How to become a registered Investment Adviser under SEBI

To become an Investment Adviser registered under SEBI requires the approval of the Regulatory Body. The applicant can be an individual or a corporate. Registered Investment Advisers can offer investment advice to clients for a fee. Check here if you meet the requirement to be a Registered Investment Adviser (RIA).

An investment adviser can either be an individual or a firm which is in the business of advising clients on securities, for a remuneration. Investment advisers provide advice on investment options for a range of financial instruments. Financial instruments such as bonds, exchange-traded funds, mutual funds and stocks fall under the ambit. Investment advisers may also manage portfolios of securities. Investment advisers should not be confused for financial planners.

Although financial planners can also be investment advisers, however, all investment advisers are not financial planners. Financial planners generally evaluate all aspects of their client's finances – such as savings, insurance, investments, estate planning, taxes and retirement. They assess the needs of the client and offer a well chalked out financial plan to meet the set financial goals.

Minimum qualification requirement for registration as an Investment Adviser under SEBI

The following minimum requirement for Investment Advisers is the prerequisite laid down by SEBI –

The applicant must possess a Masters degree or have a professional qualification or have a PG Diploma in accountancy, actuarial science, banking, business management, capital market, commerce, economics, finance or insurance.

Applicants can also be graduates, in any discipline, but must have a minimum of five years working experience in activities connected to financial products, such as funds, securities, assets or portfolio management.

Certification in any of the following subjects is also necessary -

  • Investment Advisory Services
  • Financial Planning
  • Asset Management
  • Portfolio Management
  • Fund Management

SEBI recognises certification from the following institutions -

Other mandatory requirements

Individual applicants must have net tangible assets totalling Rs.1,00,000 or above, and Corporates must have a net worth of Rs.25,00,000 or more.

Step-by-step guide to register as a financial adviser under SEBI

Application Form for IA under SEBI

To become an Investment Adviser (IA) under Securities and Exchange Board of India (SEBI) requires registration with the regulatory body. It is recommended that applicants study the Securities and Exchange Board of India (SEBI) Investment Adviser (IA) Regulations, 2013 for clarity and a better understanding of the eligibility criteria and the registration process. The application for the grant of registration as an IA under SEBI Regulations 2013 must be made on the prescribed form, issued by SEBI. Applicants can download Form A for Investment Adviser (IA) application and submit the completed form along with requisite supporting documents. It takes (approximately) a month for SEBI to process the application and revert to the applicant.

Registration process and fee details

It is mandatory that the application for registration is submitted through the prescribed form. All columns must be filled with appropriate details, and the form and all supporting documents should be numbered, self-attested and stamped. Copies of annexures enclosed must also be numbered and self-attested. The registration process involves a fee of Rs.5,000 for individual applicants and Rs.25,000 for corporate applicants. The money has to be paid along with the application, through a bank draft, drawn in favour of 'The Securities and Exchange Board of India', payable at Mumbai

List of enclosures with the application

Applicants must submit as annexures self-attested copies of the following documents –

  • Identity proof
  • Proof of address
  • Qualification documents
  • Certificate of experience (in case the applicant is a graduate)
  • Net worth certificate from a Chartered Accountant
  • CIBIL Score
  • 3-years IT Returns
  • Declarations as applicable

The application must be accompanied by a covering letter, mentioning the following specifics –

  • Whether the applicant had been in the business of providing investment advisory services before the 2013 Regulations came into existence
  • Details of the same are to be furnished in case the applicant had been in the business
  • Details should include the period when the applicant served as an IA, along with details of investment advice offered to clients
  • If the applicant has no prior experience in the field it should be mentioned in the letter

Issuance of the Certificate of Registration by SEBI

Once the application is received at the SEBI office, it is scrutinised for compliance, based on the current terms and conditions of the Regulations. If the application meets the set guidelines the applicant is informed about the approval of the application and is asked to pay the registration fee, to enable the issuance of the certificate of registration.

