Investor Charter in respect of Investment Adviser (IA)
A. Vision and Mission Statements for Investors
Invest with knowledge & safety.
Every investor should be able to invest in the right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.
B. Details of business transacted by the Investment Adviser with respect to the investors.
- To enter into an agreement with the client providing all details including fee details, aspect of Conflict of interest disclosure and maintaining confidentiality of information.
- To do a proper and unbiased risk–profiling and suitability assessment of the client.
- To obtain registration with Know Your Client Registration Agency (KRA) and Central Know Your Customer Registry (CKYC).
- To conduct audit annually.
- To disclose the status of complaints in its website.
- To disclose the name, proprietor name, type of registration, registration number, validity, complete address with telephone numbers and associated SEBI regional/local Office details in its website.
- To employ only qualified and certified employees.
- To deal with clients only from an official number
- To maintain records of interactions, with all clients including prospective clients (prior to onboarding), where any conversation related to advice has taken place.
C. Details of services provided to investors (No Indicative Timelines)
- Onboarding of Clients
- Sharing of agreement copy
- Completing KYC of clients
- Disclosure to Clients
- To provide full disclosure about its business, affiliations, compensation in the agreement.
- To not access client’s accounts or holdings for offering advice.
- To disclose the risk profile to the client.
- To provide investment advice to the client based on the risk-profiling of the clients and suitability of the client.
D. Details of grievance redressal mechanism and how to access it
- In case of any grievance/complaint, an investor should approach the concerned Investment Adviser and shall ensure that the grievance is resolved within 30 days.
- If the investor’s complaint is not redressed satisfactorily, one may lodge a complaint with SEBI on SEBI’s ‘SCORES’ portal which is a centralized web-based complaints redressal system. SEBI takes up the complaints registered via SCORES with the concerned intermediary for timely redressal. SCORES facilitates tracking the status of the complaint.
- With regard to physical complaints, investors may send their complaints to: Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (E),Mumbai – 400 051.
E. Expectations from the investors (Responsibilities of investors)
- Always deal with SEBI-registered Investment Advisers.
- Ensure that the Investment Adviser has a valid registration certificate.
- Check for the SEBI registration number.
Please refer to the list of all SEBI registered Investment Advisers which is available on the SEBI website at the following link: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13)
- Pay only advisory fees to your Investment Adviser. Make payments of advisory fees through banking channels only and maintain duly signed receipts mentioning the details of your payments.
- Always ask for your risk profiling before accepting investment advice. Insist that the Investment Advisor provides advisory strictly on the basis of your risk profiling and take into account available investment alternatives.
- Ask all relevant questions and clear your doubts with your Investment Adviser before acting on advice.
- Assess the risk–return profile of the investment as well as the liquidity and safety aspects before making investments.
- Insist on getting the terms and conditions in writing duly signed and stamped. Read these terms and conditions carefully, particularly regarding advisory fees, advisory plans, category of recommendations etc. before dealing with any Investment Adviser.
- Be vigilant in your transactions.
- Approach the appropriate authorities for redressal of your doubts/grievances.
- Inform SEBI about Investment Advisers offering assured or guaranteed returns.
- Don’t fall for stock tips offered under the pretext of investment advice.
- Do not provide funds for investment to the Investment Adviser.
- Don’t fall for the promise of indicative or exorbitant or assured returns by the Investment Advisers. Don’t let greed overcome rational investment decisions.
- Don’t fall prey to luring advertisements or market rumors.
- Avoid doing transactions only on the basis of phone calls or messages from any Investment adviser or its representatives.
- Don’t take decisions just because of repeated messages and calls by Investment Advisers.
- Do not fall prey to limited period discount or other incentive, gifts, etc. offered by Investment advisers.
- Don’t rush into making investments that do not match your risk taking appetite and investment goals.
- Do not share login credential and password of your trading and demat accounts with the Investment Adviser.
Monthly Disclosures of Investors Complaints
Data for the month ending November 2023:
|Received from||Pending at the end of last month||Received||Resolved
|Pending complaints >
|Average Resolution time ^ (in days)|
|1||Directly from Investors||NA||Nil||NA||NA||NA||NA|
|3||Other Sources(if any)||NA||Nil||NA||NA||NA||NA|
^Average Resolution time is the sum total of time taken to resolve each complaint in days, in the current month divided by total number of complaints resolved in the current month.
Trend of monthly disposal of complaints
|Month||Carried forward from previous month||Received||Resolved*||Pending#|
*Inclusive of complaints of previous months resolved in the current month.
#Inclusive of complaints pending on the last day of the month.
Trend of annual disposal of complaints
|SN||Year||Carried forward from previous year||Received||Resolved*||Pending#|
*Inclusive of complaints of previous years resolved in the current year.
#Inclusive of complaints pending as of the last day of the year.
*Disclosures with respect to compliance with the Annual compliance audit requirement under Regulation 19(3) of the SECURITIES AND EXCHANGE BOARD OF INDIA (INVESTMENT ADVISERS) REGULATIONS, 2013 for the last and current financial year are as under:
|Sr. No||Financial Year||Compliance Audit Status||Remarks, If Any|
Grievance redressal mechanism established by the IA, in accordance with the SEBI Circulars and processes of IA:
- In case of any grievance/complaint against me/us, You shall contact the IA:
Name: Indresh Malik
C-58, 1st Floor, Palam Vyapaar Kendra,
Palam Vihar, Gurugram – 122 017,
Contact number: +91 9811974722
Email address: [email protected]
- In case, You are not satisfied with my / our response, You can lodge your grievances with SEBI at the website for SEBI Complaints Redress System (SCORES) http://scores.gov.in You may also write to any of the offices of SEBI. For any queries, feedback, or assistance, please contact SEBI Office on Toll-Free Helpline at 1800 22 7575 / 1800 266 7575.
- You may also note the following SEBI regional/local office address:
Address: SCO 127-128, First Floor, Sector 17C, Chandigarh – 160017, Chandigarh
Tel. Board: +91-172-2541717
E-mail: [email protected]
- ODR Portal could be accessed, if unsatisfied with the above responses. Your attention is drawn to the SEBI circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023, on “Online Resolution of Disputes in the Indian Securities Market”. A common Online Dispute Resolution Portal (“ODR Portal”) which harnesses conciliation and online arbitration for resolution of disputes arising in the Indian Securities Market has been established. ODR Portal can be accessed via the following link – https://smartodr.in/