“Getting a new client on board for mutual fund (MF) investments is in itself an achievement. Asking for a separate cheque for advice offered is a bit much to expect,” says Ashutosh Pandey, a Dhanbad-based independent financial advisor (IFA).
Pandey is not alone in thinking so. The MF sector is grappling with the rapid changes on permitted commission structures. The product continues to remain a 'push' one, with investors, typically, not coming forward unless approached and persuaded. Hence, say sector officials, the continuity of incentives like upfront and trail commission should not be tampered with.
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