The registration fee depends on the status of the applicant –

  • Individual applicant - Rs.10,000
  • Corporate applicant – Rs.1,00,000

The fee must be paid through a bank draft, drawn in favour of 'The Securities and Exchange Board of India', payable at Mumbai. The fee is liable to change, as and when there are policy changes.

On receiving the draft SEBI issues the applicant the Certificate of Registration as an Investment Adviser. The applicant is now a registered Investment Adviser and ready to go into business.

Post-registration guidelines

Investment Advisers must comply with any changes in the rules and regulations that are introduced at a later stage. The Investment Advisers must continue to fulfil all subsequent guidelines that SEBI issues.

It is advised that the Investment Adviser checks the official website of SEBI to keep abreast with changes in policies that may be introduced. This is to avoid an inadvertent breach of rules and regulations.

Update records

The Investment Adviser must, at the earliest, update with SEBI any changes in particulars furnished at the time of making the application.

General information

  • 'The applicant' is the individual/body seeking registration as an Investment Adviser
  • Applications that are incomplete will be turned down. To ensure the application gets filed, applicants must submit complete forms, with authentic data and all columns filled in.
    Additionally, the application must be accompanied with requisite supporting documents and declarations. In case an application fails to meet these conditions it will not be filed, and the applicant will be intimated
  • Each page on all the documents submitted with the application must be numbered, self-attested and stamped
  • In case the application is forwarded through an authorised signatory a letter of authorisation signed by the Directors or Legal Partners of the Investment Adviser is mandatory

Offices of SEBI

SEBI's Head Office is located in Mumbai. Apart from it there are four Regional Branches namely –

  • Northern Regional Branch – Delhi
  • Southern Regional Branch – Chennai
  • Eastern Regional Branch – Kolkata
  • Western Regional Branch – Ahmedabad

Additionally, there are nine local branches at –

  • Hyderabad
  • Lucknow
  • Bengaluru
  • Jaipur
  • Guwahati
  • Kochi
  • Patna
  • Bhuvaneshwar
  • Indore

Applications for the grant of registration may be filed at the Head Office or at any of the regional or local branches.

Addresses of the various local and regional offices of SEBI are given on official website.

Article by Juana
Juana is a freelance writer, with years of experience, creating content for varied online portals. She holds a degree in English Literature and has worked as a teacher and as a soft skill trainer. An avid reader, she writes on a variety of topics ranging from health, travel, education and personality development.

Follow Juana or read 552 articles authored by Juana

Related Articles

How to prevent acne scars?

This article explains various measures which keep acne under control. This decreases inflammation and consequently chances of formation of acne scars too decreases. Actions like not picking at skin, proper hydration, using sunscreen lotions, proper skin care regime etc prevent formation of acne scars.

Have you made a Systematic Investment Plan?

SIP - Systematic Investment Plan, is one of the best ways to invest in Mutual funds and at the same time hedge the risk of market to a marginal extent. This article explains how Mutual funds and SIP works and how SIP hedges the risk of a volatile market.

What are the benefits of sectoral mutual funds?

What is a sectoral mutual funds? How to get in to that and what are the benefits of sectoral mutual funds? Benefits and risk involved in sectoral mutual funds? What strategy should you follow before investing in sectoral mutual funds to face less diversified and less volatility

How To Control Anger?

Have you ever been angry and later on felt sad for being angry on some one or something? Do you want to control your anger ? Is anger good or not ? The following article will discuss about anger and measures through which we can control our anger.

Why PPF should always be a part of your investment portfolio

In this article, I will explain the nitty gritty of PPF which may be quite handy for those who wants to enjoy safety, profitability and tax saving elements in their investments. PPF (Public Provident Fund ) works wonder when used as an investment tool for a longer maturity period, especially as a part of retirement planning. The account is packed with number of features like income tax rebate and exemption, loan and withdrawal facility and convenient operating of account.

More articles: Investment How to


  • Do not include your name, "with regards" etc in the comment. Write detailed comment, relevant to the topic.
  • No HTML formatting and links to other web sites are allowed.
  • This is a strictly moderated site. Absolutely no spam allowed.
  • Name: