We are again talking about financial advisors—RIAs and RAs—the folks who help us decide where to put our money. In our last episode, we spoke about the RIA landscape in India and how the latest SEBI consultation paper affects that. But the changes proposed in the paper don’t just talk about RIAs, but also about Research Analysts. To understand what’s going on and how SEBI's new rules impact this space, Mayank Bansal from Windmill Capital, who’s closely involved with the RA Association.

Here’s what we’re covering:

1. The evolution of the RA landscape in India in the last decade.

2. The hurdles they face under the current rules.

3. What SEBI's new proposals could mean for fees, KYC, and how they can operate.

Tune in as we break down into what these changes mean.

A lot has been happening in the markets. Some stocks are soaring, others are struggling, and many of us are wondering what's really going on behind the scenes.

Are we missing something important?

That's why today we're diving into the early trends and signs in our markets and economy. We'll be looking at everything from why some stocks are outperforming others, to how India's economic story is unfolding.

To help us make sense of all this, we have a special guest with us — Sahil Kapoor, Head of Products and Market Strategist at DSP Mutual Fund. With 17 years in finance, Sahil's the perfect guide to help us navigate these complex waters.

We'll be exploring key insights from DSP Netra's September report, covering:

1. The current market stability

2. Performance of mid and small cap stocks

3. The return of quality stocks

4. And broader economic trends affecting our markets

You can also watch this episode on YouTube: https://youtu.be/y1abYGeuvv0

If you’ve ever looked for financial advice—whether it’s figuring out where to invest your hard-earned money or planning for your future—you know how tricky it can be to find someone you can really trust.

It’s been over a decade since SEBI rolled out regulations for RIAs to ensure that investors get unbiased advice. But here’s the thing: there are just about 900 RIAs in India. Of this, most RIAs are stock tipsters, and if you just count the number of RIAs who do holistic financial advisory, maybe there are a couple of hundred, that's it. For context, we have 10 crore unique investors.

So, why is that number so low? What’s stopping more people from becoming RIAs? How will the proposed changes by SEBI affect the advisory ecosystem?

To make sense of all this, we spoke to Vivek Rege, a board member of the Association of Registered Investment Advisors (ARIA), who himself is an advisor with decades of experience in financial advisory. Vivek was also a part of the 14-member working group responsible for SEBI’s new consultation paper, which aims to ease the requirements for becoming an RIA.

In this conversation, Vivek shares his insights on:

1. The challenges faced by RIAs under the current regulatory regime

2. The evolution of RIA regulations over the past decade

3. The key highlights of the new SEBI consultation paper

4. The ongoing debate between RIAs and distributors, and the impact of “incidental advice”

5. The future of financial advisory in India and what more needs to be done to promote the profession

In the next episode, we will deep dive into the topic of Research Analysts (RAs).

You can also watch this video on YouTube: https://youtu.be/U337OtChBXo