 "sebi")
The Securities and Exchange Board of India’s (Sebi’s) proposal for financial planners or registered investment advisors (RIAs) to show Rs 5 million in net worth has led to fear among flat fee-charging advisors, who are re-assessing viability of running their businesses.
This follows the requirement of a minimum of 150 clients, or Rs 400 million in assets managed. In its consultation paper on January 15, the regulator said any individual investment advisor, whose number of clients exceed 150 or assets under advice stand at over Rs 400 million, would need to re-register themselves as a non-individual advisor within six months of
