What is a part-time investment adviser under SEBI’s rules?

Lesson 27 of 50 for advisers · Part-time investment advisers · 3 min read · Reviewed 13 Nov 2026

Quick answer

An individual or partnership firm that advises for a fee while running another business or job unrelated to securities, such as a CA, doctor, lawyer, teacher or licensed insurance agent. They meet the same qualification as full-time advisers, may serve at most 75 clients at any time, and must call themselves a part-time investment adviser.

The category started on 16 Dec 2024. The other work must be unrelated to securities and must not involve handling client money or advising on other investments.

Advising on gold, property or crypto rules a person out.

The cap is 75 clients at any time. The title “part-time investment adviser” goes on every client communication.

A CA giving incidental securities advice during tax work needs no registration. Advice on a specific security to a specific client does.

Key idea: Invoices for the other business carry a disclaimer, in at least 10-point type, that it is outside SEBI’s purview.

Sources

Try the short quiz on this page to check what stuck.

Common questions

Does an employed person need anything extra?

An employer’s no-objection certificate, and a new one on changing jobs.

Is the qualification lower?

No. It is the same degree and NISM certification as a full-time adviser.

Is there a part-time research analyst?

Yes, with the same 75-client cap.

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