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The Securities and Exchange Board of India’s (Sebi’s) move to cap fees for advisory services could force players to move out of the advisory business and switch to commission-linked services, with advisors seeing the move as detrimental to business viability.
In its board meeting on Monday, the markets regulator laid down norms for advisors. It barred them from offering distribution services and stated there will be an upper limit on the fee advisors can charge from their clients.
Industry participants say this could make life difficult for advisors offering services to high net-worth investors, where operating costs are on the
