Yes FIFA has a capability to become single voice for IFAs in India and it has been shown by the officials right from begining they have given a legal shape to FIFA they were accepted by the ragulatories as they were having meeting with SEBI, AMFI, and were also called by Finance Ministory for discussion on behalf of IFA comunity. Objectives of FIFA are in common interest of IFAS Our Indore association which is the oldest one in India INSURANCE & INVESTMENT ADVISORS ASSOCIATION INDORE which was formed in Indore almost 12 years back has also the same objectives decided to support FIFA by taking there membership. I hope in time to come FIFA will become more stroger with the experience and many changes may take place in the interest of IFAs but need of the hour is to support FIFA by increasing the membership with them.

GOOD INITIATIVE. INSPITE OF SO MANY IFA ASSOCIATIONS THERE SHOULD BE ONE NATIONAL LEVEL ASSOCIATIONS WHICH CAN PRESENT THE IFA'S PROBELM, ISSUES/SUGGESTIONS EFFECTIVELY IN FRONT OF REGULATOR, AMC. THERE SHOULD BE COMMON CODE OF CONDUCT POLICY FOR THE ASSOCIATION'S MEMBERS. ADMISSION/MEMBER FEE SHOULD BE FIXED IN SUCH A WAY SO THAT EVERY IFA CAN BECOME MEMBER OF IT. BOARD MEMBER SELECTION PROCESS SHOULD BE TRANSPARENT,SHOULD GIVE UNIFORM PARTICIPATION FROM ALL REGIONS.

Please clarify points raised by Mr Piyush Shah Arn-39982. I think IFA Galaxy is doing a great job, so please dont divide genuine independent distributors ( advisor is a misleading ) I want all individual arn holders to join IFA Galaxy in our interest.

IT'S GOOD INITIATIVE TO FORM AN ASSOCIATION LIKE "FIFA". WHICH WILL BE WORK FOR BETTERMENT OF INDIVIDUAL FINANCIAL ADVISOR. IT MAY BE ENROLLING INDIVIDUALS ALONGWITH ASSOCIATIONS AS ITS MEMBERS. YES I WISH TO JOIN FIFA IN FUTURE. FIFA SHOULD GIVE INSTRUCTION TO SEBI, AMFI & ALL PRODUCTION HOUSES (AMC'S) TO DEFINE THE STRATEGY, ENTRY LOAD, TRAIL COMMISSION, COMMON APPLICATION FORMAT OF ALL AMC'S & COMMON RULES OF ALL AMC'S ON REDEMPTION, SWITCH, ADDITIONAL PURCHASE, CANCELLATION OF SIP, REQUIREMENT FOR CHANGE IN BANK MANDATE/ADDRESS ETC. THANK YOU

Good only for corporate type FA's and not for IFA's

I want to know more about FIFA.

FIFA is a very good idea. I am happy that 8 members from Bombay have But it should have only State Associations as members, Elected/authorised Representatives should participate in deliberations. Corporate Membership/representation may also be allowed. Direct membership of Individual IFAs will not serve any purpose. There may not be good response as IFAs do not have descent income and your FIFA membership fee is too high. Right of electiom should be there to every one. It should be accessible to people with brain and not to the people with money only. Tele confference should be encouraged to save time and overheads.

DEFINATILY FIFA HELP THE RETAIL INVESMENT IFA VIA GIVES VARIOUS EXPERIENCES OF INVESTERS. PLEASE SEND THE FORMATE FOR MEMBERSHIPS DINESH KUMAR JAIN

This is a rubbish idea of making a association which looks like a LIONS CLUB or ELITE CLUB having access to only those who will pay a hefty fees for personal benifit of founder members-one such organisation in Surat has failed which charged only 4000 Rs for membership-the question is why one should join them if they are not going to work for benifit of smaller IFAs-this ELITE CLUB will just negotiate with AMCs to bargain on brokerage for bigger IFAs(founder members)-they would not look fight for legitimate issues related to huge population of smaller IFAs-this is a FAILED idea.

