NSE stays REITs, InvITs inclusion in Nifty Indices

The National Stock Exchange (NSE) has put on hold inclusion of real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) in...


Sebi proposes T+1 settlement for select stocks from 1 January

The Securities and Exchange Board of India has proposed a ‘Trade-plus-one’ (T+1) settlement cycle from January 1, reducing the settlement...


Demat account openings averaged 13 lakh per month since April 2020

Amid near-record rally in the equity markets during the pandemic-ravaged FY21, brokerages have added on an average 13 lakh new demat accounts every...


BSE resolved 440 investor complaints against 232 listed companies in December

Leading stock exchange BSE said it resolved 440 complaints against 232 listed companies in the month of December. It settled 427 complaints against...


ICICI Securities launches zero brokerage plan

On Monday, ICICI Securities (I-Sec) announced the launch of a zero brokerage plan ‘ICICIdirect Neo’, which offers unlimited trading with...


Zerodha users can now gift stocks, ETFs, gold bonds using e-DIS

Discount broker Zerodha announced a new platform for gifting stocks, ETFs and gold bonds to friends and loved ones, as reported by The Economic...


Mobile based trading in cash market jumps to 24% of total turnover

Average daily turnover through mobile trading on the NSE in the cash market jumped to a record 24.3% of total turnover in August compared with about...


Sebi asks stock exchanges to handle investor complaints against listed cos

Sebi came out with a framework for handling investor complaints by exchanges as well as standard operating procedure for actions to be taken against...


CDSL introduces new PIN-based pre-authorisation for selling stocks

CDSL had earlier introduced e-DIS (Electronic delivery instruction slip) to get over the issues with giving Power of Attorney (PoA) to brokers.


Share transfers will be more expensive from January next year

As per a report in The Economic Times (ET), all transactions done on stock exchanges will have same stamp duty rates all across the country.


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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