wealthforumtv

I AGREE WITH RAVINDRA ARN 9283,ARN 16655 & ALSO ARN 82204 REGARDING THIS MOST COMMON SENSE ISSUE. No need for individual . Not necessary to discuss more but action / representation to be taken with proper representation required to AMC,SEBI & also AMFI that you can not insist to put/ mention compulsory put EUIN symbol but it should be come automatically when IFA trail arises & ready for issue chq/ ECS if they insist it is necessary. because EUIN idea created by them & this idea will / shall be come on platform on RTA automatically. whether we represent application form fillup by hd and/ on e form

pl advise euin is nesscery for all investment.

When IFA make yearly declaration of not employed anyone for sales then EUIN for such cases should be NOT APPLICABLE.

there are many tactics being followed by regulator'' s to rob our (INDIVIDUAL FINANCIAL ADVISERS) commission and client s to corporate Financial advisers or corporate brokers. this is one among that. for e.g the most un sucessful rajive gandhi equity schemes. the hidden objective is sending mf clients to share brokers who are all big corporate . so that they will get the opportunity to convert the mf investors as daily traders. end of the day corp will make big money and the investor fate is known to every one

Very Much True When IFA is doing business as an Individual why you need EUIN it does not make seance.

Yes, I feel your view is valid. More over are we Employees to be allotted Employees'' Unique Identification Number. May this also be xlarified.

I agree Ravinder certainly not required.

I as a independent financial adviser i advise client to have email id and mobile number also online e pin to my client so as to avoid unwanted disturbance when redeeming there units such as signature mismatching. But that is the big problem to me that when they having e pin, they tend to purchase units online at that time they want enter the arn number and EUIN number both, this an unnecessary because they dont want enter these things if they see the Direct option which is displayed default. My suggestion is if the folio is created through a IFA when online purchase takes place in the same folio the default should the IFA code and EUIN number also, more over we could not compel the client to type the arn and euin, somebody not remember these numbers.

It is really true that investor is keen to invest. He is more interested for his investment. He is sometime not knowing about EUIN. In old days people were not knowing any thigh about entry load. I PERSONALLY feel that the role of a regulator is not to disturb the on going system. Some time this discussions come in business magazine and news paper. I am only trying to tell why our discussion is discuss in the general public. Now the common investor is some time asking what is the need of EUIN No and trail commission. Why EUIN No. is not necessary for bank employees. For the development of the industry we need simple rules as our industry is having very small part in the industry. i do not understand why we copy from advance countries . our people are not having proper knowledge of the same. Our regulators should try that more and more interest is created for more jobs, Please try to help the indutry, AMC, DISTRIBUTORS ETC.

I absolutely Agree on this. This whole EUIN thing for Individual IFA''s is really very funny and also VERY Irritating. The first word itself is Employee, if we are self employed EUIN does not apply at all. Thanks Mr.Ravinder for bringing out this topic. There are a lot of Silly Issues/DiKtats that are issued by SEBI. I very much feel that we all must come together and file a petition with the High Court against such injustice. Well here at least we can express our anger and contempt.

This is a relanant discussion. If an IFA is doing business all by one self , then the EUIN is just a redundant number. But if one employs assistants in the course of business, then its needed.So to address this SEBI / AMFI shall come up witha proposal , that if any IFA declares ( on similar lines with self decleration form) that one is doing all activity by own , and no others are employed, EUIN number need not be asked for such IFAs / ARNs.

Dear All Concerned, The concept of EUIN is meant to be for larger orgnaisation(s), institution(s) and bank(s) not for the individuals. As I am decade old organisation as a proprietor, forced to become and EMPLOYEE-CUM-PROPRIETOR?! Sounds silly and many of our clients LAUGH at the methods of our "USUAL GOVT. WAY". INDIA DOES NOT HAVE ANY THING ON ITS OWN, JUST SIMPLY COPY OR ELSE GOOF UP THINGS. The former SEBI Chief quote " To make awareness about the mutual funds to the general public, ATM (Any Time Message) machines need to be placed" This was flashed on TVs while removing the ENTRY Load! it looks pathetic that an intellectual mind does meaningless. PROBABLY, broking community(MF) may get vanished but I am always bullish, as my clients vote on trust. Srinivasan V.

