@suru27 A dilemma for these cos. With new ones like zerodha and navi to exclusively focus on passive products. It becomes hard to disrupt yourself, eg:- what happened to MOFSL with the likes of Zerodha launching 0 brokerage services. Distribution is no longer a moat here

@suru27 Ads and seamless online paper processing makes it easier. Just in my view is a 10-12% growing sector which will make absurd money when bought in a bear market crash and sold in when things are ripe..

@suru27 CAMS might be a better proxy even in that scenario..
Disc: just my views, can be 100% wrong. Short term pops can happen

@suru27 On a lighter note, wealth managers can be better. They can sell esoteric products and still make fee income count along with exclusive advice, well tailored only for UHNI's 🤣