How to Become a SEBI Investment Advisor
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- Опубліковано 5 лют 2025
- After watching this complete video, WHAT WILL YOU LEARN?
➤ All About SEBI RIA guidelines, regulations and framework
➤ Why becoming a SEBI RIA is useful
➤ The Process & Steps to be a SEBI RIA
➤ Industry Recognised Certifications in Financial Markets
THE BACKGROUND
The Securities and Exchange Board of India (Sebi) has brought in a slew of regulations governing registered investment advisers (RIAs), through a notification issued on 3 July. Many of these changes were proposed by the capital markets regulator in a discussion paper issued in January 2020.
Sebi has clearly mandated that Independent Financial Practitioners and Advisors can not call themselves or use the terms such as Wealth Advisor or Independent Financial Adviser (IFA) or Financial Planner etc to describe themselves. If you are working for a particular product, you can be termed as Agent but to be known as Investment Advisor, you need to be registered with SEBI as per their mandated guidelines.
It's Very knowledgeable video .sir 1 video.sebi Rules and law of Advisory and audit.
Superb.
Would request you to mention your query in detail so that we can help you further.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
I am a chemical engineer. I have cleared NISM XA and XB examination recently. I have cleared NISM VA and VC. I have become a mutual fund distributor and insurance advisor with Nj Wealth as well as NJ Insurance, Surat. Now I want to learn in detail CFP course material to appear for the CFP examination with your assistance and help. My aim is to give honest(Unbiased), ethical support to the needy one. I feel that the retirement problem is going to increase in the coming years.
Did you require previous work experience to become an RIA. If yes then for how many years . Whats the difference in experience required for a partnership firm and an individual
Are you helping with the process of investment advisor,?
Awesome video..gave a great clarity on the domain. However while going through this there is a requirement or work experience of 3 years.being from a non finance back ground i like to pursue pg diploma along with CFP. so how it works from non finance background
First of all thanks a lot for your words of compliment.
The work experience is 3 yrs to provisionally apply for SEBI RIA or 5 years to be a SEBI RIA. If you want to pursue PG Diploma with the intent of becoming a SEBI RIA at some point of time later, then please note that your PG Diploma has to be a 2 yrs Program from a UGC Recognised Institute/ College or else it will not be considered valid for SEBI RIA Qualifications Criteria. Doing CFP would meet the Certification Criteria very well.
What is the process and requirements for a corporate (a private limited company) to become RIA?
Thanks.
In case you are applying to be a SEBI RIA in the name of a Private Limited Company, then you would need to have at least one promoter/ key person in the company meeting the SEBI RIA Criteria, and his educational qualification, certification, and experience would be submitted. Now the application fee for SEBI RIA in the case of a company is Rs 25000/- as against 5000/- for an Individual and similarly, the Registration Fee is 5,00,000/- in case of company as against Rs 10,000/- in case of individual and the capital adequacy for which you need to give a certificate from CA is required to be Rs 25,00,000.0 in case of company as against Rs 1,00,000/- in case of a person.
Rest of the process remains the same.
Can a sub-broker become sebi registered investment advisor if they meet the above criteria?
CWMs are also eligible?
What is procedure for sebi research and analysis
Can an individual be both RIA and MFD?
I am BE graduate with 3.5 yrs banking experience in govt bank as probationary officer. I haven't done any master's degree.
Does my banking experience will count as 5 yrs exp in finance field (required for sebi registration) ?
And second question - If I clear Xa and Xb certifications right now, can I become sebi registered advisor?
SEBI has stated 3 requirements to be an RIA.
Qualifications, Certifications & Experience.
Qualifications-wise, you need to be a Post Graduate in specified streams of Finance, Economics, Business, Commerce, Accounts, etc. Since you mentioned that you are a BE Graduate, so I am afraid that you don’t match the educational qualification criteria for SEBI RIA.
Certifications-wise, you would need to CFP or NISM XA/XB. But this is in additional to educational qualifications.
Experience-wise, you would need 5 years of experience in financial services. Banking experience is considered valid here but since you don’t match the qualifications criteria hence it's of no relevance.
Can a c a inter qualified in the year 1999 become a RIA after passing NISM 10 A 10 B exam.kindly clarify
Hello sir
I want to know where to find the Form A
Also, for qualification is an exit letter gym previous organisation enough?
I am BE Mechanical and MBA in Operations Management. Will I be eligible for Sebi registered RIA or Research Analyst?
