According to media reports, a survey by the Chartered Financial Analyst (CFA) Institute showed that Independent Financial Advisors (IFAs) are the most trusted source of information for retail investors. A total of 3,127 retail investors and 829 institutional investors worldwide, including 100 retail investors and 84 institutional investors from India participated in the survey. Out of the seven sources of information for retail investors, 65% of the participants considered their personal financial advisor as the most trusted source, followed by friends and family (10%), online research (8%), academic experts and books (4%) and investment newsletters (4%). The survey result can be attributed to accessibility and transparency in advisory practices.