Can a professor, lawyer or doctor give investment advice? Sebi has a plan

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Also Read: Becoming an investment advisor is about to get a lot easier The requirements to become a part-time IA/RA are similar to those for full-time advisors. Applicants must have a relevant finance-related degree, or a postgraduate degree from NISM, or a CFA charter. Additionally, they must clear the NISM 10-A and 10-B exams.

If working in another full-time role, the applicant must get a no-objection certificate from their employer while applying for this job. The market regulator said those already working in the securities field and handling people’s money such as brokers, mutual fund distributors, PMS/AIF distributors, and real estate agents, may abstain from becoming part-time investment advisors. If the applicant is engaged in an activity under the purview of a self-regulatory organization like the Institute of Chartered Accountants of India (ICAI) and the Insurance Regulatory and Development Authority of India (Irdai), he/she would be allowed to become an investment advisor.

Hence, CAs and insurance agents would be allowed to become part-time IA/RA under the proposed regulations. Harsh Roongta, RIA, and founder of fee-only, says those involved in the securities field should also be allowed to become an IA/RA to make it a level playing field. The concept of part-time advisers will make it easier for many professionals to shift careers, said Vishal Dhawan, founder of Plan Ahead Advisors.

Consider an engineer who can leverage his/her mathematical expertise to become an IA/RA. Under the current rules, the engineer cannot obtain the IA/RA license without leaving their full-time job and committing entirely to the new venture. However, if the proposed part-time IA/RA rules are finalized, the engineer could first pursue