AMFI aims to onboard 5000 new distributors through MFD apprentice program

I would like to know how much the number(%) of MFDs earning below Rs. 5000/- and Rs10000/-, I am sure that the % of such MFDs is very high.,
Sir, this is very very difficult to survive in the MF business when you working from villages ... as the residents have no idea about investments..., where they don't believe other product except LIC, bank, POST office, we have to give too much time to do some investments (very little amount) from them. we are in too many difficulties for abeyance of B30..., then you can understand in this situation why new generation young will come to join this industry, where there is no such future perspective...

You sit with peanuts in your hands than you can attract only monkeys. The payout structure of mutual funds does not attract fresh talent. Compare the figures of insurance agents with mutual fund agents. The insurance industry adds every year the number of agents which mutual fund industry has total number of agents till date. It’s high time both the regulators sit together and work on a common agenda rather than bring out such whimsical ideas. AMFI cannot even choose the place of training except their head office leave apart such initiatives.

Also, the MFDs who joined just before COVID, and lost the year or so of business should also be included in the scheme, normally, 4 to 5 years are required for a MFD to gain a respectable income from the business and even getting difficult by day, required some sort of cushion from the scheme.

First AMFI had to try Inactive ARN Active & set Apprentise for them. AMFI have to work in MF Associated Customers & Prople. If want to Reduce charges then why lounches DIRECT PLANS ? Whats a blunder 🤔

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AMFI is a reckless body. They plan to add 5000 distributors, but what happened after 1 year they all be inactive after 1 year. AMFI & SEBI are body which is anti MFD. If SEBI and AMFI believe that MFDs 0.5% brokerage stop making returns for client why they don't close MFD segment, because they know if MFD is not in the market MF sales goes down by 90%.

If this position is continue to lower brokerage no new mfd come to survive . Other hand small investor flew away from this market and the participet in ulip plan. Their he pay about 25% of 1st year. I understand that small city and small location is far away from mf business. This business is around up some big city.

AMFI does not have spine to stand for the distributors when SEBI is continuously contemplating to reduce the distribution fee which is already very low and on the other hand they want to increase number of distributors.

After one year all apprentice MFD will upload their CV on job portal

Penny wise, pound foolish actions of AMFI. Biggest Joke. AMFI does not have spine to stand for the distributors when SEBI is continuously contemplating to reduce the distribution fee which is already very low and on the other hand they want to increase number of distributors. If AMFI do not protect already existing distributor fraternity, AMFI is damaging its own legs and business. Existing distributors have very deep reach to the remote location clients who are unreachable by online digital platforms and impossible to reach by AMFI networks as they are at very remote isolated locations. Existing distributors incur lot of expenses in servicing these remote locations. It took years for existing distributors to create support eco-system for such customer base and AMFI cannot reach these customers. If AMFI do not wake up in time, they will destroy the existing eco-system and loose these customer base for ever as distributors will switch to other viable businesses and will not come back.

Rather than doing it with AMC…. Do apprentice program with Big Distributor… AMC know nothing about managing behaviour of client

Should stop reducing brokerage if it's not sustainable who is going to do bussiness

It's not about the number of adding newer mfd's but rather the sustainability of the business model that needs to be looked at

After 1 year can an apprentice MFD survive ?? Only figure will tell .
Due to reduce profitability of AMCs will reduce everything.
Future is bleak.

It would be better to educate and motivate those who are not working, there is a large class of inactive MFD…