This Investment Advisory and Financial Planning Service Agreement is entered by and between DYOTA SOLUTIONS PRIVATE LIMITED, a company duly incorporated under the Companies Act, 1956 / 2013 and having its registered office at C-56, Sunder CHS, Sion, Trombay Road, Chembur, Mumbai 400071 and DYOTA INVESTMENT ADVISERS DEPARTMENT exclusively set up and functioning at 408, 3rd Main HMT Layout, Anand Nagar, Bangalore 560024 (hereinafter referred to as “Dyota” and includes it associates, affiliates and subsidiaries) on the FIRST PART,
User of this application (hereinafter referred to as "the Client ", which expression shall, unless repugnant to the meaning or context thereof, be deemed to mean and include its legal heirs, successors and permitted assigns) of the SECOND Part
Dyota is a registered Investment Advisor (“RIA”) with the SEBI having Registration No. INA000007216.
Dyota has set up a separate department / division to offer and provide investment advisory and financial planning services in accordance with the provisions of the SEBI (Investment Advisors), Regulations, 2013
The Client is desirous of availing investment advisory and financial planning services from Dyota.
NOW THEREFORE in mutual consideration thereof, Dyota and the Client hereby agree to the terms and conditions as stated below.
SCOPE OF SERVICES
Being a Registered Investment Advisor (“RIA”), Dyota shall provide services / activities permitted under SEBI (Investment Advisers) Regulations, 2013. They would include Investment Management, advisory services, and related services / activities.
Dyota shall follow the following process to provide advisory services:
Evaluation of Present Level of Financial Wellness: Dyota shall evaluate the Financial Wellness Level based on financial and other information provided by the Client. Dyota shall evaluate Client’s ability to meet his/her objectives, make observations, identify problems and develop recommendation strategies/alternatives for Client’s consideration
Dyota's proprietary algorithm: Dyota shall provide recommendations based on its unique proprietary algorithm whose goal is to increase the Networth and is achieved by implementing action items one at a time, based on the priority assigned by Dyota’s algorithm
Alternatives & Recommendations: On the basis of the data provided and stated objectives of the Client , Dyota will provide regular action items after reviewing and analyzing the same.
On receipt of interest from the Client, Dyota shall first create an account on the Mutual Fund Utility (MFU) platform. MFU platform is a shared services initiative by the AMFI. It is a transaction aggregation portal, which enables MF consumers to transact in multiple schemes across fund houses. it is a browser-based application that connects Client’s to registrars and transfer agent (RTAs), Registered Investment Advisors (RIA), Bank, Fund houses, payment gateway and know your customer, or KYC registration agencies (KRA).
On creation of the Client account on the MFU platform and subsequent to the completion of Know your customer “KYC” verification, Dyota shall provide advisory and financial planning services on the basis of the information, financial wellness and other information provided by the Client.
Dyota acknowledges that the Client may at his discretion take the advice provided by Dyota or not.
In the event of the Client not exercising the option of taking up the advice provided by Dyota, or in the event of Client taking up the advice and choosing to execute the transactions by himself / themselves without the assistance of Dyota, then, such transactions between Dyota and the Client shall conclude after advice is provided by Dyota. Fees / charges shall be paid by the Client to Dyota as contained in Clause II of this agreement.
In the event of the Client using the services of Dyota to further execute the transactions on the MFU platform, then Dyota shall, using its “Advisor” credentials on the MFU platform trigger the investment transaction, subject to Client confirmation of the same.
FEES & Charges
The Client shall pay the following as fee / charges in consideration for the services rendered / provided by Dyota as per the Fee Plan selected: The above fees & charges shall exclude Goods & Service Tax (“GST”) and any other applicable taxes that shall from time to time be in force. In addition to the Fees stated hereinabove, the Client shall pay to Dyota, such transaction fee and/or other fee that may be incurred in the course of executing the transaction on behalf of the Client. The above fee, charges and expenses shall be directly debited to the Client’s Account as and when the same becomes due for payments.
FUNCTIONS, OBLIGATIONS, DUTIES AND RESPONSIBILITIES
Dyota shall provide advisory and or financial planning services in accordance with the SEBI (Investment Advisers Regulations) 2013 as amended from time to time (hereinafter referred to as the Regulations).
Dyota shall provide such advice and or financial planning services through telephone and or e-mail and or documentation and through its Robo Advisory Application – its proprietary algorithm.
Where the service involves the giving of any advice or the provision of any information, Dyota shall endeavor to ensure that such advice or information is accurate. Dyota shall not be liable for any costs, claims, liabilities, expenses or losses which the Client may suffer as a result of relying on any such advice or information.
Dyota, shall, on the basis of the information / analysis provided by the proprietary algorithm execute the investment on behalf of the Client. Such investment on behalf of the Client is absolute and final and cannot be called in question or be open to review at any time during the currency of the agreement or any time thereafter except on the ground of malafide, fraud, conflict of interest or gross negligence.
Dyota shall not be responsible for any loss or damage arising from any cause beyond its control including, without limitation, acts or failure to act by any third party, strikes, civil commotion, acts of God, floods, riots or war.
The Client hereby authorizes Dyota to do all such acts or things on behalf of the Client as may be incidental or consequential to the discharge of its responsibilities under this Agreement.
