Sharan Hegde’s financial education platform, The 1% Club, has recently received a special license from the Securities and Exchange Board of India (SEBI). This license allows them to give investment advice and help people with their financial planning. With this approval, The 1% Club is now one of the first platforms run by “finfluencers” to get SEBI’s Registered Investment Advisor (RIA) license.
In an Instagram post, Sharan shared the exciting news, saying, “We are officially SEBI-registered as an RIA! This important license allows us to manage more than ₹750 Crore in investments!” He has been teaching people about financial planning for the last four years and has reached over 5 lakh students through live sessions. Now, with SEBI’s approval, he feels it’s time to put his knowledge into practice and manage people’s money with his team of over 45 experts.
Sharan highlighted a big problem in India. The SEBI chairman mentioned that India needs 1 million RIAs to help everyone with their financial needs, but currently, there are only about 1,300. He compared this to having only one doctor for every 10 lakh people, saying it shows that India needs many more qualified financial advisors. He believes that having so few advisors is like a national emergency when it comes to managing people’s hard-earned money.
According to NiftyStat, Sharan’s startup plans to expand to several Indian cities in the future and aims for more SEBI licenses.
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