MF distributors can only talk about the MF schemes, nothing else: SEBI

RESPECTD SIR/MADAM SOME INSURANCE AGENTS ARE MISSELLING ISURACE AND SAYING INNSURANCE CAN GIVE DOUBLE BENIFIT LIKE RISK COVER AND GROTH LIKE MUTUAL FUNDS SO INVEST IN ULIP.
2ND THIS ABOUT BITCOIN SO PLS SUGGEST IN BOTH MATTER HOW TO CON...CLIENTS

20 lakh insurance agents dont promote term policy when you go a client he may require a term policy,medical policy,accident cover,house,shop insurance personal loan housing/car loan long term with good returns mutual fund and insurance selling endowment policy 350*30 half yearly premium in 1992 matures in 2007,now pradhana mantri 2 lakhs cover @ 330 per year.first irda,pfrda,sebi,amfi,banks,insurance first give proper training for 12 months and then allow to selll/guide and advisor has various products to serve and customer need not approach different advisors for different products advisor happy seving 100-300 customers client also happy i had this idea in 2004 but banks where unable to give 50 % as educational cost & 50% busin
ness set up cost laptop,printer,vehicle,office set up licensed software and 12 months 12 subjects

It is really surprising that there are different regulations for LIC AGENTS AND MUTUAL FUNDS AGENTS.
LIC agents can communicate any thing to investors , where as there are restrictions on mutual funds AGENTS!!!
As per my talk with one of the top management official if top DISTRIBUTOR.
THE REASON IS LIC HAS ALWAYS " BAILED OUT " STOCK MARKET IN CRISIS!!!!
FOOLISH THOUGH.

SEBI is too much interested in commission paid to MF Distributors & is a passive bystander in overlooking the misselling process invoked by Banks, Corporate Brokers. MF Distributors are in Direct Interface with customers & if they missell then clients keeps on echoing their foul experience in around & MF Distributors are held responsible which in turn takes a toll of MF Distribution but Bank staff involved in such Desk are just selling equity when clients are asking for Fixed Instruments, Banks are selling Pure Equity SIP when clients are asking RD, Banks are instructed by their in-house AMC to sell their out of flavour schemes to BANK customers & Bank staff are never interested in clients good interest they simply focus on selling funds with low return & high expense ratio. SEBI has turned blind into these activities & is having nexus play in all these. When Corruption didn't spare Finance Ministry then what is SEBI.

Wonderful.....sebi should do whatever it wants.....at least confusion should be taken care of......RIA or anything else....should do it fast.....

At least we too will be in a position to decide to continue in this profession or not.....atleast we will be able to do something to earn our living..... regulator is not going to compensate for our efforts put in past in the anticipation of revenue streams going ahead.....all our efforts will be enjoyed by the AMC's.....but let it be so...at least clear the confusion fast

Sebi has nothing to do for customers interest it's intention is to ruin MF and distributors like us.Better think to privide salary istead commission to us according to the minimum salary criteria of govt.of India.

sebi has no courage to punish banks for misselling.distributors worked hard for mf industry and now they are being treated as anwanted elements.

No matter how many consultation paper they may bring they are doing a disservice to investors especially Retail investors. All this to benefit the AMCs so that once we Distributors are out of the way they will be able to increase the TER and eat the full cake. RIA is a failed model and RIAs are also known to missell. Will SEBI take an onus of RIAs? If RIA missell will SEBI pay the penalty? Today Most banks and brokers missell but AMCs and SEBI are scott free even after allowing these misselling hubs to sell especially closed ended funds(Which SEBI says one should not sell but allows AMCs to bring them). Rather than punishing the culprit they are making all of us into devils. Infact SEBI staff(All of them) should leave salaries and work on fee basis. Let us see how much can they value add and only then we pay them fees. Only if all the investors make money then and only then AMCs should be allowed to charge them TER and SEBI staff should get fees. If anyone loses money they should not be paid at all. Let us see some segregation where it is actually required. We sit with our investors on a regular basis do everything including risk profiling and asset allocation but we are devils because SEBI says so. what study has gone behind this is the most important thing that SEBI has to disclose. SEBI is completely non-transparent in bringing the regulations which should be challenged in court. They have to come out with data of surveys conducted in our country. Also AMFI(Mutual fund lobby) should be dissolved because they influence SEBI to make more money. IMFI is the biggest example of that. It is clearly use and throw policy of AMFI that SEBI is bringing all these nonsensical regulations. It is not for our country at all. We need to educate more people to participate in the economy via equity and This nonsensical regulation will actually be hazardous for this.

Also if a company gets delisted what is the protection they get of their money? Who is responsible for the investors money(which again proves that SEBI works for the companies and not investors? Instead of focusing on the real issues SEBI is just hair splitting on unimportant issues in fact these are non issues. Yes they should disallow banks and brokers to sell all the third party products. They should encourage the genuine IFAs to spread these products more and more and not descourage. Also they should also stop direct plans because they are risking investors money by doing that. The investors are clueless about it and because so much bombarding of information regarding saving cost they go direct and lose money because they are confused on why to invest, how much to invest and where to invest. We do it without any fees.

Also a completely wrong picture is portrayed that we work for AMCs which is completely wrong and maliciuos campaigning. It is SEBI who works for AMCs and we work only for investors otherwise when upfront commission was removed we would have stopped distribution.

Something is fishy because even though IAB saying that they should not bring this regulations they are behind this . They have some malicious intentions behind this. We should all go to court against this and fight against this malicious campaign.

SEBI ,they are already mad,they can't stop ipo listed companies who are making equity investor full. companies ipo listing RS 800 after 2 yrs RS 5.Why investor getting huge loss? Where is then SEBI big tie people? All are making full ? They are eating govt money.They are very egoeistic people.

Banks and Corporate brokers engage the services of their employees to sell mutual fund products and insurance products their clients and miss selling happens and after sale service is also not provided by these agencies where as MFD is like a 'family doctor' who sells products at the doorstep of clients unlike these corporates who sell products which are targeted by MF houses. MF houses also incentivise them abundantly and help mis selling.
SEBI should try to make an impartial survey and ascertain the sources of misselling and openion of investors about the services they receive from their MFDs.
On the one hand SEBI is interested in popularising MF investments in remote and rural areas and on the other hand hesitate to incentivise the distributors.
While an insurance agent gets as much as 25 to 40% commission in First year and gets as much as 5% year on year for renewal premium what is paid out MFDs is trivial little and this step motherly attitude by SEBI is suicidal.

Await next set of guidelines: IFAs should not open their mouth during client calls, can how ever show pamphlets issued by AMCs and can write in a piece of paper " for further details consult AMC/ SEBI website and show it to the clients. It is imperative on the part of advisors that they have followed this guideline. It is therefore better that advisors take videographers with them !!

Everybody should oppose SEBI's paper against MFD. When ever the paper is put on SEBI's website, let us make it aware to everyone and write same comments as written here. Let us Unite against madness of SEBI. all memebers have correctly mentioned that SEBI is ignoring Banks mis selling, AMC's are making huge huge commissions.