Enterslice Research Analyst & Investment Advisory Assistance vis-à-vis Registration & Compliance Support In 2013 and 2014, SEBI subsequently notified guidelines about the regulations for SEBI investment advisors and research analysts. These regulations included within its ambit the conditions relating to registration, certification, and compliances to be managed by both entities after attaining the registration certification. Any entity, including a corporate body or even a bank or an NBFC, if undertaking investment advisory services, has to first obtain permission from the Reserve Bank of India and then shall apply for registration under the IA & RA regulations operating through a subsidiary or separately identifiable department. Nowadays, any credit rating agency, investment adviser, asset Management Company, or fund manager requires a research analyst who could formulate a research report for the public, audit, board of directors or its employees. Similarly, an investment advisor carries out the risk assessment procedure of the clients, provides reports of potential current investments to the clients, maintenance of records, audits, etc. That is why it becomes necessary for a company dealing with financial business to operate with the help of a research analyst and investment advisor to maintain its smooth functioning. At times, a newly formed SEBI registered investment advisor or a research analyst needs comprehensive compliance solutions that are innovative and protect the interests of their clients, but the inability of an untrained resource or difficulty in understanding compliances and regulations makes it difficult for them to operate effectively which is why a third party consultant and advisor who has expertise in understanding the dynamics of SEBI could be helpful and fruitful for hassle-free operations. Benefits of Engaging a SEBI-Registered Investment Advisor Regulated by SEBI The investment advisors registered under SEBI operate within the limit and under the guidance of SEBI regulation, due to which any process, compliance, maintenance of record, and even the advice is in line with the mandates of SEBI, making their clients automatically comply with the mandates of government regulations. Client-centric approach The SEBI-registered investment advisors gather all the details related to the requirements of the client and then analyze the situation along with developing the strategies and steps needed to secure the client's investment. Investment advisors keep the needs of their clients first and are not just operating with a mechanism with which they can make the clients use more of their offerings. Unbiased representation Investment advisors limit their advisory to clients and not to product or process originators. They hold no accountability on behalf of the clients and operate independently to limit the possibility of any future conflict. Qualified & Experienced The SEBI regulations for investment advisors list the experience and qualifications required for a person who desires to be an investment advisor or a research analyst. The mandate requires an investment advisor to hold graduation and post-graduation degrees and professional certifications related to finance and investments. Regular audits A registered investment advisor goes through a process of regular audits and checks, keeping it transparent and assessable. This is generally not the case when a financial institution takes investment advice from agents, etc. Benefits of Engaging a SEBI-Registered Research Analyst Credible and Qualified The research analyst registered under SEBI goes through a rigorous process of selection and can register only if they fulfil the criteria specified under the SEBI regulations for research analysts. This automatically raises the bar of quality, which SEBI wants to maintain in the research reports of the financial institutions. High-Quality Research The quality of research conducted by the SEBI registered research analysts has high standards, and the quality of research is such that it assesses and discloses risk easily. The professionals are SEBI-authorized professionals hence, procure unbiased results. Easy Access to Information Due to the nature of registration, the SEBI registered research analyst can access certain information that is generally unavailable in the public domain and can help the investors make valuable changes. Problem-Solving & Analyzing Skills A research analyst has in-depth knowledge, skills, and understanding of how the financial sector functions, due to which they have a case-to-case analysis of the problems that have or might arise in the system. This early detection and solution to a problem can make the functioning of an organization easy. Benefits of Registering Yourself As A SEBI Registered Investment Advisor & Research Analyst Fees based planning Non-registered investment advisors and research analysts generally work based on commissions, but the relationship between a registered investment advisor and a research analyst is fees-based, with both parties entering into the contract knowing the negotiated fees and work due to which they work formally and reasonably. Formally authorized by an authority In India, authorisation by the government strengthens a person's belief upon such an entity. Generally, those registered within a regulatory body have easy access to information, and compliance for them is easy and fast-tracked compared to non-registered entities. The same applies to registered investment advisers and research analysts, and they are in a continuous loop with the government regulations, making them more aware, which is why it is beneficial to operate as a registered investment advisor and research analyst. Cultural Alignment Those investment advisors' and research analysts' priority is to produce quality results, cannot work as