Dear Friends,
Pl tell me whether anyone has got brokerage for sundaram 2 year fmp launched in Jan 2011 - I am finding difficulty in following with the AMC every time.
Regards,
Alagappan
9841055577
Pl tell me whether anyone has got brokerage for sundaram 2 year fmp launched in Jan 2011 - I am finding difficulty in following with the AMC every time.
Regards,
Alagappan
9841055577
20 comments:
NOT ONLY FOR FMP. BUT FOR THE PAST 7 MONTHS IM SPEAKING WITH THE RM TO CLEAR THE BROKERAGE THROUGH DC.
ONLY IM PAYING TO THE TELEPHONE DEPARTMENT......
PLZ HELP TO GET THE COMMISSION.......
FOR DESPERATE IFAS
Mrs. Padma Devan
mahas_devan@yahoo.com
Don't think have received any payments from this AMC for last
Financial Year in spite of completing thew KYD formalities.Unfortunate
that SEBI probably want people to invest in Shares directly and in
long run want to screw the MF industry and the distributors who are totally dependent for their bread and nutter on them.May be the DISTRIBUTORS NEED TO COME TOGETHER AND FIGHT AGAINST SEBI,RATHER THAN TALKING TO amc'S.
Suraj Deogekar
92241 39975
surajdeogekar@gmail.com
Hi,
I fully agree with Padma that the normal B.C including trail has not come from Aug'2010.from SBNPP!!!!!!
Mohan.K.S.
mohaun@gmail.com
Dear All,
It seems SBNPP AMC RMs were instructed to do like this... something really rotten and some elements backing the unethical behavior/ideas.
Some of my clients complained about SIP not being triggered.
After several phone calls, now they're replying that we tried to contact your advisor and there's no response...etc. so, go for on-line or direct to the AMC.
The transactions are delayed or stopped for silly reasons...
In fact, all the SIPs were current and running for more than a year.
Now the clients are squarely blaming me for recommending SBNPP and vouching for their family business, ethics etc. Poor service and step-motherly attitude is creating lot of disappointed customers.
Few of my out-station clients have recorded the entire conversation in their mobile.
They are asking me to complain to AMFI/SEBI or any authorities who can really take some steps.
Few of them are ready to go to Consumer Court and RTI etc.
I told them to wait and record few more conversations from Sundaram Mutual executives.
Kindly guide me what to do? Some body should bell the cat.
Similarly, Direct Credit/NEFT request was submitted several times and so for no action taken at SBNPP. Earlier I have submitted 5 times at CAMS and 4 times at Sundaram's.
Being in Chennai this is the sad story. One can imagine the plight of out station distributors.
With Regards,
Mukunthan P
Chennai-73
Fellow friends,
SAD to know the fellow distributors are suffering despite having the desire to service the clients at the petty compensation. I also have simillar experience about the AUM the subject AMC migrated to Group company Registrars.
What is the way out,whether to strategically start offering alternate competitive MF solutions ,after taking into the Investors in confidence,and explaining them the efforts Distributor taking for providing them quality service,and the obstacles on the way home.
Bcoz ,Nothing is indispensable .Except few things,which obviously prove the rule.
Ajit
ajitjoglekar67@gmail.com
Dear Mr.Bhat,
With so many complaints around, you may consider taking the issues up with Sundaram AMC.
What about their new registrar services?
I understand from Fundzmagic that Sundaram is yet to provide the file format / structure so that they can enable the import option in the software?
Sundaram's funds have not been doing well for a while.
Seeing all these mails, I realise there may be serious service issues too.
If some unethical issues as mentioned are happening, I'm unable to fathom the reason.
Why the AMC wants to bypass the distributor? What gain they get out of it?
I do not have any RM dealing from Sundaram after a person went on leave few months ago.
Unlike other AMCs, no senior official from Sundaram interact with us. Leave alone that, we do not even know their names or contact details to escalate issues.
Regards
Muthu
D.Muthukrishnan
Certified Financial Planner CM(CFPCM)
Personal Financial Advisor
Mobile: +91-98404-03431
Email: muthu@wisewealthadvisors.com
Dear Sir,
Good Morning to you and thanks for your mail.
