We are not against distributors: U K Sinha

Well the actions speak louder than words and sebi is bringing all the regulations which go against distributors. Rs.100/- to Rs.150/- charges are just onetime charges and are not even enough for travelling to the customer's home or office. Distributors also have families who need money to take care of livelihood. We are not aliens. Rs.100/- to Rs.150/- does not take care of that. No distributor relies on this for livelihood and this can not take care of it. SEBI allows AMCs to sell their products directly so that means the AMC staff is better solicitor than IFAs. Also manufacturer selling the financial products directly to consumers without any slicitation is too dangerous. Direct business is completely unethical because the customer buys at his own risk without any solicitation. Even RIA model will not work because in india forget about paying fees people have been asking for commission IFA earns. Now on one hand they want the customer to know the commission we earn and they want direct selling and RIA model. How is it not against distributors? In CAS only regular plan TER is to be shown but not direct plan TER. How can they say that they are not against distributors.

Is Mr. Sinha really serious??? Does he take IFA's to be fools or beggars? How much is Mr. Sinha's conveyance expense while he works at SEBI? Is he okay with Rs. 100 or 150 as conveyance every time he travels anywhere for official purposes? Has any investor lodged a complaint with Mr. Sinha about the quantum of commission paid to IFA's?

Also reducing TER in regular plan and allowing AMCs to increase TER in direct plan, is it not against distributors? AMC official will only sell that particular AMC's product only whether it is performing or not and who does risk profiling and asset allocation of those customer's. Also same thing in direct schemes. How can they justify it? Do AMC officials do reviews? My last point is before bringing in new policies why IFAs are not consulted because they are the ones who know the ground reality.
They should actually facilitate the IFAs and encourage them to go out and educate people about the mutual funds and bring in ethical and solicited business. But that does not show from SEBI's actions

Really Sinha Sir need tonrethinknif they are friendlybwith distributors he could not have thought to remove clothes of his distributors in front of his clients. Where in India is there trend in any financial advisory model to charge fees. Frankly ask to your heart will he pays fees to plan his own financial plan???. And you are asking to change mindset of investors which is not at all in control of distributors. And why in onlybthis business SEBI is implementing all this thing whereas there are many business which are very costly but why SEBI don't have time to intervene there. There must be something fishy running to close mutual find distributors business.

All action from SEBI is against distributor with support of some AMC .Some AMC also putting petrol in fire .The AMC business grown through IFA now the direct model support is just like the son who grown with help by parents now going to neglect their parents . Now commission discloser in cas to ruin the distributor model since it create the gap between customer and IFA...

Very well said Mr. Prashant Shah. Totally Agree on this. I hope Mr, UK Sinha reads all the IFA comments and realises that its not the IFAs who should be pressured and troubled but the BANKS who are the biggest mis sellers of financial products.

The message is clear, the authority has planned to put IFAs on road !

I agree with all my advisor fraternity that Mr. sinha has taken biased decision and insulted us by his comments.

In which world SEBI is living? Rs. 150/- doesn't even take care of travel cost.... SEBI is definitely against distribution community, it wants the customers to go direct so that the large fund houses would benefit and wipeout the small fund houses....

The irony is no one voicing against Life insurance industry where in the commission structure is being increased to 40-50% (proposal)..????

There is absolutely no sanity in SEBI's decision... Comparing India with other developed market is also wrong... We are entirely a different country with closed mind...In the pass-back where is the question of customer paying fee...

Mr. Sinha feels that Agent still lives in 1980s.

Of course u r Mr Sinha, what do u think of the advisor, a beggar ? Shame of you...you should withdraw ur comments,
and one last but not least, we are demanding the disclosure of the salary and other fecilities you and your employees are enjoying under the right of information act...
And also who generates ur income ,at the cost of whom ???

it is a rhetoric statement without human face. he capped the commission structure, destroyed the functioning of MF distribution system, without understanding the services imparted and the amount of money brought into the system. HE like bigwigs encourages only AMC'S , amfi bodies, fund managers to thrive at the cost poor IFA fraternity. while the amcs and big distributors are in collussion and make roaring profits, only crumbs are thrown at the IFA especially those at the low end. the renewal fee is removed by IRDA, amfi makes costly and and enjoys the perks,salary, and the benefits of the fund amcs. india cannot be compared with other countries as there are lot more to be done to be on par. while the IFA himself is struggling to gain foot hold, SEBI,AMFI, amcs bring and thwarting the functioning of the ifa 's of lower rung, while the bigwigs are scot free. it is shameful on the part of regulator in asking amcs to disclose the hard earned money of the ifa, which only discourages more people joining and improving the working conditions of the many desired lot. today . today IFA should be considered as an employment potential when GOVERNMENT is encouraging entrepreneurship, here is a regular which is an impediment to growth of the mf. while regulator needs to redress geniune problems concerning the functioning of the market, plugging loopholes, and transparancy is welcome, but not at the cost of damaging the fabric of the hard work of all ifa fraternity.

