI want to do safeguard the interest of the Investors but they should not do it in this way. Request AMFI to consider the issue.

that is to true if we give work hole life in fincale sector can be assured to amfi we work hard as other employed or govt and pvt ltd who take some pansi on but we can be this why why

It is really a painful situation when we hear the message from the respectful elder women struggling to get her trial commission for survivul. When AMFI / SEBI is ready to welcome the RETIRED PEOPLE to take ARN CODE by reducing the fee, why can''t they give any exemption for the existing ARN HOLDER who has been doing business for all these years when she is not in a position to attend exam / refresh course. Protecting Investor''s interest alone not the duty of the regulator at the same time protecting the really suffering aged genuine ARN HOLDER''s also the duty of the regulators to see the mutual fund industry to grow.

Fully endorse your views.

AMFI circular on stoppage of trail on non renewal of ARN is not only merciless but also unjustified. We should seek opinion from the legal expert whether this lopsided circular can be challenged in the court of Law. One can''t be deprived from his legitimate income. In the mean time All arn holders should write to AMFI/SEBI letter in protest of the circular. Be united - raise voice.

AMFI must seriously give a proper thought to this issue

it is unjustice with IFAs.we should jointly oppose and even go to court against all these unlawful circulars.

Problems faced are 2 many.sebi curbing ifas with regulations etrimental to mg industry.

Fully endorse your views. We all concerned should make joint, serious and diligent efforts to have some active member pursue this with AMFI and other bodies. Best wishes.

Very good point hope they do have some consideration

Yes, Whatever Savithri says is right, We IFA''s should get united and fight for our hard earned money.

Thanks a lot Mr. Vijay !

The points made by Savithri are well taken. But friends while fighting for our rights & survival it is equally important to understand that we have to remain abreast of latest developments by way of products, knowledge & the regulatory frame work. The only way out is refreshers. Yes, instead of 3 it would be better at 5 years & most important the fees imposed are prohibitively high while earnings are going down. This anomaly needs to be corrected & the powers that decide this need to be more pragmatic & encouraging & not create high entry barriers by exhorbitant fees. Are they listening? Please note, no refreshers & you get weeded out automatically. So lets get strong & learn continuosly.

We forwarded this issue to Mr. Harshendu Bindal, CEO, Franklin Templeton Investments and Chairman of AMFI''s ARN Committee and susequently spoke with him. He has assured us that he will definitely take this issue up in his committee''s next meeting, which is scheduled for next week. We hope the Committee will find a good solution to this genuine concern. Will keep you posted.

Completely agree & stands with you.

SWAYAM JAGO TABHI DESH JAGEGA. KYA AAP IN CORRUPT NETAON AVAM CORRUPT BUEROCRATS KE RAAJ MEIN YE EXPECT KAR SAKTE HAIN? NAHIN KYONKI YE JAANTE HI NAHIN KI MEHNAT SE PAISA KAISE KAMAYAA JAATAA HAI. INHEN TO BUS FIXED SALARY AVAM RISHWAT TO MIL HI JAATEE HAI. AMFI AAJ TAK EK ONLINE PLATFORM TO BANAA HI NAHIN PAYEE AUR IFA KE FAVOUR MEIN KYAA KAREGI. AAP SABHI SE YE REQUEST HAI KI AAP SABHI EKJUT HOKAR IS KE KHILAAF AAWAAJ UTHAYEN. JAI HIND JAI BHARAT.

yes i absolutely agree with that

Good points, hope they have a heart.

Yes ,,,I am in favor,that AMFI should listed our views on it, age and the situation should be the fact to exempt the renewal process. As most of the people are agree that after working 10 years as IFA, renewal should be exempt.

It is absulatley valid point. We should write to them and if possible arrange personal meeting through our representative. This is really scaring as how we will match two ends in our older age!!

Yes, Completely agree & stands with you.

Very True.

It is very good , my arn has expired on 15march 2013 what i do ?

