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‘An NRI can become a mutual fund distributor’

Ask us: NRI MFDs cannot onboard resident individuals as their clients. They will have to source business from NRIs and foreigners only.

by Nishant PatnaikJan 7, 2023

Pan updating: Quoting PAN or PEKRN is compulsory to redeem money

Ask us: If the value of the investment amount is less than Rs.50,000, your client may obtain Pan Exempted KYC Registration Number (PEKRN) to process request.

by Nishant PatnaikDec 3, 2022

Can an Indian grandparent invest on behalf grandchild staying abroad?

Indian grandparent can invest on behalf of their grandchild through children gift funds.

by Karishma GagwaniNov 3, 2022

‘AMFI does not allow nominees of deceased MFD to transfer AUM after six months’

Ask us: In any case, nominees or legal heirs are entitled to get trail commission on assets built before the demise of an ARN holder without obtaining a fresh ARN.

by Nishant PatnaikOct 28, 2022

‘MFDs may obtain GST no. from Maharashtra to avail composition scheme’

However, experts believe that MFDs first need to figure out the net impact on taxation before making any decision.

by Nishant PatnaikOct 20, 2022

‘Can B30 incentives be clawed back?’

Ask us: AMCs clawback B30 incentives if your B30 investor redeems his investment within the first 12 months of the date of investment.

by Nishant PatnaikOct 20, 2022

‘B30 incentive is applicable to all MFDs irrespective of their business structure’

Ask us: Remember, B30 incentive is payable only if investment has come from retail investors.

by Nishant PatnaikOct 6, 2022

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

Ask us: You should not create an impression that you perform a role of financial advisor for which you are not registered.

by Nishant PatnaikSep 20, 2022

Sole proprietor MFDs will have to obtain NISM certificate to continue distribution business: AMFI

Ask us: MFDs who run sole proprietorships will have to obtain NISM certificate before the date of expiry of their ARN.

by Nishant PatnaikSep 6, 2022

‘MFDs can charge fees for services like will planning and tax filing’

Ask us: While mutual fund distributors cannot charge fees in lieu of financial advice and mutual fund investments, there is no restriction on MF distributors charge fees for other financial products or services.

by Nishant PatnaikAug 2, 2022