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Investing  ·  4 min read

Looking for a Financial Advisor in Raipur?
Know Who You Are Talking To

In India, "financial advisor" covers people registered in very different ways. Here is how to tell a mutual fund distributor from a SEBI-registered adviser, and how to check either.

Ravinder Pal Singh Ubeja  · 

In India, only a person registered with SEBI as an investment adviser may call themselves an investment adviser. Most people offering investments in Raipur are AMFI-registered mutual fund distributors or IRDAI-licensed insurance agents. Both are legitimate; they are simply different roles. Check the registration before you hand over money.

The three registrations you will meet

  • AMFI-registered Mutual Fund Distributor. Holds an ARN from AMFI after passing the NISM distributor exam. Helps you choose and invest in mutual funds, and handles the transactions and servicing.
  • IRDAI-licensed insurance agent or distributor. Licensed to sell insurance for the insurers they are authorised with, and to help with claims.
  • SEBI-registered Investment Adviser (RIA). Registered with SEBI after passing the NISM investment adviser exams. Gives investment advice under SEBI's adviser rules and cannot also act as a distributor for the same client.

How to check

  • Distributors: search the ARN on AMFI's website, and check that the name matches.
  • Advisers: search the registration number on SEBI's list of registered investment advisers.
  • Insurance: the licence number should appear on documents; the insurer can confirm it.

Questions worth asking anyone

  • What are you registered as, and what is your registration number?
  • Who will actually hold my money? (It should be the fund house or insurer, in your name.)
  • What will this cost me in total, and how do I exit?
  • Will you review this with me every year?

Where MGR WealthPro fits

MGR WealthPro is an AMFI-registered mutual fund distributor (ARN-307107) and IRDAI-licensed insurance distributor (I-241174N0118216), and arranges loans through partner banks and NBFCs. We are not registered with SEBI as an investment adviser. Your investments are always held in your own name with the fund house or insurer.

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Mutual fund investments are subject to market risks. Read all scheme related documents carefully. Past performance is not indicative of future returns. MGR WealthPro acts as an AMFI-registered mutual fund distributor (ARN-307107) and does not provide portfolio management services in its own name.

Insurance is distributed under IRDAI licence I-241174N0118216. Insurance is a subject matter of solicitation. Loan products are arranged through partner banks and NBFCs; sanction, interest rate and final terms rest solely with the lender. Nothing on this website is an offer, a guarantee of return, or personalised investment advice under the SEBI (Investment Advisers) Regulations, 2013.

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