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SEBI Whole Time Member (WTM) Ananth Narayan Gopalakrishnan has urged investors not to deal with online financial influencers commonly known as finfluencers. He was speaking at the Outlook Money Event held today in Mumbai.
Ananth said that the market regulator has found many instances of egregious mis-selling by finfluencers. He urged investors to deal with experts like mutual fund distributors and registered investment advisers to invest their money.
Further, the WTM said that investors should understand that there is no free lunch. In fact, investors have every right to ask their mutual fund distributors that how much commission they earn from the recommended schemes. it is important to evaluate if the distributors are selling you the right product, he added.
Ananth said that he personally prefers investing through registered investment advisers.
