How much can a SEBI investment adviser charge?
Up to 2.5 per cent of assets under advice a year, or a fixed ₹1,51,000 a year, per family of client. The higher of the two applies, and the mode can change at any time.
Want this checked against your own position? We handle the documentation and the filing.
A SEBI registered investment adviser (advisor) may charge an individual or HUF client up to 2.5 per cent of assets under advice (AUA) per year, or a fixed fee of up to ₹1,51,000 per year, per family of client, across all services. The ceiling that applies is the higher of the two.
The two modes
| Mode | Ceiling | Counted |
|---|---|---|
| Assets under Advice | 2.5% of AUA per annum | Per family of client, across all services |
| Fixed fee | ₹1,51,000 per annum (earlier limit ₹1,25,000) | Per family of client, across all services |
IAASB revises the fixed-fee limit once in three years on the Cost Inflation Index, after consulting SEBI. Statutory charges sit outside the ceiling.
Changing mode
There is no minimum gap between mode changes any more. You can move a client from one mode to the other at any time. A minimum fee set inside AUA mode is treated as a fixed fee and capped as one.
What you can bill on
- AUA has to be demonstrable with demat or unit statements.
- Any part of the client's assets under a pre-existing distribution arrangement with any entity is deducted from AUA for your fee.
Advance fees and early exit
If the client agrees, you may take fees in advance for up to one year, under SEBI's circular of 2 April 2025. When the engagement ends early, the client is refunded for the unexpired period and you may keep a breakage fee of no more than one quarter's fee.
Who the ceiling covers
The limits, the refund rule, advance fees and breakage apply only to individual and HUF clients who are not accredited investors. Fees for everyone else, including accredited investors, are whatever you and the client agree.
We handle the documentation and filing: Investment Adviser registration
Sources read on 28 October 2026. SEBI revises these requirements, so we re-confirm every figure against the current circular before it goes into an application.
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