How to Verify a SEBI RIA Registration (Step-by-Step)

India has tens of thousands of people operating as "financial advisors," "wealth managers," or "investment consultants." A significant fraction have no SEBI registration — and operating without registration while providing personalised investment advice for a fee is illegal under SEBI regulations.

Verifying SEBI registration before engaging a financial adviser is a two-minute process that can save you from significant financial and legal risk.

Why Verification Matters

Unregistered advisers have no accountability mechanism. If an unregistered adviser misguides you, you have no regulatory recourse. SEBI's grievance mechanism (SCORES) only applies to registered intermediaries.

Registration requirements ensure minimum qualifications. SEBI-registered investment advisers must meet qualification requirements (NISM Series X-A and X-B examinations, or approved qualifications like CFA), maintain a minimum net worth, and renew registration periodically.

Registration does not guarantee good advice, but it does mean the adviser is subject to SEBI's inspection, can be penalised for violations, and has a record that can be checked.

Step-by-Step: Verifying an RIA Registration

Step 1: Go to the SEBI Intermediary Portal

Navigate to SEBI's official intermediary search portal. The URL as of 2026 is: https://siportal.sebi.gov.in

This is SEBI's official website. Do not use third-party databases for this check.

Step 2: Select "Investment Adviser"

On the portal's search interface, select the intermediary type: Investment Adviser. You can search by:

• Name: Enter the individual's or firm's name.
• Registration number: If the adviser has provided their SEBI number, enter it here for an exact match.

Step 3: Check the Registration Status

The search result should show:

• Registration number (INA for individual, INB for non-individual)
• Name of the registered entity
• Registration status: Active / Inactive / Surrender / Cancellation

A valid, active registration is what you want to see.

Step 4: Confirm the Name Matches

The name on the SEBI certificate must match the entity you are dealing with. If the adviser says they are registered but the portal shows a different entity name, investigate further.

Step 5: Check for Adverse Orders

On SEBI's website, under the Enforcement section, search for the adviser's name to see if there are any orders, directions, or penalties against them. While most advisers have clean records, a quick search takes 60 seconds and can reveal serious regulatory history.

Additional Checks

For MFDs (Mutual Fund Distributors): Verify AMFI registration at the AMFI website under the "Know Your Distributor" section. Enter the ARN number.

For stockbrokers: SEBI's intermediary portal covers brokers as well.

For insurance agents: IRDAI's website has a similar verification portal.

What Registered vs. Unregistered Looks Like

What to Do After Verifying

Verification is step one. A valid, active registration tells you the adviser is operating within SEBI's framework. It does not tell you everything. After confirming registration, do the following:

Ask for the disclosure document. Every SEBI RIA must provide clients with a disclosure document covering their background, qualifications, conflicts of interest, fee structure, and services offered. If an adviser resists sharing this, that is a red flag even with a valid registration.

Read the advisory agreement before signing. SEBI mandates a written investment advisory agreement for all client relationships. The agreement should clearly state services in scope, fee structure (and fee caps per SEBI regulations), responsibilities, and the grievance redressal process. Do not start with "informal advice first, paperwork later."

Check for recent SEBI orders. On SEBI's main website (sebi.gov.in), under the Enforcement → Orders section, search the adviser's name. Most registered advisers have clean records. Occasionally, you will find interim orders, penalties, or investigations. This check takes two minutes.

Verify the fee model is compliant. SEBI caps advisory fees for RIAs: currently 2.5% of assets under advice per annum, or ₹1.25 lakh per annum for fixed-fee clients (higher limits apply for accredited investors). If an adviser is quoting fees outside these limits without your accredited investor status in place, follow up.

Red Flags Even With a Valid Registration

A clean SEBI portal listing does not guarantee ethical conduct. Watch for:

• Mixing advisory and distribution without proper Separately Identifiable Division (SID) structure. An RIA who also distributes products under the same entity without SID is violating SEBI norms.
• Performance guarantees. No regulated adviser can guarantee returns. If someone with a valid SEBI number is promising assured returns, that is a violation.
• Unsolicited tips or bulk WhatsApp recommendations. Personalised advice under a SEBI RIA registration must be individual and documented. Mass tips via WhatsApp are not compliant.
• Undisclosed third-party referral fees. RIAs cannot accept referral commissions from brokers, AMCs, or insurers without full client disclosure.

SEBI registration means the adviser is in the regulatory system. It means accountability is possible. Combined with the checks above, it gives you a robust picture of who you are dealing with.

PI DELTA's Registration Details

For reference:

• SEBI Registration (RIA): INA000020721 — active, non-individual
• AMFI Registration (MFD): ARN 346875
• Registered Office: D-41, Sector 3, Ansal Sushant City, Meerut, Uttar Pradesh 250005

You can verify both on the respective SEBI and AMFI portals. Our SEBI Disclosures page contains our complete disclosure document, fee structure, and compliance information. If you find any discrepancy, contact us directly — we maintain full transparency about our regulatory standing.

Prakhar Soni is the founder of PI DELTA, a SEBI-registered investment adviser (INA000020721) and AMFI-registered mutual fund distributor (ARN 346875) based in Meerut, serving clients across Delhi NCR.