Investment Advisory Services in India: Types, Fees, SEBI Rules and How to Pick the Right One

Investment advisory services in India come in two regulated forms, and the difference decides what you can expect. One gives you a personal plan, the other gives you research you apply yourself.

This guide sets out the types, the SEBI fee limits, the usual process, the red flags and where Univest fits as a research analyst.

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What Are Investment Advisory Services?

Investment advisory services are professional guidance on what to invest in, how much to invest and when to change course, delivered by an entity registered with SEBI. The regulator separates personalised advice from general research, which is why the registration category matters more than the brand.

Provider	Registration	Scope	Typical payment
Investment adviser (IA)	SEBI IA registration	Personalised plan after risk profiling; fiduciary duty	Fixed fee or AUA-based fee within caps
Research analyst (RA)	SEBI RA registration	Research reports and recommendations for subscribers	Subscription
Mutual fund distributor	AMFI ARN	Product access and execution	Commission from fund houses
Portfolio manager	SEBI PMS registration	Discretionary management	Management and performance fees

Investment Advisory Services Fee Limits

Under SEBI's amended rules, an investment adviser can charge a fixed fee of up to Rs 1,51,000 per family per year, or a fee linked to assets under advice of up to 2.5% a year per family. Fees must be disclosed in a written agreement, and advisers should not mix advice with commission-earning product sales.

How Investment Advisory Services Work Step by Step

1. Registration check: you verify the provider on SEBI's intermediary list.
2. Risk profiling: the adviser records your goals, horizon, income and risk tolerance.
3. Agreement: scope, fee and duration are written down.
4. Plan: asset allocation and product-level recommendations are shared.
5. Review: the plan is reviewed on a fixed schedule and after life changes.

Use the Univest Screener to research stocks before you act on any advice

Where Univest Fits Among Investment Advisory Services

Univest Stock Broking is a SEBI-registered stock broker (INZ000317437) and depository participant on NSDL, and Univest also holds SEBI research analyst registration INH000013776. As a research analyst, Univest provides stock research, AI-powered BUY/SELL/HOLD insights on 2000+ NSE stocks, screeners, IPO views and weekly webinars. That is research and not a personalised advisory plan, so combine it with an investment adviser if you want a signed plan. Pro memberships start from Rs 99 a month with terms, so check the current plan in the app.

Who Should Use Investment Advisory Services?

• First-time investors who want a structure before they pick products
• Professionals with little time to review a portfolio
• Investors who hold many overlapping funds and stocks
• Families planning for retirement or a child's education

How to Compare Investment Advisory Services

Compare investment advisory services on four points: registration category, fee transparency, conflict of interest and track record of process. Past returns tell you little, so ask how the provider builds, monitors and documents recommendations.

Suitability, NISM Certification and the SEBI Intermediary List

A SEBI registered investment adviser must test suitability, meaning the advice must match your risk profile and goals. Advisers also need NISM certification, and you can check registration on the SEBI intermediary list.

Investment advisory services that cover portfolio advisory services or mutual fund selection should show the same credentials. If you are searching for the best mutual fund advisor in India, apply the same checks.

Download the Univest iOS App or Univest Android App to get SEBI-registered research and AI insights on your holdings.

Red Flags in Investment Advisory Services

• Assured or fixed returns
• Unregistered individuals on social media, WhatsApp or Telegram
• Advice tied to products that pay the adviser a commission
• No risk profile and no written agreement
• Pressure to deposit money into a personal account

Picking Investment Advisory Services With Confidence

The right investment advisory services depend on whether you want a personalised plan or well-researched ideas. Verify registration, read the fee agreement and keep records. No advice removes market risk, and returns can never be guaranteed.

FAQs on Investment Advisory Services

What are investment advisory services?

Ans. Investment advisory services are professional guidance on what, when and how much to invest, offered by SEBI-registered advisers or research analysts.

How much do investment advisory services cost in India?

Ans. A SEBI-registered investment adviser can charge a fixed fee up to Rs 1,51,000 per family per year or up to 2.5% of assets under advice per year per family.

What is the difference between an investment adviser and a research analyst?

Ans. An investment adviser gives personalised advice after profiling you, while a research analyst publishes research and recommendations for subscribers.

Is Univest an investment adviser?

Ans. Univest holds SEBI research analyst registration INH000013776. It provides research, screeners and AI insights, not a personalised advisory plan.

How do I check if an advisory service is SEBI-registered?

Ans. Search the name and registration number on SEBI's intermediary list and verify the category and validity.

Are investment advisory services worth it?

Ans. They are worth it when they bring a clear plan, transparent fees and discipline. They cannot guarantee returns or remove market risk.

Can I trust advice on WhatsApp or Telegram?

Ans. No, exchanges and SEBI caution investors against unsolicited tips on such platforms. Deal only with registered intermediaries.