Five questions to ask before hiring an adviser

In a recent adjudication order against Indore-based Star India Market Research, an investment adviser registered with the Securities and Exchange Board of India (Sebi), the capital markets regulator highlighted a series of malpractices that violated the Investment Advisor Regulations of 2013. The firm in question not only recommended high-risk products to individuals who were too old or too inexperienced to be buying them but also pushed products designed for high net-worth individuals (HNIs) to people with incomes of ₹1-5 lakh. Also, it charged customers twice or more for the services rendered.

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