Many Freefincal readers have shown interest in becoming a SEBI Registered Investment Advisor to offer unbiased advice to clients and earn a decent income from this. Investment Advisory can be a second career for many DIY investors passionate about helping others manage their finances.
As per old SEBI regulations, a postgraduate qualification in finance and 5 years of relevant work experience were the criteria for applying for an RIA licence.
The good news is that SEBI recently relaxed the eligibility criteria.
Now, finance, accountancy, business management, commerce, economics, capital market, banking, insurance, and actuarial science graduates are eligible to apply for RIA.
- The experience stipulation is removed.
- If you have the above academic qualification, you can apply for an RIA licence, even if you have no work experience.
- You must also pass the NISM XA and XB examinations to get the RIA licence.
Unfortunately, Graduates in other subjects like science/ engineering/ Arts cannot consider this even now. They should still go for a PG in Finance.
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Melvin Joseph, one of the most experienced RIAs in the country, is on a mission to create more RIAs. He is not new to Freefincal readers. He has created around 3400 financial plans in the last 14 years. Also see:
- Fee-only Advisor Journey: Melvin Joseph’s determined struggle to the top
- My experiences as a fee-only financial planner for the last 12 years
I met him for the first time in March 2015 and later in Oct 2016 during the Mumbai DIY investor meets and then again during Fee-only India’s launch: a movement to serve investors and advisors.
His interview with LabourLawAdvisor talks about his journey and plans to create more RIAs.
He started Kids Education and You ( KEY) in 2018, a movement to support the education of underprivileged kids. Around 960 kids are beneficiaries of this.
He is conducting a webinar for RIA aspirants on Sunday, 2nd February, at 11 am. It will be a golden chance to listen to him if you are serious about becoming an RIA.
He will guide you in getting an RIA license, setting up an advisory business, etc.
VAXEL Academy will arrange the webinar. There will be a registration fee of Rs. 1000/-.
Entry is limited only to the first 50 participants.
If you want to attend the webinar, please register with this link. https://vaxel.in/courses/ria-webinar/
Note: Freefincal has no conflict of interest in this initiative. In our opinion, Melvin is one of the best and most ethical advisors, and this is an excellent opportunity if you wish to become an advisor.
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Dr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
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