Investing your hard-earned money always requires trust and confidence, especially when you are taking advice from a SEBI-registered investment advisor (RIA).
That is why knowing how to file a complaint against a SEBI-registered investment advisor becomes crucial when things don’t go as expected.
If an advisor provides misleading or incorrect information, makes false promises, overcharges fees, or violates SEBI regulations, you have every right to raise a formal complaint.
The Securities and Exchange Board of India (SEBI) has put in place a structured and investor-friendly framework that allows individuals to file a complaint against SEBI-registered investment advisors in a transparent, secure, and hassle-free manner, ensuring investor interests are protected without unnecessary stress.
When To File A Complaint Against SEBI- Registered Investment Advisor?
You may file a complaint against SEBI-registered investment advisor if he has done the following.
Have a look at the pointers below:
- The advisor offered you guaranteed or fixed returns.
- Charge more money
- Manipulate for account handling or profit sharing.
- Provide poor or misleading investment advice.
- Does not share appropriate agreement or disclosure.
- Not responding to your inquiries.
How to File a Complaint Against RIA?
The most convenient and the right approach to make a complaint is through SCORES, SEBI’s online grievance redressal system. Yes, you heard it right.
Below, we have mentioned the step-by-step guide on how to file a complaint:
- Firstly, lodge a complaint in SCORES.
- Register yourself using your details like email address and mobile number.
- Log in there and pick the category “Investment Advisor”.
- Enter the advisor details (name, registration number, etc).
- Explain your concern in simple terms that everything you are facing.
- Upload the accompanying documents that you own for proof (agreement, messages, payment evidence, or any other documents, if there are any).
- Submit your complaint.
After submitting your complaint, you will be given a complaint reference number that you may use to track its progress and its reached.
Need Help?
If you have lost money due to misleading advice, false promises, undisclosed risks, or regulatory violations by a SEBI-registered investment advisor, you are not alone, and you are not without options.
SEBI provides a formal grievance redressal mechanism that allows investors to file a complaint against a SEBI-registered investment advisor and seek resolution.
Before filing the complaint, make sure you have basic details ready, such as the advisor’s registration number, communication records, payment receipts, and a clear explanation of the issue.
You can register with us for support and guidance to ensure your complaint is submitted correctly and efficiently.
Your complaint is reviewed through SEBI’s SCORES platform, helping ensure accountability and investor protection.
Taking timely action not only increases your chances of resolution but also helps prevent similar issues for other investors.
Conclusion
Overall, we can conclude that filing a complaint against SEBI-registered investment advisor is a legal right of investors.
Always keep records of correspondence and payments to back up your case.
Remember, SEBI exists to protect investors always if there is any issue, so don’t be afraid to speak up if something feels wrong by your side.
