Fee caps & billing rules
SEBIWhat a SEBI adviser can charge you — and what they cannot.
The annual fee cap
A SEBI Investment Adviser may charge a maximum of ₹1,51,000 per family per year for advice (under the fee-based model).
bulls.plus enforces this cap automatically at checkout across all RA/IA subscriptions linked to your PAN — you simply cannot be over-billed.
Billing rules
Advance fees from SEBI RA/IA can be collected for a maximum of one quarter (3 months) at a time.
All payments go through a regulated gateway with a full audit trail — never cash, never to a personal account.
What's included vs not
A subscription unlocks that analyst's gated research, priority alerts, and IPO reviews.
It is not a promise of profit. Past performance and ratings reflect credibility and engagement, not guaranteed accuracy.
Official resources