PRIM, distributors, advisers and PMS compared
Four ways to get help with your investments. The right one depends on how much you invest and how much you want to decide yourself.
| Feature | PRIM | Mutual fund distributor | Investment adviser (RIA) | Regular PMS |
|---|---|---|---|---|
| Who manages the money | SEBI-registered portfolio manager, with your consent to act | You decide; the distributor suggests and executes | You decide and act on the adviser's advice | SEBI-registered portfolio manager |
| What it holds | Mutual funds, ETFs, index funds and SIFs only | Mutual funds | Whatever the advice covers | Stocks, bonds, mutual funds and more, within SEBI limits |
| Plan type | Direct plans only | Regular plans | Direct plans | Direct plans for any mutual fund units |
| Minimum | ₹25 lakh | Scheme minimum | None set by SEBI | ₹50 lakh (accredited investors exempt) |
| How they are paid | Your fee: fixed up to 1% a year, plus any performance fee | Commission from the fund house, built into the regular plan | Your fee, within SEBI's limits for advisers | Your fee: fixed and/or performance |
| Portfolio-level reporting | Yes, as one managed portfolio | Usually a consolidated statement | Depends on the adviser | Yes |
| Registration | Portfolio manager registration (PRIM-only: ₹2 crore net worth) | AMFI registration (ARN) | SEBI investment adviser registration | Portfolio manager registration (₹5 crore net worth) |
PRIM details are from the SEBI (Portfolio Managers) Regulations, 2026, effective 1 April 2027. Operating details are still due from SEBI. Fee limits for advisers and distributor commissions vary; check the current SEBI and AMFI rules.
PRIMSetu એક સ્વતંત્ર માહિતી સેવા છે. તેનો SEBI સાથે કોઈ સંબંધ નથી, અને તે રોકાણ સલાહ આપતી નથી કે કોઈ સ્કીમ કે પોર્ટફોલિયો મેનેજરની ભલામણ કરતી નથી.