Mera bharat Mahan..we will look at problems in isolation and keep wondering what is the solution.

Look at the Haryana population. They will kill every girl child in the womb itself or as soon as the girl child is born. And this they have been doing it for a very long time and of course it takes a bullet to penetrate their heads.

ON the other hand the men cannot find girls to get married to and they will go to the north east, Kerala, etc. and kidnap girls. These girls then become the property of the family. 2-3 brothers will share her and may even have kids with her!!

What is this doing in a finance blog?

Well, well, our regulator.

Sebi, the mutual fund regulator has been singularly responsible for breaking and dismantling the mutual fund distribution – the Mom and Pop shops. These are those small people not too well qualified and not able to get a job in any other place. Sebi in its usual style took some examples of how if one IFA had 1,25,000 clients doing an sip of Rs. 50,000 for 230 years the distributor would be richer than Warren Buffet. They forgot that an average IFA had 40 clients doing 2 sips of Rs. 3000 each for 3 years.

The situation is so bad that they cannot attract any new talent – and I do go to lower end colleges where children are not from a rich background. Selling mutual funds, life insurance, etc. is just a no no.

I was talking to a HNI mutual fund agent with an annual income (annuity) income of Rs. 10 lakhs a month. His children have no interest in the business!! So the business is either up for sale or some of these people will die without a proper succession plan. There is no attempt at all by the industry to streamline the business. Most of the big agents are old and the whole distribution business is in bad shape.

Then SEBI spends OUR HARD EARNED money to see how to ‘strengthen’ the mutual fund distribution and to reach the small customer..and comes to the conclusion that the distribution has to be…OMG read on…

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