Where are India’s missing investment advisers?
SummaryMany RIAs have called it quits as they find it difficult to comply with new Sebi regulations
Registered Investment Advisers (RIAs) are an endangered tribe. And, it is mainly because of the exhaustive regulations finalized by Sebi in 2020. Many of them—both individual and corporate Sebi-registered advisers—are giving up their license to practice. This is happening at a time when many finfluencers—the self-appointed oracle for financial advice on social media platforms— are misleading gullible investors.