How to Build a SEBI-Registered Investment Advisory (RIA) App: 2026 Guide
AI Summary: Building a SEBI-registered RIA app in India requires the right mix of regulatory compliance, secure technology, and user-friendly features. This guide explains SEBI registration requirements, essential app features, client onboarding, technology integrations, and development costs to help you plan an investment advisory platform in 2026. |
India's investment advisers work under the SEBI (Investment Advisers) Regulations, 2013. SEBI rewrote large parts of them in December 2024. Net worth rules were replaced by a deposit, fee rules became more flexible, and advisers using AI now have to say so. If you are building an advisory app, those changes decide what your software must do.
This guide is for two kinds of teams: registered investment advisers (RIAs) who want their own app, and founders building a platform for RIAs. It covers who needs registration, what changed, the routes to market, the features the rules force you to build, the architecture and integrations, and what drives cost.
If you want the bigger picture of licences across India, the US, the UK and the EU, start with our Fintech Licensing Requirements 2026 guide. For an overview of the advisory tools RIAs use today, see The Indian SEBI RIA and RA advisory tech landscape.
Who needs SEBI investment adviser registration
Under the regulations, a person who gives investment advice about securities for a fee needs to be registered with SEBI as an investment adviser. After the 2024 amendments, the regulations apply to advice on securities that fall under SEBI's purview.
Your app needs a registered adviser behind it if it:
Recommends specific securities or portfolios to individual users
Builds a personalised plan based on a user's risk profile and goals
Charges users for that advice, by subscription, fixed fee or a share of assets
General financial education, calculators and market news usually sit outside the advisory definition. Where your product crosses the line is a legal question, so get advice before launch. Research recommendations for the public are a separate category (research analysts), with their own rules.
What changed in December 2024
SEBI notified the SEBI (Investment Advisers) (Second Amendment) Regulations, 2024 on 16 December 2024 and explained them in a circular dated 8 January 2025. The changes that matter for a product team:
Area | What the rules now say | What it means for the app |
Net worth | Replaced by a deposit lien-marked to the IA Administration and Supervisory Body (IAASB), scaled to client count | Track active client numbers so the adviser knows when the deposit tier changes |
Deposit tiers | ₹1 lakh up to 150 clients; ₹2 lakh for 151–300; ₹5 lakh for 301–1,000; ₹10 lakh above 1,000 | A client-count dashboard for compliance |
Fee modes | AUA mode up to 2.5% of assets under advice a year per family, or fixed fee up to ₹1,51,000 a year per family | Billing engine with family-level caps |
Changing fee mode | Allowed at any time, with the fee capped at the higher of the two limits | Billing must handle mid-year switches |
Who the limits cover | Individual and HUF clients only; not non-individual clients or accredited investors | Client-type flag drives billing rules |
AI tools | The IA is solely responsible for advice based on AI output and must disclose the extent of AI use to clients | Disclosure in the agreement and in-app, plus logs of AI-assisted advice |
Certification | Relevant NISM certification at all times, renewed before expiry | Staff certification tracker |
Three routes to market
Route | Who holds the registration | Best for | Watch-outs |
Register your own company as an IA | You | Advisory firms and startups whose core product is advice | Principal officer qualifications, NISM certification, deposit and ongoing compliance |
Partner with an existing RIA | The partner RIA | Fintechs adding advice to a wider product | The RIA must control the advice; contracts must reflect who is responsible |
Build software for RIAs | Each adviser client | SaaS and white-label platform builders | Your software has to support every client's compliance, so audit trails are a feature |
Features the regulations force you to build
Onboarding and KYC
Advisers must complete KYC for clients. Your onboarding flow needs PAN validation, KYC through a KYC Registration Agency (KRA), and the option of CKYC records. Collect only what you need and keep a full record of what the client submitted.
Risk profiling and suitability
The regulations require advisers to profile each client's risk and make sure advice suits that profile. Build:
A risk questionnaire with versioned questions and scoring
A stored risk profile that the client confirms
Suitability checks that compare each recommendation with the profile
A record showing why the advice fits the client
Client agreement and fees
Advisers must sign an agreement with each client before giving advice. Your app should generate the agreement, collect e-signatures, and store the signed version. The billing engine must apply the AUA or fixed-fee mode, enforce the family-level caps for individual and HUF clients, and handle mode changes.
Advice delivery and records
Every piece of advice should be stored with its date, the client, the reasoning and the documents behind it. Clients should be able to see their advice history in the app. Keep records for as long as the regulations require, and make them easy to export for audits and inspections.
AI disclosure
If you use AI to generate or support advice, the adviser is responsible for the output and must tell clients how much AI is used. Show the disclosure in the agreement and in the app, log which recommendations were AI-assisted, and keep a human review step before advice is sent.
