Investment Advisor Registration Process

Three-step pathway to become a SEBI registered Investment Advisor

1

Application Submission

Submit Form A to SEBI with organizational details, financial information, qualifications of principal officer, investment advisory policy, and requisite fee

2

SEBI Verification

SEBI reviews eligibility criteria, fiduciary framework, client protection mechanisms, qualifications, and compliance systems before granting approval

3

Registration Certificate

Obtain SEBI IA registration certificate. Begin advisory operations and maintain mandatory ongoing compliance and reporting obligations

Compliance Framework for Investment Advisors

Essential compliance areas for SEBI registered Investment Advisors

Fiduciary Duty

Act in client best interests at all times, avoid conflicts of interest, provide unbiased and suitable advice, maintain strict confidentiality of all client information and portfolios

Client Agreements

Execute signed investment advisory agreements with clear terms, fee disclosures, advisory scope, risk profiling, suitability assessment, and conflict management procedures

Record Keeping

Maintain all advisory records for 5 years including client risk profiles, investment recommendations, rationale for advice, fee receipts, and client communications

Qualification Requirements

Principal officer must hold post-graduate qualification in finance/related field and NISM Series-XA & XB certifications. Staff providing advisory must also meet SEBI's qualification norms

Investment Advisor Requirements

Key financial and operational requirements for IA registration with SEBI

Financial Requirements

₹50 Lakhs net worth for body corporate / LLP
₹5 Lakhs net worth for individuals / partnership firms
Minimum net worth maintained at all times
Annual net worth certificate from statutory auditor
Regular financial reporting to SEBI as prescribed

Operational Requirements

Comprehensive investment advisory policy documented
Risk profiling and suitability assessment framework
Conflict of interest identification and management policy
Grievance redressal mechanism for clients
Business continuity and succession plan

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