'College students selling mutual funds': Startup founder calls it a colossal waste of time

Akshat Shrivastava, founder of Wisdom Hatch, on Saturday called the policy move allowing college students to distribute mutual funds in India a “colossal waste of time,” arguing that the country should instead focus on building a skilled trades workforce.

“College students will now distribute Mutual Funds in India,” Shrivastava wrote on X. “This is a colossal waste of time. We should rather have trait schools. India needs better electricians, plumbers, carpenters etc. As we up-skill more traits can be added, like: mobile repair, low-end manufacturing etc.”

Shrivastava argued that such policies are misguided. “Moving money from point A to point B adds 0 skills to a college student. Brainless policies eventually hurt our economy,” he said.

The post triggered sharp responses and a wider debate on the value of vocational training versus financial services exposure. A social media user countered, “Absolutely, trades like electricians & plumbers are vital. But teaching students how money works isn’t useless either, we need both skill & financial know-how.”

To this, Shrivastava responded saying, “They are distributing funds; not learning any finance.” 

Pranay Madan, a consultant, expanded the criticism to the societal obsession with job status. “The biggest problem is that society here attaches too much ‘status’ to the kind of job one does,” he said. “MFD and MF have literally become the beauty contest of men where in every random person is doing this and enjoying the commissions while retail investor seldom makes a handsome amount from equities.”

He also criticised the financial dreams being sold to youth: “Instead he is being made to dream about wealth after 50 years wherein life itself is changing every 6 months. In the end, he murders all his dreams and life itself just to see a dream financial figure after he has aged.”

Offering a different view, Harsh Kumar, Founding Partner at Kaizen Law, defended the initiative. “Selling MFs isn’t just moving money. It also helps build real world skills of sales, marketing & persuasion. Not a waste,” he said. However, he also emphasised India’s need to invest in science and innovation. 
“True prosperity comes from innovation. And let’s be honest, glorifying carpentry/electrician work won’t make us a global power either. Skills matter, but without tech leadership, we stay stuck in low value work.”