Grievance redressal
Show the adviser's grievance contact in the app, track every complaint to closure, and point clients to SEBI's SCORES platform and the Online Dispute Resolution route.
Reference architecture
Layer | What it contains |
Client apps | iOS, Android and web: onboarding, risk profile, plans, advice, portfolio, billing |
Adviser workspace | Client list, model portfolios, recommendations, approvals, notes |
Compliance core | KYC records, risk profiles, agreements, advice log, AI-use log, complaints |
Portfolio data | Holdings from depositories and brokers, prices and performance |
Billing | Fee modes, family caps, invoices, payments |
Integrations | KRA/CKYC, Account Aggregator, broker APIs, payments, e-sign |
Reporting | Client reports, audit exports, client-count dashboard |
Our case study on building AdvisorAlpha shows how one advisory platform came together in practice.
Integrations and APIs
KYC: PAN checks, KRA lookups and uploads, CKYC, Aadhaar-based eKYC where allowed
Account Aggregator: consented bank and investment data for a full picture of the client's finances
Broker APIs: many Indian brokers offer APIs that let clients act on advice in their own accounts. Our guide to stock trading APIs in India compares the main options
Payments: UPI, cards and mandates for subscription fees
e-Sign for agreements
Market data for prices and portfolio valuation
Security and data protection
An advisory app holds some of the most sensitive data a person has: income, assets, goals, family details and identity documents. Build security in from the start:
Encrypt personal and financial data at rest and in transit, with managed keys
Use role-based access so advisers see only their own clients, and log every access
Keep KYC documents in a separate, restricted store
Get explicit consent before pulling data through an Account Aggregator or broker, and record it
Plan for India's Digital Personal Data Protection Act, 2023 as its rules come into force: consent notices, data-subject requests and breach handling
Run regular security testing, and fix findings before each major release
Our guide on API security for Indian fintechs covers the controls we apply on every build.
A phased build plan
Compliance core first. KYC, risk profiling, agreement, advice log and grievance tracking. This is what an inspection will look at.
Adviser workspace. Client list, model portfolios, recommendation drafting and approval.
Client app. Onboarding, risk profile, advice feed, portfolio view and billing.
Data integrations. Account Aggregator and broker holdings for a live portfolio view.
Execution. Broker API links so clients can act on advice in their own accounts.
AI assistance. Only once logs, disclosures and human review are in place.
Shipping in this order means you can onboard real clients early without building features you may not need.
Common compliance gaps we see
Risk profiles that never change. Clients' circumstances move. Prompt a review at least once a year and whenever the client reports a major change, and keep every version.
Advice sent outside the app. Recommendations sent over WhatsApp or email and never logged leave holes in the record. Route all advice through the platform, or capture it there.
Billing that ignores the family cap. Fee limits apply per family, not per account, so link family members in the data model.
AI with no paper trail. If a model drafted the advice, record the model, the inputs and the adviser who approved it.
White-label platform or custom build?
White-label RIA platforms get you live quickly with standard journeys. A custom build makes sense when advice is your product and you need your own models, user experience, data and integrations. Many firms start on a platform and move to a custom build once they know what their clients use. If you go custom, make the compliance core your first deliverable, since every other feature depends on it.
Cost and timeline drivers
We do not quote fixed prices without a scope. The main factors are:
Advice model: model portfolios are simpler than fully personalised plans
Number of integrations: each broker, AA or data source adds work
Billing complexity: AUA billing needs reliable portfolio valuations
AI features: AI-assisted advice needs logging, review steps and disclosures
Apps: native iOS and Android apps cost more than a responsive web app
Build your advisory app with Fintegration
Fintegration builds wealth and advisory platforms for India and the US, including SEBI-compliant onboarding, risk profiling, advice logs and broker integrations. Talk to our team to plan your RIA app.
FAQs: How to Build a SEBI-Registered Investment Advisory (RIA) App
1. What is a SEBI-registered RIA app?
It is a digital platform that allows registered investment advisers to offer personalized investment advice, manage clients, and track portfolios while following SEBI regulations.
2. Do I need SEBI registration to launch an RIA app in India?
If you provide investment advisory services as a business, you generally need SEBI registration as an Investment Adviser or must operate through an appropriately registered entity.
3. What features should an RIA app include?
Essential features include client onboarding, KYC verification, risk profiling, portfolio tracking, investment recommendations, fee management, and secure document storage.
4. How much does it cost to build an RIA app in India?
The development cost depends on app complexity, integrations, security requirements, and compliance workflows. A basic advisory app will cost less than a platform with advanced analytics and automation.
5. How does a SEBI-registered investment advisory app make money?
An RIA app can generate revenue through advisory fees, subscriptions, or eligible service charges, subject to SEBI's applicable fee regulations and disclosure requirements.
