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

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...


Sebi asks mutual funds to reduce information overload on customers

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


Mirae Asset launches NYSE FANG+ based MF Schemes

Mirae Asset Investment Managers India has announced the launch of India’s first FANG+ based products,


CAMS launches eKYC using OTP based Aadhaar verification for MF investors

Computer Age Management Services (CAMS) has unveiled an e-KYC facility using an one time password based Aadhaar verification to serve the new mutual...


Aditya Birla Sun Life Mutual Fund rolls over seven FMPs due to low-yield concerns

Aditya Birla Sun Life Mutual Fund has rolled over seven FMPs which were maturing in the month of April, 2021, writes The Economic Times.


MF Investors Are Making Lesser Returns than their Schemes, finds Axis Mutual Fund

Mutual fund investors earn much lesser returns that the schemes they invest in, shows a recent research done by Axis Mutual Fund.


Axis Mutual Fund launches Axis Technology ETF

Axis Mutual Fund has launched Axis Technology ETF (exchange traded fund) tracking the Nifty IT index.


Sebi’s directive on perpetual bonds may trigger huge losses in some MF schemes

Investors in debt mutual funds holding perpetual bonds are staring at losses with the new valuation norm for the instrument expected to spark a sharp...


Franklin Templeton MF: Sebi issues show-cause notices for lapses in risk-management process

Securities market regulator Sebi has issued show-cause notices to Franklin Templeton Asset Management Company (AMC), trustees and key managerial...


NPCI glitch cost mutual fund investors the bull rally in equities

Hundreds of thousands of mutual fund investors may have missed out on the stock market rally in the past 10 days,


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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.
Debashis Basu