How to Become a Registered Investment Advisor

 

How to Become a Registered Investment Advisor

In India, if you are providing investment advisory services you must be registered as an Investment Advisor with SEBI (Securities and Exchange Board of India) as per SEBI regulation, 2013.

Registered Investment Advisor (RIA) is a person or an organization who gives investment advice and assistance in areas related to financial markets to investors. RIAs have a fiduciary duty towards their clients to give best financial advice according to the interest of the clients. RIAs provide advice on all mandatory topics, such as insurance plans or investment strategies and portfolio management services.

Who can apply for “SEBI Registered Investment Advisor”?

1. Individual
2. Partnership Firm
3. Company
4. LLP (Limited liability partnership)

Here we have mentioned some of the important documents that required to obtain a certificate from SEBI to pursue a career as an investment advisor.
• Address proof
• Identity proof
• Qualification proof (degree certificates, NISM exam certificates)
• Net worth certificate provided by CA
• CIBIL Score
• Past three years income tax returns certificate
• Application fee
• Experience Certificate
• Any other declaration as per requirements

Net worth Requirements to register as Investment Advisor

Category

Net worth

Individual

5 Lakh

Non-Individual

50 Lakh

 

Application Fee


The application fee for individuals and firms is Rs.2,000 for an investment advisor certificate. They had to spend up a higher amount of Rs.5,000. As application fee, according to a SEBI regulation.

The application fee for corporates including Limited Liability Partnership has been brough down to Rs.10,000 from Rs.25,000.

At certificate granting, individuals and firms will have to shell out a fee of Rs.3,000 and Rs.15,000 by both bodies’ corporate.
Previously, registration fee was Rs.10,000 and Rs.5 Lakh for individuals as well as firms and corporates.

Process to register as an Investment Advisor?

Here is the step-by-step process for online registration of investment advisor on SEBI.
1. Visit the SEBI Intermediary Portal- Visit to the website online and click on the self-Registration button.

2. Fill the required information- Fill the application form with complete details and then proceed, which will redirect you to another payment tab. On SEBI’s portal, login your credentials will be generated.

3. Make the payment- Next step is to pay the required amount through internet banking and debit card. Click on the Online payment mode, and then click on the ‘Proceed to pay’ button which will redirect you to the payment gateway.

4. Confirmation E-mail from Sebi- Within 7-10 working days, the applicant will receive confirmation email from SEBI for the fees along with login credentials receipt.

5. Login and fill in the Application- Login account through credentials and complete the details of the application. In addition, ensure that the application is submitted within 14 days of login credentials issued.

6. Fill out form A- Login to the SEBI portal with credentials and click on the Investment Advisor option. In the drop-down menu, select the Navigate to registration button. This opens the registration Form-A, which has different parts for applicants need to fill and complete.

7. Sebi’s Response- If there is any SEBI question, the answer must be made within the allotted time.

8. Grant of a Registration certificate- An E-mail receipt form SEBI for the grant of a registration number by post and a registration certificate is received by post at the registered address mentioned in the application.

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Also Read: What Documents required for Minor Demat Account


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