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The National Pension System (NPS) rules have undergone a significant upgrade, according to the Pension Fund Regulatory Development Authority (PFRDA),...


Link PAN-Aadhaar by June 30 to Avoid NPS Account Restrictions

The Central Board of Direct Taxes has extended the deadline for linking Permanent Account Number (PAN) with Aadhaar to June 30, 2023.


Employees urged to apply for higher pension under EPS scheme before May 3 deadline

The Employees' Provident Fund Organisation (EPFO) has urged eligible employees to submit an application for a higher pension under the Employees'...


New NPS withdrawal rules that came into effect from April 1 2023

The Pension Fund Regulatory and Development Authority (PFRDA) has announced that NPS subscribers will have to upload specific documents on the...


The deadline for retired employees to apply for a higher pension under EPS has been extended by EPFO until May 3, 2023.

In a press release dated March 13, 2023, the Employees' Provident Fund Organization (EPFO)


Documents you will need to submit when applying for higher pension under EPS

If you are an employee who qualifies for a higher pension under the Employees' Pension Plan (EPS), you may be interested in the list of supporting...


Opting for a higher pension is nearly impossible due to an EPFO clause.

According to Times of India (TOI) Employees' Provident Fund Organization (EPFO) opened its unified portal to subscribers so they can sign up for...


Online joint option form submission for a higher EPS pension is ''coming soon,'' according to EPFO.

The EPFO has declared that it'll be providing an online facility for employees to file a declaration choosing for higher pensions jointly with their...


New PF withdrawal rule: PAN card holders must check in FY24 during income tax return (ITR) filing

Finance Minister Nirmala Sitharaman proposed reducing Tax Deduction at Source (TDS) for the taxable portion of the Employees' Provident Fund (EPF)


Govt increased limit for Post office monthly income scheme

Finance Minister Nirmala announced on Feb 1, 2023 during her Union Budget speech about the increased maximum deposit limit of Post Office Monthly...


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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.
Debashis Basu