Personal Finance Blog India –

Mutual Fund Transaction Messages & Its Either Advisor Or Distributor:

Become Either MF Distributor Or Advisor:

Finally it seems that regulators come to know that distributors just can not work as advisors.SEBI have released concept paper before few days back where it wants intermediary to choose either to become distributor or advisor.Distributors will get upfront brokerage from mutual fund houses while they will not be able to charge any fee from investors.Advisors will not get any upfront commission as well any trail commission but they can charge fee from investor directly.Its not clear whether advisors will receive trail commission for old asset or not.

SMS messages for mutual fund transactions:

Telecom Regulatory Authority Of India (TRAI) have just stepped in to relieve you from annoying commercial calls and sms.But if you have subscribed to National Do Not Disturb registery,then its possible that you may not receive any sms communication from mutual fund companies.

But even then if you want to stay updated and here from AMCs then TRAI have given you an option to allow sms from certain cateogaries.You will receive communication only between 9:00 AM to 9:00 PM.

There are total 7 cateogaries to choose from and messages about financial transactions falls into first cateogary.

So send “Start 1” to 1909 to activate partial DND.This will allow you to receive SMS alerts from all Banking/Insurance/Financial products companies.

How to de-register?

For the fully blocked cateogary,send “STOP” to 1909.This will entirely de-register from your current status.

Telephones calls/sms are free of cost to this number.Operator can acknowledge the request within 10 days while it will effective within 45 days from date of request.

Category: Mutual Funds


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