It is quite obvious that client can not mention our EUIN, and since because of our conviction that he invested , 5-10 years earlier that he may require any assitance , as and when required.

I also support the demand that IFAS who do not have employees should not be required to fill EUIN numbers it does not make sense. What a mimicary that a self employed has to say that he is employed by himself. AT the most if the authorities want they can get a tick option in the investment saying investment done without advise or with advise. They can keep those columns and declerations there but need to fill EUIN should be removed ELSE the registrars systems should have default option to automatically link the EUIN number to ARN for all online and offline investments for those IFAs who do not have employees. For IFAS keeping employees as it is the system keeps tab of various EUIN''s mapped to his ARN so there EUIN no filling maybe kept , But the case of no commission payable should be removed and clause Comission not payable till EUIN number Updated maybe added to ensure fixation of responsibility if that is the motto of EUIN no

It doesn''t make any sense, for banks and nd''s its fine.

I agree with the request of doing away with EUIN for an IFA who alone is doing the business without any assistance

Those IFAs, who do not have any staff for sales & marketing do not need EUIN. Authorities can take a fresh declaration from IFAs who do not have any staff for sales & marketing to relax the requirement of EUIN. EUIN requirement complicates the business For self employed IFAs. I support the demand of relaxation in EUIN requirement for self employed IFAs.

the strong salaried people at SEBI , AMFI, nor the AMC managers can bear the wrath of the IFAs as every body is slowly trying to benifit from the marketing done by the IFAs at the first step of bringing in a investor by convincing him to participate in the market related mutual fund then on wards every AMC lures the investor to do things online and encourages more not to mention the broker code. an individual IFA once declared that there are no persons working for him unlike banks and broking firms HE SHOULD BE CLEARLY EXEMPTED FROM MENTIONING THE EUIN NUMBER both in aplication and online transaction. with bare thin trail commissions its very difficult for an IFA to get moving.

IFA is an Independent Financial Advisor, we personally advise clients about their funds investments based on their personal financial goal, for the convenience clients buy/ redeem/ switch on line after telephone or personal other ways of discussussion. if he miss enteing EUIN it is very deficult for IFA to get the commission on the transaction. it is irrelavent to IFA. it is needed to Bank employees , National Distributors even then employees change freequently the organisations for higher salary or other benefits.

IFA is an individual advisor who himself handles all the financial activities related to his clients hence need not any EUIN.

I agree with the request about doing away with the EUIN for an IFA as proposed by Sri Ravinder Konda of Hyderabad. Too many identification marks are not required. When the IFA is given an ARN number, it should suffice for his participation in all transactions. The EUIN for an IFA is a duplication and the investor can not be expected to remember it and use them. The SEBI may please consider on this issue and be done with the EUIN for an individual.

Not necessary. When we are only one individual, this is not required. Recently i received a mail from karvy for two investments, EUIN expired. How EUIN can expire. I represented the concerned AMC & they working now. This is a waste of time to mention EUIN.

well, one imp. point is that if investor invest online... why euin required? euin is to track person who adviced investor. if investor make online tranzaction with out consulting arn holder but wish to have brokerage to arn holder then why should he quote euin? in offline form also investor can sign same declaration. then why its not in online mode. like investor want his investment under someones arn but had not consulted to any one hence euin is blank...

If the principal ARN is IFA, then there is no need of EUIN because EUIN is set to track the original adviser for the fund suggested and in case of IFA is responsible is cristle clear. So, in my sight there is no need of EUIN remidiation for IFA.

SEBI & AMFI can identify with the ARN number itself, then why this EUIN? If we recollect few years ago they introduced KYD, even though they have all the details of ARN holders including Bank a/c details. I think they want to show that they are doing some work, but what is the actual effect of these acts? Some knowledgeable and well informed persons and groups should look into these and come out the facts.

