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Banking

NPCI Bharat BillPay Integrates SBI Card for Effortless Credit Card Bill Payments

MAS Team 07 December 2023
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In a significant development, NPCI Bharat BillPay (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has...

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Banking

QR Code Scams Surge, Posing Threats to Digital Payments

MAS Team 07 December 2023
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The proliferation of QR code scams is emerging as a major concern in the rapidly expanding digital payment landscape. Scammers are capitalizing on...

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Gold

Sovereign Gold Bond (SGB) 2015-I Matures

MAS Team 28 November 2023
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The inaugural Sovereign Gold Bond (SGB) issued on November 30, 2015, is approaching its maturity date on November 30, 2023. Investors in this...

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Banking

RBI Mandates Enhanced Consumer Notifications for Credit Information Access

MAS Team 28 November 2023
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The Reserve Bank of India (RBI) has issued directives to Credit Information Companies (CICs) to elevate customer communication standards. The primary...

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Mutual Funds

Investors Flock to Hybrid Mutual Funds, Pouring Rs 72,000 Crore in last seven months

MAS Team 28 November 2023
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In a noticeable trend, hybrid mutual fund schemes have witnessed a surge in popularity among investors, attracting an impressive Rs72,000 crore in...

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Mutual Funds

Financial Housekeeping: Key Deadlines to Remember in December

MAS Team 28 November 2023
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As December unfolds, it heralds not just the end of the calendar year but also marks a period rife with crucial financial deadlines. From bank locker...

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Mediclaim

Navigating Health Insurance Claims: A Guide to Avoiding Pitfalls

MAS Team 24 November 2023
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Health insurance stands as a financial safety net during medical emergencies, yet it's disheartening that a significant 75% of health insurance...

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Life Insurance

Insurer launched insurance covers with add-on for damage to EV battery while charging

MAS Team 23 November 2023
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Zuno General Insurance, formerly known as Edelweiss General Insurance, has introduced three innovative add-on covers for electric vehicle (EV)...

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Fixed Income

Rules for Small Savings Schemes Overhauled

MAS Team 21 November 2023
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In a significant move, the landscape of small savings schemes in India has undergone a transformation with recent regulatory amendments. The altered...

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Retirement

EPFO Launches Special Drive for Swift Recovery: Employers Urged to Clear Dues

MAS Team 17 November 2023
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In response to a concerning trend of slow arrears recovery, the Employees' Provident Fund Organisation (EPFO) has announced a special recovery drive...

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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