“Where do I go, what should I do?????? Someone help me please………….. Did I commit any crime, Am I a sinister?? I know the witching times are back…” These horribly bad thoughts were flashing time and again. I kept on turning sides but couldn’t wink an eye. Finally I turned on the lights and had a glass of water. Oh my God, it’s already 02:45… Quickly my mind started racing---- five, no, just four hours of sleep I can afford. My manager would be in the city tomorrow, I know the meeting would turn ugly, maybe the worst. Wish someone could delay this meeting to maybe never…….. No clue when I slept but I woke up to witness a beautiful morning, dews on my window pane, everything so fresh and bright, I so badly wanted to relax. But as always even this happiness was just so transient. No matter, life goes on………………….

It was 10.30 am, and I was fully confident, today I will have to speak, no matter what is there in store for me, but I could not take this anymore. Every two months, and I am warned, I may lose my job… Goodness, my inner sense had seen a new dawn. No more lies and no more disguise…… After all I have a life and I have all rights to be happy. No one can just question me, warn me or to say the least horrify me for no fault of mine. I had decided to speak, to yell, to tell them all that I am not wrong. I had a quick recap and jotted down all my thoughts. My fears had given me a new lease of life and I was really happy about it.

Finally, I was called for some discussion with Mr.Aiyer, the person I dread the most, my manager. I could see everyone gazing towards me, looking for the earliest opportunity to pound on me. “So, Mr.Shanker, how have you been all this while and how has the work been? We have heard you have lost your interest, your values, your zeal for sales and you might lose your employment as well….. If you know Mr.Shanker, June was the worst month for our mutual fund industry and I am in total agreement that this is because of distributors like you….... I have heard you rather enjoy selling other financial products rather than mutual funds, which you should be selling ideally…. Am I right, Mr.Shanker?” To my own surprise, I wasn’t nervous at all, and was in fact smiling at Mr.Aiyer. “Sir,” I began, “I think you are right and I would be obliged to share the reasons for the same. If you permit, I would like to share my thoughts with each of you”

He gave me a sarcastic look and directed me to come in the front. I walked past my colleagues and fellow distributors, stood in a corner and welcomed everyone. Ignoring all apprehensions and weird looks, I began……

Hello everyone, you all know me well, I do not require an introduction. But still I insist, I wish to re introduce myself to all of you. You all seriously need to know me. I am a poor distributor, a hapless advisor……. Don’t be taken aback.  No, am not kidding. My journey in this industry began with a spark, but almost an year ago, SEBI came out with some guidelines, I never knew that could impact me so badly.

Guys, I am a professional. I work for money. I am not greedy, am not dishonest, am not a cheater, I am an advisor. I have my own dignity, my respect. If I say I work for money, what is wrong in that, tell me one such person who does not work for money. But that doesn’t mean, I am doing something wrong to earn it. If I provide valuable services, I am simply asking for my fee in return. Is this something wrong? How will I survive……………….. If you people, still didn’t get what I am saying, then oh ok.. ok, I will discuss in detail……………………………………………. My tragedy is not just mine…

People invest in Mutual Funds for innumerable incomparable benefits, right? Yea, right. My question is do they have all the knowledge in this world to invest safe, safest, utmost precise. I doubt, I seriously do.. Then why are we being ignored like this. We are not inexistent species, we are not a disgusting lot of people. People can make fortunes with our suggestions, by paying us a nominal fee…… Why did SEBI not realize all this?  The so called good idea about transparency, no entry load, sounds good had I been an investor with a mind and brain strong and calculative enough to judge all the pros and cons. But for a layman, a villager, a farmer, an artist, a carpenter, a washer man, a driver, a cobbler, or maybe my old parents left with some old ancestral sum- is the idea sound now?

These blue days of my life are back when I don’t have much work to do. I must say this is a melancholic epochal. At times I feel, am I a sinister, am I satanic or evil? My future seems so glum. I am not able to understand the alchemy of SEBI. This abracadabra or whatever, SEBI is doing in the name of transparency is questionable.

My manager wants me to push the sales for Mutual Funds. This broking house had been so good, until last year. We command respect for the services we have provided and will continue to. The difference being, earlier we could run our households with ease and now we are running for the sake of our households.

I now come to the point as quoted by Mr.Aiyer, the sales for June had been terrible. Sir, at the same time, other financial products have fared well. Why will I sell MF, when I don’t earn anything? I would rather sell other products. Am I wrong?

SEBI expects the industry to flourish, though it has created all possible threats for it to perish……. Instead of gaining investor’s confidence, the move hit the industry badly, as the distributors themselves have backed out. Investors need a helping hand to make a decision but are not willing to pay for the help. This has led to many agents surrendering their licenses and focus on selling other financial products.

I hope you got the answer why the industry is facing a downturn. Give me some incentive and I can make this industry touch pinnacles, it will flourish in the interests of all investors……..

Thank you everyone… I did not turn back and silently left………

Please forward this article to all fellow distributors and agents. It reflects our plight pretty well. Maybe the authorities in question could lend us a consoling hand. Waiting for that day to come soon…..