agents merely on commission a commission basis. They would like to be aligned with the culture and demography of a client's business. They work on maximizing research support models and effective investment philosophies, ultimately rendering positive outcomes. Opportunity to give Custodian Alike Support Having a business relationship where the motive of each entity is to make the business successful is only possible when the advice sought, and research conducted is by an experienced and registered professional who is familiar with all the aspects of an entity business is pivotal for the growth of a business as well as an investment advisor. Easy To Render Compliance Support Every business looks for highly ethical and government-regulated investment advisors and research analysts because they are considered up-to-date with the rules and regulations, trained, and have the confidence to make a business complaint to all the rules and regulations. Risks Involved If You Choose an Unregistered Investment Advisor for Yourself Non-Transparent Disclosure At times, the investment advisors are not registered under SEBI regulations and operate secretively without informing their clients about the intricacies of the investments they are making on their behalf or even when informing them, creating confusion using hard-to-understand terminologies. This causes serious threats to the business in the future. Promising Assured Returns Investment is more like a gamble where a promise of full returns is merely befooling a client. No investment advisor can promise an assured return before investing, and who is applying a self-centric approach where they are merely concerned about getting their fees? Faulty Risk Profiling Unregistered investment advisors, in the lure of earning high fees, at times miss-sell their investment advisory without doing a proper check and risk assessment of the client profile, due to which, at times, they make the clients invest in high-risk profiles, ultimately attracting losses. Inaccurate and Incorrect Information An unregistered research analyst is not qualified enough to formulate a research report with due diligence, which is why, at times, the information in their reports tends to be incorrect, which, when in the public domain, becomes questionable and causes defamation to the business of the client. Self-Centric Approach It is the responsibility of a research advisor to inform their clients about the new trends and approaches of the markets around the globe, which could bring innovation to the client's product and processes, but because of the self-centric and benefitting approach, they focus merely upon the task in hand fess approach without exploring the abundant opportunities that might make their clients business successful. Enterslice SEBI Registered In-House Investment Advisory and Research Analyst Services Investment Advisory Services In Portfolio Management Managing a portfolio is like science, which needs a detailed and business-centric approach. Enterslice, with its team of SEBI-registered investment advisors, will manage your portfolios in a way that your group of investments achieves and maintains long-term financial objectives. It will assist you in systematic asset allocation and diversification. We formulate strategies for you to buy and sell your stocks and funds with a conservative approach to preserve capital.. Tax Saving Investment Planning Each business, while being tax compliant, also aims at saving taxes. Enterslice has an expert tax advisory unit that will assess your approximate income and make tax investment plans according to that. Our advisors will plan your taxes, make your taxation interface user-friendly, take care of all the potential avenues where you can save taxes under section 80C, and aid your wealth creation by investing in tax-saving diversified equity funds. Our tax investment advisors will try to create a database where all your investments, expenses, and liabilities will be in one place, giving you ease of understanding. Insurance Advisory There are variable insurance schemes in the market of which a business and an individual are unaware. Our team of specialized insurance advisors will build a bridge between you and the insurance policy you hold or which might be beneficial for you to hold. Mutual Funds Investment The general trend of the market is that people choose mutual fund schemes by themselves, evaluating the short-term performance of such schemes, which sometimes don't sustain as per the buyer's expectations. Taking risks while choosing an investment scheme that is not best suitable for your business can have critical consequences. Our investment advisors are well aware of the tactics needed to evaluate schemes and their functioning, and we have a set of requisite experts trained to understand the nuances of mutual funds and schemes. Customized Investment Planning The general approach of an individual is that as he approaches his old age, he makes a will and keeps all his assets aside for the future generation. Keeping the assets aside in itself is a stalemate investment strategy. If you choose the right investment advisor like Enterslice, who will guide you to keep making profits from the assets listed in your will so that your future generation could hold enhanced and profit-generating assets. Our team has expertise in formulating customized investment plans related to your estate management, loans and advances, etc. Research Advisory Services In Data-Backed Actionable Research Ideas There are numerous data resources available in the public domain, with the help of which the businesses can generate useful matrices for their businesses, ultimately generating actionable insights for the business, but due to lack of support, most of the businesses fail to do so. Our team of expert research advisors can aid you with