Dear sir ,
I have 3 years experience in equity dealing as financial advisor worked in companies karvy , kotak and axis securities. I have also completed pgdm in banking and finance from b school . I want to register for individual investment advisor am I eligible sir, as I have certificate in nism derivatives,currency and mutual funds , I don't have CFP or xa xb , am I eligible sir
SEBI has stated 3 requirements to be an RIA.
Qualifications, Certifications & Experience.
Qualifications-wise, you need to be a Post Graduate in specified streams of Finance, Economics, Business, Commerce, Accounts, etc. If you have a PG Diploma then it has to be a 2 yr program and from a UGC Recognised Institute/College. Since you have not mentioned the name and duration of the program, I can not comment on whether your PGD would be valid or not.
NISM Equity, Derivatives, Currency, etc don’t matter for SEBI RIA. You need to be either a CFP or minimum NISM XA-XB qualified. If you are looking for a comprehensive learning and skill set, go for CFP whereas if you are willing to do it just for the namesake and to apply for RIA, then you can look at NISM XA-XB.
mba finance DISTANCE education is also eligible for apply investment advisor right,im not in full time education?plz help me its my career,waiting for ur reply
please reply team
MBA Finance distance education or online program is eligible but that is subject to being
a) 2 yrs Program and not 1 yr executive MBA program etc
b) Only UGC Recognised Degree Programs would be considered valid.
Since you haven’t mentioned which college or university you have done your MBA from, I am not able to comment on a specific answer but the generic rule is as stated above.
@@ICOFPINDIA annamalai University DDE team
@@vijayakumarsubramaniyan6765 Yes you can
MBA is eligible?
SEBI has stated 3 requirements to be an RIA. Qualifications, Certifications & Experience.
Qualifications wise, you will be eligible if you do MBA.
Certifications wise, you would need to CFP or NISM XA/XB.
Experience wise, you would need 5 years of experience in financial services.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
Hi, I have a mba general, worked in a IT company for 21 years.. offline I did financial services (not in a registered company).. I'm curious about experience part.. will clear the 10a n 10 b .. can I still apply for RIA?
Hi, I have a masters in business analysis and strategic management from the UK. Worked as a business consultant for 2 years in EY UK and have 3 years experience prior to that at a stock broker firm - WIll I be eligible to become a SEBI Registered Investment Advisor (provided I pass series X A and X B exams?
Hi! With your educational background and work experience, you should meet the eligibility criteria for becoming a SEBI Registered Investment Advisor. In addition to passing the NISM Series X-A and X-B exams, SEBI typically requires a postgraduate degree or equivalent qualification in relevant fields like finance, business management, or economics, along with relevant work experience in the financial services industry. Your experience with EY and a stock broking firm should align well with these requirements. However, it's always a good idea to review the latest SEBI guidelines or consult directly with SEBI or a compliance expert to ensure you meet all the criteria. Best of luck with your exams!
The latest SEBI rule requires five years of 'relevant experience' to become principal officer in an Investment Advisory firm. Will my articleship experience and my experience with Oracle EPM financial products be considered relevant? Or is it mandatory to have worked in an investment bank or boutique advisory firm?
And what if I am managing my portfolio, will it be considered in experience?
Please, help. Thanks and Regards
Hi @user-fq6nd9kf5s,
Great question! SEBI generally defines 'relevant experience' in the context of roles directly related to investment advisory, financial planning, portfolio management, and related activities. Articleship experience, if it's in the financial advisory or audit fields, might be considered relevant depending on the specific nature of the work you were involved in. Experience with Oracle EPM financial products could potentially be relevant if your role involved significant financial analysis or advisory tasks.
Managing your portfolio, however, typically won't count as professional experience unless it was done in a formal, professional capacity, such as through a registered advisory firm. For specific advice, I’d recommend consulting with SEBI or a professional who specializes in regulatory compliance.
Hope this helps!
I have completed my Mpharm,,
May i eligible for sebi register qualification criteria?
Sir I want to becomes RIA I complete BSc in physics.
Sir can the professional qualification be ACCA
A question, is it mandatory to be a sebi RIA to practice and be a financial planner and advise people as a fee only advisor? I intend to give unbiased advices without selling any specific product.
Nikkhiel, SEBI RIA Circular says that if you are dealing in more than one product then it is required to be registered as a SEBI RIA. However, it again says that the business which is incidental to your practice and is covered by your license can continue and you don’t need to be a SEBI RIA.
Let me explain it with an example:
If you are CA and then you are offering investment /taxation advise to your clients, you can do that without becoming an RIA because that is incidental to your business and CA in itself is a license to practice. Similarly, if you are a CFP and you are offering investment planning/financial planning advise to your clients, you can do that without becoming an RIA because that is incidental to your business, and CFP in itself is a license to practice.
