{"id":297306,"date":"2026-10-09T10:41:40","date_gmt":"2026-10-09T05:11:40","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=297306"},"modified":"2026-10-09T10:41:40","modified_gmt":"2026-10-09T05:11:40","slug":"broking-and-wealth-management-stocks-strong-roadmap","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/","title":{"rendered":"3 Broking and Wealth Management Stocks With a Strong Future Roadmap: Motilal Oswal Financial Services, Nuvama Wealth Management and JM Financial"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Motilal Oswal Rs 1,014.30, P\/E 30.89. Nuvama Rs 1,737.40, P\/E 29.61. JM Financial Rs 120.60, P\/E 10.39. Closing prices of 8 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Broking and wealth management stocks with the clearest long-term roadmaps today include Motilal Oswal in broking, asset management and housing finance, Nuvama in wealth management and asset services and JM Financial in investment banking, wealth and lending. FY26 revenue growth was 11.9% at Motilal Oswal, 11.5% at Nuvama and -4.3% at JM Financial. P\/E stands at 30.89 for Motilal Oswal (industry 34.91), 29.61 for Nuvama (industry 34.91) and 10.39 for JM Financial (industry 17.72). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Broking and wealth management stocks give investors exposure to the firms that earn from rising investing activity, client assets and capital raising. Market activity, client assets and fee income decide how steady earnings are.<\/p>\n<p>Readers comparing broking and wealth management stocks should weigh growth, margins, cash flow and valuation together instead of leaning on any single number.<\/p>\n<p>This list covers three broking and wealth management stocks: Motilal Oswal Financial Services for broking, asset management and housing finance, Nuvama Wealth Management for wealth management and asset services and JM Financial for investment banking, wealth and lending. Every figure comes from the latest reported financials and the 8 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=broking-and-wealth-management-stocks-strong-roadmap\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#What_Are_Broking_and_Wealth_Management_Stocks\" title=\"What Are Broking and Wealth Management Stocks?\">What Are Broking and Wealth Management Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Broking_and_Wealth_Management_Stocks_at_a_Glance\" title=\"Broking and Wealth Management Stocks at a Glance\">Broking and Wealth Management Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Why_Do_Broking_and_Wealth_Management_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Broking and Wealth Management Stocks Have a Strong Roadmap in India?\">Why Do Broking and Wealth Management Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Motilal_Oswal_Financial_Services_Broking_and_Asset_Management_Anchor_the_Roadmap\" title=\"Motilal Oswal Financial Services: Broking and Asset Management Anchor the Roadmap\">Motilal Oswal Financial Services: Broking and Asset Management Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Nuvama_Wealth_Management_Wealth_and_Asset_Services_Drive_the_Pipeline\" title=\"Nuvama Wealth Management: Wealth and Asset Services Drive the Pipeline\">Nuvama Wealth Management: Wealth and Asset Services Drive the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#JM_Financial_Investment_Banking_and_Advisory_Build_the_Next_Leg\" title=\"JM Financial: Investment Banking and Advisory Build the Next Leg\">JM Financial: Investment Banking and Advisory Build the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Best_Broking_and_Wealth_Management_Stocks_in_India_Motilal_Oswal_vs_Nuvama_vs_JM_Financial_on_Key_Financials\" title=\"Best Broking and Wealth Management Stocks in India: Motilal Oswal vs Nuvama vs JM Financial on Key Financials\">Best Broking and Wealth Management Stocks in India: Motilal Oswal vs Nuvama vs JM Financial on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#How_to_Evaluate_Broking_and_Wealth_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Broking and Wealth Stocks to Buy Before You Invest\">How to Evaluate Broking and Wealth Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Risks_to_Consider_Before_Investing_in_Broking_and_Wealth_Management_Stocks\" title=\"Risks to Consider Before Investing in Broking and Wealth Management Stocks\">Risks to Consider Before Investing in Broking and Wealth Management Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#FAQs_on_Broking_and_Wealth_Management_Stocks\" title=\"FAQs on Broking and Wealth Management Stocks\">FAQs on Broking and Wealth Management Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Which_are_the_best_broking_and_wealth_management_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best broking and wealth management stocks in India with a strong roadmap?\">Which are the best broking and wealth management stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Is_Motilal_Oswal_Financial_Services_a_good_stock_to_buy_now\" title=\"Is Motilal Oswal Financial Services a good stock to buy now?\">Is Motilal Oswal Financial Services a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#What_is_the_PE_ratio_of_Motilal_Oswal_Nuvama_and_JM_Financial\" title=\"What is the P\/E ratio of Motilal Oswal, Nuvama and JM Financial?\">What is the P\/E ratio of Motilal Oswal, Nuvama and JM Financial?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Which_of_these_broking_and_wealth_management_stocks_has_the_highest_return_on_equity\" title=\"Which of these broking and wealth management stocks has the highest return on equity?\">Which of these broking and wealth management stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#What_are_the_risks_of_investing_in_broking_and_wealth_management_stocks\" title=\"What are the risks of investing in broking and wealth management stocks?\">What are the risks of investing in broking and wealth management stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#How_did_Motilal_Oswal_Nuvama_and_JM_Financial_perform_in_Q1_FY27\" title=\"How did Motilal Oswal, Nuvama and JM Financial perform in Q1 FY27?