The best SEBI RA software is the one that keeps you compliant under the RA Regulations, lets your clients act on your research through their own broker, and puts your brand in front of them, not the platform's. Use this checklist to test any platform, then read a fair comparison of smallcase, WealthDesk, AlphaMarket, Cirrus and AlphaQuark. Competitor details are from public pages and dated press coverage, checked 24 October 2026.
Check five things: SEBI compliance built into the workflow (RA Regulations, onboarding order of KYC then MITC consent then payment, model-portfolio rules, fee rules, five-year record keeping); broker integrations (which brokers, basket and rebalance orders, sell authorisation); a white-label app in your own brand; what your client can do in one place; and the pricing model at 100 and at 1,000 clients.
Any SEBI-registered RA or RIA can publish portfolios as smallcases, with a customisable branded website, risk profiling, GST invoices, flat or AuA-based fees and single-click execution across 10 listed brokers. Best for RAs who want fast setup and the reach of a brand investors already know.
WealthBaskets are stock and ETF baskets created by SEBI-registered advisers and analysts, distributed through broker partners. PhonePe acquired WealthDesk in 2022; in 2022 it said it worked with more than 35 brokers. Best for RAs whose priority is visibility inside large broker apps.
AlphaMarket describes itself as an advisory infrastructure layer that brokers such as Upstox integrate, with eKYC, e-sign, risk profiling and multi-channel delivery. Best for RAs who want to be distributed inside a partner broker's app.
Cirrus is a multi-account execution tool for traders across 13 listed brokers and an NSE and BSE empanelled algo vendor. It is not an RA subscription, onboarding or billing platform.
AlphaQuark gives SEBI RAs their own branded app on web and mobile. Clients receive recommendations with rationale, follow model portfolios, act through their own broker across 14 brokers, review and accept rebalances calculated from their own holdings, and see their orders, payments and subscriptions. Onboarding with KYC, MITC and e-sign before payment, payments, delivery and a dated record of every recommendation sit behind it. Plans: INR 99K onboarding or INR 3L white-label app setup.
The best SEBI RA software is the one that enforces RA compliance, works with your clients' existing brokers and shows clients your brand, not the platform's. Test any option against five points: compliance records, broker coverage, a white-label app, what clients can do in one place, and the total cost at 1,000 clients.
Yes. Publishing research or model portfolios to clients in India requires your own SEBI registration as a Research Analyst or Investment Adviser. Platforms such as smallcase, WealthDesk and AlphaQuark provide technology; they do not replace the licence.
A white-label app is a mobile and web app that carries the RA's own name, logo and colours while the technology runs underneath. Clients download and use the RA's app, so the relationship and the brand stay with the RA.
Yes, on platforms with multi-broker integration, clients connect a broker account they already hold and place orders from the platform. AlphaQuark supports 14 brokers, including Zerodha, Angel One, Upstox, Groww, Dhan, Fyers, ICICI Direct and Kotak.
If you want your own branded app rather than a publisher page inside the smallcase ecosystem, a white-label platform such as AlphaQuark is the main alternative. If reach inside broker apps matters most, WealthDesk and AlphaMarket are the other options.
SEBI requires research analysts to keep records of research reports with their rationale and of client interactions for five years. Good software logs each recommendation with a date and rationale automatically, along with KYC, consent and payment records.
Pricing models vary: fixed setup fees, per-account fees, a share of subscription revenue or a percentage of client assets. AlphaQuark costs INR 99K for onboarding to the AlphaQuark app or INR 3L for a white-labelled app setup, plus the applicable recurring revenue share.
A branded app lets an RA deliver a premium service: clients receive research, act on it through their own broker, rebalance and see their records in one place under the RA's name. That experience is harder to get from a Telegram channel, and it gives clients a clear reason to renew.