But if you are an Independent Financial Advisor, selling MF and Insurance or any other product, you would need to be a SEBI RIA.
In current practice the MFD, Insurance advisors are able to dodge the law a bit but gradually SEBI will tighten the noose and in days to come we expect to have stringent policy.
What if I am a mutual fund distributor.. Am I able to do IA as its incisental to the profession?.. Pls guide..
How to become RA?
Complying with sebi RIA guidelines is a nightmare..avoid
If a firm is NOT RIA and any director is RIA then that firm or website can advise?
Hello @Arun Ji,
Technically and going by the books NO.
An individual entity and a corporate entity are treated differently in SEBI RIA’s definition.
However, as a normal business practice, the director who is an RIA may advise with his own name under the umbrella of the company brand, that would solve the purpose.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
THANK YOU SO MUCH SIR
You are welcome.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
i have complete MSC(IT) eligible for SEBI Investment Advisor?
SEBI has categorically stated in its RIA Circular, wrt the Qualifications Criteria, that one has to be a Masters, MBA in specific domains such as Finance, Commerce, Accounting, Economics, Business Administration, etc.
M.Sc (IT) would not meet the criteria. However, if you want to step into the financial advisory space, you can always do CFP (Certified Financial Planner) certification. It is more like the CA of personal finance and gives you a license to practice independently as a financial planner. For becoming a CFP you need to be a graduate and there is no restriction on the stream that you come from.
Sir me b.a with English graduation hu.me ab post graduate m.a with economic krta hu to ria ke liye eligible hoga ke nai
Superb. Would request you to mention your query in detail so that we can help you further.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
Can a chartered accountant go with this course??
Yeah, of course. CFP happens to be an extremely popular and loved program among CAs. Rather many of the faculty members at ICOFP who teach you during CFP Program, themselves happen to be Chartered Accountants. CA+CFP would be a superb combination of professional skills and certification.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
Does a Qualified Cost and Management Accountant (CMA-India) need to have 5 years of practical exposure in Advisory or just passing the exam along with other requirements be enough.
Please guide..
The experience clause stated by SEBI for becoming an RIA is applicable to all. However, let me state that your experience of articleship / training during your CMA program would also be considered as an experience and can be included while you arrive at your 5 years experience criteria.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
I am a practising CA....Would 3 years of my articleship done during CA also be considered as experience in financial services ?
A chemical engineer can do a CFP program of an age 70+?
Since you are saying Chemical Engineer so we assume that you would be a Graduate (B.Tech / BE / B.Sc), and hence you are eligible to do CFP. Please note that there is no upper age cap on doing CFP. At any age you can opt to do. Rather every month we see lot of retirees joining CFP either for the sake of building their skills in managing investments or doing a investment advisory as a business.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
can people with OCI also get this licence?
Yes, why not. SEBI RIA Circular or guidelines no where restrict you.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
Hi sir this is Srinivas from Andhra Pradesh I am a graduate with no work experience I have cleared all the three basic certifications and yet to clear the CFP final exam can I go for the n i s m 10A 10B course
Hello Srinivas,
You have mentioned that you have Cleared CFP Level 1-2-3 and are yet to take CFP Final Exam. Since you are in your CFP Finals, so let's just do CFP Final level and get your CFP License / Membership. After that, you don’t even need to look at NISM XA-XB. FP is much bigger than XA-XB in terms of learning, skill set, program recognition, industry validity, etc
XA-XB curriculum is not even 20% of what you learn in CFP and hence it would be redundant for you now.
Mere pas nism exam 1 or 2 pass hu aur experience hai 5 years
Hlo can I have ur number
Sir can any 12 IN COMMERCE , BACHELOR IN HOSPITAL MANAGEMT ,Master in HOSPITAL MANAGEMENT student can be financial advisor???
Hello @Abhishek
Anyone can be a financial advisor but if you want to be a SEBI Registered Investment Advisor then you need to meet the criteria. In current times, SEBI is strengthening the RIA model and I personally believe that in the next 10 years probably SEBI may make it mandatory for all to be professionally qualified, competent, and registered. For becoming a SEBI RIA, the qualifications requirement is a Post Graduate in specified streams of finance, commerce, economics, business, etc. If you come from Hospital Management and want to get into the financial world, you shoud look at becoming a Certified Financial Planner (CFP).
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
Hi sir, I am MBA in Finance. I am working in banking software company as business analyst. I have 15 years exp. Am I eligible ?
SEBI has stated 3 requirements to be an RIA. Qualifications, Certifications & Experience.
