I have invested some amount in mutual funds with the help of a Securities and Exchange Board of India (Sebi)-registered investment adviser (RIA). I have also invested in other mutual funds schemes of my choice, as direct investments. However, the adviser is asking me to share the eCAS statement and says that whatever investments I have done on my own, I am required to pay a consultancy fee for that amount too. He adds that I am allowed to invest through any broker or directly without a broker but I must pay him a fee.
—Name withheld on request