MUTUAL FUND INDUSTRIES NEED NOT WANT ADVISOR JUST LIKE RETIRED GUARDIANS

I completely agree with Ms.Savithri. Hope AMFI considers the genuine issues raised on humanitarian grounds and addresses these issues

Yes, age should be taken into consideration for renewal of ARN number. For advisors who held the ARN for more than 10 years or reached the age of 60, the renewal process may be exempted, so that they continue getting trail and other brokerage payments, without break. Advisor fraternity deserves this courtesy, at the least!

in the present world the objective of most of the governments is to protect the poor and the weak, people as they become older become weaker. this is by nature. old age pensions and health protections for senior citizens are being offered. but unfortunately we are having a reverse. institution like AMFI or for that matter IRDA under the disguise of regulating or being consumer friendly only take decisions which by default favor biggies. this is a proven fact. we have read in our chikdhood there the motto of the robinhood was rob the rich and pay the poor. reg AMFI or IRDA the polcy is reverse robbing the poor and weak and paying the rich

While I fully agree with the mailer,the concessions given to persons in grandfather category of m.f agents should also be considered.may be mafia need not stop the trails but can say that those agents whose arms have expired and not renewed in 6months cannot get their commons for the new business canvassed by them.

YES I AGREE AND HOPE AMFI WILL NOT TAKE ANY TUGLAKI DECISION TO PROTECT THE RIGHTS OF IFA,S SANTOSH ARORA

Nearing 70 years, I wholeheartedly agree with the suggestion. We should be able to retire without being imposed a financial penalty. Smt. Laxmi S.S.

They must have a rule where if a person is contining in the professional for last 10 years their license must continue without break without renewing it. Does any employee of AMFI, SEBI or any other employee of Govt organisation is reappearing for the exams or interview to continuing services. Does a doctor,CA or and engineers need to clear any exam once they get their own certification/degree. We must raise the voice for our fellow distributors otherwise we''ll be the next to face this. Regards, Tarun Gupta 9818287771

I really feel pity for my fellow distributor for the various reason she has bought out on this forum. It''s an eye opener and need immediate and concrete solution. I am really surprised at the speed AMFI and CAMS work for the renewal of ARN. Both the concerned parties blatantly say we require minimum 15-21 working days to process. First for ARN CERTIFICATE and then another 15-21 days for card. They are not at all bothered, and answer over the telephone is like parrot. Now a days when an important document like PASSSPORT is issued in 15 odd days, I repeated 15 odd days and not working days in most of the cases, then this clearly shows who is working and who is working in whose interest.. The time has come to revamp entire process..otherwise for IFA'' s this is the dying business... Hope somebody listens/understand the plight and overcome there, I mean ( AMFI & CAMS) inefficiencies and provide IFA''s some relief..

Central govt, State Govt, Public and Pvt sector employees when they fall in sick, they avail yearly/annual leave, casual leave, medial leave and other types of leave for regularising their job, Even If they unable to join on duty after availing all types of leave, they produce medical cerificate. On humantarian ground is considered and employees job being regularised. People who involve in criminal or inhuman activities, they approch to the President of India for redressal grivences. Inview of the various factors Mrs T V Savithri,s approach should be considered. I agree with her.

It is really heartening to learn that the Commission earned for the previous business is suspended/ cancell till the renewal is done. In fact I have applied for renewal and CAMS take undue advantage on this point and deelay the process with any proper reasons as well. It is injustice and a great blow to elderly people . we shouls get due justice. Chacko.

I agree with all spesific points mentioned above.Let there be only refrsher programme-value addition sort of seminar once in a month and one should attend minium-6- such sessions.Only obtaining certifiate periodically may not have effective value addition for serving investors It is our experince that investors select senior distributers as advisor, considering length of service, knowledge & loylity to the profession.In view of above I strongly feel that senior citizens/having served in the field minimum -10-years should be exempted from any such exam.

For everything IFAs need a strong national representative body. We must immediately work closer to make this happen soon. Leave all disparities behind. Lets all come together and unite for the common cause. We urge all IFAs to be a member of your local association and remember to support the local association.

I AGREE WITH WHAT IS WRITTEN. I AM NOW 64 AND CURRENTLY VERY FIT. HOWEVER, FEAR FOR THE DAY, ESPECIALLY WITH THE FEELING OF LOSS OF INCOME. AMFI HAS TO BE BROADMINDED AND ACCOMODATIVE. AND SHOULD THEY NOT THEN DECISION MAKING POWERS SHOULD PRAY NOT TO GROW OLD AND THAT AGE THEY WIL NOT HAVE ANY SYMPATHISERS. A CAMPAIGN WILL HAVE TO BE ORGANISED TO DRIVE HOME OUR POINT.

YES I AGREE WITH YOU .I HOPE AMFI WILL DO NEED FULL

we can make a mass representation to exempt senior ARN holders or medically sick ARN holders , from attending the refresher courses.

