Jio BlackRock gets SEBI approval to operate as investment adviser

Jio BlackRock Gets SEBI Nod to Operate as Investment Adviser, Paving Way for Digital Wealth Revolution in India

Mumbai, June 11, 2025 — In a major regulatory milestone, Jio BlackRock, the joint venture between Reliance Industries' Jio Financial Services and U.S.-based asset management giant BlackRock, has received approval from the Securities and Exchange Board of India (SEBI) to operate as an investment adviser in the country. This crucial nod enables the company to offer personalized financial planning and investment advice to Indian retail and institutional investors, marking a significant step in its ambition to disrupt India’s digital wealth management space.

Strategic Milestone for Jio BlackRock

The SEBI approval comes less than a year after Jio and BlackRock announced their 50:50 partnership to democratize access to financial services in India. The joint venture is aimed at creating a next-generation digital-first asset management and advisory platform, blending Jio’s unmatched reach and digital ecosystem with BlackRock’s global investment expertise.

A senior official at Reliance, commenting on the development, said:

"SEBI’s approval is a critical step that validates our vision of bringing world-class, tech-driven financial advisory services to millions of Indians. We are building a scalable model that empowers every Indian to take charge of their financial future."

Market Context: Rising Appetite for Wealth Advisory

India’s wealth management sector is undergoing rapid transformation. With an expanding middle class, increased digital penetration, and a rising awareness about financial planning, the demand for professional investment advisory services has surged. According to a recent BCG report, India's wealth management market is expected to grow at a CAGR of 15%, reaching $1.2 trillion by 2030.

Despite this, the investment adviser penetration remains low, particularly in Tier II and III cities. Analysts believe Jio BlackRock’s entry, backed by strong digital infrastructure and financial literacy initiatives, could address this gap effectively.

"India needs a digital disruptor in the wealth advisory space. Jio BlackRock’s hybrid model combining tech with expert human guidance could reshape how financial advice is consumed," said Amit Khurana, Head of Research, Dolat Capital.

Product Roadmap and Differentiation

While full details of Jio BlackRock’s advisory offerings are yet to be revealed, industry insiders anticipate an integrated suite of services, including:

• Goal-based investment planning

• Robo-advisory services powered by AI/ML

• Portfolio rebalancing tools

• ESG and thematic investment advice

• Low-cost access to global and domestic asset classes

What differentiates Jio BlackRock from legacy players is its access to Jio’s 450-million-strong telecom user base and its emphasis on using data analytics to deliver hyper-personalized recommendations at scale.

Competitive Landscape Heats Up

The SEBI nod for Jio BlackRock intensifies competition in an already heating investment advisory segment. Incumbents like Zerodha, Groww, Paytm Money, and traditional wealth managers such as ICICI Direct and HDFC Securities have all been investing heavily in AI-driven advisory platforms.

"With this approval, Jio BlackRock is no longer just a theoretical threat—it’s a real one," said Sneha Bhatia, fintech analyst at Bernstein. "Players that do not innovate will lose out on younger, tech-savvy investors."

Regulatory Clarity and SEBI’s Push for Advisory Transparency

SEBI’s decision also reflects the regulator’s broader vision of promoting transparency and investor protection in advisory services. Over the past few years, SEBI has tightened norms around fee disclosures, conflict of interest, and adviser-commission structures. Jio BlackRock will be required to adhere to these fiduciary standards, providing clients with unbiased, client-first investment advice.

"SEBI wants to ensure that investors receive credible and non-conflicted advice," said Rajeev Bansal, a regulatory expert. "Jio BlackRock’s entry could push other advisers to raise the bar."

Investor Outlook: A New Era of Advisory?

The approval is expected to be a game-changer for Indian investors, especially first-time participants. For investors, it could mean:

• More affordable access to high-quality advisory

• Data-backed insights replacing emotion-driven decisions

• Digital-first engagement through apps and bots

• A push toward long-term wealth creation rather than short-term speculation

Retail investor Suman Jain from Lucknow shared,

"I’ve been hesitant to trust local advisers due to lack of transparency. If a big name like Jio BlackRock offers advisory at low cost, I’d be willing to give it a try."

What's Next?

Following the SEBI approval, Jio BlackRock is expected to officially launch its advisory platform by Q4 2025. Hiring for advisory roles, backend tech integration, and pilot testing are reportedly already underway.

With this strategic move, Jio BlackRock is not just entering the Indian investment advisory market—it’s poised to reshape it. As competition stiffens and investor expectations evolve, this partnership could very well define the future of wealth advisory in India.