ADVISOR INVESTOR AGREEMENT
THIS AGREEMENT IS AN ELECTRONIC RECORD IN TERMS OF INFORMATION TECHNOLOGY ACT, 2000 AND RULES THERE UNDER AS APPLICABLE AND THE AMENDED PROVISIONS PERTAINING TO ELECTRONIC RECORDS/DOCUMENTS IN VARIOUS STATUTES AS AMENDED BY THE INFORMATION TECHNOLOGY ACT, 2000. THIS IS A COMPUTER GENERATED ELECTRONIC RECORD AND DOES NOT REQUIRE ANY PHYSICAL OR DIGITAL SIGNATURES. PLEASE READ THE TERMS AND CONDITIONS OF THIS AGREEMENT CAREFULLY. TERMS AND CONDITIONS MENTIONED IN THE AGREEMENT IS A BINDING CONTRACT BETWEEN THE ADVISOR, REFERRED HEREIN BELOW AND YOU (INVESTOR). THE TERMS ARE EFFECTIVE UPON ACCEPTANCE AND WILL GOVERN THE RELATIONSHIP BETWEEN YOU AND THE ADVISOR, INCLUDING INVESMENT AND FINANCIAL PLANNING RELATED SERVICES PROVIDED BY THE ADVISOR THROUGH THE WEBSITE WWW.MANAGEMYFORTUNE.COM AND THROUGH OTHER MEDIUM SUCH AS TELEPHONE, CHAT, VIDEO CHAT, BLOGS, ETC. TO YOU. IF THESE TERMS CONFLICT WITH ANY OTHER DOCUMENT/RECORDS, THE TERM AND CONDITIONS OF THIS AGREEMENT SHALL PREVAIL.
- “Company” or “MMF” means and includes MMF Financial Advisors Pvt. Ltd. and ManageMyFortune Brokers Pvt Ltd and/or its present or future affiliates.
- “Investor”, “you” or “user” means who seek Investment Advisory through the Website.
- “Investment Advisor” or “Investment Adviser” or “Adviser” or “Adviser” means the empaneled (on the Website) Investment Advisor who is duly registered with SEBI as an Investment Advisor (IA) under the Securities and Exchange Board of India (Investment Advisors) Regulations, 2013 or is in the process of registering with SEBI as an IA
- “Investment Advisory” means advice provided by the Investment Advisors, based on the details provided by the Investor and other services incidental and relating to it.
- “Non-individual Investor” means any person, HUF, partnerships, Companies, banks, etc.
- “Subscriber Agreement” means the Subscriber Agreement executed between the Company and the Investor.
- “Website” means the website owned by the Company in the name of www.managemyfortune.com
2. INVESTMENT ADVISORY
2.1 Subject to the Subscriber Agreement, upon the registration on the Website, the Investor shall be provided with a questionnaire (“Questionnaire”) detailing the Investor’s risk profiles, Investor’s financial position (assets and liabilities) any other information as may be required for providing the Investment Advisory.
2.2 Based on the Investor’s responses to the Questionnaire, the Company shall conduct the basic risk profiling assessment, using the risk profiling tools licensed and available to the Company. The Investors shall abide by the independent terms and conditions applicable to the risk profiling tool, from time to time. Company’s assessments along with the Investor’s responses shall be submitted to the Investment Advisor selected by the respective Investor for providing the Investment Advisory.
2.3 The Advisor shall provide his recommendation, opinion, financial plan or any follow up queries directly to the Investor. The Investor may, at his sole discretion, agree to execute or adhere to the Investment Advisory provided by the Advisor. Any such execution shall be routed through the Company and the Investor shall not contact the Advisor for the same.
3.1 The Advisor shall create the requisite portfolio for the respective Investor based on the complete risk profile created by the Company. The Advisor shall have the right to create multiple portfolio styles based on his independent assessment of the risk profile of the respective Investor.
