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Dear Friends, It is very much clear indication from SEBI, AMFI and all Big AMC's that they want to end the IFA story and want to work on Direct mode and with the Big Players only. I have noticed some points, which I would like to share with you all. 1) In all the meetings, some of MF industries so called expert always blame the IFA's for miss selling, and they themselves advertise the NFO's on their website. In ICC MF Summit in Kolkata, I had asked a question to the panelists (Senior AMC Official’s & the Said Expert) that, The AMCs launche all these high brokerage products for increasing their market share and all these so called experts advertise the said products on their website & e mailers, and after so much of advertisement about the product if any customer wants to buy it and if you sell it.. (PLEASE NOTE THAT AMC IS NOT MISS SELLING AS THEY ARE IN BUSINESS TO EARN PROFIT) (PLEASE NOTE THAT THE EXPERTS ARE ALSO NOT MISS SELLING BECAUSE ADVERTISEMENTS ARE THEIR SOURCE OF INCOME) (FOR IFA the language and rules change --- OH! WHAT HAVE YOU DONE ? YOU MISS SOLD THE CUSTOMER THE WRONG PRODUCT..DON'T YOU KNOW ITS A CRIME.......) A simple question to all AMC's, why do you launch these products in the first place, to just increase your market share?? and to all such so called experts, why do you advertise it on your website?? If you know that it is not good for the customer..WHY..????? Just see the CURRENT brokerage structure of AMC’s they are giving high brokerage on the sectoral & small cap type funds and less on simple diversified funds..They want us to sell these high commission products…Don’t they promoting miss selling….??? 2) After ban on entry load and start of direct mode, SEBI asked the MF advisors to collect their advisory fees directly from the customers IF THE CUSTOMER IS SATISFIED……. Just a simple suggestion – As SEBI, AMFI & AMC’s want the best advice & services on minimum cost (HIGH COST IS ONLY IFA COMMISSION AS PER THEM), WHY DON’T THEY GIVE SAME OPTION TO THE CUSTOMERS THAT IF YOU ARE SATISFIED WITH OUR FUND MANAGEMENT & SERVICES THAN ONLY YOU HAVE TO PAY US THE MANAGEMENT FEES BY A SEPRATE CHEQUE. SEBI should issue a circular immediately on this… SEBI should also apply this to their TOP SENIOR MANAGEMENT SALARIES…(Who’s salaries are in CRORES…OOPS..THIS SHOULD NOT TO BE MENTIONED) that if customers are satisfied with the management of the SEBI then only they will write a separate cheque for the salaries… Don’t you think this is more INVESTOR FRIENDLY… 3) Now the two choices for the customer (1) DIRECT (2)Non – Direct SEBI & AMFI & all AMC’s want to give choice to the customer that they can choose the modes as per their choice..Means if a customer wants to go direct he can go direct and if wants to invest through any advisor he can do so…than why AMC’s are promoting only Direct modes..?? I just want to share my experience on the same… In one of my transactions with an AMC, I forgot to put my broker code and the investment was done in Direct mode as default, now as per the option given I had submitted the customer request to transfer the same business from direct to my broker code..but I was surprised to know that the request was rejected by the AMC, after enquiring for the same I got the reply with the logic that there is difference in NAV’s of both plans so it cannot be done.. Now my simple question to all the AMC’s if there is difference in the NAV’s of both the plans (Direct Vs Non Direct) than how can you transfer the same on reverse side i.e. from Non Direct to Direct?? Some of the AMC’s are also giving the option to the customers to simply transfer the Non Direct SIP to Direct SIP but not possible for reverse case from Direct to Non Direct…Why is it so?? 4) Why not SEBI fix the standard brokerage according to product segment?? (AS IRDA HAS DONE) and should penalize the AMC’s who are not following it (AS IRDA DOES). Why AMC’s are changing the brokerage structure every month/quarter for the same products? Which is practically not possible for an IFA to track on regular basis, and why don’t they make the standard rates as in insurance products so that a new IFA who wants to join this industry as well as the old IFA’s in the industry can make their future business plans, but now everything is uncertain.. All I had shared is with my little knowledge. Experts comments & suggestions are welcome…