How to open & operate a Portfolio Management Services (PMS)?

General
1

I am a software engineer, investor & trader and want to open a PMS.

Opening & operating a PMS is challenging, particularly with regard to compliance with SEBI guidelines. To ensure that everything is done correctly, I am considering hiring a full-time employee or a firm to assist me with the legal and operational aspects of running a PMS.

Can anyone provide guidance on how to start and operate a PMS? I am uncertain of where to begin my search for the right individual or firm to help me, and I would greatly appreciate any advice on how to find the appropriate support. My budget allows for an industry-standard salary for a full-time employee or firm.

Thank you in advance for your assistance.

2

AFAIK you have to be SEBI registered for that, are you SEBI registered?

3

No, I need help with that.

Yeah sure, I can read the rules, guidelines, etc, and do everything myself. But it will be very hectic. It is not my expertise, I need to start from scratch. It would be very helpful if I could receive assistance from an external source, but I am not sure how to find it. Who do I contact?

4

So you want to be a SEBI registered research analyst?

5

No. I want to manage other people’s equity market portfolios.

6

I am not sure if you can do that without SEBI registration. You have to have some kind of registration in order to do that. And I think that is a research analyst registration.

7

https://www.sebi.gov.in/sebi_data/docfiles/20625_t.html#:~:text=The%20portfolio%20manager%20is%20required%20to%20pay%20Rs.,as%20renewal%20fees%20to%20SEBI.

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8

As per my knowledge, the fees around 10 lakh & 5 lakh for lic renew, also 2 crore amount (don’t remember either it is deposit or asset only).
For details pls check link shared by @AlgoEye.
My personal opinion (I know you haven’t asked it) about PMS service, is low profit business. If you have good trading & investing strategy & fund above 2 crore, then its better to start on self account. because with sufficient fund you can earn more profit than 1%-3% management fee & setup cost. In india, peoples are not comfortable to pay charges or share their profits with experts. And their are already many players in market like RARE ENT, Helios capital, porinju veliyath, Moneylife & many full service brokers.

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