Menu
Assisted Portfolio New!
Services Pricing
Sign In  |  Sign Up
News | Latest
Life Insurance

LIC eases claims process, life certificate requirements for its policies

MAS Team 12 May 2021
0
SHARE

Life Insurance Corp of India has eased its claims settlement process in a bid to help customers with the process during the pandemic, writes The...

more
Regulation

CBDT relaxes restrictions on cash payment over Rs 2 lakh for Covid-19 treatment

MAS Team 12 May 2021
0
SHARE

The government has allowed hospitals, dispensaries and COVID-19 care centres to accept cash payments in excess of Rs 2 lakh from patients or their...

more
Other Insurance

Insurers will have to continue offering standard Covid-19 policies

MAS Team 12 May 2021
0
SHARE

The Insurance Regulator and Development Authority of India (IRDAI) has reiterated that all general and health insurers will have to mandatorily offer...

more
Banking

Moneylife Foundation Impact: RBI disallows freezing of bank accounts needing KYC update

MAS Team 07 May 2021
1
SHARE

The Reserve Bank of India (RBI) governor Shaktikanta Das has directed banks and other regulated financial entities not to impose any punitive...

more
Loans

Private sector banks failed in passing benefit of low interest rates to borrowers

MAS Team 07 May 2021
0
SHARE

Private sector banks failed to match the Reserve Bank of India's reduction in the interest rate in the past year to ease the pain inflicted by...

more
Regulation

Changes in motor vehicles rules will now ease transfer of ownership of vehicle after death of owner

MAS Team 03 May 2021
0
SHARE

The Ministry of Road Transport and Highways has notified certain changes in the Central Motor Vehicles Rules, 1989 to facilitate the owner of a...

more
Banking

SBI tells branches not to freeze accounts if KYC is not updated

MAS Team 03 May 2021
0
SHARE

SBI has written to all it branches asking them to not summon their customers for updating KYC (know-your customer) details, writes The Economic Times.

more
Mutual Funds

Franklin Templeton: six debt scheme unit-holders to receive third tranche of Rs 2,488.75 crore this week

MAS Team 03 May 2021
0
SHARE

Investors in the six schemes of Franklin Templeton that are under winding up process will get their third tranche of money back this week, writes The...

more
Mutual Funds

Sebi asks mutual funds to reduce information overload on customers

MAS Team 30 April 2021
1
SHARE

Markets regulator Sebi has asked mutual funds to make a disclosure about scheme risk-o-meter, performance and portfolio details to investors only for...

more
Regulation

Centre plans to launch digital delivery of healthcare services

MAS Team 30 April 2021
0
SHARE

The Centre is likely to launch the digital delivery of healthcare services together with private sector stakeholders within the next 1 to 2 years...

more
  Loading...
  Loading...

To continue


Please
Sign Up or Sign In
with

Email

We are listening!

Solve the equation and enter in the Captcha field.

Changes in Our Business Model
 
 
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
  • The investools will have to be reworked and will offer model portfolios. 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.
 
img
Debashis Basu
Founder