\">How did Motilal Oswal, Nuvama and JM Financial perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#Do_broking_and_wealth_management_stocks_pay_dividends\" title=\"Do broking and wealth management stocks pay dividends?\">Do broking and wealth management stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/broking-and-wealth-management-stocks-strong-roadmap\/#How_can_I_invest_in_broking_and_wealth_management_stocks_in_India\" title=\"How can I invest in broking and wealth management stocks in India?\">How can I invest in broking and wealth management stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Broking_and_Wealth_Management_Stocks\"><\/span><strong>What Are Broking and Wealth Management Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Broking and wealth management stocks are shares of companies that earn fees from broking, wealth advice, fund management and capital raising. Results depend on market volumes, client assets and fee income, so client assets and fee income separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Broking_and_Wealth_Management_Stocks_at_a_Glance\"><\/span><strong>Broking and Wealth Management Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three broking and wealth management stocks as of the 8 Oct 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/motilalofs\/motilal-oswal-financial-services-ltd-share-price-today\">Motilal Oswal Financial Services<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,014.30<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">61,262<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">30.89<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">34.91<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.50%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.65<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/nuvama\/nuvama-wealth-management-ltd-share-price-today\">Nuvama Wealth Management<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,737.40<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">32,037<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">29.61<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">34.91<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.26%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.80<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/jmfinancil\/jm-financial-ltd-share-price-today\">JM Financial<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">120.60<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11,546<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.39<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.72<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.28%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.09<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among capital market services stocks, all three trade at a discount to their industry P\/E multiples.<\/p>\n<p>Valuation matters here because broking and wealth management stocks can look attractive on growth and still look expensive on earnings.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Broking_and_Wealth_Management_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Broking and Wealth Management Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Broking and wealth management stocks have a strong roadmap in India because more households are investing in equities and funds, wealth is growing and companies keep raising capital. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Rising participation:<\/strong> More investors use equities and mutual funds, lifting broking and fund fees.<\/li>\n<li><strong>Growing wealth:<\/strong> High net worth clients seek advisory and asset services.<\/li>\n<li><strong>Capital raising:<\/strong> Public issues and advisory mandates feed investment banking fees.<\/li>\n<\/ul>\n<p>Together these drivers explain why broking and wealth management stocks keep drawing investor attention.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Motilal_Oswal_Financial_Services_Broking_and_Asset_Management_Anchor_the_Roadmap\"><\/span><strong>Motilal Oswal Financial Services: Broking and Asset Management Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Motilal Oswal&#8217;s roadmap rests on broking, wealth management, asset management and housing finance under one financial services group, with rising equity participation supporting its market-linked businesses.<\/p>\n<p>Revenue grew from Rs 4,316.41 crore in FY22 to Rs 9,416.42 crore in FY26, an 118.2% rise, and FY26 revenue was 11.9% higher than FY25. FY26 net profit fell 25.6% to Rs 1,865.43 crore. Over four years, net profit rose from Rs 1,310.73 crore in FY22 to Rs 1,865.43 crore. In Q1 FY27, revenue grew 25.1% to Rs 3,432.23 crore, and net profit rose 10.2% to Rs 1,273.71 crore.<\/p>\n<p>Debt to equity is 1.65 and return on equity is 14.50%. Motilal Oswal paid a dividend of Rs 6 per share for FY26, a yield of 0.59%. At a P\/E of 30.89 against an industry P\/E of 34.91, the stock trades below its industry multiple.<\/p>\n<p>What to watch: FY26 net profit of Rs 1,865.43 Cr was lower than the Rs 2,508.18 Cr of FY25.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nuvama_Wealth_Management_Wealth_and_Asset_Services_Drive_the_Pipeline\"><\/span><strong>Nuvama Wealth Management: Wealth and Asset Services Drive the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nuvama&#8217;s roadmap rests on wealth management for high net worth clients, asset services and capital markets businesses, with growing client assets and market activity supporting revenue.<\/p>\n<p>Revenue grew from Rs 1,783.60 crore in FY22 to Rs 4,649.65 crore in FY26, a 160.7% rise, and FY26 revenue was 11.5% higher than FY25. FY26 net profit rose 5.6% to Rs 1,040.26 crore. Over four years, net profit rose from Rs 857.13 crore in FY22 to Rs 1,040.26 crore. In Q1 FY27, revenue grew 22.9% to Rs 1,381.96 crore, and net profit rose 15.8% to Rs 305.64 crore.<\/p>\n<p>Debt to equity is 2.80 and return on equity is 25.26%. Nuvama paid a dividend of Rs 27.8 per share for FY26, a yield of 1.58%. At a P\/E of 29.61 against an industry P\/E of 34.91, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 29.61 against an industry P\/E of 34.91 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"JM_Financial_Investment_Banking_and_Advisory_Build_the_Next_Leg\"><\/span><strong>JM Financial: Investment Banking and Advisory Build the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>JM Financial&#8217;s roadmap rests on investment banking, wealth management and asset management, along with a lending book, with capital raising and advisory activity supporting fee income.