There are more than 4 crore unique mutual fund investors in India, but only 1,000 SEBI Registered Investment Advisers (RIAs). Shockingly, the number of SEBI RIAs has decreased over the last few years despite the regulations introduced in 2013, and in this write-up, I want to discuss why. First, a quick background: SEBI introduced RIA regulations in 2013 to address the challenges investors face from conflicting advice – agents want to maximise commissions, while investors…