Dear Ravinder, sebi has habit of making things complicated, there is absolutely no logic in giving euin to ifa, it is ok for corporate advisor, in the name of regulation and protection of investor sebi just goes on creating new norms, there by trying to set importance

ARN Holder has already submitted a Declaration to AMFI regarding employees engaged for selling of MF Products. EUIN No of Individual IFA who does not have any employee should be automatically mapped.

Simple. Just giving exemption to Individual IFA from affixing EUIN is required. Because, just go through Form for Remediation. It is a Form giving just name of the IFA and Folio. There is no Declaration to be made and Undertaking by IFA that this investor has been educated with all the pros and cons of investment in Mutual Funds.

IFA means a single person and has only one EUIN unlike other organization ND & BANK where multiple employees having EUIN. For online investments when ARN is selected by investor automatically the EUIN should be selected. Here Sole Proprietor or IFAs are losing their brokerage.

If client invest with ARN or distributor then it doesn''t make sense to have EUIN no. and why EUIN no. is for IFA due to this if client or IFA miss to write EUIN no. then brokerage will not release . Are IFA''s are thief who need EUIN no. for there proof in eye of SEBI ... And when CAMS or KARVY doesn''t capture invested with EUIN then again distributor has to explain again to client about all episode SEBI first clear this types of point which are against IFA then with EUIN ....

THINGS MADE EASY. BUT REMEMBERING EUIN IS NOT SO EASY. ITS TIME TO RE-THINK IN FAVOUR OF ADVISOR. REGARDS SADANAND PRASAD ARN-77662 CONT- 9835155205 / 7209063130

IT IS VERY DIFFICULT TO REMEMBER ALL NUMBERS.INSTEAD ARN NUMBER IS SUFFICIENT.. iT IS CUMBERSOME TO MENTION ALL NUMBERS.

YES ITS TRUE AS AN IFA IF ANYONE WISH TO TRANSACT ONLINE ARN APPEARS AUTOMATICALLY BUT ITS NOT EUIN. BUT EUIN IS COMPULSORY. IF EUIN PUT INITIALLY THEN IT SHOULD BE AUTOMATICALLY COME AS ARN NO. OR IT WILL BE NOT COMPULSORY IF PUT AT THE TIME OF INITIAL PURCHASE. THANKS AND REGARDS

EUIN is not required for IFA''s.But to bring parity with corporate distributors,they implemented it for IFA''s also.When clients made online purchases ,when they enter ARN,EUIN is displayed automatically.So that they need not remember it.

When I attended a recent presentation by a Fund Houes, I had raised this very query about the EUIN No. being a superfluous input for Advisors where no employees are involved. They expressed helpnessness. My point of view is that perhaps 80-90% of the ARN Codes are likely to be single Advisor based entities. For such, it is enough to take an input whether there are, or not, additional employees. If the ARN holder is the sole person handling the distrubution, there should be no need for supplying a EUIN Code. It is describing the same entity with two codes or numbers which is faulty practice and no wonder the issue that is quoted in the brief for this forum comes up. EUIN Remediation in such cases is avoidable, being a sheer waste of time, and the sole proprietor ARN holders without employees will not be harassed this way. High time the situation is rectified. K Subramanian

I too agree with Ravi. If an IFA who is doing business on his/her own, what is the need of quoting EUIN every time for all transactions. Anyways, he/she is waging a lonely battle ! If IFA''s client wants to buy more units online, quoting so many numbers is practically impossible. One has to remember his/her own so many passwords, how can client remembers IFA''s EUIN too, in addition to ARN. This should be done away with ASAP.

IFA-individual financial advisor EUIN-employee unique identification number An employee can not be individual,they both are contradictory,mis-selling fields are never tracked,owing to target pressure the mis sold field is banking and where they are doing with the least number of EUIN,there is no action till now

Very Valid Point. Needs Urgent Attention. All IFA Assocations including FIFA should demand exclusion of EUIN procedure for IFA, IMMEDIATELY.

Kindly advice how can we resolve it by making presentations to SEBI? mere discussions will yield nothing and we will have to grin and bear with the injustice.

