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Gold

Gold ETFs Witness Record Inflows in August 2023

MAS Team 21 September 2023
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Gold exchange-traded funds (ETFs) have emerged as star performers in the Indian financial landscape, drawing substantial investor attention. In...

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Mutual Funds

Important Financial and Regulatory Changes Effective from 1 October 2023

MAS Team 21 September 2023
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As the financial landscape evolves, it's essential to stay updated on rule changes that might impact your financial decisions. Here are five...

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Mutual Funds

Equity Mutual Funds witness Strong Inflows, Debt Funds Experience Outflows in August 2023

MAS Team 14 September 2023
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In the month of August 2023, India's mutual fund landscape witnessed a dynamic shift with equity mutual funds enjoying robust inflows while debt...

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Gold

Sovereign Gold Bond Tranche 2 Opens with Online Discount

MAS Team 13 September 2023
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The second tranche of the sovereign gold bond scheme for 2023 has kicked off and will continue to accept subscriptions until September 15, 2023.

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Mutual Funds

New Index Funds on the Horizon: Groww and Zerodha Take the Lead

MAS Team 13 September 2023
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Market enthusiasts and investors have something to look forward to as Groww Mutual Fund and Zerodha step into the world of index funds. These asset...

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Fixed Income

Small Savings Scheme may get frozen if investors fail to submit their Aadhaar before deadline

MAS Team 07 September 2023
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Investors of popular small savings schemes such as the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and Post office deposits face a...

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Tax

Income Tax Returns Processing Time Reduced to 10 Days

MAS Team 07 September 2023
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The Central Board of Direct Taxes (CBDT) announced a significant reduction in the average processing time for income tax returns (ITRs) following...

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Banking

India's First UPI ATM Introduced: A New Era in Digital Banking

MAS Team 07 September 2023
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India's digital payment landscape reached a new milestone with the launch of the country's first UPI ATM. This groundbreaking development, introduced...

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Retirement

Streamlined Process for Updating EPF Details: New Circular by EPFO

MAS Team 30 August 2023
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The Employees' Provident Fund Organisation (EPFO) has introduced a fresh circular aimed at standardizing the process of correcting or updating...

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Tax

Ensure Validity of Your Income Tax Return: Complete E-Verification Today

MAS Team 30 August 2023
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The income tax return (ITR) filing process is a crucial financial responsibility, and its completion entails more than just submitting the necessary...

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Changes in Our Business Model
 
 
25th Sept 2020
 
Greetings from Moneylife Advisory Services
 
Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
 
As a result of these changes, IAs, cannot accept fees through credit cards, will have to sign a 26-clause investor agreement, have to maintain physical record written & signed by client, telephone recording, emails, SMS messages and any other legally verifiable record for five years. IAs were already asked to record the suitability and rationale for every piece of advice given, sign them and store them for five years.
 
While these extensive and frequent changes, designed to strengthen the conduct of IAs are well-meaning, these have sharply increased compliance efforts and cost. We, being online advisors, find many of changes harder to implement, compared to advisors working in the physical space. We will have to have an army of advisors, administrative and tech staff to be compliant. If we do this, we will have to divert money to these areas and the cost of our service will double. We want to remain the least-cost service in the market to benefit more and more people. In the circumstances, we are forced to change our business model from “advisory” to “research”. This will mean the following:
 
What remains the same:
  • Recommendations on insurance, investment and Lion stocks, will continue as a part of the MAS premium subscription. Our strength has always been research and this will remain available to you through our recommendations.
  • The magazine and all textual content will remain as part of the service
  • We will have to suspend the restructuring tool.
 
What changes:
  • The interactions in Ask / Handholding will offer investment advice but not specific to your situation. It will offer information on investment products and also clarify your doubts about various financial products. It will be a forum for information, not for advice. This will be implemented with immediate effect and our guidelines in Ask, reflect this now.
 
Over the next few weeks our site and our communication to you will reflect these and other additional changes.
 
We feel this will not affect you much in terms of what really matters in investing: knowing what to buy and when to buy. This is our edge and it will still be available to you.
 
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Debashis Basu
Founder