In India, after independence various trade and business organisations have been formed to voice the concerns of members, to represent the concerns of the members to the Central, State Governments and other regulatory authorities. Some such organisations are Confederation of Indian Industries (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) etc. After the opening up of the Indian economy, the finance industry has evolved as one of the major players. In the capital markets as a vehicle for garnering and employing funds of the common people Mutual Funds have played a prominent role.

Regulatory changes beginning with the banning of entry load have had far reaching impact on the business of the IFA community. Thereafter regulatory changes are being frequently introduced which are adversely affecting the manner in which the IFAs conduct their business. As a result not just our community has shrunk but even the growth of the Mutual Fund industry has been hampered. The avowed commitment of SEBI is of retail participation and financial inclusion. The concerns of IFAs and problems plaguing our community need to be highlighted to the regulatory authorities in a manner conducive to the growth of the Mutual Fund industry and the business of the IFA community.

The recent circular on distributor due diligence and the proposed regulations on investment advisors would have serious consequences for the IFA community. Out of concern some of the IFAs have made representations to SEBI, AMFI etc on behalf of the IFA community. In the course of such interactions it was realized that any interaction and involvement with the regulators would have meaningful effect and impact only if we make a common plea on behalf of the whole community of IFAs.

Independent Financial Advisors have provided yeoman’s service to the Indian investors. The Securities and Exchange Board of India has been periodically bringing in regulations to regulate this industry in order to promote and protect the interest of the Indian Investors. In consonance with the intent of SEBI, as an Industry the IFAs need to rise to the occasion and come together on a common platform to proactively interact with the policy makers and to educate and empower the members to render proper service to the ever growing investor class in India. Foundation of Independent Financial Advisors has been incorporated as a Non-Profit Organisation under Section 25 of the Companies Act, 1956. The foundation has received its Certificate of Incorporation on 15th February 2012.


Bank Account details of FIFA

M/s. Foundation of Independent Financial Advisors in Axis Bank Ltd.
Account No.:
912010011183458

For Further Inward Remittance the following details are given below :
MICR Code: 400211059
RTGS Code: UTIB0000695
IFSC: UTIB0000695
Axis Bank Ltd (Churchgate Branch)
12 Moti Mahal, Next to CCI Club, Mumbai.