|Compliance Audit Status
|Remarks, if any
|Inadvertent delay of <1 month in renewal of NISM X-A & X-B Certification
Disclosure w.r.t. business activity
Advent provides financial planning, wealth management and investment advisory services on a "fee only" basis using direct/ non commission investment products, wherever available. In cases where no direct/ non commission option is available for an investment product advised to the client and the client would like Advent to assist with such transaction for their own convenience, the earnings, if any on such transactions will be disclosed to the client prior to carrying out the transaction.
Further, considering the extensive nature of personal finance and to provide clients with a comprehensive solution, Advent may provide related products and services by utilising the services of professionals/ intermediaries such as CAs, Lawyers, Insurance Agents, etc. Professional fees for such specialised services, may be subsumed within the advisory fees provided that the service is included in the scope of engagement. It is worth mentioning that this is for the sole benefit and convenience of the client. Clients are free, either to work with their own CAs, Lawyer or opt to pay the fees directly to the professionals engaged by Advent.
Advent also provides a model portfolio service comprising of listed units of real estate & infrastructure investment trusts and exchange traded funds on smallcase.com
Rahul Agarwal, Proprietor of Advent Financial is also a licensed composite insurance agent and provides insurance services on a standalone basis.
Disclosure w.r.t. disciplinary history
There are no outstanding litigations and no material action has been taken against Advent Financial, the proprietorship firm or its proprietor, Mr. Rahul Agarwal by any regulator.
Disclosure w.r.t. association with execution platforms and other intermediaries
Advent is associated with execution platforms such as NSE NMF, BSE StarMF, MF Utilities for online execution of transactions in direct plans of mutual funds.
Advent has a business partnership agreement with Smallcase Technologies Pvt Ltd. for providing model portfolios on their investment platform.
Advent has an agreement with Unifi Capital for offering their Portfolio Management Services under the Direct/ Non Commission option.
Disclosure w.r.t. affiliate ownerships and potential conflicts of interest
Rahul Agarwal, Proprietor of Advent Financial is the founding director of Provase Financial Services, a private limited company incorporated in 2002 and engaged in the business of distribution of mutual funds and other investment products. The day to day business activities and administrative matters of the company are handled by designated staff.
On an ongoing basis, Advent will disclose all conflicts of interests as and when they arise.
Disclosure w.r.t. own investment holdings
Advent is not engaged in active trading but may have holdings or positions in the name of Rahul Agarwal, Proprietor in the investment products and/ or securities which may be the subject matter of advice depending on his specific requirements and he may invest in various asset classes and/or investment products. This would be based on investment objectives which could be based on, amongst other items liquidity management, asset allocation, time horizon, and risk-return objectives.
Neither Advent nor Rahul Agarwal, Proprietor shall not enter into transactions in their own account which is contrary to its advice given to clients for a period of fifteen days from the date of such advice. However, if during the period of such fifteen days, if Advent is of the opinion that the situation has changed, then it may enter into such a transaction in its own accounts after giving such revised assessment to the client at least 24 hours in advance of entering into such transaction.
Disclosure w.r.t. confidentiality of client information
Advent shall maintain complete confidentiality of the data, information and documents provided to it by the client. The same shall not be disclosed in any form, whether in whole or in part under any circumstances without first obtaining a prior consent from the client except where such disclosure is required to be made in compliance with any applicable law or a regulatory directive.
Note Please note that the advisory services provided by Advent are "non-binding" in nature and clients are free to make their own investment decisions. Further, there is no obligation upon clients to compulsorily use any of the execution/ implementation services provided by Advent or its associated professionals and intermediaries. Clients are completely free to avail such services from any other service provider of their choice.