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FundRover

Regulatory Transparency

What MFDs Can & Cannot Do

Official AMFI and SEBI guidelines defining the exact operational boundaries of a Mutual Fund Distributor (MFD), the exact role under which FundRover and Namit Thakkar operate.

Download MFD Do's and Don'ts (PDF)

Permitted Activities (CAN)

Authorized under AMFI Code of Conduct

  • Curated Scheme RecommendationsRecommend curated lists of mutual fund schemes based strictly on your verified risk profile (incidental advice).
  • Transaction Execution & Lifecycle CareExecute mutual fund purchases, redemptions, switches, and assist with after-sales support (KYC, nomination, bank updates).
  • Periodic Portfolio ReviewsReview portfolio asset allocations periodically and suggest rebalancing aligned with your life goals.
  • Compliance & Risk RecordsMaintain formal risk profiling and compliance documentation for all investor interactions.
  • Factsheet & Performance ReportsShare objective fund performance reports sourced directly from official AMC factsheets and authorized data vendors.

Prohibited Activities (CANNOT)

Strictly disallowed by SEBI / AMFI regulations

  • No Holistic Financial Planning as a Registered ServiceHolistic financial planning as a paid or independent advisory service is strictly reserved for SEBI-Registered Investment Advisers (RIAs).
  • No Misleading Advisory TitlesDistributors cannot use titles such as "Financial Planner", "Financial Advisor", "Independent Financial Adviser", or "Wealth Adviser" in communications.
  • No Rebates, Gifts or Upfront IncentivesStrictly prohibited from passing back commissions, offering fee rebates, gift vouchers, or upfront monetary inducements.
  • No Blanket Social Media Stock/Scheme TipsNo scheme forecasting, market timing calls, or personalized recommendations broadcasted on social media to unprofiled audiences.
  • No Upfront Commission CollectionOnly ongoing trail commissions paid directly by Asset Management Companies (AMCs) out of scheme expense ratios are permitted.

A note on credentials

Namit also holds the CFP® certification and the QPFP® designation from Network FP (see the NetworkFP page). These reflect personal financial-education standards and a voluntary code of ethics. They do not change the SEBI-regulated MFD role described above. Every recommendation made through FundRover remains incidental to mutual fund distribution. About Namit.