3.2 The Investor shall have the right to review and override the portfolio created by the Advisor. It is the sole responsibility of the Investor to communicate to the Advisor of any queries or any divergent opinion, which he may have, against the portfolio created by the Advisor. The Investor shall, at its own risk, have the right to execute or edit the portfolio in future service offerings of MMF.
3.3 Advisor covenants that the portfolios created for each Investor are in compliance with Securities and Exchange Board of India (Investment Advisors) Regulations, 2013 (“Regulations”) and shall always be updated or maintained as per the requirements of the Regulations.
4. INVESTOR COVENANTS
4.1 Investor shall provide recent, accurate and specific information as requested or required by the Advisor. Investor is obligated to submit the true risk profile, goals, financial status, assets and liabilities of the Investor, to ensure that the Advisor has a comprehensive Investor profile.
4.2 Investor acknowledges that the Advisor cannot adequately provide the Services requested by the Investor unless the Investor provides the required information completely and candidly and that the quality and value of the Advisor’s recommendations depends entirely upon the adequacy and accuracy of the information provided by the Investor.
4.3 Investor is solely responsible for the correctness of the information submitted by him.
4.4 Investor shall have the right to review financial plan under the Investment Advisory and act as per the same, however, the Investor may, at its own risk, alter the financial plans or Investment Advisory. If any of such circumstances arise then the Company/Advisor shall not be held responsible for any losses suffered by the investor.
4.5 The Investor shall maintain the control over the assets of the Investor, the Advisor or the Company shall in no event, have the right to control the assets of the Investor. The Advisor shall not be responsible for executing the financial plan for or on behalf of the Investor.
Subject to the payment schedule provided in Annexure A herein, the Investor shall make the payment for the Investment Advisory, as per the terms and conditions of the Subscription Agreement. The Investor shall not make any payments directly to the Investment Advisor, any such payments shall be null and void and the Investor shall be solely responsible for the same. It is hereby clarified that the Company shall, at all times, act as an aggregator and shall collect the advisory fee, for and on behalf of the Investment Advisor. The Company may, at its discretion, instruct Investment Advisor to directly collect the fees to be paid by the Investors
6. ADVISOR COVENANTS
6.1 Advisor shall not charge any fee to Investors nor shall deal in private outside the Website with any of the Investor of the Company.
6.2 Advisor shall not provide any scheme, discount or any information which are prohibited from being disclosed along with the Services or are prohibited under Law or are inconsistent with terms and conditions of the Agreement executed between the Company and Advisor.
6.3 Advisor shall limit his Services only to Investment Advisory. Execution of financial plan shall be the responsibility of concerned Investor. In case Investor requires any assistance for execution of the financial plan or Investment Advisory, the Advisor shall contact the Company for the same.
6.4 Advisor shall not push or recommend any specific financial product for the sake of his own direct or indirect financial benefits including but not limited to brokerage, commission or any financial benefits of such type.
6.5 Advisor shall solely be liable for any guaranteed returns promise by Advisor to the Investors, which are not agreed with the Company in advance.
7.1 Investor understands and acknowledges that any investment in securities are subject to market risks and Investment Advisor will not be in a position to provide any assurance or guarantees under the Investment Advisory provided herein. Further, any investment decision, strategy or plan does not guarantee any profits or any particular level of returns.
7.2 The Investment Advisory is based on the market experience and professional judgment of the Investment Advisor. The Investor understands and acknowledges that the financial plan suggested by the Investment Advisor as part of the Investment Advisory is subject to various factors, including but not limited to currency, economic, political, inflation and business risks.
7.3 The Investment Advisory is based on the details provided by the Investor, the Investor shall use its own judgment to execute any financial plan or to rely on the Investment Advisory. The Investment Advisory shall be treated as a benchmark for equating the past investments and the future decisions.
7.4 The Investor shall be free to discuss the Investment Advisory with its other professional advisors. The Investment Advisor is not qualified to provide any legal or accounting services and therefore the Investment Advisory does not include any legal or accounting services.
