ICICI Prudential Mutual Fund Announces Launch of ICICI Prudential Nifty Pharma Index Fund

ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Nifty Pharma Index Fund, an open-ended Index scheme replicating Nifty...

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ICICI Prudential MF launches Nifty Financial Services Ex - Bank ETF

ICICI Prudentia Mutual Fund has launched ICICI Prudential Nifty Financial Services Ex-Bank ETF, an open-ended exchange traded fund tracking the Nifty...

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ICICI Prudential Mutual Fund launches Transportation and Logistics Fund

ICICI Prudential Mutual Fund has launched a new fund offer (NFO) called ICICI Prudential Transportation and Logistics Fund. The open-ended equity...

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ICICI Prudential MF Launches Two Target Maturity Funds

ICICI Prudential Mutual Fund has announced the launch of two target maturity funds:

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ICICI Prudential Mutual Fund Launches India’s First Auto Index Fund

ICICI Prudential Mutual Fund has launched India’s first auto index fund - ICICI Prudential Nifty Auto Index Fund. It is an open-ended index...

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ICICI Prudential MF Launches Nifty50 Equal Weight Index Fund

ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Nifty50 Equal Weight Index Fund.

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Aditya Birla Sun Life Mutual Fund launches Turbo Systematic Transfer Plan

Aditya Birla Sun Life AMC Ltd has launched turbo systematic transfer plan (STP), wherein unit-holders can opt to transfer variable amounts from a...

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HDFC Mutual Fund Launches Three Smart Beta Funds

HDFC Asset Management Company Ltd has announced the launch of Nifty100 Quality 30 ETF, Nifty50 Value 20 ETF and Nifty Growth Sectors 15 ETF, in order...

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ICICI Prudential Mutual Fund Launches PSU Equity Fund

ICICI Prudential Mutual Fund has launched a new fund on 23rd August- ICICI Prudential PSU Equity Fund. The new fund offer (NFO) will remain open for...

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Kotak Mutual Fund Launches Smart Facility for SIP, STP and SWP

Kotak Mutual Fund has launched Smart Facility for SIP, STP and SWP for all investors.

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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