There are a couple of pitfalls in the current scheme of things
Early last year, market regulator Securities and Exchange Board of India (Sebi) introduced the Investment Advisers Regulations, 2013. The main objective of this regulation was to differentiate between investment advisers (IA), whose remuneration would be the advisory fee that they collect from their clients, and the other set of wealth managers or distributors, whose remuneration comes solely from the manufacturers of the products that they recommend to their clients. While the regulations are well intended, they impose tremendous practical challenges for Sebi-registered IAs.
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