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How to Become a Registered Investment Advisor in India

The career of investment advisors comes with great demand. They are the professional that provides exclusive assistance to the clients when the main area of concern is related with the financial matters. Whether it is equipped with retirement planning, insurance options and investment strategies, investment advisors are there to solve any type of problems related with monetary issues. If you are from India and planning to pursue your career as an investment advisor, you need to obtain proper registration certification that will facilitate you to work as an investment advisor.

 
Apply for registration certificate

The first and foremost thing that you need to get the certification is to pass the examination of NISM or National Institute of Securities Market, namely ‘NISM Series V-A: Mutual Fund Distributors Certification Examination,’ On successful completion of the examination, you will get a certification from NISM. According the recent regulations, the willing candidates need to apply for the registration under the regulations of SEBI (Investment Advisers) Regulations, 2013. Applicants need to fill up the form properly and submit the same along with required documents. It is worth to mention in this context, if the application is for individual entity, it requires submitting a photo while the organization does not require any photo.

How to apply?

In most of the cases, applicants will obtain the response of SEBI with four weeks. However, the time of the registration may vary based on how efficiently the applicants are able to fulfill the criteria. Before, apply for the registration certificate, it is highly recommended to go through the eligibility criteria of the registration. Along with the form A, applicants need to pay Rs. 5000 as the application fees. You need to draft this amount in favor of “The Securities and Exchange Board of India,” that is payable at Mumbai. Apart from this, the candidates also need to apply online by following the strict guidelines of the SEBI that is updated on a regular basis.

Eligibility Criteria

-Where the applicant is a bank or NBFC, it should

be permitted by RBI to act as IA and the application should be made through a subsidiary or separately identifiable department or division.

-Where the applicant is a body corporate, other than a Bank or NBFC, the application should be made through a separately identifiable department or division.

-Where an entity incorporated outside India proposes to undertake IA services, the application should be made by the subsidiary in India of such foreign entity.

-Where a foreign citizen proposes to undertake IA services, the applicant should set up an office in India and undertake IA services through such office.

Eligible Criteria

After receiving registration certificate

After considering all the aspects of the applications, SEBI will grant a registration certificate to the applicants. After receiving the approval of the Securities and Exchange Board of India, the applicants need to pay a registration fee through the bank draft in favor of “The Securities and Exchange Board of India.” If the applicant is corporate the amount of registration fee is Rs. 1, 00,000, whereas the application fee for an individual is Rs. 10,000.

Verdict

After receiving the registration certificate from SEBI, applicants can work as an investment advisor. However, in order to continue their career sans hassle and get up-to-date about the latest regulations, it is highly advisable to pay a visit to the official website of SEBI and find the latest news regarding the new circulars and updated guidelines. Moreover, they must also abide by requirements of reporting by SEBI from time to time. Do not ever deny the terms and conditions, renewal rules and various other aspects that can prevent you to enjoy the great career potential of investment advisor.

Where the applicant is a bank or NBFC, it should be permitted by RBI to act as IA and the application should be made through a subsidiary or separately identifiable department or division.

for more faqs about the regulatory guidelines for Registered Financial Advisor indiaread this document from deloitte.

Reference
Securities and Exchange Board of India (Investment Advisers) Regulations,2013


Category: Advisor

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