1. Qualifications wise, you are very eligible.
2. Certifications wise, you would need to CFP or NISM XA/XB.
3. Experience wise, you would need 5 years of experience in financial services.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
is MBA in Project Management eligible for SEBI Investment Advisor?
SEBI has categorically stated in its RIA Circular , wrt the Qualifications Criteria, that one has to be a Masters, MBA in specific domains such as Finance, Commerce, Accounting, Economics, Business Administration, etc.
MBA in Project Management looks to be a very generic term to me. I would need to see your degree certificate as what is exactly written and what the subjects are included. Then only I can comment with surety whether it would be valid or not. However if you want to step into financial advisory space, you can always do CFP (Certified Financial Planner) certification. It is more like the CA of personal finance and gives you a license to practice independently as a financial planner. For becoming a CFP you need to be a graduate and there is no restriction on the stream that you come from.
Sir, I have completed my PG in MCA (full-time 3 years) also I am an ARN holder for the last 5 years. i want to know i am eligible for the SEBI Investment Advisor.
No
SEBI has stated 3 requirements to be an RIA. Qualifications, Certifications & Experience.
Qualifications wise, you need to be a Post Graduate in specified streams of Finance, Economics, Business, Commerce, Accounts etc.
Certifications wise, you would need to CFP or NISM XA/XB.
Experience wise, you would need 5 years of experience in financial services.
Since your specialization of PG doesn’t match to the ones specified by SEBI, you wont be eligible to apply for SEBI RIA. However, you can very much do Certified Financial Planner certification and get a CFP license to practice as a financial planner independently.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
Querry Regarding new business
1) I am looking apply for RIA license to start my Fee based practise, I am a graduate + CFP + 4 YEARS of experience in financial field, am I elegible to apply?
2) I already have 1cr AUM in MF whats happens to that if I get RIA license?
Thanks in advance for the valuable suggestions I am going to get🙏
SEBI has stated 3 requirements to be an RIA. Qualifications, Certifications & Experience.
Qualifications wise, you need to be a Post Graduate in specified streams of Finance, Economics, Business, Commerce, Accounts etc.
Certifications wise, you would need to CFP or NISM XA/XB.
Experience wise, you would need 5 years of experience in financial services.
1. So on the parameter of Qualifications, if you are a Graduate, you wont be eligible.
2. on the parameter of Certifications, since you are a CFP, so you qualify the criteria.
3. on the parameter of Experience, you need 5 yrs experience but even with 3 yrs exp you can apply for a provisional registration.
40:48 Exam fees 1500 or 15000
This is NISM XA Exam fee is Rs 1500/-
Sir reply me plz🙏
I had two questions
1) Can we practice financial planning after CFP without registering with Sebi
2) What if we dont have work experience of 5 years in finance, can we still apply for RIA, Sebi?
Hi Vinit
1. Yes, if you want to practice as a Financial Planner and you have passed CFP Certification, then you can do your own practice without SEBI RIA registration. But here technically, the scope of your work would be financial planning and not investment advisory.
2. With an experience of 3 years you can apply and you get a provisional RIA approval but only after the completion of 5 years of experience your RIA license gets granted by SEBI.
Pls feel free to call us at +91- 9711437779 or visit us at www.icofp.org for more details.
@ICOFPINDIA I don't think experience is mandatory, it is an "OR" in the gazette
Does Engineer qualification fine?
RIA is a failed business now only MFD can survive 🥲😷No one is willing to give you fees for advice 🤣🤣
Hello @A K
Probably you are not looking at the whole picture.
Mutual Funds started in India in 1963 and since then MFD has been evolving as a business for more than 50years. SEBI RIA model has been proposed by SEBI around 2013-2014 and that too proposed, not implemented. SEBI RIA is nothing distinct, all that it says is that anyone who is giving investment advice across multiple financial products must register with SEBI, which is a kind of measure to regulate the industry. The way stock brokers, sub brokers etc are SEBI registered similarly it’s a new entity which has been devised by SEBI.
SEBI RIA is a welcome move and if you actually see, some of India’s best known investment advisors are moving to SEBI RIA model. As far as your point that no one wants to pay for advice is concerned, I know of people who are charging 25-30K for one time advice. Pls look for people like Lovaii Navlakhi, Gaurav Mashruwala, Dilshad Billimoria, Bhuvanna Sriram, Suresh Sadagopan and their model proves why your perception is completely wrong and why fee based is the way to go.
@@ICOFPINDIAAll your points are right but RIA model is for only HNI clients who can pay 25000- 30000 Rs while most Indians have low ticket size.