The only way of becoming Pan India Voice is through Federation of Associations. Otherwise it can be one of the association only. There should be no place for INDIVIDUAL Members in Federation of Associon.

Dear Sir, Kindly give me adress of FIFA for becoming member. The details for individuals and associations are required. We have AMFA in Kanpur. Thanks D D Bajaj

Idea looks good on paper 1) All 8 board members are from Mumbai (How you can dream to become pan india voice) 2) Whether in future it is going to be profitable and asset driven entity that founder members/promoters have captured 8 board seat and 60% of the board members will be elected by those who contribute Rs.1,00,000 it means a ordinary member paying Rs.4,000 will not have any say in management, how bad they manage. 3) controlling 60% management seats looks like a commercial organisation. 4) do mean to say a member paying Rs.1,00,000 is more intelligent and dedicated. 5) It seems founding members are cornering 60% managmeent right. Doesn't sound like Non-profit Association......

Our voice must be heard. Single powerful body is a must. Numbers matters most. For this all IFAs must be a member of local associations and in turn the associations be a part of National body i.e. FIFA. This 3 tier system will certainly help to put forth our views solidly. Fifa's first priority must be to enrol all the Associations ( guide to create where there is none) and ascertain the IFAs total, arrive at a percentage of representation to prove you are stronger to convince the Regulators to accept the demands. Thanks for the iniative and wishing you success.

VERY GOOD & NICE IDEA FOR A HEALTHY LIFE

we need strike, no talk, no meeting and no waste of money and time as no any governing body will hear without strong opposing.

Thanks to the team of FIFA for giving legal shape to the organisation. This is perhaps the first organisation which aims to work on a national level for the IFAs,and will be run exclusively by the IFAs. Ideally it would have been better if all the associations under the various name across the country becomes member of FIFA. But the key question is that, most of this associations are a mere group of persons meeting together with no legal backing.In such a senerio these assoication cannot legally become a memeber of this registered organisation. Thier membership would be void ab initio, meaning void from the very beginning. So either the IFAs should check the legal status of thier associations, and see to it that they can become memebers of FIFA through their associations or join independently if thier is none in their city. This will help us in raising one voice, as the issues are the same broadly across the country. After all SEBI/AMFI cannot talk, to each and every assocaitons.

I WANT TO KNOW MORE ABOUT FIFA

Its avery good and practical solution for the IFA to put their grevances in front of the Authorities and solve the problem BUT the Membership Fees is required to reduse,at liest to the senier citize IFA

I am really delighted and excited on formation of FIFA.Key priority of fifa should be all round development of IFAs. structure of FIFA is immaterial if interest of individual IFA is prioritised.Looking at the present scinario of mutual fund industry and prevailing economic condition of general IFAs membership fee should not be entry barrier for any IFA.

First thing reduced fee for IFA membership.keep it Rs 1000/-Dont judge everybody like mumbai market or mumbai like business,if U want other city IFA to become member of FIFA.Whts Your Priority?R U really interested to take head on with AMFI & SEBI to solve the IFA problem.Whts your action Plan reveal through email to all IFA's expecting POSITIVE ACTION.

congrats fpr F(ifa) members, mr Piyush Shah comments are welcome,ARN NO: 39982. so existing fifa- members please clarify all shah comments.

For MF a national platform is required for addressing issues not regional. we all must come under one roof,else overnight what happened to PPF & Postal agents - will again & again happen to us also.

In principal it is good . but it seems to be biased towards Mumbai. which has different culture and approach for IFAs problem. It seems that majority decision will take care of big IFAs problem not of smaller city IFAs.

Presently there is no harm to continue enrolling leading individual IFA as well as regd. IFA associations as members to spread the message & later on I suggest for set up of regional chapters of FIFA on federal structure & division of their roles.

Hi Friends, It is a very warm welcome to FIFA. Every one is waiting for some one who can tie bell to the cat (in our contest regulator). In this connection birth of FIFA will bridge the gap. I request all IFA community actively participate in this FIFA membership and show our strength to the regulator & AMC's

GO AHEAD. V R WITH U .

