India · Practice ManagementNew
From Authorised Person or Sub-Broker to SEBI Research Analyst
An AP or sub-broker earns on brokerage tied to trade execution, and cannot legally offer research or recommendations...
August 9, 2026 · 6 min readSoon
The Aktai Blog · Topic
Running an RA practice as a business: pricing within the SEBI fee cap, client retention, hiring an associate, referral programs, entity structure, and the first-10-clients playbook. For RAs who have the registration and are now building the business around it.
15 guides in this topic.
An AP or sub-broker earns on brokerage tied to trade execution, and cannot legally offer research or recommendations...
An MFD earns on commission and cannot give personalised advice. Becoming a Research Analyst opens a fee-based resear...
A CA already has the analytical skills a Research Analyst needs. What SEBI registration adds on top: the NISM exam,...
The recurring compliance and business mistakes that trip up first-year SEBI Research Analysts, from underpricing to...
Four structural patterns, not a personality trait, that distinguish SEBI Research Analyst practices that compound fr...
A fillable business plan framework for a SEBI Research Analyst practice: revenue projection by client count and pric...
What a compliant public presence looks like for a SEBI Research Analyst: content that builds trust without triggerin...
The specific reasons SEBI Research Analyst clients stop renewing, from silent disengagement to unclear performance r...
The signals that a solo SEBI Research Analyst practice has outgrown solo, what an associate can and cannot do under...
What a compliant client-referral approach looks like for a SEBI Research Analyst: what the Advertisement Code permit...
A pricing framework for SEBI Research Analysts within the SEBI fee cap: how to price by practice stage, retainer vs...
A channel-by-channel plan for a newly registered SEBI Research Analyst to sign the first 10 paying clients: warm net...
A practical roadmap for moving from a salaried research role to an independent SEBI Research Analyst practice: the r...
When a Research Analyst practice crosses the GST threshold, 18% GST on fees, input credit on tools, and how RA fee i...
How the entity you register under changes your fee cap, deposit, liability, tax and compliance load, and which struc...
Not financial advice. Aktai is software for SEBI-registered Research Analysts. It is not a financial adviser, broker, Investment Adviser, or Research Analyst, and is not registered with SEBI or any other financial regulator. It surfaces public filings and news and drafts factual notes for the registered analyst to review, edit, and sign. Aktai does not author research, make recommendations, or decide what any security is worth. The view, the recommendation, and the regulatory responsibility stay with the registered analyst who sends the note. Full disclaimer →