Sebi weighs allowing mutual fund distributors to become investment advisers

Kartik Sankaran, an MFD with platform Happyness Factory, which manages assets worth more than ₹7,000 crore, said, “If an individual MFD has to gain an RIA licence to give a comprehensive financial plan, it would only increase their costs and compliance. Small MFDs would now need to have a compliance officer, additional documents and record-keeping, which will only add costs.”