In a major update aimed at expanding India’s regulated financial advisory ecosystem, SEBI has officially eased the educational criteria for Investment Advisors (IA) and Research Analysts (RA) effective from 25th November 2025. This change is expected to bring a significant shift in who can enter the financial advisory space, making it far more accessible for graduates across various disciplines.

Earlier, becoming a SEBI-registered IA or RA required specific finance-related degrees — a barrier that kept thousands of capable aspirants out. With the new reforms, graduates from ANY discipline can now apply, provided they complete mandatory certifications and meet regulatory requirements.

As a result, the advisory ecosystem is about to see more diversity, more talent, and more opportunities.

And for aspirants who want to take advantage of this change, we at TaxationConsultancy are already helping individuals navigate the registration process — from documentation to certification guidance — ensuring smoother, faster approvals.

The Indian investor landscape has transformed rapidly.

• Millions of young investors entered the market during 2020–2025.
  
• The rise of fintech apps increased awareness and accessibility.
  
• But the number of SEBI registered advisors remained surprisingly low.
  

For example, India had fewer than 1,000 active Investment Advisors, despite having more than 10 crore demat accounts.

SEBI realized that the strict eligibility norms — especially the requirement of specific finance backgrounds — were holding back a large pool of talent.

Thus, the 2026 reform was born.

Previously, SEBI required:

• A graduate or post-graduate degree in
  
  • Finance
    
  • Commerce
    
  • Economics
    
  • Accounting
    
  • Business management
    
  • Capital markets
    
• AND mandatory NISM certifications.
  

• Similar finance-focused degrees OR
  
• 5 years of relevant experience.

This created a barrier for graduates of engineering, arts, science, law, hospitality, agriculture, and similar fields.

Even talented market enthusiasts had no official pathway into SEBI-regulated roles — unless they pursued additional degrees.

As part of the new 2026 regulations:

👉 ANY graduate (in any discipline) is now eligible to apply to become an IA or RA.

Whether you studied:

• B.A.
  
• B.Sc.
  
• B.Tech / B.E.
  
• BBA / BCA
  
• LLB
  
• Fine arts
  
• Agriculture
  
• Hospitality
  
• Psychology
  
• ANY field…
  

You will now be considered eligible.

This single change increases India’s IA/RA talent pool by millions.

The updated criteria are straightforward and inclusive:

No discipline restrictions.

No minimum marks requirement.

International graduates can also apply.

A candidate holding the global CFA qualification automatically becomes eligible.

This ensures that even non-finance graduates have standardized knowledge.

This reform benefits:

Engineering, arts, science, IT — all now eligible.

Many IT employees or corporate professionals want to enter finance — now they can.

People who have learned through YouTube, courses, books, or experience.

Where finance-focused degrees may not be easily available.

Anyone wanting to start an advisory practice will now find the path easier.

Here’s the biggest advantage:

Skill matters more than degree now.

If you are good with:

• Market analysis
  
• Understanding stocks
  
• Evaluating companies
  
• Financial planning
  
• Risk management
  

…you can pursue IA/RA registration irrespective of your academic background.

Earlier, a talented engineer who understood markets better than many commerce graduates was still not eligible.

Now they are.

Investment Advisors (IAs) guide clients on:

• Financial planning
  
• Wealth management
  
• Portfolio construction
  
• Risk assessment
  

With the new rules:

• There will be more registered advisors.
  
• Clients will have more choices.
  
• Advisory services will become more affordable.
  
• Regional growth will multiply—especially in small towns.
  

Advisory will no longer be a “finance-only club.”

Research Analysts prepare:

• Stock research reports
  
• Earnings analysis
  
• Sectoral studies
  
• Investment recommendations
  

Now:

• Math graduates can become analysts.
  
• Engineers can use analytical skills for equity research.
  
• Arts graduates with good writing skills can excel in report creation.
  

Expect a significantly larger and more diverse research ecosystem.

Relaxed education does NOT mean no certifications.

To ensure professionalism, SEBI still requires:

This maintains quality and protects investors.

Non-finance graduates will be required to learn core market concepts — that’s where smart preparation matters.

Here’s a simple, actionable roadmap:

Any discipline still qualifies.

Choose IA or RA track.

• Aadhaar
  
• PAN
  
• Graduation proof
  
• Passport photo
  
• Address proof
  

SEBI clearly wants to:

• Bring more people into regulated advisory roles
  
• Reduce dependence on unregistered "influencers"
  
• Give investors safer, professional guidance
  
• Expand financial inclusion in rural and semi-urban India
  
• Encourage young talent to enter capital markets

This decision aligns with India’s goal of becoming one of the world’s most robust capital markets by 2030.

Expect these upcoming trends:

Especially in Tier-2 and Tier-3 cities.

More professional guidance available.

As more analysts join the market, companies will get deeper coverage.

• Retirement planning
  
• Tax-efficient investing
  
• Small-cap advisory
  
• NRI advisory
  
• Robo-advisory models

The future looks bright for anyone entering the advisory profession now.

At TaxationConsultancy, we’ve helped thousands of professionals get clarity, confidence, and compliance in regulatory registrations.

And with the new SEBI 2026 guidelines, our support becomes even more valuable.

We evaluate your background to confirm compliance.

We help you choose the right exam, preparation strategy, and timeline.

We prepare and structure documents exactly as SEBI expects.

No confusion. No rejection due to errors.

We help you meet post-registration obligations too.

Whether you're a fresh graduate, career-shifter, or market enthusiast, we simplify the entire IA/RA registration journey.

Many applications get rejected due to minor errors.

IA and RA certifications are different.

Defaults, legal issues, or missing information can block approval.

Mixing advisory and distribution can cause licensing issues.

SEBI’s decision to ease educational criteria for Investment Advisors and SEBI Registered Research Analysts from 2026 marks a transformational moment for the financial industry.

The advisory profession is now open to:

• Engineers
  
• Arts graduates
  
• Science students
  
• IT professionals
  
• Corporate employees
  
• Fresh graduates
  
• Market enthusiasts

It’s the most inclusive the industry has ever been.

At TaxationConsultancy, we are committed to helping aspiring advisors turn this opportunity into a successful, compliant career path.

SEBI now accepts graduates from ANY discipline for IA/RA registration starting 2026.

Yes. NISM certifications remain mandatory for both IAs and RAs.

Yes. Any graduate—engineering, arts, science, etc.—is now eligible.

Yes, but it will also expand opportunities due to rising investor demand.

Yes. We provide complete guidance—from SEBI Registration,Post Registration Compliances and SEBI Legal Support for Registered and Unregistered Advisory.