7.5 The Investor agrees and understands that Investment Advisory does not provide any guarantee of any kind, expressed or implied, regarding the risk profile, financial markets, and investment vehicles or any matter related to advice or investment management given to the Investor by the Advisor.
7.6 The Investor understands and acknowledges that the details of the Advisor listed on the Website is drawn from the information posted by the respective Advisor on his/her Linkedin profile and provided to the Company from time to time, the Company does not have any control nor the Company has modified the details of a particular Advisor. The Company shall within the reasonable time period upload any amendments or revisions made to the agreement executed between Company and the Advisor, the Investor may update himself of such modifications by visiting the Website regularly. The Company shall not be under an obligation to personally inform the Investors of such modifications.
8.1 Advisor shall treat the details of the Investor including the documents provided by the Investor as private and confidential and shall not disclose the same to any third party or entity.
8.2 In the event the Advisor is a legal entity, it shall ensure that any sharing of Investor information to its employees shall be on need to know basis. Advisor shall ensure that the employees shall adhere to the confidentiality obligation as provided in this clause.
8.3 Information furnished to the Advisor by the Investor and all information and recommendations furnished by the Advisor to the Investor, shall be confidential and shall not be disclosed to third parties except as agreed in writing or except as required by law.
The Advisor shall defend, indemnify and hold harmless the Investor from and against any and all liability, suits, claims, actions, proceedings, losses, damages, judgments and costs (each, a “claim”) including but not limited to a Claim arising out of (i) breach of representation and warranties of the Advisor; (ii) any negligent action or willful misconduct of the Advisor; (iii) violation of any Law, including the Regulation, due to the Investment Advisory provided by the Advisor; (iv) breach of third party intellectual property rights by the Investment Advisory provided by the Advisor; or (v) failure by the Advisor to comply with the confidentiality obligations provided under this Agreement.
10. LIMITATIONS OF LIABILITY
In no event, either party shall be liable for any indirect, special, incidental, consequential, punitive or exemplary damages or loss of any kind (including but not limited to loss of profit, loss of revenues) howsoever caused, in connection with this Agreement, whether arising out of contract, tort. In any case the maximum liability of the Advisor shall be limited to the aggregate amount of fees paid by the Investor for the particular financial plan.
In case of any disputes arising out of or in relation to this Agreement, the parties shall mutually appoint an arbitrator to resolve such dispute, the arbitration proceeding shall be conducted as per the Arbitration and Conciliation Act, 1996. The place of arbitration shall be Mumbai and the language shall be English. The Arbitral award shall be final and there shall not be any appeal against such award.
Any notice, communication or documents required to be given by either party to the other under the terms of the terms & conditions, may be given by personal delivery, registered post, as agreed by both parties from time to time at the Company’s registered Address or to the registered email ID of the respective Investor or at the address of the investor as recorded with the Company. Notice, communication or document shall be deemed to be effective if given by personal delivery when so delivered, or if given by post on expiration of seven days after the notice or communication or delivery, by e-mail communication only on receiving at the Company.
13. GOVERNING LAW
This Agreement shall be governed and construed in accordance with the laws of India and the parties agree to submit to the sole jurisdiction of Mumbai courts.
BY CLICKING “ACCEPT” INVESTOR (INCLUDING PERSON ACTING ON BEHALF OF INVESTOR) CONFIRMS THAT ITS COMPANY OR ANY OTHER LEGAL ENTITY AS THE CASE MAY BE, HAS NECESSARY AUTHORITY TO ACCEPT THIS AGREEMENT ON ITS BEHALF AND SHALL HAVE BINDING EFFECT. IF PERSON ACTING ON BEHALF OF INVESTOR HAS NOT PROCURED THE NECESSARY AUTHORITY TO ACCEPT THIS AGREEMENT, OR IF INVESTOR DISAGREES WITH THE TERMS OF THIS AGREEMENT, PLEASE CLICK THE “DECLINE” BUTTON.