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Fintech advisory firms in a bind over Sebi norms on physical agreement

Economic Times Print Edition  

With markets regulator Sebi insisting on a physical agreement between financial advisors and investors, a move that will increase the costs of acquiring clients, new age firms - called ‘robo advisors' - are in a bind. These firms provide algorithm-driven investment advice known as robo advisory. These fintech firms typically cater to investors who can afford to invest only as low as INR 500 a month in mutual funds. The mandate on physical contracts will involve more hiring and greater costs, it is feared.

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