SEBI Registered Investment Advisers (RIAs) across the country have constituted a new association called the Association of Registered Investment Advisers (ARIA).
Here are the key objectives of ARIA
- Conduct surveys and undertake research on industry issues
- Represent the community interests to regulator and other stakeholders
- Seminars, workshops, conferences and other such events to raise the standard of RIA practice in India
The association was registered in January this year and has 95 members across 20 cities. ARIA has six board members including Chairman Lovaii Navlakhi and Vice Chairman Suresh Sadagopan.
Talking about the association, Mumbai RIA Suresh Sadgopan of Ladder7 Financial Advisories said, “We have decided to conduct monthly meeting of members. In these meetings, we will discuss various issues related to RIAs. The topics could range from business development to regulatory challenges.”
Membership
ARIA’s membership is open to individuals and corporates having a valid SEBI RIA license under Investment Advisors Regulation, 2013. Corporates with 20 or more offices will be registered as institutional advisors.
There are two types of membership – annual and life. While annual membership is valid for a year, life membership lasts for 10 years.
An individual RIA has to pay Rs.2,000 for annual membership or Rs.18,000 for the life membership. For corporates, the annual membership and life membership fees are Rs.6,000 and Rs.54000, respectively. For institutional advisors, while the annual membership fees is Rs.50,000, life membership fees is Rs.4.50 lakh.
You can click here to register as a member of ARIA.
