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  • MF News A new IFA Association helps families of two deceased IFAs

    A new IFA Association helps families of two deceased IFAs

    A newly formed association - Independent Consultant Advisor Association (ICAA) has been helping IFAs in small towns take up MF advisory and helping their family members during tough times.
    Banali Banerjee May 26, 2016

    Giving a new hope to the families of two deceased IFAs, a Kolkata based IFA Association, Independent Consultant Advisor Association (ICAA) has come to the rescue of the families of two deceased IFAs. 

    The recently formed association ICAA has been actively helping IFAs, especially in smaller towns, during difficult times. Recalling one such incident, Sanjeev Chakravorty, President of ICAA says, “One of our IFA friends passed away and we helped his son clear AMFI test and today he is supporting his family. Such instances forced us to think about the need to educate advisors about succession planning.”

    In a similar effort, the association offered another deceased IFA’s wife a job in Dhanbad. “Recently, one of the IFAs lost his life in an accident and his family was left devastated. Our association extended financial support and even offered a job to his wife.”

    Though the association was registered in March 2016, it has been active for the last two years.

    Speaking on the rationale behind forming this group, Sanjeev Chakravorty, President of ICAA says, “Advisors in the B-15 cities are completely neglected and fall short of resources. Our group primarily caters to smaller IFAs and empowers them with professional knowledge and expertise to make them self-sufficient. ICAA aims to work proactively for the welfare and development of budding IFAs.”

    The association has been training youngsters to take up advisory profession.  It is also motivating IFAs who are discouraged by the regulatory headwinds to look at their business from a fresh perspective. “With the constant regulatory changes, many young IFAs in our area are not keen to continue in this profession. To equip them to face the challenges, we have been organising training sessions on a number of topics including time management, client interaction, practice management, etc. in the last few months. Around 45 advisors participate in this weekly training program,” says Sanjeev.

    ICAA has different teams designated for training in technology, personal development & grooming, branding & promotion and membership drive. The association is also collaborating with a Mumbai based NGO which will train IFAs in acquiring clients by conducting investor awareness programs.

    Sanjeev claims that ICAA has trained around 30 people who have cleared NISM Series V-A: Mutual Fund Distributors Certification Examination and have become IFAs. Of these, seven have cleared CFP certification.

    Currently, the association has around 145 members and is expecting to attract 1,000 members by the end of this year. Sanjeev has urged more IFAs to join ICAA as it will help smaller advisors to learn and grow their business.

    The association charges Rs. 1,234 as annual membership fees and Rs. 5,678 for lifetime membership. Currently, this group is catering to advisors in Kolkata and surrounding cities like Siliguri, Dhanbad, Patna, Durgapur, Guwahati and Bhubaneshwar.

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    22 Comments
    Asoke Roy · 8 years ago `
    I think first time in India such an IFA Platform is working for the IFA, by the IFA & of the IFA. Thanks Mr Chakroborty.
    Pranab Kumar paul · 8 years ago `
    We ICAA penetrat b-15 cities IFA for their better upliftmant with the help of technology, skillful training to grow their AUM step by step, to secure his earnings with Mf business.
    SANJIB KUMAR DUTTA · 8 years ago `
    HATS OFF TO ICAA-KOLKATA. I Feel proud to be a life time member if allowed me.
    Sanjeev · 8 years ago
    Mr. Dutta please contact Mr. Goutam Karmakar 09903967272 and get Life membership instantly .
    Reply
    palma mahadevan · 8 years ago `
    IFAS not only support the DECEASED IFAS .BUT ALSO EXTEND OUR HANDS TO THE STAFF OF AMCS ALSO. Kudos to TIFFA TEAM
    Bhavesh Damania · 8 years ago `
    Well thought initiative team ICAA
    GAUTAM RATHORE · 8 years ago `
    very good work I appreciated
    Deepak R Khemani · 8 years ago `
    Excellent work and keep it up team ICAA, great job
    Nishant · 8 years ago `
    Great work ICAA
    Jayanta Chattopadhyay · 8 years ago `
    Want to join, ICAA, suggest the way please
    Pranab Kumar paul · 8 years ago
    Dear jayanta which city you are,you can contact Goutam karmakar 09903967272 to join ICAA.
    Reply
    SUNIL saha · 8 years ago `
    I want join ICAA. But how?
    SUNIL saha · 8 years ago `
    I want join ICAA. But how?
    Pranab Kumar paul · 8 years ago `
    Dear sunil which city you are. please contact Goutam karmakar 09903967272to join ICAA
    AJAY PRASAD · 8 years ago `
    Kudos to the team ICAA. Such a platform is the need of the hour. Will certainly join.
    sanjeev · 8 years ago
    Dear Ajay ji which city you are. please contact Goutam karmakar 09903967272to join ICAA
    Reply
    t bala viswanadham · 8 years ago `
    very great, best of luck.
    Apu Manna · 8 years ago `
    I doing all the training programme from ICAA, to enriched my client and also to me. Its awesome.
    Kartik Dadia · 8 years ago `
    Good initiative taken... noble cause helps to uplift the society at large... we have also recently formed a IFA association namely Saurashtra Kutch Independent Financial Advisors Association (SKIFAA) where in approx 180 members are enrolled.
    Taking inspiration from your activities we will also implement the same..
    Musharrat · 8 years ago `
    Hats Off to Sanjeev Sir for doing such a great work for the betterment of people......All The best Sir for future.....
    Musharrat · 8 years ago `
    Hats Off to Sanjeev Sir for doing such a great work for the betterment of people......All The best Sir for future.....
    Deepak Kumar Sharma · 6 years ago `
    It's a very good think to care each other. I want to be a part of this Association. Please guide me how can I join this association ? My contact is - 9835128595
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