India Retail Advisory · 2026

20 crore demat accounts, one credible advisor.

SEBI-registered, brokerage-linked, data-driven guidance for India's new-age investors. Two surfaces — own app and an Advisory Gateway for partner brokerages — built compliance-first under the 2025 SEBI AI Guidelines.

See the opportunity SEBI setup →
20 Cr+
Demat Accounts (Aug 2025)
65%
Under 35 years old
₹1.51L
SEBI fee cap / family / year
Opportunity

Why Now

Massive TAM

India crossed 20 crore demat accounts. The majority are first-time investors who need guidance, not just execution.

SEBI AI Guidelines

2025 Responsible AI Guidelines mandate transparent, explainable AI — creating a moat for compliance-first teams.

Pricing Gap

Current advisory is either premium (₹25K+/year) or free-but-noisy (Telegram tips). Finverse fills the credible middle.

Positioning

Two-Surface Model

Finverse operates on two surfaces simultaneously — exactly like how Smallcase runs as a product AND powers features inside Zerodha/Groww via Gateway APIs.

Surface 1 — Own App & Website

Full advisory experience: stock recommendations, algo baskets, portfolio health, news signals, investor education. Direct B2C monetization via ₹299/mo subscription.

Surface 2 — Brokerage API Layer

Power features inside the partner brokerage app: embedded recos, screener widgets, alert engines, basket order flows. B2B2C monetization via API revenue share.

Real-World Precedent — Smallcase Gateway

Smallcase Gateway enables equity investments natively on partner platforms via SDKs and APIs.

  • Reach: 15+ brokers integrated (Zerodha, Groww, HDFC, ICICI).
  • Scale: 10M+ cumulative accounts.
  • Finverse analogue: an "Advisory Gateway" — partner brokerage apps call Finverse APIs for recommendations, signals, and basket execution.
Regulatory

SEBI Compliance Setup

Registration RIA Path

Personalised investment advice with suitability gating per client.

  • Entity: Corporate RIA (SEBI IA Regulations, 2013)
  • Qualification: Graduate + NISM Series X-A & X-B
  • Experience: No longer required (2024 amendment)
  • Deposit: ₹1L (≤150 clients) → ₹10L (1000+)
  • Fee cap: 2.5% AUA/yr OR ₹1,51,000 fixed/family/yr

Registration RA Path

Research reports & recommendations to a subscriber base — no per-client suitability.

  • Entity: Individual or Corporate RA (SEBI RA Regulations, 2014)
  • Qualification: Graduate + NISM Series XV (Research Analyst)
  • Experience: No longer required (2024 amendment)
  • Net worth: ₹1L (individual) / ₹25L (body corporate)
  • Scope: Publish research; pair with RIA to cover both surfaces.

AI Disclosure Requirements

  • Mandatory AI tool usage disclosure at onboarding
  • MITC compliance effective since Feb 2025
  • Audit trail for every AI recommendation
  • Static IP mandatory for API trading (Apr 2026)
  • Risk profiling before any recommendation
Precedent — Jarvis Invest

Jarvis (SEBI RIA) shows an AI confidence score per recommendation and discloses its AI engine on onboarding — a model Finverse adopts from day one.