Any Group of People( IFA`S) coming together for a common cause, anywhere in India, where the intent is to have Knowledge & Information sharing with a fair representation of the Advisors Concerns, challenges & issues faced by them is Welcome! Having said that, it is important to realize, we are very diversified in our views and thoughts and therefore for better implementation, all the interested associations become members by choice to one Federation and the elected President/Secretary of that Association by default become the Reps to present the Views ,which can be debated and discussed at the Federation to present them as cohesive & united Voice to the Regulators/Principals. The Federation may have a dual role, one representing the Local Chapter as an association and secondly as a common voice for Unified representation. This will make all associations grounded and avoid having any Power Centers!

wonderful.Itis right direction for IFA and the industry.Go Ahead-Gold Gold Ahead

Dear Sirs, It has been a duel policy on the part of SEBI. On the one hand they want the MF industry to grow, while everyday new restrictions are imposed on IFAs. Incentives are being curtailed and compensations are shifted from Fund House to Investor. When we create a new client by advising we are expected to ask him to pay. I really feel that in a country like India where equity investment is a subject which needs to be advised to common man who is not at all conversant with this avenue. Due to IFA's personal credence he will venture in to this field. Asking him to pay over and above is non-sense. I really feel that making distinction between Advisory and Executioner functions is redundant. I will be only too happy to join FIFA should the have any presence nearby Goa. With warm Regards, RASIK DEODHAR. MBL:9823174173

Although today is 26th April 2012 & currently it is 10.45a.m. your system in last Two post shows tomorrow's date i.e. 27th April 2012. here is snap Name: Piyush Shah ARN NO: 39982 City: Mumbai Comments: Date: 27 Apr 2012

After posting my comments below, I visited the Web link provided in this article. Seen the list of Founder Members & others. A question come doubt arise in mind what is the definition of an IFA? To me in True sence an IFA is an Individual single person representing himself as an Financial Adviser & giving Financial Advice in his individual capacity, where as what I find in the list of current Founder members of FIFA, more then 50% are registered in the name of Pvt. Ltd. co.'s and as per my knowledge some of them are having more then 1 branch of representing their firms, so I doubt is it a True presentation of Small IFA's having Individual Entity & Struggling to represent for their problems & rights to Authorities & AMCs in True Sence.

I would like to congratulate FIFA on formation of a federation.We IFAs here at Pondicherry have formed an association named 'Pondicherry Individual Financial Advisors Association".I being the president of the association have been in constant touch with IFA Galaxy and agree that associations should only be members of the Federation.Having " One Voice " is the order of the day.Besides a representative of each association should be part of a 'working committee'for the federations policy and decision making. However there should be bifuration on the annual membership.Pondicherry is Union Territory with only 48 memebers at present.25000 is a very big amount for the association. In such situation kindly consider smaller amounts for the membership.

Though it is a good step to represent IFA's as an association, The representation should be approved by legal authority including SEBI, AMFI for a Meaningful representation of IFA's. Also it seems very less time frame stipulated for becoming Founder Members & other type of membership as IFA's like me have come to know such association through this article of wealth forum only, even though I am from Mumbai. Current Founder Members should at least send a brief introductory letter/email about such Association to IFA ARN holders (whose list & contac detail is easily available from AMFI) with Benefits available by becoming Members of such association, if they really want to represent association as in True Sence of IFA's..!! Also Fee Structure Looks some what Dicy. Nothing more to write at current stage.

FIFA is actually the need of every IFA in India. The only important issue I have is the maximum Founder members out of total are Mumbai based and till the time it will not explain the involvent of almost all areas of country or frontly say dilute the founder members / board members representation from Mumbai to other cities also the IFA of other cities will hesitate in joining seriousely.

One good idea can change ............P O W E R .

This is a very good idea. At present no body is here to represent the IFA s and safe guard the intrest of IFA!s.FIFA can fill up this vaccum. But for the wider participation of IFA!s they should reduce the membership fee.

Indeed a good initiative, is this there a provision for local bodies/chapters to become members?