‘Even in taglines, MFDs cannot use words like wealth creator’

One of our readers wrote to us with this query:

Heartiest gratitude to Cafemutual for supporting the MFD community.

I am an individual MFD from Jamnagar, Gujarat. Name of my company is XYZ Wealth Zone (Name changed). I want to use tagline – ‘Your wealth creating partner’. Please guide if this tagline complies with AMFI guidelines.

Name withheld on request

Dear MFD,

Thanks for writing to us.

Please understand that you should not create an impression that you perform a role of financial advisor for which you are not registered. Instead, you should explicitly mention that you are acting as an MFD.

Basically, you cannot use words like wealth manager, wealth creator, financial advisor, financial consultant and so on.

So, to answer your query, you cannot use tagline which says – ‘Your Wealth Creating Partner’ as wealth creator is not allowed according to AMFI norms on nomenclature. Also, while you can use words like wealth and investment on standalone basis, you cannot use these words in combination like wealth creator or partner.

Instead, you may use sentence like ‘Your MF investing partner’. However, you should check with AMFI before finalizing any tagline.  You can write to AMFI at contact@amfiindia.com with the proposed tagline to seek more clarity on the tagline of your company.

Remember, along with this tagline, you will have to carry another tagline ‘AMFI registered Mutual Fund Distributor’.

This mandatory tagline has to be carried in a clear and legible font of at least font size 12 across all forms of communication.

You should display your name and tagline in a clear and legible font in all forms of communication i.e. website, mobile app, printed or electronic materials, business card, sign board and so on.