If you read the mails that IFA associations get from their members – IFA galaxy’s Alagappan, or other independent financial advisors – it is quite disturbing.
Just today itself there are complaints against 2 reputed fund houses – DSP and Hdfc for errors (and he goes on to say that it takes a long time to sort out what looks like ‘clerical’ error.
He then has gone on to allege that Birla Sunlife Mutual fund has done something worse..and he wants to go to SEBI over it!
The mutual fund industry will soon have 5 profitable (well they can pay their salaries and other expenses) and the others. People with less than Rs. 50,000 crores will find it difficult to justify further capital from their parent organisations…
However if they are in trouble you thought they would deal better with the IFAs. Well it is not happening.
God bless the mutual fund industry 🙂
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