With regard to the earlier query by our IFA Mr Alagappan, it has be clarified and addressed to him and he told that he will confirm you on the same as well. And with regard to the second query, as we are releasing our brokerages in two phases,i think there is a confusion on the same for the distributor. As the IFA Mr Gopinathan Nair is from Trivandrum, our Kerala Head Mr Saravanan will clarify the distributor immediately.
Submitted for your kind information.
Thanks & Regards
V M Karthikeshrangan
Area Head Sales - Tamil Nadu (North) | Sundaram Asset Management Company Limited
Old No. 20, New No. 14, T.V.K. III Street |Off. Royapettah High Road | Opp. Kesari High School, Near Jammi Building | Mylapore | Chennai-600 004
Board: +91 2498 8740 | Mobile: +91 98417 23751
Email: vmkarthikesh@sundarammutual.com | www.sundarammutual.com
Dear Muthukrishnan,
You are correct;
Once I got the phone number given by the then RM.
The first question they will ask is "WHO GAVE THIS NUMBER?"
instead, they can ask, "How can I help?"
No need of recommending other AMCs. Investors themselves started migrating to other funds due to their step-motherly attitude and "world-class SERVICE".
Sad part is, we, recommended this AMC to our clients. Now both the clients as well as distributors equally suffering.
-P Mukunthan
Chennai
Dear Sir,
I have registered for the Sundaram Fund Services in the month of December and had been assured for the services parallel to CAMS but was not finding it to the mark, so I took it up with their National Head for distribution Mr. Sunil Subramaniam. This was enough for then and recently I have received a confirmation that through their site now we can download the SOA in pdf(I have checked it) which was very much needed also some 26 mailback reports.
Also that at the beginning of this month I have received the brokerage at my bank account credited directly and statement of the brokerage paid physically at my office.
My request to all of you - Please be patient for the system changes, it takes time to get all the things to get in place as desired.
Alok Khanna
khannalok@hotmail.com
Dear All,
Today we have received a direct credit confirmation for the brokerage payable up to December 2010 from Sundaram BNP Paribas Fund Services.
We will be grateful if the AMC on its part clarifies the following points:
1. As there is no communication to the distributors from Sundaram AMC with regard to what are the schemes handled by which Registrars, it is very difficult to ascertain what brokerage is pending with whom.
2. Even in the website of the Registrar Sundaram Bnp Paribas Fund Services only two schemes appear namely Sundaram Multiplier & Sundaram Small Cap.
3. In the official website of the AMC on the face of it there seems to be no mention about the Registrars and schemes they manage.
We do accept that when there is migration of registrars there will be problems, but prolonged problems with no clue of what is where is our grouse. Sundaram AMC being based in Chennai if we distributors at in Chennai find it difficult to get information please think about the plight of distributors across the country who are registered with them.
We request Sundaram AMC to take this opportunity to come out clearly on the schemes managed by which registrar and what is the time within which we can expect the backlog of brokerage being cleared.
Expecting an early resolution.
Regards
S Srinivasan
Since posts here seem to have some impact I would like to bring some more issues I have been having with various mutual funds.
One of my clients passed way and Claim was submitted at Trichy office of Sundaram Mutual Fund in October .While various other claims submitted to other mutual funds were settled as there was nomination, Sundaram Mutual wanted to transfer the units in her name and now they want her to do KYC while all she wants is her money back.When a person wants just to take away the money what is the logic of asking for her to do KYC. All relationship Managers or other knowledgeable agents are welcome to clarify.
2.While Metro agents can walk into Cams office along with original documents of clients to do KYC and return them back safely how are the agents particularly IFA's in small towns supposed to service their clients.It seems virtually impossible for both the client or IFA to go and service.The option to the client is to choose a bank based distributor.
3.Though everybody would vouch for SIP's there are a lot of transactional problems when it comes to non metros.most banks in non metros don't isuue multicity cheques or at par cheques. Most Mutual funds do not have tie ups with banks popular in non metros like indian bank or IOB.How is the non metro guy supposed to invest in MF through SIP's.Or SIP"s only for Metro people. Besides Mutual funds while they send preprinted forms for SIP renewal often send only ECS forms (Note in particular HDFC) even for people paying through post dated cheques.
3.Me and my husband both did our KYC at Cams chennai.Soon after we started receiving calls from one BLUE CHIp Investments. The lady at the other end would ask for my husband and suggest investments in SIP of Various MF's. to me! When I asked her if she would help me with the KYC she said probably he had already done it.she seemed to have not noticed that I am his wife.a IFA myself.