WAHT EVER Ms.SAVITRI HAS WRITTEN ABOVE I AGREE AND I WISH TO GET MY COMMISSION WITHOUT RENEWAL EVERY YEAR. OTHERWISE, IT IS RISKY PROCESS. THANK U ABDUL MAJEEB PASHA SHAIK +91 9849647800

i fully agree with the concerns made. I think this is a part of conspiracy made by few AMC to siphoned off the legetimate due of the the broker who has built up considerable AUM in his working age in a hope to get trail during his retirement. This is also unjust to a lady broker who got married after few year and could not renew her ARN for so many reasons.

I fully agree with the concerns made. I think this is a part of conspiracy made by few AMC to siphoned off the legetimate due of the the broker who has built up considerable AUM in his working age in a hope to get trail during his retirement. This is also unjust to a lady broker who got married after few year and could not renew her ARN for so many reasons.

THE LAW MAKERS ARE NEVER UNDERSTANDS THE GROUND REALITIES.THE IFA COMMUNITY ARE REAL WEALTH CREATOR OF INDIA FOR THE LAST 25 YEARS. WE CAN CALL THE IFFS BROKER SUB. BROKER, AGENT REFERAL AGENT AND ETC., IN THOSE DAYS THE LIC ,UTI AND OTHERS BUILD THIER BUSINESS THRUGH AGENT FORCES. EVEN NEW ERA FINANCIAL PRODUCTS MANUFACTURES ARE DEPEND ON AGENCY FORCE. IN INDIA THE DOCTORS, ADVOCATES, CHARTERED ACCCOUNTS AND OTHER PROFESSINONAL NEED NOT REQUIRED THE RENEWAL OF LICENCE. BUT WEALTH CREATORS OF THIS COUNTRY NEED CERTIFICATES FOR EVERY CHANGE PROMALGATED BY THE AUTHORITIES. MY DOUBT IS WHETHER THE GOVT AND OTHER REGULATRORY BODIES NOT IN FAVOUR OF INCREASING SAVINGS HABITT. THEY INDIRECTLY INDUCED THE PEOPLES OF THIS COUNTRY TO SPEND AND WELCOMING THE MNCS TO KILL INDIANS SAVINGS NATURE. GOD ALONE SAVE OUR COUNTRY AND OUR PEOPLES.

AMFI should consider the case sympathetically. Further, I would like to say that IFAs are self-employers, they work hard for livelihood, has to travel to odd places, run to deposit transactions in time, do not have fixed time to eat the meal, has to take outside food and water which is costly or unhygenic at times, also many times are prone to accidents. The hard work put in is in anticipation of trail commission in future. Nobody should deprive it in whatever manner. Till the investment is continued under a broker code, the trail commission should be a RIGHT. The Operative Business Model should be like THIS ONLY. exceptional rights to Regulators should be in cases of malpractices or frauds done by IFA and not any other reason.

While AMFI wants to encourage new set of distributors, they should not let the existing set in a lurch.Age and other reasonable factors should be considered on a case to case basis. Also kin of ARN holders should get trail commission as long as the assets remain.To get this/or protect this we should do whatever possible collectively.

the whole concept of renewal of ARN should be done away. In no other industry, such a practice exists. Do bank officials write any exam periodically to be in the job?. The huge sum collected by AMFI / SEBI in the name exam/renewal etc is going to fill the salaries of top brass who donot have to write any exams. it is also not doing service to ARN holders.

I fully support the cause raised by Ms. Savithri. Can we all submit a request to AMFI and SEBI collectively in this regard?

considering the geninuness of case , AMFI will have a relook on the stand

Expecting the regulator to be humane is bit too much. Specially when their salaries are fixed and post retiremnet pension is also linked with cost of living index. Actually the issue, in my opinion , should be taken up politically. Regards

Dear Sirs, The case of Mrs Savithri Madam is highly genuine. The Regulator has to do take note of this made some amendments in their rule of law to safeguard the interest of the old aged ARN Holders sove that they will get their trail commissions for their bread till such time they live in this world. Hope, SEBI or AMFI will have ears to hear such redressals. Regards, C N ANNADURAI

Sure makes lots of sense. AMFI should consider and have the power to veto the IFA from these kind of situations.

AMFI and SEBI are making too much of unwarranted fuss and noice. Their Directors and chairmen are not affected even if the business does not flow or Mutual Funds wind up their establishments as done by Fidelity. Proffessionalism is seriously lacking. The posts are all ornamental characters and loss to exchequer. . If Mutual Funds have to come back to its past glory, it should be brought out from SEBI''s fold !

Yes. AMFI and SEBI should consider and exempt the very seniors and sick individual IFA s from appearing for training and /or exams.(ie senior Citizens need not pass AMFI online exams.)