<\/p>\n<p>Revenue grew from Rs 3,763.28 crore in FY22 to Rs 4,260.59 crore in FY26, a 13.2% rise, and FY26 revenue was 4.3% lower than FY25. FY26 net profit rose 52.4% to Rs 1,176.88 crore. Over four years, net profit rose from Rs 992.37 crore in FY22 to Rs 1,176.88 crore. In Q1 FY27, revenue grew 9.2% to Rs 1,224.66 crore, and net profit fell 19.4% to Rs 368.74 crore.<\/p>\n<p>Debt to equity is 1.09 and return on equity is 11.28%. JM Financial paid a dividend of Rs 3.25 per share for FY26, a yield of 2.69%. At a P\/E of 10.39 against an industry P\/E of 17.72, the stock trades below its industry multiple.<\/p>\n<p>What to watch: Q1 FY27 net profit was 19.4% lower than a year earlier, and FY26 revenue of Rs 4,260.59 Cr was 4.3% lower than FY25.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Broking_and_Wealth_Management_Stocks_in_India_Motilal_Oswal_vs_Nuvama_vs_JM_Financial_on_Key_Financials\"><\/span><strong>Best Broking and Wealth Management Stocks in India: Motilal Oswal vs Nuvama vs JM Financial on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best broking and wealth management stocks in India, Motilal Oswal leads on FY26 revenue growth and Q1 FY27 revenue growth; Nuvama leads on Q1 FY27 net profit growth and return on equity; JM Financial leads on FY26 net profit growth and the lowest P\/E. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Motilal Oswal<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Nuvama<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">JM Financial<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9,416.42<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,649.65<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,260.59<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">-4.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,865.43<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,040.26<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,176.88<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">-25.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">52.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 net profit growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">-19.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.50%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.26%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.28%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">30.89<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">29.61<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.39<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.65<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.80<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.09<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.59%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.58%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.69%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Capital market earnings follow market volumes, client assets and fee income, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Broking_and_Wealth_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Broking and Wealth Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen broking and wealth management stocks and shortlist broking and wealth stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by company here.<\/li>\n<li>Check how much revenue comes from recurring fees compared with market-linked income.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read loan growth against funding costs to see how growth is financed.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these broking and wealth management stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Broking_and_Wealth_Management_Stocks\"><\/span><strong>Risks to Consider Before Investing in Broking and Wealth Management Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Quarterly profit:<\/strong> JM Financial&#8217;s Q1 FY27 net profit was 19.4% lower than a year earlier.<\/li>\n<li><strong>Annual profit:<\/strong> Motilal Oswal&#8217;s FY26 net profit of Rs 1,865.43 Cr was lower than the Rs 2,508.18 Cr of FY25.<\/li>\n<li><strong>Market cycles:<\/strong> Trading volumes and issue activity can slow when markets weaken.<\/li>\n<li><strong>Regulation:<\/strong> Rule changes on fees and products can alter earnings.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Motilal Oswal, Nuvama and JM Financial live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three capital market services stocks cover broking and asset management, wealth and asset services and investment banking with lending. Motilal Oswal leads on FY26 revenue growth and Q1 FY27 revenue growth; Nuvama leads on Q1 FY27 net profit growth and return on equity; JM Financial leads on FY26 net profit growth and the lowest P\/E.<\/p>\n<p>Across broking and wealth management stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the broking and wealth stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Broking_and_Wealth_Management_Stocks\"><\/span><strong>FAQs on Broking and Wealth Management Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_broking_and_wealth_management_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best broking and wealth management stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Motilal Oswal Financial Services, Nuvama Wealth Management and JM Financial stand out for their roadmaps in broking and asset management, wealth and asset services and investment banking with lending. FY26 revenue growth was 11.9% at Motilal Oswal, 11.5% at Nuvama and -4.3% at JM Financial, and return on equity ranges from 11.28% to 25.26%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Motilal_Oswal_Financial_Services_a_good_stock_to_buy_now\"><\/span><strong>Is Motilal Oswal Financial Services a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Motilal Oswal Financial Services has a debt to equity ratio of 1.65, a return on equity of 14.50% and a P\/E of 30.89 against an industry P\/E of 34.91. Valuation, market cycles and regulation move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Motilal_Oswal_Nuvama_and_JM_Financial\"><\/span><strong>What is the P\/E ratio of Motilal Oswal, Nuvama and JM Financial?