We are Fiduciaries.
Brokerages & Commissions have biased the advisory. But RIA does not get remuneration from the manufacturing company (Mutual Funds or Insurance).
Hence NO CONFLICT OF INTEREST.
Securities & Exchange Board of India, SEBI has put details about RIAs in the Gazette of India Dated 21 Jan 2013 called as SEBI (Investment Advisers) Regulations 2013. The link to this regulation is as follows:
This standard requires RIAs to act and serve a client’s best interests with the intent to eliminate, or at least to expose, all potential conflicts of interest which might incline an investment adviser—consciously or unconsciously—to render advice which was not in the best interest of the IA’s clients.
Capital Adequacy Require as per SEBI Guideline