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'The 1% Club' Becomes the First Finfluencer Firm to Receive SEBI RIA License.

Banking & Finance | Dated: 07 Feb 2025

In February 2025, The 1% Club, a financial advisory startup founded by internet personality Sharan Hegde, became the first finfluencer-led company to obtain a Registered Investment Advisor (RIA) license from the Securities and Exchange Board of India (SEBI).

🎯 Key Highlights:

  • - The 1% Club is now officially authorized to provide personalized financial planning services under its Personal Chief Financial Officer (CFO) division. This division, which was previously launched to offer customized financial guidance, currently manages assets worth Rs. 750 crore (approximately USD 90 million) in assets under advisory (AUA), showcasing its strong foothold in wealth management.
  • - After undergoing a rigorous 6-month evaluation process, The 1% Club has secured the Registered Investment Advisor (RIA) license from SEBI. This license enables the firm to broaden its technology-driven, cost-effective advisory services, making professional financial guidance more accessible to a larger audience.
  • - To strengthen its presence in India’s wealth management sector, The 1% Club plans to expand its advisory team beyond its current 40 members and establish operations in major cities across India. With an existing membership base of 85,000 individuals, the company also intends to launch additional SEBI-approved investment products, further enhancing its service offerings.

💡 Other Important Facts:

  • (i) The firm has already made significant strides in financial literacy through its workshops, including “Money School,” which has impacted 250,000 users. These initiatives reflect The 1% Club’s commitment to empowering individuals with financial knowledge while fostering a community of informed investors.
  • (ii) With the RIA license, The 1% Club is set to monetize its advisory services and tap into India’s growing retail investing market, aiming to revolutionize financial advisory and make wealth management more accessible.
  • (iii) To obtain an RIA license from SEBI, a firm must be a company or LLP, with at least one graduate director/partner—preferably holding CFA or MBA (Finance) qualifications. Advisors must pass the NISM-Series-X-A (Level 1) exam, and the firm must maintain a minimum net worth of Rs. 25 lakh. As of January 2025, India has only 1,300 RIAs, highlighting the exclusivity of this certification.

📚 Test Your Knowledge:

Which finfluencer-led firm recently became the first to receive the SEBI Registered Investment Advisor (RIA) license?

Correct Answer: The 1% Club

🚀 Quick Recap:

About The 1% Club

  • CEO : Sharan Hegde
  • Headquarter : Mumbai