Fiduciaries

What Fiduciaries does

Fiduciaries is a Bangalore-based sole proprietorship operated by Avinash Khatoo Luthria as an individual SEBI Registered Investment Adviser (registration INA200011125, perpetual since July 12, 2018). It offers a single core service: hourly-fee financial planning delivered through a proprietary 5-hour customized process, focused exclusively on retirement planning and investments in Passive Index Funds. The firm operates as a solo practitioner by deliberate design, without any team members, and positions itself as the first Hourly-Fee Financial Planner in India and the third globally, as well as the only Indian RIA to publicly recommend solely Passive Index Funds while rejecting all active investing.

The service is delivered entirely through audio calls and email; there is no proprietary technology, mobile application, or digital platform. Engagements are structured as Rs 150,000 for 5 hours of effort for new clients and Rs 75,000 for 2.5 hours for renewal clients (effective rate Rs 30,000/hour, inclusive of taxes, payable in advance via SEBI-mandated UPI), with no commissions earned from any financial product recommended. The practice serves a narrow segment of knowledgeable high-net-worth individuals and couples meeting minimum net-worth thresholds of Rs 5–20 crore depending on age and circumstances, and has cumulatively engaged 100+ such client families.

The go-to-market motion is referral-driven and inbound-only: prospective clients initiate contact via email after self-qualifying through the firm's website, which functions as the primary marketing asset. Fiduciaries invests heavily in content marketing and earned media, with published articles in Business Standard, Mint, The Ken, Bloomberg Quint, and FreeFinCal, plus a YouTube channel and LinkedIn presence under Avinash Luthria's name. The firm's competitive positioning rests on fee-only transparency, fiduciary alignment, IIM Bangalore pedigree, and 12 years of prior senior PE/VC investing experience brought into the advisory practice.

Name

Fiduciaries

Legal name

Avinash Khatoo Luthria

Website

https://fiduciaries.in

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Fiduciaries is a Bangalore-based sole proprietorship run by SEBI-registered Investment Adviser Avinash Luthria, offering hourly-fee financial planning focused on retirement planning and passive index fund investments to high-net-worth individuals across India.

Ownership category

akta.pro rank

Product category

Personal Financial Planning and Investment Advisory

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Fee-Only Advisory (FSAEAAAL)

Keywords

• Hourly-fee financial planning
• Retirement planning advisory
• Passive index fund advice
• Fee-only investment advisory
• SEBI registered investment adviser

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Financial Planning Fees: Hourly-fee model: Rs 150,000 for 5 hours of effort for new clients; Rs 75,000 for 2.5 hours for renewal clients; effectively Rs 30,000 per hour; fees are inclusive of taxes and payable in advance; no commission from financial products recommended

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels9 records

Core offering

Fiduciaries provides personalized, fee-only financial planning and retirement-planning advice to high-net-worth individuals through a 5-hour Customized Process, delivered entirely via audio calls by Avinash Luthria. The practice exclusively recommends passive index funds and avoids all active investing, charging transparent hourly fees (Rs 150,000 for 5 hours for new clients; Rs 75,000 for 2.5 hours for renewal clients) with zero commissions.

Product overview

Fiduciaries is a solo-practitioner financial advisory firm offering a single core service: Hourly-Fee Financial Planning. The practice specializes in retirement planning and exclusively recommends Passive Index Funds, avoiding all Active Investing. The service is delivered through a proprietary 5-hour Customized Process (distinct from the industry-standard 2-hour Robo++ Process), conducted entirely via audio calls. As a SEBI Registered Investment Adviser (RIA), the firm operates under strict fiduciary obligations with zero commissions, charging only transparent hourly fees.

Differentiator

Problem solved

Functional benefit

Products and services

• Hourly-Fee Financial Planning Service Personalized, fee-only financial planning service delivered through a 5-hour Customized Process (typically 3 audio calls of 60 minutes each) that focuses on retirement planning and investment in passive index funds; provided exclusively to high-net-worth Indian clients (Rs 5-20 crore net worth range) via audio calls by Avinash Luthria; charged at Rs 150,000 (new clients) or Rs 75,000 (renewal clients) for the engagement, zero commissions.

Quantifiable outcome

• Typical investor in Active Largecap Mutual Funds is 6% poorer than investor in equivalent Nifty 50 Index Fund over 5 years (per SPIVA report)
• +1 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• Swapnil Kendhe (VivekTaru)minorOthersReferral partner for clients whose net worth is below Avinash's minimum threshold; Swapnil is another Hourly-Fee RIA who recommends index funds; Avinash refers potential clients to him when engagement won't provide value-for-money
• S R Srinivasan (Srinivesh)minorOthersReferral partner for clients whose net worth is below Avinash's minimum threshold; Fixed-Fee RIA who prefers to recommend only Index Funds; Avinash refers potential clients to him when engagement won't provide value-for-money

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Betterment: US digital wealth manager with passive index fund portfolios and an optional human advisor tier; indirect competitor for the same 'passive-only' positioning, though delivered via self-serve technology rather than hourly engagement.

Others

• FreeFinCal: India-based personal finance education platform run by Prof. Pattabiraman M (IIT Madras); referenced in Fiduciaries' ecosystem as a curated fee-only planner listing and source of investor education, not a direct competitor.
• Capitalmind: India-based investment research and portfolio advisory platform led by Deepak Shenoy; not a direct RIA competitor, but an adjacent ecosystem participant referenced in shared panel discussions (The Ken Active vs Passive event, May 2025).

Direct peers

• Srinivesh: India-based fixed-fee SEBI RIA run by S R Srinivasan, who also recommends only index funds. Explicit referral partner for clients below Fiduciaries' minimum net worth, making it the closest direct comparable for advisory model and target client type.
• VivekTaru: India-based hourly-fee SEBI RIA operated by Swapnil Kendhe; identical fee-only, passive-index-funds-only philosophy. Explicit referral partner for sub-threshold prospects, and the only other practitioner Avinash publicly names alongside himself in this hourly-fee niche.
• XY Planning Network: US-based network of fee-only financial planners serving Gen X and Millennials; comparable in being a fee-only advisor collective, though operating at scale and technology-enabled rather than as a solo practitioner.
• Facet Wealth: US-based fee-only financial planning firm combining CFP-led advice with a digital experience for mass-affluent clients; comparable business model (fee-only advice without commissions), though it leverages technology and a salaried advisor model rather than a solo practice.
• Garrett Planning Network: US-based network of hourly-fee financial planners; the closest global analog to Avinash's hourly-fee model, providing a peer benchmark for how solo hourly-fee practices are organized and scaled internationally.

Broad incumbents

• Empower (Personal Capital): Large US digital wealth manager offering free tools, robo-advice, and dedicated human advisor services at AUM-based fees; competes for the same HNW passive-investor mindshare from a vastly scaled, technology-led platform.
• Wealthsimple: Canadian hybrid advisory and investing platform offering low-fee automated portfolios with optional human advisor support; shares the fee-based philosophy and passive-investing tilt, but with technology scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@avinashluthria
• LinkedInlinkedin.com/company/fiduciaries

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fiduciaries