Regards
T K Vani
vani1964@gmail.com
Dear All,
Thanks to IFA Galaxy
Today, I have received a call from Sundaram Mutual and first time they're able to listen with patience and promised positive steps.
Hope the change over and service standards will show a remarkable improvement.
Change is constant. Agreed!
But the time and tide never wait for any.
In the bargain, our investors missed out SIPs and ECS.
I once again thank ifagalaxy for their efforts and speedy actions for the benefit of investor community.
With regards,
P Mukunthan
ARN-4392
Hi
I am coming across many messages of the same tone involving different AMCs.
What I have to say is an entirely different storey. I deal and have been dealing with only
ICICI PRU AMC. No such experience at all for the past many years.
G J SIKHAMONI
ARN-1614
Mob 9895722216
INSTEAD OF GOING ALONG WITH THE PROBLEM, WE CAN TAKE ALTERNETIVE AMCS, LIKE TOP 200,DIVIDEND YIELD BIRLA/UTI,TAX ICICI,CANARA TAX.. ETC.THIS WAY WE THIS AOMMUNITY PEOPLE CAN IGNORE SBNP. SURE THEY WILL SOLVE THE PROBLEMS,ONCE THERE IS NO BUSINESS.
Mrs. Padma Devan
It was indeed disturbing to read about the AMC trying to bypass distributors. In the business of financial services as information about clients is by default available with the AMC, maintaining the trust of the intermediaries is of paramount importance. In case some detrimental practices are followed, it may help generate some business but only in the short term. As the information about such practices spreads, it would surely affect business in the long term.
However, as one of the members has suggested in this thread, WE can be patient till the new procedures get standardised but the irony is that investors may not prefer to be as patient.
Regards,
Dharmesh
Marvel Wealth Mgt Services
Bangalore
SIR,
ALSO THE DATES FOR DC FROM AMCS STATRT FROM 9TH OF EVERY MONTH, WITH BIRLAS PAY OUT AT FIRST .WHY CANT THE AMC'S EXPEDITE THE SAME A LITTLE EARLIER...? NEXT TO SUNDARAM ITS CANARA ROBECCO & COMES KOTAK. ALL SUCH MATTERS FALL IN SEBI'S EYE?? OR THEY KNW ONLY THE IFAS?
Mrs. Padma Mahadevan
Dear All,
Since SEBI has a new chief, we should not waste time to pursue issues of our interests with him on a proper platform / thru a proper media. Since he comes from AMC, we should be pursueing it for logical resolution of pending issues in our favour.
1) Since "DIRECT" route is available to investors, those who take Broker's help and advice in their transactions, there should be entry load of atleast 1 % (on Equity scheme) which will be broker's legitimate commission.
2) Why Broker should be denied a commission on his own business. In all other financial instruments (life insurance, general insurance, Company FDs) brokers are getting commission on their own business.
Regards,
Santosh Roy
Mumbai
Ph 09867672465
Hi All,
Thanks to IFA Glaxy and their efforts,Sundaram MF has promised to look into my client's problems.
Thanks once again to Ramesh Bhatt for this phenomenal effort.
Regards
T K VANI
arn 11724
Dear All.
i am facing same problem,my brokerage of STP which is started from 2007 used to get 2.10% now from last 3 monts its coming 0.40%,inspite of complaining local office,Mr swapnil Kapse local branch incharge has not done anything he simply ignored it last 2 months i am fighting for it.As STP ( sundaram MIP TO sundaram Select MIDCAP ) is quite old ,the old comission shuld continue ,your in house RTA or change in RTA doesnt make difference,why we should suffer for your problem.your are going to pay us extra interest on delay in brokerage or pending commission.I appeal to higher authority of Sundaram MUTUAL Fund look into matter & settle as early as possible.
thanking you,
Yours truly
chandrashekhar kulkarni
ARN-15259
Nashik
Dear all,
Now my problem was due to miscommunication ,now, Mr.sapnil Kapase is looking into the matter.He is taking corrective measure.I am satisfied the way he has taken immediate action to slove the problem.I am thakful for his quick support.
thanks once again.
Yours truly,
chandrashekhar kulkarni,
ARN-15259
NASHIK
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