- Summary
- SEBI-registered stock advisory firms provide different services based on their registration as an Investment Adviser, Research Analyst, or stock broker.
- StockGro Technology LLP subsidiary of Assetgro Fintech Limited (formerly known as Assetgro Fintech Private Limited), Angel One, Motilal Oswal Financial Services, StockAxis, IIFL Capital Services, Sushil Financial Services, Adroit Financial Services, Kotak Securities, Sharekhan, and ICICI Securities are among the firms covered.
- Investors can verify an advisory firm’s SEBI registration, registration number, validity, and relevant service category through SEBI’s official website.
- Fees, research, service coverage, disclosures, and client support are key factors to consider when comparing stock advisory services.
The stock market is a dynamic investment avenue that carries significant risks. You need help from expert investors to make the right buy or sell decisions. This is where stock investment advisory firms in India come in. They provide research, recommendations, and strategies that enable investors to manage their portfolios effectively.
However, it is essential to choose the right advisor. The Securities and Exchange Board of India (SEBI) in India regulates advisory companies to promote transparency and protect investors. As an additional measure of trust and security, a stock advisory company registered with SEBI can be a good choice. This blog features the 10 top SEBI-registered advisory companies and how to select one.
Why Choose a SEBI-Registered Advisory Firm?
SEBI registration confirms that an advisor is registered under the relevant regulatory framework. However, it does not assure returns, research accuracy, or the quality of advice provided.
Before working with a SEBI-registered advisor, investors can check its registration number on SEBI’s official website. Comparing the firm’s name and registration details with SEBI’s records can help confirm its current registration and the service it is registered to provide.
RIA vs Research Analyst: Which Registration Does a Firm Hold?
An Investment Adviser, Research Analyst, and stock broker perform different functions in the securities market. Knowing the RIA vs research analyst SEBI distinction can help investors identify what type of service a firm is authorised to provide.
- Registered Investment Adviser
A Registered Investment Adviser (RIA), also referred to as an Investment Adviser (IA), provides investment advice for consideration. The advice may take into account factors such as an investor’s financial situation, investment objectives, and risk profile.
An IA must hold a valid SEBI registration before providing investment advisory services.
- Research Analyst
A Research Analyst (RA) prepares or publishes research reports, provides research-based recommendations, or gives opinions and price targets relating to securities. An RA registration is different from an IA registration and does not, by itself, mean that the entity provides personalised investment advice.
Top SEBI-Registered Stock Advisory Companies – Compared
The top SEBI-registered advisory companies listed below cover different types of market services, including investment advisory, equity research, stock broking, and related investment products. The registration held by each firm indicates the regulatory capacity in which it operates. It does not, by itself, indicate the quality or performance of its recommendations.
| Firm | What They Offer | Who They Suit |
| StockGro Technology LLP subsidiary of Assetgro Fintech Limited (formerly known as Assetgro Fintech Private Limited) | Research-based market information, stock analysis, insights by SEBI-registered analysts, and investment-related tools | Investors looking for research, market insights, and stock-analysis tools |
| Angel One Limited | Investment advisory, research services, stock broking, and investment products | Investors seeking advisory and research services alongside a broking platform |
| Motilal Oswal Financial Services Limited | Stock broking, research, investment advisory, wealth management, and financial products | Retail, HNI, and institutional clients seeking multiple financial services |
| StockAxis (Opulent Investment Adviser Private Limited) | Equity research, stock recommendations, and investment advisory services | Investors seeking equity research and advisory services |
| IIFL Capital Services Limited | Investment advisory, equity research, broking, wealth management, and investment banking | Investors and clients seeking research, advisory, and broader financial services |
| Sushil Financial Services Private Limited | Equity research, research recommendations, stock broking, and investment-related services | Investors seeking research services alongside broking facilities |
| Adroit Financial Services Private Limited | Equity research, stock broking, and related market services | Investors looking for research and broking services |
| Kotak Securities Limited | Stock broking, research, mutual funds, fixed deposits, PMS, and other investment products | Investors seeking research alongside a broad broking and investment platform |
| Sharekhan Limited | Equity and derivatives trading, research, mutual funds, PMS, and investment solutions | Investors seeking research-backed trading and investment services |
| ICICI Securities Limited | Investment advisory, equity research, stock broking, mutual funds, and other investment products | Investors seeking advisory and research services through a multi-product platform |
- StockGro Technology LLP
StockGro is a stock market research platform operated by Assetgro Fintech Limited (formerly known as Assetgro Fintech Private Limited), whose subsidiary, StockGro Technology LLP, holds a SEBI Research Analyst registration (No. INH000018300).
It is a stock advisory & research platform used to research, decide, and act on stock market investments. Its ecosystem brings together market insights, stock analysis, and portfolio tools, with 150+ SEBI-registered analysts sharing insights and trade calls on the platform. It also offers Stoxo, its AI-powered stock-market research tool, for analysing stocks and market-related queries.
- Angel One Limited
Angel One has been in the brokerage business since 1996. Its offering today goes beyond stock trading, with advisory services, investment options, market tools, and learning resources available through its digital platform.
- Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services started in 1987 as a small sub-broking business. Over the years, it has expanded into several areas of financial services. Its businesses now include wealth management, institutional equities, asset management, investment banking, private equity, and other capital-market activities.
- StockAxis (Opulent Investment Adviser Private Limited)
StockAxis is the brand name used by Opulent Investment Adviser Private Limited. Its work is centred on equity research, stock recommendations, and investment advisory services. The company also uses its MILARS approach for equity investing, which forms part of its stock research methodology.
