SEBI Reduces Commissions Of Mutual Fund Agents
Mutual fund agents in India is leaving field due to low commission and high cost of Infrastructure. Mutual fund agents was getting commission of 2-2.5% prior 2010 . Now they are getting only 02-0.5 commission for selling any schemes. Nearly 80% independent distributors left field due to low commission.
The cost of travelling got triple since 2010 to give service to customers. The cost of exam fees of AMFI got increased from Rs500 to Rs3000. The validity of licence is also reduced from 5 years to 3 years. Mutual fund agents Manoj Pandey of having AMFI code 15859 worried about his profession as Mutual fund agent at Mumbai. As per him commission got reduced and infrastructure cost getting increase in every 6 months. Mutual fund companies are also not providing office infrastructure support to active agents. As per agent Suresh Prabhu from Mumbai customers not willing to pay extra fees for any services in cash.
Mutual fund regulator SEBI employees getting high salary every year but the servicing agents has to give sacrifice for the customers of Mutual fund.
 |
| Manoj Pandey Mutual Fund Agent |