India In India, financial consultancy has been a preserve of licensed financial
advisors, wealth managers and institutional brokerage firms, services that are
mostly available only to the urban elite, the educated and the wealthy in society. The
lack of access to professional advice combined with the financial literacy which is
low (the National Centre of Financial Education 2019 survey estimates it to be only
27 percent) put the overwhelming majority of the Indian population in the situation
in which they were not given anything meaningful advice about personal finance.
Finfluencers have already entered this vacuum and provided millions of investors
who are investing first-time (majorly of emerging cities) with free, accessible
financial education.