Our regulators copied regulations mostly from developed countries and that is US. Regulations in our country can not be sameas regulatios in US. Our business of investment is directly linked with GDP. Our economy is not safe with depreciating small savings. Think together.

Our industry is in total should be like a family,. lots of time is spent on adviser, distributor, amc, associations etc,, hence there is lots of confusion created,. Why dont we call ourselves as MUTUAL FUND FAMILY rather than focusing on our roles as distributor, adviser etc,. . We should feel as A MUTUAL FUND FAMILY rather than father, mother, children, elderly etc,.which role we play. Unless that ONENESS environment is brought in , we keep facing these unclear vision. We need to get united, as a family, keeping aside our roles. Unity is strength. The strength is required to make ourselves strong and concrete, not to fight with regulator. We need to go under the umbrella of regulator. We need to work towards that goal.

" The more and more things will change - everything will remain same" We need some simple and practical solutions, but our regulator even do not know what he wants.

It is heartening to see that there is a serious thinking among several associations to work together and put forth the views in One Voice. Let it happen soon.

Well presented views and articulated/presented in a clear manner. True, we as different stakeholders need to come forward as ONE unit suggest the better creditble alternative and thus engage with regulators in much more effective way, leading to Win-Win situation for all concerned.

I disagree with Arka consulting on the issue of separating Advisory and Distribution. This needs considerable time and deliberation. Just how are small IFAs supposed to sell WITHOUT Advising ? I am sure Arka knows that it is WE Who Go to the Prospect and not reverse. Mutual funds are SOLD Not Bought. Distributors need to become more educated and ought to give proper advice AND this (advice given) must be put in Writing.

Thanks Vijay !this was one of the best panel at The conference . Well next is MFRT(Mutual Fund Round Table )Conference at Pune 14-16 August 2015. We have kept a discussion session at 4.30 pm for associations across India .this session will be moderated by Mr Sam Koshy from Kerela . The board members of MFRT (majorly representing the association heads across India ) will participate in this discussion . The idea is to bring IFA association under one roof as Mr Ramesh Bhat rightly said . We request members of association to join hands and come together to make one voice of mutual fund distributors

Very much agree of speaking with one voice. Unity is Strength. Every IFA association must communicate with others and create one Single strong platform for our concerns.

Vijay, this was by far my biggest learning from your Conference. We need to see the other point of view when formulating our solution. Forget our personal gain -- and see what, for example, the AMCs objective would be and how we could formulate a solution for financial intermediaries (advisors or distributors, doesnt matter); next look at the regulator and so on. Unbiased, professional, long term view for the common good of all, even if theres a specific short term harm for some constituents. And start with ourselves.

A somewhat different, but important area that AMCs need to address: we are talking of speaking with one voice, but AMCs play havoc in a sales situation by meaningless differentiation. For example, why cannot systematic transfer plans (STPs) be standardized in terms of minimum amounts, frequency, and dates? And while each AMC has to have its own application forms, can the content and format not be standardized across the industry? This helps in two ways: (1) I don’t need to keep track of which AMC allows weekly STPs and which ones allow only monthly STPs from daily dividend options of liquid funds (2) Transaction platforms, which may become the dominant channel for the industry, do not need to spend unnecessarily to take account of these meaningless customizations.

The advisor-distributor bifurcation is now regulation, and cannot be reversed. Serious players, who want a meaningful size have to be RIAs, with or without distribution ARN tie up.Direct plans are also here to stay. Given this, proposals for distributor compensation on account statements is too little, too late. We need alternatives allowing for (1) A bifurcated industry channel comprising distributors and advisors, and (2) direct plans. Start with the regulator’s intent: to resolve conflict of interest situations in the distributor-client model, allied with curbing mis-selling. Proposals addressing these will build a platform for meaningful future engagement with the regulator. I would urge wealth forum to aggregate ideas across the distributor and advisor community. Hopefully there will be innovative proposals that reconcile realities in a manner that is beneficial to investors, fund houses and distributors or advisors.

We are seriously working on this. Already ASK Circle (West Bengal), AKIFAA (Kerala), APIFA (Telungana ), IFA Galaxy, IFPA (Chennai ), KAMFA (Karnataka) ,PIFAA (Pondicherry) Associations had come together and created Voice of Mutual Fund Distributors under the leadership Late Lakshman and currently Chaired by Sri S K Bagaria. We are also talking with most the Associations in India to become member of our Federation of Mutual Fund Distributors Associations in India. Soon our dream will come true. For more details contact voiceofmfd@gmail.com - K. Ramesh Bhat, General Secretary, Voice of MFD

Rightly said that "nobody is going to benefit as lack of a single voice on any issue means no voice at all. No voice at all is never a good idea" Our all stakeholders as said above must ponder upon it.