How important is the army of facilitators like distributors, brokers, agents and advisors for India’s financial ecosystem?
The distributors, agents and financial advisors – they all play one common role that is connecting financial product to the end investor or customer. From that perspective, their role has always been undermined. They play a very significant role in picking the financial product and taking it to the end customer. Unfortunately, they work in a hybrid mode. In a hybrid mode, they operate both conventional and digital system.
In my view, the time has come when all the financial products need to be distributed using the mechanism like exchange collection platforms so that the intermediary job is possibly more qualified towards the advisory to the endcustomer. The backend part of the activity is looked after by the exchange mechanism. That is definitely the need of the hour now.
This story is from the May 2021 edition of Outlook Money.
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This story is from the May 2021 edition of Outlook Money.
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