When was the group formed? And what was the driving force behind this initiative?
The foundation stone of GPVS was laid on January 22, 1996 in a small place called Ramtek near Nagpur, when a group of 35 financial advisers decided to build a forum in order to establish high standardsand a professional approach to financial product sales and service.
What is the objective of your group?
GPVS believes that success only comes with true knowledge and skills. Hence, the key objective of the association is to empower members with financial knowledge through capability building - professional skills development and training. Our aim is to ensure that all our members become professionally qualifiedat the earliest.Wealso aim to spread financial awareness among investors through investors awareness programme.
How many members do you have?
Currently, we have 135 members out of which 72 members have completed CFP or CPFA. Anybody who is in financial advisory professioncan join our association.
How do you reach out to fellow IFAs?
GPVS uses social networking websites, SMS, emails etc. to stay in regular touch with its members. The association holds a quarterly meeting to discuss various issues of financial advisory business. Also, the 25 active members of association meet regularly to discuss the future plans.
Is there any membership fee to join your group?
GPVS charges a one-time fee of Rs 2500 for lifetime membership.The fee is likely to be hiked from the next month.
What activities does your group undertake? How often?
We regularly organize training sessions for the members so that they could develop their skills, personality and grow their business. GPVS holdsdiscussions on issues like regulatory aspects, client engagement and challenges in financial advisory business. Also, the association organizesvarious seminarsin which some industry veterans put forth their experiences and views before the members of association. Besides, we observe annual foundation dayand hold cultural programmes to create bondingamong our members.
Any investor oriented activities?
We conduct blood donation camps and investors awareness programme throughout the city. At present, we are running an awareness drive on estate planning to makepeople understand the benefits of making a will.
What kind of support do you get from fund houses?
We have got sponsorships from Reliance MF and ICICI Prudential MF for developing a financial library in our association. Whether it is investor awareness programme or cultural programme, fund houses are very keen to help us.
How often do you interact with AMFI/SEBI regarding the issues related to mutual fund industry?
We had approached SEBI for various issues but it proved to be a futile exercise as the market regulatordidn’t entertain us. Due to absence of a national level association, there is no collective voice of the industry. The need of the hour is to make an all India level association so that the IFA community can effectively put forth their demands before SEBI.
Any major achievement in the past you would like to share with us?
GPVS is the only association which had conducted a grievances redressal camp in which distributors helped people in their investment related problems. Our association’s major achievement is unity in diversity. We all work together like family for the betterment of the MF industry and the association.
Can you share with us the vision for the group?
The association aims that its members should collectively achieve asset under advisory of Rs 5000 crore in Nashik. GPVS would also like to play active role in the formation of national level association for financial advisers. Also, we aim to build financial advisory profession as attractive profession for generation Y.
