RIA Software in India: A Buyer’s Guide (2026)
Short answer
Eight questions to ask before you buy
| Question | A good answer | A warning sign |
|---|---|---|
| Does it block advice? | Advice cannot be sent without a current profile, a suitable finding and a signed agreement | A reminder or a red badge you can ignore |
| Suitability per recommendation | A finding linked to each piece of advice and the profile it used | One suitability form per client, filed once |
| Agreement versions | Tracks which version each client signed; asks again on a new one | A PDF upload with no version history |
| Fee limits per family | Groups clients into families and rejects plans over the limit | Per-client fee fields with no family view |
| AUA you can defend | Computed from holdings at market value, with what was left out | A number typed in by hand |
| Tamper-evident records | A chained log, five years, exportable for inspection | Editable records with no history |
| Delivery under your name | WhatsApp and email from your firm, each send logged | Personal WhatsApp and screenshots |
| Built for India | INA numbers, SEBI fee limits, SCORES, Aadhaar eSign | A US or generic CRM adapted by hand |
Ask for the failure, not the demo
Every demo shows a compliant client. Ask the vendor to show a client whose risk profile expired yesterday and try to send them advice. If the software sends it, it is a record system, not a compliance system. Then ask to add a third fee plan to a family already near ₹1,51,000, and to publish a new agreement version and see what happens to the next send.
Watch for the RA and distribution blur
Software built for Research Analysts is designed to broadcast one recommendation to many subscribers and to show a public track record. Neither fits personalised advice. Software built for distribution is designed around transactions and commissions. An Investment Adviser needs per-client suitability, private advice and fiduciary records. If a tool serves several of these markets, check that the IA mode actually switches the RA and distribution features off.
Where Aktai fits
Aktai for Investment Advisers runs the advice gate on every send, keeps suitability records with a coverage report, versions the advisory agreement with Aadhaar eSign through your Leegality account, checks every fee plan per family and keeps a SHA-256 chained five-year trail. Recommendations stay private to the client: the public track record is switched off for IA accounts. It is built for India only. See the IA product or the options compared.
Frequently asked questions
What is the most important feature in RIA software?
An advice gate: the software refuses to send advice unless the client has a current risk profile, a suitable finding against it and a signed copy of the current agreement. Everything else is record-keeping; the gate is what prevents the breach.
Can a mutual fund distribution CRM work for an Investment Adviser?
Partly. Distribution CRMs are strong on portfolio reports and transactions but are usually built around commissions, not fiduciary advice. Check for per-recommendation suitability, agreement versions and per-family fee limits before relying on one for IA compliance, and keep advice and distribution segregated.
How much does Investment Adviser software cost in India?
It ranges from free spreadsheets to enterprise wealth platforms. Aktai’s Investment Adviser plans are the same as its Research Analyst plans, with most advisers on Professional; current prices are on aktai.app/pricing.
Does RIA software make me compliant?
No software makes an adviser compliant; the obligations stay with the registered Investment Adviser. Good software makes the compliant path the only path, and keeps the record that shows it.
Related reading
General information, not legal or compliance advice. SEBI rules change: check the current SEBI Investment Advisers Regulations, the Master Circular for Investment Advisers and recent circulars, and confirm your own position with your compliance officer.