- IIFL Capital Services Limited
IIFL Capital Services Limited, formerly IIFL Securities Limited, has evolved from its origins as a research house into a diversified financial institution. Its operations now cover wealth management, institutional equities, investment banking, retail broking, and financial product distribution across domestic and international markets.
- Sushil Financial Services Private Limited
Sushil Finance began operations in 1982 with activities such as capital raising and IPO distribution. The business has grown over the past four decades and now serves both individual and institutional clients. Research and broking are among the services offered by the group.
- Adroit Financial Services Private Limited
Adroit Financial Services has been functioning in the Indian capital markets for around three decades. Its services include securities broking and equity research, along with derivatives, commodities, currency futures, depository services, and IPO distribution. The company has also established a presence across approximately 250 cities.
- Kotak Securities Limited
Kotak Securities has its retail operations under the Kotak Neo brand and is a member of the Kotak Mahindra Group. Customers can use its platform for equities, derivatives, commodities, currencies, and other investment products, with research and digital trading services available as well. The company reported more than 67 lakh customers in June 2026, along with 148 branches and 1,297 authorised persons across 344 cities.
- Sharekhan Limited
Sharekhan has a presence in India’s retail investment market spanning more than two decades. The company provides online investing and trading services across segments such as equities and derivatives, supported by research and a range of investment products.
- ICICI Securities Limited
Established in 1995, ICICI Securities provides a range of financial services through its full-service marketplace. These include investing and trading, mutual funds, insurance, private wealth management, and issuer and advisory services. Its client base includes retail investors, HNIs, corporates, and institutions.
Ranking Methodology
Selection was based on the firms’ current SEBI registration as an Investment Adviser or Research Analyst, along with the market-related services they make publicly available. The firms are included for comparison only. No ranking has been assigned based on returns, accuracy of recommendations, fees, or quality of service.
Company information and registration details were checked on 25 September 2026.
How to Verify SEBI Registration
Investors do not have to rely only on information shared by an investment adviser about its registration. SEBI’s website has a public list of registered Investment Advisers, along with details such as the registration number, name, contact information, and validity. These details can be checked before taking the adviser’s services.
The steps to verify SEBI registration of an Investment Adviser from SEBI’s website are as follows:
- Open the SEBI Investment Adviser list: Visit the https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13 page. The page displays the list of registered Investment Advisers and provides search fields for checking an entity by name, registration number, contact number, email or location.
- Search by the firm’s name or registration number: Enter the adviser’s Name/Trade Name or its registration number in the relevant search field. For example, we’ve searched for the name ‘Motilal Oswal Wealth Limited’.
(Alt text: SEBI Investment Adviser search result for Motilal Oswal Wealth Limited showing its registration number and validity)
- Check the registration details: Review the result shown by SEBI and compare the firm’s name and registration number with the details provided on its official website or documents.
- Check the registration validity: SEBI’s records also show the validity of the registration. Check this information to ensure that the registration appears in the current SEBI records.
- Check that the registration covers the relevant service: An entity may hold different SEBI registrations for different activities. Therefore, if you are checking for a SEBI-registered advisory firm, make sure the registration you find is listed under Investment Adviser rather than Research Analyst or another intermediary category.
What to Consider When Choosing an Advisor
Knowing how to choose a stock advisor involves comparing key factors such as:
Research Quality & Track Record
A SEBI-registered stock market tips provider is expected to give recommendations that have been tested and proven. Seek companies that release regular research reports and have a track record of giving timely buy or sell calls.
Fees & Transparency
Fees vary depending on whether the service is provided by an Investment Adviser or a Research Analyst. For individual and HUF clients, SEBI has set the following fee limits:
| Service | Fee Model | SEBI-prescribed limit |
| Investment Adviser | Assets Under Advice (AUA) | Up to 2.5% of AUA per annum per family of client |
| Investment Adviser | Fixed fee | Up to ₹1.51 lakh per annum per family of client |
| Research Analyst | Fixed fee | Up to ₹1.51 lakh per annum per family of client |
These are the maximum fees permitted under the applicable SEBI framework. They are not the rates that every firm charges. An Investment Adviser’s fee can vary based on the fee mode and services offered. Statutory charges are separate.
Before subscribing, check the total amount payable, billing cycle, services included, taxes or statutory charges, advance-payment terms, and refund conditions.
Services & Coverage (Intraday, Long-Term)
Investors have different investment needs. Some prefer intraday trading, while others focus on long-term investing. Check whether the advisor’s services align with your investment goals, preferred market segments, and trading or investing approach. For personalised investment advice, you can also consult a SEBI-registered investment advisor and check whether the services offered match your requirements.
Client Support & Accessibility
Good customer service is necessary. Choose companies that offer easily available support systems, prompt communication, and individualised help to clarify queries.
Conclusion
Choosing among the top SEBI-registered stock advisory companies should start with checking what service you actually need, rather than relying on a company’s name or past recommendations. Before subscribing, verify the registration, compare the fee structure, review the scope of services, and check how recommendations are communicated. As a final step, read the service terms and disclosures carefully so you know what you are paying for and what the advisory does not cover.
FAQs
A SEBI registered advisor trustworthy check should include red flags such as assured returns, pressure to invest, unclear fees, or misleading performance claims.
The RIA vs RA distinction depends on the service: RIAs provide investment advice, while Research Analysts publish research, recommendations, opinions, or price targets.
No. Guaranteed returns SEBI claims should raise caution. SEBI-registered advisors cannot present investment advice as guaranteeing assured, minimum, or target returns.
