We are pleased to inform you that we have transitioned from being an Individual RIA to a Non-Individual RIA as BasuNivesh Fee Only Financial Planners!
My aspiration to become a SEBI RIA began as soon as SEBI introduced RIA Regulations in 2013. Despite being a CFP with over 5 years of experience back then, I was ineligible to apply due to being an undergraduate at the time. Consequently, after finishing my graduation, I submitted my application in 2017 and obtained my individual SEBI RIA registration in 2018. I shared this achievement through my blog post titled “Introducing Fee-Only Financial Planning Service!“.
Reasons behind moving from Individual RIA to Non-Individual RIA
# To increase our business
It is important to note that when an individual RIA’s ACTIVE client count reaches 150, they are required to cease their individual RIA business and obtain a non-individual RIA license if they intend to continue serving more than 150 active clients.
Therefore, transitioning from serving individual RIAs to serving non-individual RIAs allows us to expand our services to a larger audience and grow our business.
# No change in service
Just because we moved from individual RIA to non-individual RIA does not mean there is any change in service offerings. The fee, process, and commitment will remain the same as how it was earlier.
Please check the information regarding the service details of our fixed fee-only financial planner offering at the “Fixed Fee Only Financial Planning Service“.
# We may have a team
At present, our team consists of two members. Nevertheless, we anticipate that a few more individuals will be joining us soon. In my capacity as a principal officer of the firm, I will remain the primary point of contact and bear full responsibility.
# Our registered office is in Bangalore, but we offer services nationwide and worldwide.
Given that our registered office is located in Bangalore, often leads to the question of whether our services are exclusively for Bangalore residents. However, with technological progress, physical distance is no longer a barrier. Therefore, our services cater to individuals in Bangalore, as well as other regions in India and around the globe.
Meetings can be arranged and conducted effortlessly through Google Meet, Skype, or Whatsapp calls, while data can be exchanged via email.
Consequently, our services are accessible to everyone, regardless of their location.
In conclusion, I would like to express my gratitude to my loved ones, supporters, blog followers, and clients who have been instrumental in my blogging journey. Their unwavering support and encouragement have motivated me to transition from an individual RIA to a non-individual RIA.
