Investment Portfolio Review

INVESTMENT PORTFOLIO REVIEW — REGULATORY FRAMEWORK

1. SEBI (INVESTMENT ADVISERS) REGULATIONS, 2013

A portfolio review that involves advising the client on their existing or prospective investments in securities, for a fee, falls within the scope of the SEBI (Investment Advisers) Regulations, 2013. Under these Regulations, any person providing such advice for consideration is required to be registered with SEBI as an Investment Adviser.

2. FEE-ONLY MODEL

Investment Advisers registered under these Regulations are required to charge clients directly for their advisory services on a fee-only basis, rather than earning commissions on the products held or recommended in the portfolio — a structural safeguard against conflicted advice.

3. REGISTRATION VALIDITY

SEBI's Investment Adviser registration, once granted under these Regulations, remains valid for 5 years, subject to renewal in accordance with SEBI's prescribed process.

4. OUR SCOPE

HRG's portfolio review service is delivered within this fee-only advisory framework — assessing asset allocation, concentration risk, and alignment with the client's stated goals. Since SEBI has periodically revised Investment Adviser eligibility and registration norms, clients should verify the current requirements against SEBI's official notifications at the time of engagement.

Portfolio review is the periodic examination of an investor's holdings — the mutual funds, the equities and the fixed income — against the financial goals and the risk tolerance, with the asset allocation tested, the funds and the stocks evaluated, the costs and the taxes reviewed, and the rebalancing recommended. The review answers the questions the investor should ask periodically: is the portfolio still right for the goals, is the allocation still right for the risk, and is the tax still right for the holdings.

The portfolio is a living structure, and the review is its periodic service — the allocation drifts as the markets move, the funds and the stocks change character, the goals and the risk tolerance change with the life, and the tax positions change with the law under the Income-tax Act 1961. The review is the discipline that keeps the portfolio matched to the plan.

The cost of an unreviewed portfolio is the silent drift: the allocation that moved away from the risk tolerance, the fund whose performance and the costs no longer justify the holding, the gains that were realised without the tax plan, the goals that the portfolio no longer serves. Each is a gap the periodic review would have found.

This service is for investors with portfolios to review. We review the holdings against the goals and the risk tolerance, test the asset allocation and the rebalancing needs, evaluate the funds and the stocks on the performance, the costs and the suitability, review the tax positions under the Act, and produce the review with the recommended changes — so the portfolio is re-aligned to the plan.