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 30.89 for Motilal Oswal (industry 34.91), 29.61 for Nuvama (industry 34.91) and 10.39 for JM Financial (industry 17.72). All of them trade below the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_broking_and_wealth_management_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these broking and wealth management stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Nuvama Wealth Management has the highest return on equity at 25.26%, followed by Motilal Oswal Financial Services at 14.50% and JM Financial at 11.28%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_broking_and_wealth_management_stocks\"><\/span><strong>What are the risks of investing in broking and wealth management stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are quarterly profit, annual profit, market cycles and regulation. JM Financial&#8217;s Q1 FY27 net profit was 19.4% lower than a year earlier.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Motilal_Oswal_Nuvama_and_JM_Financial_perform_in_Q1_FY27\"><\/span><strong>How did Motilal Oswal, Nuvama and JM Financial perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Motilal Oswal Financial Services reported revenue of Rs 3,432.23 crore, up 25.1% year on year, and net profit rose 10.2% to Rs 1,273.71 crore. Nuvama Wealth Management reported revenue of Rs 1,381.96 crore, up 22.9% year on year, and net profit rose 15.8% to Rs 305.64 crore. JM Financial reported revenue of Rs 1,224.66 crore, up 9.2% year on year, and net profit fell 19.4% to Rs 368.74 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_broking_and_wealth_management_stocks_pay_dividends\"><\/span><strong>Do broking and wealth management stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Yes, all three companies pay dividends. The dividend yield is 0.59% for Motilal Oswal, 1.58% for Nuvama and 2.69% for JM Financial, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_broking_and_wealth_management_stocks_in_India\"><\/span><strong>How can I invest in broking and wealth management stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy broking and wealth management stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best broking and wealth management stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Motilal Oswal Financial Services, Nuvama Wealth Management and JM Financial stand out for their roadmaps in broking and asset management, wealth and asset services and investment banking with lending. FY26 revenue growth was 11.9% at Motilal Oswal, 11.5% at Nuvama and -4.3% at JM Financial, and return on equity ranges from 11.28% to 25.26%.\"}},{\"@type\":\"Question\",\"name\":\"Is Motilal Oswal Financial Services a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Motilal Oswal Financial Services has a debt to equity ratio of 1.65, a return on equity of 14.50% and a P\/E of 30.89 against an industry P\/E of 34.91. Valuation, market cycles and regulation move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.\"}},{\"@type\":\"Question\",\"name\":\"What is the P\/E ratio of Motilal Oswal, Nuvama and JM Financial?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The P\/E ratio is 30.89 for Motilal Oswal (industry 34.91), 29.61 for Nuvama (industry 34.91) and 10.39 for JM Financial (industry 17.72). All of them trade below the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these broking and wealth management stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Nuvama Wealth Management has the highest return on equity at 25.26%, followed by Motilal Oswal Financial Services at 14.50% and JM Financial at 11.28%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in broking and wealth management stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are quarterly profit, annual profit, market cycles and regulation. JM Financial's Q1 FY27 net profit was 19.4% lower than a year earlier.\"}},{\"@type\":\"Question\",\"name\":\"How did Motilal Oswal, Nuvama and JM Financial perform in Q1 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Motilal Oswal Financial Services reported revenue of Rs 3,432.23 crore, up 25.1% year on year, and net profit rose 10.2% to Rs 1,273.71 crore. 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Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Motilal Oswal Financial Services, Nuvama Wealth Management and JM Financial compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":28,"featured_media":297305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[10581,10582,10423,10583,10584],"class_list":["post-297306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-broking-and-wealth-management-stocks","tag-broking-and-wealth-stocks-to-buy","tag-jm-financial","tag-motilal-oswal-financial-services","tag-nuvama-wealth-management"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["297305"],"rank_math_title":["Broking and Wealth Management Stocks: Top 3 Roadmap Picks"],"rank_math_description":["Broking and wealth management stocks with a strong roadmap: Motilal Oswal, Nuvama and JM Financial compared on growth, margins, valuation and risks."],"rank_math_focus_keyword":["broking and wealth management stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-broking-and-wealth-management-stocks-with-a-strong-future-roadmap-motilal.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/297306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=297306"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/297306\/revisions"}],"predecessor-version":[{"id":297307,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/297306\/revisions\/297307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/297305"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=297306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=297306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=297306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}