Professional Documents
Culture Documents
SEBI Registered Investment Adviser Application Process
SEBI Registered Investment Adviser Application Process
Introduction
SEBI came up with Investment Advisers Regulation in 2013 that segregated commission
selling from investment advice. As per this regulation, no person can work as an
investment adviser unless he is registered as an investment adviser with SEBI; and a
registered adviser cannot receive remuneration or compensation in any form from any
person other than the client being advised. This essentially means that an investment
adviser must work on a fee-only model of advisory in India.
This regulation was heavily criticized by the adviser community which was mostly
working on commission based advisory model till then. Many people thought that fee-
only advisory cannot work in India because investors won’t pay for advice upfront to the
adviser. But slowly this model began getting talked about over social media and
elsewhere and many investors started seeking advice from fee-only advisers. It turned
out that investors are willing to pay a fee for an unbiased advice even in India. Some of
the early entrants into this model became successful and that started attracting more
and more people to it. Today not only advisers but many DIY investors are thinking of
leaving their jobs to become SEBI RIA.
After payment is made, you will receive following mail from SEBI
Step 3: Acknowledgement email
This opens Investment Adviser registration form A. There are 7 sections in the
application form as mentioned below.
You can upload scanned copies of self-signed declaration if you do not have digital
signature. Up to 2mb file can be uploaded.
You then have to tick following declaration statements and submit the application.
1. I/We hereby agree and declare that the information supplied in the application,
including the attachment sheets, is complete and true.
AND I/ we further agree that, I/we shall notify the Securities and Exchange Board of
India immediately any change in the information provided in the application.
2. I/ We further agree that I/ we shall comply with, and be bound by the Securities and
Exchange Board of India Act, 1992, and the Securities and Exchange Board of India
(Investment Advisers) Regulations, 2013, guidelines/instructions as may be issued by
the Securities and Exchange Board of India from time to time.
3. I/ We further agree that as a condition of registration, I/ we shall abide by such
operational instructions/directives as may be issued by the Securities and Exchange
Board of India from time to time.
Step 6: Registration Acknowledgement & Submission to SEBI Office
After submitting the application form on SEBI portal, you will receive following mail with a
pdf copy of the application form you submitted on the portal.
You have to take a print of the application form attached in the mail, sign it and submit or
courier it to SEBI office along with self-attested documents and declarations you
uploaded on SEBI portal.
Scanned copy of RIA certificate is mailed to you and a hard copy is couriered to your
address immediately after RIA certificate is issued.
Please join me in thanking Swapnil Kendhe for this exhaustive guide detailing the SEBI
Registered Investment Adviser Application Process. Here is more information about
Swapnil