News | Latest
Fixed Income

NFO Alert: ICICI launches Prudential Fixed Maturity Plan – Series 88 – 1192 Days Plan R

MAS Team 24 January 2023
0
SHARE

Prudential Mutual Fund has launched a new closed-ended debt scheme ICICI Prudential Fixed Maturity Plan - Series 88 - 1192 Days Plan R. The issue was...

more
Other Insurance

New IRDAI Regulations: KYC is mandatory for all insurance buyers

MAS Team 24 January 2023
1
SHARE

It was not necessary to complete KYC in order to purchase insurance policies prior to January 1, 2023.However,

more
Retirement

EPFO added 16.26 lakh net subscribers in November 2022

MAS Team 24 January 2023
0
SHARE

The provisional payroll data of Employees’ Provident Fund Organisation (EPFO released by Labour ministry highlighted that retirement body...

more
Retirement

PFRDA introduced an advanced mode for bank account verification of the subscribers

MAS Team 20 January 2023
0
SHARE

The PAN-PRAN- VPA(UPI) method of bank account verification for subscribers has been introduced by the Pension Fund Regulatory and Development...

more
Banks

Canara bank has hiked FD interest rates for individuals and senior citizens

MAS Team 20 January 2023
0
SHARE

Canara Bank has increased interest rates on fixed deposits under Rs2 crore. According to the bank's official website, the new rates are in effect...

more
Mutual Funds

WhiteOak Capital Mutual Fund (MF) launched Balanced Advantage fund

MAS Team 20 January 2023
0
SHARE

WhiteOak Capital Mutual Fund is a part of WhiteOak group that provides investment management and advisory services for equity assets worth Rs48,000...

more
Cards

Punjab National bank has launched credit cards against Fixed Deposits.

MAS Team 20 January 2023
0
SHARE

Punjab National Bank (PNB) became the first public sector bank which offered Credit card against fixed deposits (FDs).

more
Regulation

PFRDA Mandates Video-based Identification

MAS Team 09 January 2023
0
SHARE

The Pension Fund Regulatory and Development Authority (PFRDA) has determined to permit intermediaries to use technological intervention by using...

more
Fixed Income

NSC Interest Rate Hiked

MAS Team 09 January 2023
0
SHARE

The government has increased the National Savings Certificate interest rate for the January-Walk 2023 quarter to 7% from prior 6.8%

more
Tax

Government extends deadline for reinvestment of capital gains tax on property until March 31, 2023

MAS Team 09 January 2023
0
SHARE

The Central Board of Direct Taxes (CBDT) has extended the last date for individuals who wanted to save Long-term capital gains (LTCG) tax under...

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
 
 
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.
 
img
Debashis Basu
Founder