The EUIN is if I correctly understand is from AMFI . AmfI wide letters thru their Ragistrar CAMS had sent this EUIN to all IFAs without making any application by any IFA at least I had not made any request/ application to allot me EUIN as it is not applicable to me as per SEBI guide lines. So now if AMFI has alloted this no., based or linked with my ARN so when I write my ARN correctly or my client when doing transaction online/ sms from mobile then there should not be any need for EUIN to be mentioned as I am not employee of any institution from where I am going to runway by mis saling to clients. So my request to AMFI SEBI n our organazations like FIFA to save us as when EUIN is not mentioned or wrongly mentioned n not corrected within 7 days our upfront/ trail is gone which is penalty to us for what ? .

I agree with Ravinder konda

There is no point in discussing the issue amongst ourselves. IFA forum should take up the matter with SEBI and get a direction to RTAs to mark EUIN themselves if the log in is done by an IFA

Absulitely it is foolishness

yes,i agree with u.an individual ifa,who does not have sub-brokers or employees,does not need EUIN.It may happen missing EUIN in some cases.SEBI should rethink and remove EUIN for individual ifas.

I agree with Mr Ravinder that individual IFA working without staff doesn''t require euin no.It is only a harassment to IFA''s.

AMFI always try to disturb the IFA community by introducing unwanted issues The tenure of ARN validity come down to 3 years from 5 years and the fee also hiked There are so many wrong selling still doing in the Insurance sector there is no control on it IRDA support all the wrong selling of Insurance Sector same time the Banks who sells Mutual Funds also doing wrong selling

Yes IFA not need EUIN if they do not have subbroker .If we forget enter Euin our commsion lapesed. Amfi should rethink

I FULLY AGREE AND FEEL THAT AMC SHOULD AUTOMATICALLY TAKE EUIN NO AGAINST ARN NO MENTIONED ON THE APPLN FORM......

It creats unnecessary problems , specially if our client put online application for purchase.

I TOTALLY AGREE WITH MR.RAVINDER.IT IS UNPRODUCTIVE ENHANCEMENT OF WORK OR FORMALITIES.

I Know maximum IFA DOES NOT have any supported staff and office. SEBI asked EUIN for IFA means harresment means poor people of this country should suffer. I have lost lot of brokerage because my clients does not put euin or wrong EUIN after advise properly. Brokerage should be paid to IFA ONCE EUIN no mentioned.

I TOTALLY AGREE WITH MR.RAVINDER.IT IS UNPRODUCTIVE ENHANCEMENT OF WORK OR FORMALITIES.

IFA are Independent Finincial Advisors,most of them work themselves only and not with there team. Wherein an IFA is having a team may be then EUIN is required. Hence i do no buy the idea of putting EUIN along wth ARN.

Whether we like it or not Sebi has made it mandatory for their own reasons. We are helpless as usual.But its amc''s responsibilty/obligation to take the euin no by default once client enters arn number. Client should not worry about so many nos. He is already doing a favour by entering or accepting our arn no. Amc s should not deny us even the small commission they are paying to us on this basis that client has not entered euin .Amc s talk in length & breath that they are with us & not for direct investments which is hollow if they deny us commission on the basis of absense of euin which is an insignificant no for IFAs.

IFA need not require an EUIN No. it is only creating additional formality for IFA ''S especially when client try to invest additional purchase online he / she may not know our EUIN No. and may not enter that column hence, we may not get brokerage for that investment.

i agree ifa is not required for euin no.

I agree with Ravinder Konda. Hyderabad

Agree with Ravi B S, there is no use of EUIN for IFAs

I AGREE

I agree with you that mentioning ARN as well as EUIN is shere duplication

very useful

Since IFA is not employed by any r wealth management company nor by any amc or a corporate for any salary. hence it is not necessary to have seperate identification than ARN and it is only duplicate of work. Otherwise when customer investment online through us our EUIN NUMBER SHOULD AUTOMATICALLY APPEAR .

IFA don''t need EUIN

I think there is no use of EUIN for IFAs

yes i also with you sir