Onboarding & KYC Guide for Analysts

InsightPier Desk Published · Updated
Illustration of a research analyst completing client KYC and onboarding steps

Compliance and KYC often take up more of your day than actual research.
This short guide walks you through client onboarding the SEBI‑compliant way, from pre‑checks to final activation. By the end, you'll have a simple flow to onboard clients faster, stay audit‑ready, and focus more on insights than paperwork.

Step 1: Pre-Engagement

  • Confirm client type: Individual / HUF / Entity (Company, LLP, Trust, Partnership, NRI).
  • Confirm whether services are Paid (KYC required) or Free (KYC not mandatory).
  • Check if the client already has a CKYC/KRA record (request CKYC ID if available).

Step 2: MITC Consent

  • Provide client with SEBI-mandated Most Important Terms & Conditions (MITC) along with your Terms & Conditions.
  • Obtain consent before providing any paid services. Accepted modes: Aadhaar e-sign, DigiLocker e-sign, Email acceptance, Online portal acceptance, or Signed form (scanned & uploaded).
  • Store proof of consent with date and reference ID.

Step 3: Collect Documents

For Individuals

  • PAN (mandatory)
  • Proof of Identity & Address (Passport / Driving Licence / Aadhaar / Voter ID)
  • Photograph (passport size or live digital photo)
  • Bank proof (cancelled cheque / bank statement / penny-drop verification)
  • CKYC ID (if available)
  • Contact details: mobile and email

For Entities

  • Certificate of Incorporation / Registration
  • PAN of entity
  • MoA & AoA / Partnership deed / Trust deed
  • Board resolution / authorization letter
  • KYC of authorised signatory (ID, address proof, PAN)
  • Details and KYC of beneficial owners (UBO)
  • Proof of entity's bank account

Step 4: Verify KYC

  • Verify PAN via KRA / CKYC / IT database.
  • Verify address using OVD or CKYC record.
  • Verify bank account via penny-drop or supporting document.
  • Archive any third-party KYC certificate if used.
  • For digital KYC, store metadata (time, IP, device, V-CIP details if applicable).
  • Preserve records of all client interactions (emails, calls, SMS, in-person) from first contact until service completion; retain for at least five years or until resolution of any dispute.

Step 5: Activate Services

  • Ensure MITC consent obtained.
  • Ensure KYC verification successful.
  • Ensure payment received (only through cheque, bank transfer, UPI, or SEBI's centralized fee collection mechanism CeFCoM; no cash).
  • Record activation date and client ID.

Note: For individual and HUF clients, SEBI caps total fees at ₹1.51 lakh per annum per family. This limit does not apply to non-individual clients.

Quick Must-Have Check (Before Proceeding)

Use this short list to avoid missing any compliance step:

  • MITC consent documented
  • PAN copy collected
  • Valid ID & address proof collected
  • Bank proof verified
  • Photograph captured
  • UBO details (for entities)
  • Contact details confirmed
  • KYC verification completed
  • Client interaction records preserved
Here's a small step towards making compliance effortless for you.

One platform unifying compliance, audits, and user management!
For more information, feel free to contact InsightPier support.

Disclaimer: This guide is for informational purposes only. Please refer to official SEBI regulations and circulars for the most up-to-date and binding requirements.