this and can customize a data creation plan that will thoroughly analyze the outcomes arising out of these data and will further help in generating actionable insights for your business. Stocks Portfolio Research Having genuine and accurate information is the first step to making any stock and mutual funds investment. Our team of expert research analysts is up to date with the market trends and the latest information about the stocks and funds dynamics; we will analyze quarterly results of the company and will create accurate data and charts curated and reviewed by our expert research analysts. Designing Quarterly and Annual Research Reports Our Expert Research analysts will formulate an equity research report so that insight into what the investors should buy, hold, or sell will be clearly stated in these reports, which will be available in the public domain. This will make the belief of current investors strong in the business and will attract new investors for future investments. These reports need due diligence and must be curated by an expert. Enterslice Compliance Assistance Services Registration Process Assistance The SEBI regulations for investment advisors and research analysts set down a detailed procedure of qualifications and eligibility needed to obtain a registration certificate. Only a professional entity expert in the legal and regulatory framework can interpret the regulations so that the investment advisors and research analysts can pass the SEBI-conducted examination and fulfil the requirements the regulators need. Enterslice has a team of expert investment advisors and research analysts who themselves are working within the regulatory framework of SEBI and will walk you through the registration process. Contract Management Acquiring a SEBI registration certificate giving you the authority to be an investment adviser and research analyst is easier than fulfilling the compliances mandated by SEBI in its regulations. While any investment business runs with the aid of investors, creating a contractual obligation between the investment business and the investor and the terms and conditions of this contract need to be designed to benefit both parties' interests. Enterslice and its team of contract managers will customize the contracts as per your needs, considering the SEBI regulations. We will curate such contracts, which will be party-specific and related to investment domains suitable for the investor as well as the investment company. Our investment advisors will review these contracts for you if you are interested in availing of their services. They will guide you through the future possibilities of your investments. Enterslice could be a one-stop solution for your contract management and insurance management-related advisory needs. SEBI annual compliance audit assistance According to the SEBI Investment Advisors Regulation, 2013, the investment advisors are required to conduct a yearly audit concerning compliance by a member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India within six months from the end of each financial year. Upon any adverse findings during the audit, the action-taking report by an investment advisor must be submitted within 1 month, and all these compliances observe amendments from time to time, making it difficult even for the investment advisors to understand its technicalities. This is where Enterslice can assist you by conducting quarterly audits and surveys through which the assessment of risk could be done within a stipulated time, and a cure could be managed before the annual audit. Legal and regulatory support SEBI is a regulatory authority, and using circulars and notifications, they keep on amending and modifying such existing rules, which might create confusion for the existing regulations. The same is true with the regulatory framework for investment advisors and research analysts, which observes amendments quite frequently. A registered investment advisor, while aiding an investment, needs their entire focus on the management of funds. If they are supported by a specialized legal team that could aid and support them from time to time and can hold them back from making legal errors, it will aid the entire process of policymaking, ultimately serving the clients efficiently. Enterslice has a specialized legal team that will make the understanding of SEBI regulations easy for you, along with the policy interpretation assistance so that no fault could be made by you in curating a policy just because the interpretation and understanding of legal terminologies were difficult to understand, and our team will provide you will best in the market legal and regulatory support for SEBI laws, rules, regulations, circulars, and notifications. Understanding SEBI Regulations on Investment Advisors and Research Analysts Understanding the Concept of Investment Advice- Any advice about the purchasing, selling, or dealing in the securities or investment products, written, oral, or through any other means of communication for the benefit of the client, is part of financial planning and functioning. Advice through newspapers, magazines, electronic, broadcasting, or telecommunications that is available in the public domain will not be considered investment advice within the ambit of SEBI regulations. Regulatory Framework for Investment Advisory On 21st April 2013, the SEBI(investment advisers) regulations 2013 came into effect, which specified the conditions required for the registration, certification, capital adequacy, risk profiling, and suitability, disclosures to be made, code of conduct, record to be maintained and inspection, etc. related compliances. It is important for any person holding a business involving advisory in the conditions mentioned above to obtain a certificate of registration from SEBI. Entities Who Are Allowed & Exempted For Registration Any business that is investment-related advice to anyone in return for consideration must register as an investment advisor under SEBI; this advice could be given by an individual, partnership firm, company, or corporate body. According to the regulation, any firm which deals with investment business and manages clients exceeding 150 members must register with SEBI. Entities that are exempted from registration as an investment advisor are- IRDAI registered insurance agents and brokers PFRDA-registered pension advisors AMFI-registered mutual fund distributors providing basic advice to the clients. Members of the Institute of Company Secretaries of India, institute of Cost and Works Accountants of India, and Institute of Chartered Accountants of India provide advice to clients that is incidental to their business. Registration and Eligibility Criteria for An Investment Advisor Eligibility criteria for net worth Is an important criterion for individual investment advisors, partnership firms, LLPs, and body corporates. For individuals, the net worth requirement is INR 5 lakhs; for partnership firms, INR 50 Lakhs; for companies, body corporates, and LLP, the net worth requirement is 50 lakhs. Any of the stated entities must have a professional qualification or a postgraduate degree or diploma, either in finance, business management, banking, capital marketing and accountancy, commerce, economics, or insurance, with 5 years of experience in any of these. Any entity eligible to be an investment advisor from the above-mentioned categories can do so by applying for registration through form A specified in the Investment Advisers Regulations, 2013. Along with this form, an applicant must attach his Proof of identity, address and qualifications, experience certificates, CIBIL score, net worth certificates approved by the chartered accountants, income tax returns from the past 3 years, and application fees, which are INR 5,000 if registering as an individual or partnership firm, any other entity needs to pay INR 25,000 as registration fees. Obligations upon an Investment Advisor A SEBI-registered investment advisor has to comply with certain obligations towards their clients, which are – Ensuring client satisfaction by identifying existing conflicts and possible conflicts with a transaction and keeping the client in the loop so that he understands and recognizes the same. An investment adviser must explain the process of identifying the assets in detail to the clients. The investment advisor must undertake strategies of risk assessment and mitigations, and the same must be informed to the client. Understanding The Concept Of Research Analyst Who Is A Research Analyst Any person with the necessary qualifications and expertise to provide reliable and accurate recommendations, opinions, and reports could be a registered analyst by SEBI. As per the SEBI regulations, a research analyst is the primary responsibility of preparing or publishing the research report's content, providing the research report, making, buying, selling, and holding recommendations, giving price targets, and offering an opinion concerning any public offer. Regulatory Framework For Research Analyst By way of notification no. LAD-MRO/GN/2014-15/07/1414 SEBI made regulations and designed a framework to register and regulate research analysts. This regulation was formulated to regulate all those entities, the business of which is the issuance of research reports and research analyses. As per the regulations, a research entity is one engaged in merchant banking, investment banking, brokerage services, underwriting services, research report issuance, and research analysis while being registered to SEBI, where the research report is any written or electronic communication that pertains analysis, recommendations, and opinions about securities and public offer. Registration And Eligibility Criteria For A Research Analyst Any entity that holds itself as a research analyst must do so after obtaining a certificate of registration from SEBI. An entity that existed as a research analyst before the commencement of this notification was given six months to make the application for registration. The application for registration shall be made in FORM A of the first schedule attached to the SEBI (Research Analyst) Regulations, 2014. necessary papers that are to be attached along with the application for registration are, Proof of identity Proof of address Proof of qualifications Certificate of experience CIBIL score Certificate of worth from a chartered accountant Returns on income tax for the last 3 years A person can be a research analyst only when he fulfils the minimum qualifications as stated by SEBI regulations, which are, Postgraduate degree or diploma in finance, accountancy, business management, commerce, economics, capital market, financial services. Postgraduate degree or diploma that is accredited by the Indian Council for Technical Education, National Assessment and Accreditation Council, or National Board of Accreditation. Postgraduate in the securities market specialization being research analysis from NISM. Graduation in any discipline related to financial products, markets, securities, fund, asset, or portfolio management, along with 5 years of experience. Obligations upon Research Analysts A research analyst must take the following steps to ensure an authentic research report- Information stated in the research report must be reliable and true. Terms used in making recommendations must be defined in the report itself. If the analyst uses a rating system, then they must explain the meaning of each rating and the considerations upon which these ratings are based. The research report must include the graph of daily closing prices for three years
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