The Client understands that for any financial advice accuracy of information is the most important aspect. Hence Client shall provide update information to Dyota at all times. The Client will provide Dyota any additional financial and personal data necessary to prepare his/her plan for reaching the desired level. The Client shall promptly provide to Dyota all information and assistance as may be reasonably require in order to enable Dyota provide advisory and or financial planning services.
Client shall make and shall be solely responsible for any and all decisions as to whether to follow or disregard, wholly or partially, any information, recommendation, and/or advice provided by Dyota.
The Client is free to select any broker/dealer, investment advisory firm or insurance agency for implementation of the advice and recommendations provided by Dyota.
The Client shall provide the Personal and Financial data to Dyota on the basis of which an account shall be opened by Dyota on the MFU platform:
1. All investments made by Dyota on behalf of the Client shall be subject to risk which cannot be accurately predetermined. Dyota shall give no warranty as to performance or profitability of the Client investments or any part thereof.
Dyota shall not be responsible to the Client for any claim, loss or damage on account investments, disinvestments made by the Client on the basis of advisor in different securities for different Client s in the same scheme. The Client shall indemnify Dyota and keep it indemnified from and against any damage, losses, cost, outgoing or expense arising out of or relating to the investments made by Dyota on behalf of the Client , including any charges, costs, expenses, outgoing or outflows arising out of payments of stamp duty, transfer charges, legal expenses, and any taxes including income tax and other direct taxes or duties incurred by and/or levied on Dyota as a result of its acting on behalf of the Client or which are levied on the Client but are recoverable or are recovered by Dyota.
DISCLAIMER & LIABILITY LIMITATIONS
Dyota’s Education department has associations with companies which offer financial products and/or services similar to those recommended, Dyota does not receive any commissions for Financial Product bought by Client. Client understands that Dyota performs, among other things, investment advisory services for other clients. Client recognizes that Dyota may give advice and take action in the performance of its duties for such other clients which may differ from advice given, or in the timing and nature of action taken, with respect to Client. Client also recognizes that DYOTA or his representatives may take action for their own accounts that differ from the advice given to or action taken for Client. Nothing in this Agreement shall be deemed to impose on Dyota any obligation to advise Client or take action in the same manner as Dyota or its representatives may take in their own accounts or may advise other clients. Further, if Client is availing implementation services of DYOTA, Client is informed that all Mutual Fund Transactions will be executed through third party system from www.mfuindia.com. It is expected that clients have read and understood terms and conditions of services offered by MF Utilities India Pvt Ltd. DYOTA will not be responsible for any malfunctioning of MF Utilities system. DYOTA is not responsible for the losses (temporary or otherwise) arising from the investments made by the client on the basis of DYOTA recommendations or by his own choice. In whatever situation client agrees that Dyota’s liability is limited to the fees paid by client within the last 12 months.
ARBITRATION & JURISDICTION
If any dispute/difference arises between the Parties hereto during the subsistence of this Agreement or thereafter, in connection with the validity, interpretation, implementation or alleged breach of any provision of this Agreement or regarding questions, including the question as to whether the termination of this Agreement by one Party hereto has been legitimate, such dispute shall be referred to Arbitration. The place of arbitration shall be Bangalore. The Arbitration proceeding shall be governed by the Indian Arbitration & Conciliation Act, 1996. The arbitration proceedings shall be in the English language. The arbitrator’s award shall be substantiated in writing. The court of arbitration shall also decide on the costs of the arbitration procedure. The Parties hereto shall submit to the arbitrator’s award and the latter shall be enforceable in any competent court of law. The laws of India shall govern this Agreement. All legal actions and proceedings if any relating hereto shall be subject to the exclusive jurisdiction of the courts in Bangalore.
The Parties to the Agreement will at all times keep confidential any information of a confidential nature acquired in connection with this Agreement or the Services, except for information which they are bound to disclose under compulsion of law or by request of regulatory agencies or to their professional advisers in the proper performance of the Services.
Dyota values the trust Client has placed on them, and is committed to the responsible management, use, and protection of Client’s personal information or Client data collected during the plan finalization process. It is agreed and understood between the parties that all information provided by Client and all recommendations and/or advice provided by Dyota shall be confidential, with disclosure only upon such terms and to such parties as designated by the parties, or required for making recommendation or enabling the transaction or as required by law. Dyota agrees that it will not release any personal, business or other information provided by Client to any person, firm, corporation or other entity other than authorized employees and representatives of Dyota and its affiliates, except upon written authority from Client or upon direction of a court of law or other government authority. Dyota will make all efforts to store information in such a way as to preclude access by unauthorized persons.
ENFORCEABILITY OF WHOLE OR PART OF THE AGREEMENT
If any provision of this Agreement, or the application thereof to any person or circumstance, is or is held to be invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby, and each provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. Any invalid or unenforceable provision of this Agreement shall be replaced with a provision, which is valid and enforceable and most nearly reflecting the original intent of the unenforceable provision.
Any, notice, communication or documents to be given to the other party may be given by personal delivery or courier or registered post or fax at the address hereinafter mentioned. The notice shall be deemed to have been served upon the party to whom it is given, if given by personal delivery, when so delivered and acknowledgment received, if given by post on expiration of 3 days after the notice etc. shall have been delivered to the post office and if given by fax upon acknowledged transmission thereof:
Notice to Dyota: Address: 408, 3rd Main HMT Layout, Anand Nagar, Bangalore 560024 Designated Person: P Mani (Compliance Officer)
VALIDITY OF AGREEMENT
This Agreement is valid for till either party terminates by giving email communication to other.