How-to RIA investment adviser

How to become a SEBI Registered Investment Adviser (RIA) for MF

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SEBI RIA is the fee-only advisory pathway. Cannot earn commission; clients pay direct fees. Higher compliance burden than ARN but offers fiduciary integrity.

Conflict-of-interest disclosure. This guide is published by WebNotes Editorial Team for informational purposes. WebNotes has no commercial relationship with SEBI, NISM, or any platform. No affiliate commission is earned.

Step-by-step procedure

See the procedure infobox above for the seven steps.

RIA vs ARN comparison

AspectRIAARN
RegulatorSEBIAMFI
RevenueFee-onlyTrail commission
FiduciaryYesNo (suitability only)
Net worthRs 5 lakhNone
Registration costRs 15,000+Rs 3,000
Ongoing auditSEBI auditAMFI CPE

Fiduciary obligations

  • Risk profiling before any advice.
  • Suitability assessment for each recommendation.
  • Mandatory written record of advice.
  • Disclosure of all conflicts of interest.
  • Cannot accept commissions from product providers.

See also

External references

References

  1. SEBI (Investment Advisers) Regulations, 2013 and amendments.
  2. NISM Series-X-A and X-B documentation.
  3. SEBI Master Circular for Investment Advisers.

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The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

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WebNotes is independent. No relationship with any broker, registrar or bank named in this article.