About us

All India Mutual Fund Distributor Welfare Association

Who we are​

All Mutual Fund Distributors Welfare Association, popularly called as “AMDwA” is a Non-Profit Association, formally registered under The Societies Registration Act, 1860, with sole purpose of the Welfare of Mutual Fund Distributors (MFDs) and other Financial Intermediaries.

Besides its members’ growth and grooming by conducting series of Knowledge Summits/classes and Training workshops, both online and offline, AMDwA also cares for its member’s overall well-being and growth as a family. Bringing our fraternity’s issue at large in notice of not only Industry Regulators – SEBI, AMFI, but also with AMCs and RTs, AMDwA also dedicated towards protection of the interests of the MFD fraternity.

Mutual Fund Distributors (MFDs) have been working very hard in spreading Financial Literacy, Financial Awareness and Financial Inclusion in India, but there is no one to voice for their own concerns and point of view. AMDwA came into existence to take up such issues with the concerned authorities or organizations to be recognized and heard. This Association is dedicated towards the Welfare of MFDs, Protection of their Rights, to Enhancement their skills and promoting ethical practices among its members.

AMDwA’s Initiatives During the COVID-19 Pandemic

The COVID-19 pandemic presented unprecedented challenges for everyone, including Mutual Fund Distributors (MFDs). Amid the first phase of the lockdown, when movement was restricted, AMDwA seized the opportunity to enhance the knowledge and skills of its members. The association organized over two dozen webinars featuring eminent speakers and accomplished MFDs, covering a wide range of topics to empower its community.

Key themes covered during these sessions included:

  • Portfolio Construction and Scheme Selection
    Strategies for building well-diversified portfolios and selecting suitable mutual fund schemes or products.

  • Understanding Asset Classes
    Insights into the behavior of various asset classes and their role in portfolio management.

  • Client Management During a Crisis
    Techniques for effectively communicating with and supporting clients during uncertain times.

  • Accelerating Business Growth
    Practical tips and strategies to achieve exponential growth, with a focus on scaling business operations.

  • Leveraging Social Media and Digital Marketing
    Guidance on using social media platforms and digital marketing tools to expand reach and engage with clients.

  • Harnessing Technology
    Tutorials on maximizing the use of online transaction platforms provided by RTAs and exchanges to improve efficiency.

  • Motivational Sessions
    Inspirational talks by renowned NLP trainers and Art of Living faculty to help members maintain a positive mindset.

These initiatives demonstrated AMDwA’s commitment to supporting its members during difficult times, equipping them with the knowledge, tools, and motivation needed to adapt and thrive in a rapidly changing environment.

Glimpse of the Activities

All Mutual Fund Distributors Welfare Association (AMDwA) was established on 26th March 2016 with a mission to address challenges affecting the working environment of Mutual Fund Distributors (MFDs). AMDwA has consistently engaged with relevant authorities and organizations to advocate for the collective interests of MFDs. The association is equally committed to empowering MFDs with the knowledge and skills necessary to excel in their profession and serve investors effectively.

Key Initiatives and Contributions:

AMDwA has undertaken several impactful initiatives for the benefit of its members, the broader MFD community, the mutual fund industry, investors, and society. Some of its notable efforts include:

  1. Advocacy for GST Exemptions:
    AMDwA actively lobbied with SEBI, the Ministry of Finance, the GST Committee Chairperson, and other key stakeholders. The association submitted letters and held discussions with over 204 Members of Parliament and CBDT officials, advocating for GST exemptions for interstate service providers. As a result of these efforts, MFDs with total brokerage earnings below ₹20 lakhs are now exempt from paying GST, providing significant financial relief to smaller distributors.

  2. Commission Disclosure Clarifications:
    AMDwA successfully engaged with SEBI to address concerns around commission disclosure. The association ensured that account statements do not disclose the Total Expense Ratio (TER) of direct plans. Additionally, a disclaimer was added, clarifying that commissions paid to MFDs encompass operational costs and taxes. These efforts safeguard the interests of MFDs and provide greater transparency for investors.

  3. Addressing Debt Defaults and Portfolio Segregation:
    AMDwA proactively raised concerns with Asset Management Companies (AMCs) regarding the default of debt papers and the segregation of portfolios. The association ensured that AMCs communicate with MFDs about the underlying reasons for these issues and the actions being taken, fostering transparency and trust within the ecosystem.

  4. Resolution of Operational Challenges:
    AMDwA has consistently worked to resolve operational issues faced by its members in their day-to-day interactions with registrars and AMCs. The association’s proactive interventions have streamlined processes and improved the ease of doing business for MFDs.

  5. Formation of a National Coordination Committee:
    Recognizing the need for collective action, AMDwA facilitated the establishment of a coordination committee comprising prominent MFD associations across India. This initiative has fostered collaborative discussions and unified responses to challenges impacting the MFD community nationwide.

  6. Support During the COVID-19 Pandemic:
    During the unprecedented challenges of the COVID-19 pandemic, AMDwA collaborated with AMCs and registrars to enhance digital operations. These efforts enabled seamless business continuity for MFDs, ensuring their ability to serve investors effectively even during lockdowns.

AMDwA’s Initiatives During the Pandemic and Beyond

During the pandemic, AMDwA proactively addressed challenges faced by Mutual Fund Distributors (MFDs) and extended critical support to its members and the mutual fund industry.

  1. ARN/EUIN Renewals and eCPEs:
    AMDwA successfully advocated with AMFI to address the renewal challenges of ARN/EUIN during the pandemic. As a result:

    • The validity of expiring ARN/EUINs was extended significantly.
    • eCPEs and online exams were introduced, allowing MFDs to complete the renewal process from the comfort of their homes.
      Additionally, AMDwA requested AMFI to extend the deadline for name changes necessitated by SEBI, which was graciously approved.

  2. Support During the Second Wave of COVID-19:
    During the devastating second wave, AMDwA formed a volunteer group of its members to provide crucial assistance:

    • Compiled and shared verified resources for healthcare services.
    • Assisted individuals in the MF industry with timely information and support for arranging necessary resources.
    • Organized donations from members to financially assist fellow MFDs and their families in need.

  3. Advocacy for Operational Improvements:
    AMDwA proposed the following initiatives to AMFI for streamlining MFD operations:

    • Creation of a centralized online nomination platform for MFDs across all AMCs.
    • Auto-empanelment of new MFDs with all AMCs at the time of ARN issuance.
      These proposals were well received by AMFI and are being actively pursued.

  4. Support for Families of Deceased MFDs:
    AMDwA urged AMFI to encourage AMCs to expedite claim settlements for deceased MFDs and provide support to their families. Many AMCs responded positively, extending assistance to families who lost their loved ones during the pandemic. AMDwA acknowledges and deeply appreciates these gestures.

  5. Recognition and Media Coverage:
    AMDwA’s efforts were widely appreciated and covered by various media outlets. The Financial Freedom Fraternity honored AMDwA for its commitment to social responsibility, benefitting its members, the mutual fund industry, and society.

Commitment to the MFD Community:
AMDwA remains steadfast in its mission to support MFDs by resolving key issues, advocating for systemic improvements, and organizing educational programs. The association is dedicated to ensuring a healthy and sustainable operating environment for all MFDs.

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