Why SEBI Research Analysts Should Stop Chasing Freelance Developers
"Bhai, can you update the complaints table?" If you have sent that message more than twice, this post is for you.
Short answer: a Research Analyst website is ongoing compliance work, not a one-off design job. Freelance arrangements are built for the launch, then the updates stall, client data lands in the wrong place, and you end up chasing someone for changes SEBI holds you responsible for.
The pattern every RA knows
You pay ₹15,000 to ₹40,000 for a site. It looks good at launch. Then the requests start: a fee change, a new disclosure, the monthly complaints numbers, a broken form. Each one is a message, a wait and a follow-up. The developer is not careless. They were hired to build a website, and you need someone to run one.
What an RA website has to keep doing
| Task | How often | If it slips |
|---|---|---|
| Complaints data table | Every month | A stale table is one of the easiest gaps for an inspector to spot |
| Investor charter and grievance details | Whenever SEBI revises them | Your site shows rules that no longer apply |
| Fees, plans and refund terms | Every time you change a plan | The website and your client agreement disagree |
| Registration number and disclaimer on every page | Every new page or landing page | A campaign page goes live without them |
| Promotional copy review | Every new banner, post or page | Testimonials or return claims slip in |
| Security updates, SSL, backups | Monthly, and on every plugin alert | Downtime, a defaced site, or leaked enquiry data |
None of this is design work. It is record-keeping that happens to be published on a website.
Five ways the freelancer model breaks
1. Disclosures go stale
The site launches with everything correct. Six months later the complaints table is three months old, because updating it means another WhatsApp to a developer who is busy with a new client. Multiply that by every rule change and every fee change.
2. Client data ends up in the wrong place
Freelance sites often collect PAN, Aadhaar and bank details through a generic form plugin that emails them around or stores them in a database nobody audits. That is client data you are accountable for, sitting outside your records.
3. The ad code is not their job
A developer optimising for conversions will suggest a Google reviews widget, a "92% accuracy" banner or a countdown timer, because that is what works for other clients. Each of those is a problem for a Research Analyst.
4. You do not own your own website
Domain bought on the developer’s card, hosting in their account, admin password only they know. It works until the relationship ends, and then getting your own site back becomes a negotiation.
5. Nobody is on call
An outdated plugin takes the site down on a results day, or the SSL certificate expires and browsers warn investors away. A freelancer may fix it in a day or a week. Your clients and prospects notice either way.
If you hire a freelancer anyway
Plenty of RAs will, and a good developer is worth having. Get these in place before the first payment:
- Domain, hosting, admin login and backups in your firm’s name and account
- A written agreement covering scope, confidentiality and return of all files and data, as with any outsourced function
- A list of every compliance page, who updates each one, and by when
- A monthly retainer for updates, not only a one-time build fee
- No KYC documents collected through the website unless it is built to hold them safely
- Your sign-off on every promotional change before it goes live
Remember: outsourcing the work does not outsource the responsibility. Whoever edits the site, you answer for what it says.
The alternative: the website lives with your records
The disclosures on your website come from the same place as your compliance records: your complaints register, your fee plans, your client agreements. Keeping the website next to that system means fewer copies to keep in sync and no one to chase.
That is why the Aktai Firm plan includes a firm website designed and hosted by Aktai, with client onboarding embedded on it, so KYC goes into the onboarding flow and not into a form plugin. Your portal already generates the monthly complaints table, and promotional copy can go through the ad pre-check, with your approve or reject decision on record.
Want the site to be found as well as kept up to date? The Search & AI Visibility add-on adds technical SEO, articles you approve and a monthly report on where AI assistants name your firm.
Questions RAs ask
Is it wrong for a Research Analyst to hire a freelance developer?
No. A good freelancer can build a good site. The problem is what comes after: monthly disclosure updates, fee changes, security patches and ad-code care for as long as you hold your registration. Most freelance arrangements are priced and staffed for the build, not for five years of upkeep.
Who is responsible if my website shows outdated disclosures?
You are. SEBI holds the registered Research Analyst responsible for what the website says, whoever built it. A developer who did not update the complaints table on time is your problem, not theirs.
Should client KYC documents go through my website?
Only through a system built to hold them, with access control and a record of who saw what. A contact form that emails PAN and Aadhaar copies to a shared inbox, or saves them in a plugin table, is a data protection risk under the DPDP Act.
What should I own if a freelancer builds my site?
The domain, the hosting account, the code or CMS admin login, and the backups, all in your name or your firm’s name. If any of these sit in the developer’s personal account, you do not fully control your own website.
General guidance for SEBI-registered Research Analysts in India, not legal advice. Check current SEBI circulars for exact disclosure requirements and timelines.