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Home / SEBI & Capital Markets / SEBI Investment Adviser (RIA) Registration
Last updated: 2 October 2026
Giving investment advice for a fee requires SEBI registration as an Investment Adviser. Expertvuw’s team helps individuals, firms and companies meet the eligibility, certification and deposit requirements, apply to SEBI and enlist with the supervisory body.
Investment advisers are regulated by the SEBI (Investment Advisers) Regulations, 2013, amended with effect from December 2024. Any person who, for consideration, advises clients on investing in securities or investment products must be registered, unless exempt.
Individual advisers and the principal officer and persons associated with advice at non-individual advisers need prescribed qualifications and NISM certifications (Series X-A and X-B). The 2024 amendments introduced part-time investment advisers, subject to conditions, and simplified some requirements. Registered advisers enlist with the Investment Adviser Administration and Supervisory Body (IAASB), which is BSE, and maintain a deposit with a scheduled bank based on client numbers.
Fees charged to individual and HUF clients are capped — currently ₹1,51,000 per family per year under the fixed-fee mode, or 2.5% of assets under advice under the AUA mode. Advisers must keep advice separate from distribution and maintain records of advice and risk profiling.
Basis: SEBI (Investment Advisers) Regulations, 2013, as amended (effective December 2024); SEBI guidelines for investment advisers (January 2025); BSE as IAASB. Last updated: 27 September 2026.
Anyone giving investment advice for consideration, unless exempt.
NISM Series X-A and X-B certification required.
Introduced by the December 2024 amendments, subject to conditions.
Registered advisers enlist with BSE as the supervisory body.
₹1,51,000 per family per year (fixed fee) or 2.5% of AUA for individual/HUF clients.
Advice must be kept separate from distribution activities.
RIA issues usually relate to fees and segregation.
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RIA registration connects with these services.
Research analyst registration.
Mutual fund distributor ARN.
Portfolio manager registration.
Client data privacy policy.
Check eligibility and category.
Complete NISM X-A and X-B.
Compile application and policies.
File with SEBI.
Enlist with IAASB (BSE).
Create the deposit and start advising.
Advisers have ongoing obligations.
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Anyone who advises clients on securities or investment products for a fee, unless exempt under the regulations.
For individual and HUF clients, ₹1,51,000 per family per year under the fixed-fee mode, or 2.5% of assets under advice.
A category introduced by the December 2024 amendments allowing advisers who carry on other activities, subject to conditions.
NISM Series X-A and X-B.
Advice and distribution must be kept separate, as required by the regulations.
ACS – Director, Expertvuw Management Pvt Ltd
SEBI applications and filings are prepared by Expertvuw’s team. Certificates, audits and due diligence that SEBI regulations reserve for practising professionals or registered intermediaries are provided by independent registered professionals, and representation before SEBI or SAT is made by advocates or authorised professionals.