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Home›Advisory Hub›RA vs IA vs Finfluencer

RA vs IA vs Finfluencer

SEBI

Who is allowed to say what — registration differences in plain English.

Research Analyst (RA)

Registered with SEBI (reg-no INH…). May publish research with a buy/sell/hold view on securities, and charge a subscription. Cannot execute trades for you.

Investment Adviser (IA)

Registered with SEBI (reg-no INA…). May give personalised advice suited to your profile, for a fee (capped at ₹1,51,000/family/year). Cannot execute trades for you.

Finfluencer (unregistered)

Not SEBI-registered. May share general opinions and education only — never specific buy/sell calls or price targets for a fee. On bulls.plus every non-registered post carries an 'Opinion · Not advice' label.

Retail user

Any verified member. May post community opinions (labelled 'Not advice'), follow, message, and rate analyst GMP.

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Investor education content — not investment advice. Investments in the securities market are subject to market risks; read all related documents carefully.
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