I fully endorse views expresses by senior citizen ARN comrades. It''s pity SEBI and AMFI to show they are authority brings in bottlenecks and hurdels in the path of MF investors, agents and distributors. We have worked very hard to bring MF at prosperity and reckoning level.Which is now on death bed. I see very bad future for Trading industry if SEBI and AMFI works like supercop.

FULLY SUPPORT THE VIEWS OF Madam Savithri of Hyderabad regarding the plight of the Aged IFAs. How can regulators or law makers be blind to the concerns of IFAs constantly in each of their so called reforms!

Fully support the suggestion re: Senior Citizen NOT taking compulsory exams for renewals etc. Hope this can be pursued diligently with AMFI. Best wishes. Arun Bhasin

After a certain age e g Govt approved Retirement age these benefits ie trail commission should continue for life and thereafter to the nominee who may or not be ARN holder. Also the requirement of CPE must be waived off for distributors/advisers who have worked for more than say 25 years or have attained retirement age.

AMFI should do something for a person who is seriously ill due to obvious reason could not attend the CPE and renew his ARN. An ad-och release of trail commission is to be paid to him under this condition he should be exempted in CPE and renewal of ARN to be done with a condition that he can not do any fresh business until he completes his CPE but consider paying him the renewal commission by renewing his ARN

Mrs. T.V. Savithri is cent percent correct... Mutual Fund has to follow Life Insurance system... Earlier, ARN Licence used to expire in five years and now AMFI has reduced it to three.. Only God knows what happens next... may be reduced to 1 year and we have to appear for AMFI Test/Refresher course every year...

yes i am strongly agreed with yr view.

Whatever the points raised by Mrs. T V S Savithri is a genuine concern of every small mutual fund distributor. The Industry Body/regulator should give exemption from Renewal exam/Refresh course to the senior distributors and the distributor who are bed-ridden. We all know it is one of the very serious issues and unresolved one from long time. Are the IFA associations putting serious efforts to resolve this important issue?

many times I think why I am doing this business (of mutual funds). Personally I don''t like traditional plans of LIC, I like to invest in mutual funds. But as a agent of it is something different. In LIC if I am procuring any client I am assured I will get continuous commission on it (till he pays premium). Then why rules are different in mf. Still selling mf to common people is very difficult. They try to see its value every day/month. they are ready to pay lic premium 20 years and will not ask value, but don''t tolerate erosion in mf schemes. We counsel them, assure them, educate them about market and what we get ? always a fear about our own future as rightly said by savithri. AMFI should clearly check this. if any distributor leaves still he /she should get trail commision as he/she has done efforts for procuring it unless and until investor initiates a request for change of broker.

Posted by Vinodkumar Shah on 2nd march 2013 .Yes I am agree with your views. For weaver of renewal of ARN after of sixty years.No exam and no refereshing cources.Only renewal fee is applicable. All valid commission should be paid as long as clients remains with ARN.If business is stop due to any valid resoans it shoud be paid to his Nominees.

yes I''m agree with your views, trail commissions should be paid as long as investments are held with ARN even if one stops the business due to any reasons and if he expires then it should be paid to the nominees of arn holder.

yes I agree with your views, trail commissions should be paid as long as investments are held with ARN even if stops the business due to any reasons and if he expires the it should be paid to nominees

We are destined to be governed by incompetent parties and we must learn to live with this fact.The Chidambaram''s and Manmohan singh''s have turned out to be big disappointments as they are in the sole pursuit of power only,no matter what the price and bureaucrats are hand in glove with them...that''s it!!!

I fully agree with the idea.

Sir, It is fair to voice your concern on behalf of individuals who face practical difficulties because of which their source of income gets affected, specially in difficult times or in old age. The points given for exemption from exam writing are quite a practical approach in solving the issue. Thank You

It is a big question mark? It is a very important point raised by Mrs Savithri. Central Govt. State Govt. and Public sector employees when they fall in sick and unable to join duty for years long due to medical grounds, still they get all the benefits like salary and promotion ...etc by producing medical certificate. Also those who commit criminal offences they also excused by the President of India. Here IFAs are not doing such things.

A very valid point is raised by T V SAVITHRI. Things should be like this:- After working for some fixed n number of years if someone does not want to carry on his/her business of mutual fund distribution by not renewing his/her ARN number, he or she can not canvass new business but trail should be paid to him or her. This case can also be presented as under: After the death of an ARN holder,is his/her nominee have to qualify for getting his/her ARN updated every three years for eligibility of renewal? All of us have to raise this question?