It's waste of time to expect sinha will do anything,when direct came he was heading utimf he came to Hyderabad,to shed crocodile tears,and promised to fight for the poor ifas,i doubt even if he remembers his words

India is not a mature market like Europe where the client will give seperate cheque as commission. What is he talking off. ?? 100 rupees....really pathetic!!!! If we do say 500 applications in a year which is also a hard work n not easy. We will get 50,000 a year means around 4200 a month roughly n say if we cater these investments to 200 meetings a year which is 2.5 app per client. Even if we go by the cheapest means in a city by a state bus still a meeting must cost 100 rs means 20,000 rs n if a small ifa spends 50 bucks a day on his mobile n internet which he uses for work he spends another 18,000 which makes it 38,0000 a year wherein this poor man not even buying a cup of tea for his hard work coz he is left with 1000 rs a month for his livelihood n to advertise his work.We sell the best product with least money n I don't know what else to say.....Disgusting really!!!!

Acting in the interest of Investor is Good and to be welcomed. However, much can be done to protect the interest of the investor but not done and only IFA is the target. AMC person not qualified to understand the investor risk profile selling products Manufactured by his Own Company to the investor ...WOW !. Great Disservice to the Investors ! Banks Grossly Mis-selling All types of Products. But No Action. Only Target is I F A. He should recognize that the growth of the Industry is the result of the labour of IFA Community.

Is he actually not against the distributors?
Then what makes him question the fund houses as why are they not promoting direct plans aggressively.

I think we should all unite and go to Mr.Sinha and ask him why is he bringing all these regulations. Who is advising him. because in the follow up of this article there is one more article which says AMCs should promote direct plans only. This is a clear cut strategy to cut IFA community. If he doen not listen we should go to the court against SEBI. Sebi says that investors should be going direct so they will be at mercy of AMCs for all kinds of services which we all know how good they are. Also AMFI the mutual fund self regulatory body( Actually the mutual fund lobby) will recommend these to SEBI by the way of cartelisation will remove IFAs and then they will hike up TERs and keep the entire cake to themselves. This is a plan between SEBI and AMCs.

Res, Admin Sir Cafemutul. you invite. our comment from many IFA Distributor and. many IFA Post their comment We are facing many problem does. you. our comment put SEBI.

The statements made by Sinha, chairman SEBI to the IFAs are almost equal or even more than the statement made by Zia Ul Haq, Nawaz Sharif of Pakisthan. One hand he says he is not against IFAs and on the other hand he ill treats like slaves. I am getting the feeling that even Britishers were better at the time of ruling. I feel Mr. Subramanya Swamy also should take on Sinha ( I can not mention Mr.Sinha as he lost respect due to his acts against IFAs ) the way he acted against Mr.Raghuram Rajan. In India only political acts are taken seriously. Sinha is looking at IFAs as mosquitoes.

Sinha's remarks that he is not against ifa's itself reveals that he is. He will walk away with all terminal benefits, pf,gratuity,pension,leave encashment etall.he has reasons to celebrate! He has ensured no ifa is there in the market and they are substituted by mnc banks and brokerages

They say actions speak more than words. SEBI's latest mutual fund master circular of Sept 2016, pg 130, pt 10.5.1.9 regarding transaction charges payable to distributors, says that, "In case of SIPs, the transaction charge shall be applicable only if the total commitment through SIPs amounts to Rs.10,000/- and above. In such cases the transaction charge shall be recovered in 3-4 installments." Is SEBI serious about this point, that IFAs spend possibly Rs 50 or more every month for the next 3-4 months to recover the transaction charge of Rs 100-150 ?

Mr. Sinha and other employees are so big mouth bcoz of us.
We are working hard and they r getting salary and parks n Mr Sinha saying Rs 100 n 150 is very big ll anyone ask him to come n see d real situation here.

Mr.Sinha, am working last 6 year in mutual fund industries , last year my commission is 80K, and i printed advertising martial of Rs.40k. and other cost mobile and petrol is extra. so what i save. Mr. Sinha work is against youth . He is increasing unemployment's. How much salary of your Mr.sinha. and how much allowance you gets. have you inner wills power to disclosed that.