Sharan Hegde's 1% Club becomes first finfluencer-led company to get SEBI RIA license

The 1% Club, a financial advisory startup founded by internet personality Sharan Hegde, has become the first finfluencer-led company in India to secure a Registered Investment Adviser (RIA) license from the Securities and Exchange Board of India (SEBI).

The milestone follows a six-month review process that involved top compliance and legal experts, paving the way for the startup to offer personalised one-on-one financial planning services to its members, leveraging transparency, trust, and regulatory compliance.

Finfluencer-led success

Hegde, who has gained popularity on social media by simplifying personal finance, says this is the first time a fintech platform associated with an influencer has received the SEBI RIA license.

He believes it signals a shift in wealth management, where trusted voices online can evolve into regulated service providers. Calling it “just the beginning,” Hegde says the 1% Club aims to launch additional SEBI-approved offerings, including stock recommendations and high-yield debt solutions.

Filling a critical gap in the market

The startup plans to focus on India’s vast middle-class segment, which is often underserved when it comes to professional financial advice. 

According to the SEBI chairman, the country needs one million financial planners but currently has only about 1,300 certified professionals.

Hegde says the 1% Club hopes to capture 5–10% of this market over the next decade and make expert financial guidance accessible nationwide.

Personal CFO division

Under the newly registered license, the 1% Club’s Personal CFO division will provide one-on-one financial advice, including portfolio reviews, goal planning, and risk management.

Co-founder Raghav Gupta says this expansion allows the firm to act in the best interest of investors, with strict regulatory oversight ensuring transparency and trust.

"Getting the SEBI RIA license strengthens our commitment to act in the best interest of investors. It's a big step towards making financial planning impactful and accessible for India's middle class," Gupta said.

The division claims to have a 40-member advisory team overseeing Rs 750 crore in assets under advisory, and it plans to increase its presence across major Indian cities.

Future products and partnerships

Beyond personalized consulting, the 1% Club expects to roll out more SEBI-regulated products, such as thematic portfolios, stock-based services, and debt instruments.

Hegde says the company is open to forming partnerships with established players in wealth management to broaden the range of financial solutions available to its members. 

"We are committed to building trust, credibility, and a legacy for India's middle class. This is just the beginning; our vision includes acquiring more SEBI licenses to offer robust investment products, such as stock recommendations and high-yielding debt solutions," Hegde added.

In October 2023, 1% Club raised Rs 10 crore in funding from billionaire Zerodha co-founder Nikhil Kamath's Gruhas and Abhijeet Pai from the Puzzolana Group.