How to kill the golden goose? SEBI is very good at that.

I am 74.5 years old and have an exeprrience of 18+ years in Mutual Funds. Iwas not able to renew my ARN Card which expired pm 1-2-2013. The rules have changed hence I cannot attend the refresher course. On one side SEBI wants more distributers and not giving chance to experienced distributors to continue in the bussiness. God save SEBI and its policies.

ALL OF U POINTED OUT CORRECTLY. BUT THERE IS NO POINT IN WE COMMENTING UPON THESE ISSUES. NO ONE LISTENS TO US NOR WE ARE UNITED TO CHANGE THE SAME. ULTIMATELY, IT IS BIG DISTRIBUTORS / BANK / SEBI, THAT WILL PREVAIL AND RULE THE GAME. WE HAVE TO CHANGE OURSELVES. SINCE THERE ARE ONLY 12000 ACTIVE IFA, WE SHOULD TRY TO BEST AMONG THEM. GIVE QUALITY ADVICE, AND CHARGE CLIENTS FOR ALL TYPES OF SERVICES, IF THEY WANT TO INVEST IN MUTUAL FUNDS. NEEDLESS TO SAY, IF THE CLIENT DONT UNDERSTAND THE QUALITY OF UR ADVICE AND FEES U CHARGE, THAN U HAVE MANY OTHER INVESTMENT OPTIONS WITH MUCH BETTER COMMISSIONS.

Dear Friends, How much serious AMFI or any other agency is clear by the following facts. Mutual Fund Industry in India has reached to just 2-3% people with total SIP at 50 lac out which 16 lac SIP were stopped in last one years. The average age of SIP is 1.7 years. Out of 1.15 Lac ARN holders 55000 have done KYD and just 12000 are active. So much for all this whooo haaa. India is a great country. Here the law does not accept the DOB on school certificate of an Army Chief but accept the age declaration of school register for declaring a rapist as juvenile.

Govt has design the age of 58 60 after that person is senior citizen.... he/ she will get the pension, or A Business man he had given 10 years or 20 .. 50 years to his business..... it means he want a return to be continue for whole life...... or if you have a property you had given for a rent purpose you will get a income............ BUT if you are Mutual Fund Advisor............ you have to revise your licence and have to pay 5000 rs or 1000 rs for given a exam..... it means if you will not clear in 6 month your whole time Hardwork on your Mutual Fund Business ................you will get the "0" Income if you have fail or 6 month passed............... Other side you are saying that you have to go villages and guide thenm to invest in Mutual Fund Business..........you are not SUpport to Free Lancer & giving a Kick on His Ass...if he has genrate a good business and after that he/ she want to take a rest or he / she want to take a retirement to his business....even he /she can''t transfer his business income on his son''s name or to his family name........... There is no nomination Facility in this Business........IN today world The customer is also know that where he is going to invest.....he is not a baby.........understand if you have start your own business and aftr that so many term & Conditions then its not easy for a Individual Person to live his code for a long time period............................ Regards Rohit

Why only all these Rules for MF Advisors, where as in Insurance the Regulators and Insurance Cos are very friendly. Whether AMFI Does not want IFAs. ??

very true, if any person doing a business that means he is not interested in job and settle quikly with that business and he thinks he want freedom of whenever he wants to take rest, he can quit. even in LIC, doing 5years business, agent will get the renewal commission even he not renewed his licence and he will get gratuty if he done business for 15years besides his renewal commission.

A very important and urgent thing to do. The suggestions given by Mrs T V Savithri is very important for an IFA and his family to survive. Now IFAs and families and fighting against all challenges and surviving (thriving). We request the respective AMFI committee to forward this to SEBI and lobby it for getting implemented. Thank you!

I agree completely with the points raised by Mrs.Savithri. The issues raised by her are of serious nature. Hope fund houses give some weight to the years of hard work put in by the IFAs in building this industry and take utmost care in dealing with our livelihood. Cancellation of commissions is like a death penalty for “serving this industry”. Cancellations of commissions should happen only in the rarest of rare occasions (in case of disciplinary actions due to fraud etc). Wish an “IFA body” takes call on the cancellation of commissions rather than a “Fund House Body”, because only an "IFA body" can understand the pains IFAs go through in this business. Cancellation of commissions should not become a ploy to increase the profits of fund houses even more. Request AMFI to implement suggestions given by her as it would help build confidence of the IFA fraternity and attract more IFAs to this industry.