SEBI Regulation:

Regulation 15A of the SEBI IA Regulations, Investment Advisers shall be entitled to charge fees for providing investment advice from a client in the manner as specified by SEBI. 

As per Guidelines for Investment Advisers, 2(iii) related to fees,

(a) If agreed by the Client, the IA may charge fees in advance. However, such advance shall not exceed fees for 2 quarters.

(b) In the event of pre-mature termination of the IA services in terms of agreement, the Client shall be refunded the fees for unexpired period. However, IA may retain a maximum breakage fee of not greater than one quarter fee.

 

No liability of Investment Adviser for Loss

The Investment Adviser shall not incur any liability by reason of any loss, which the Client may suffer by reason of any depletion in the value of the assets under advice, which may result by reason of fluctuation in asset value, or by reason of non-performance or under-performance of the securities/funds or any other market conditions.

 

Standard Refund Policy

Neuron Wealth Advisors LLP usually does not charge fees of more than one quarter in advance, which the Investment Adviser is allowed to retain as breakage fees as per SEBI regulation. 

As a result, if the Letter of Engagement (LOE) or the Agreement is terminated for any reason either by Investment Adviser or by client or by cancellation or suspension by SEBI, no refund is provided under any circumstances.

As the Investment Adviser is not responsible and does not incur any liability for any loss, which the Client may suffer for any decrease in the value of assets under advice, Neuron Wealth Advisors LLP shall not provide any refund to the Client of losses incurred by the Client for any reasons, whether foreseen or unforeseen.

However, if the refund is to be issued for any reason, following procedure is to be followed:

 

Procedure

  1. Once a refund request is received and assessed, the Investment Adviser will send an email to notify the Client that the Investment Adviser has received the request.
  2. The Investment Adviser support team will contact the Client to confirm request or to ask for additional information if needed
  3. The Investment Adviser shall notify the Client of the approval or rejection.
  4. Refunds shall be made after deducting a cancellation fee for services already rendered or a breakage fee. 
  5. If the refund request is approved, the refund will be processed through banking channel either through cheque or through IMPS/NEFT/RTGS within 5 days. 
  6. If the Client has not received a refund within 5 days of approval of refund, the Client is requested to check the bank account as it may take some time before the funds are available in the account. 
  7. If the Client has followed all the instructions given, and yet to receive the refund, please contact the Investment Adviser.

 

Timeline

The expected timeframe for the refund process upon cancellation is a maximum of fifteen [15] working days. However, timeline for actual refunds to take place and for the credit to reach the Client account would depend on the speed of the banking channels and mode of refund.

If you have any questions about this Policy do not hesitate to contact us by E-mail at neuronwealth@gmail.com.