If you’ve been approached by Equentis through the Equentis Telegram channel, Instagram, a phone call, or a sales meeting, you’re likely trying to figure out whether this is a firm worth paying for.
This page covers everything publicly verifiable: who runs Equentis, what their SEBI registration means, what real users say, what membership costs, and what to do if you’ve already paid and something went wrong.
Equentis Review
Founded in 2009, Equentis Wealth Advisory Services Limited operates under the consumer-facing brand name Research and Ranking, offering portfolio management and investment advisory strategies aimed at retail investors across India.
Because the firm has built a massive marketing presence across Instagram, Telegram, and YouTube to promote its flagship “5 in 5” wealth creation strategy, a portfolio approach aimed at identifying stocks with the potential to multiply in value over a 5-year horizon, many investors actively search for an independent Equentis PMS review before committing their capital.
This helps prospective subscribers evaluate how these customised long-term stock selections actually perform compared to standard index funds or traditional mutual funds.
How Equentis typically operates:
Sales approach:
- Heavy marketing of premium membership plans via Instagram and Telegram
- Multiple follow-up calls from sales executives to convert prospects
- In-person or video meetings before payment
Here are some of the Equentis Wealth Advisory Services:
- “5 in 5” portfolio strategy recommendations
- Stock picks delivered via email and SMS
- Advisory on mutual funds and direct equities
- Portfolio management and tracking tools
On paper, this looks like a standard SEBI-registered advisory offering. The sections below examine what actual subscribers report once payment is made.
Equentis Research and Ranking
Research and Ranking is not a separate company, it is the brand name under which Equentis Wealth Advisory Services Limited operates and markets its services to retail investors.
You will see both names used interchangeably across their website, app, and marketing material:
- Legal entity name: Equentis Wealth Advisory Services Limited
- Consumer brand name: Research and Ranking
- App name on Google Play: “Equentis – Research & Ranking”
This is a common structure in India’s advisory industry: a SEBI-registered legal entity operates a more marketable consumer brand.
If you signed up under “Research and Ranking,” your contract and SEBI registration accountability sit with Equentis Wealth Advisory Services Limited.
Equentis Wealth Advisory
Equentis Wealth Advisory is the registered entity behind both the Research and Ranking brand and Equentis Wealth Advisory Services.
The firm also operates related entities under the broader Equentis group, including:
- Equentis Edutech Limited: a wholly owned subsidiary launched in 2024, focused on financial literacy and investment education through its “Informed InvestoRR” platform
- Equentis Private Wealth (EPW): catering to high-net-worth individuals with investments typically above ₹1 crore
If you’re evaluating any “Equentis” branded service, it is worth confirming exactly which entity and SEBI registration applies to your specific engagement before paying.
Equentis Owner
Equentis was founded by Manish Goel, who serves as Founder and Director of Equentis Wealth Advisory Services Limited.
Background:
- Qualified Company Secretary and Law Graduate
- Holds a Master’s degree in International Trade and Finance from the UK
- Previously worked as a Finance Director across Europe and the UK before returning to India
- Founded Equentis in 2009 with the stated goal of making equity wealth creation accessible to retail investors
Other co-founders associated with the firm include:
- Arun Handa: Co-Founder
- Gaurav Goel: Co-Founder and Head of Technology
Other listed leadership includes: Sanjeev Anand (Director), Alok Arya (Chief Marketing Officer), Jaspreet Singh (Chief Investment Officer), and Rajiv Khanna (Head of Private Wealth).
A note on impersonation: Equentis has publicly flagged on its own website that fraudsters have impersonated the firm to promote Bitcoin and Forex schemes via WhatsApp, explicitly stating the company has no association with such offers.
If you’ve been approached about crypto or forex “opportunities” claiming to be from Equentis, this is very likely an impersonation scam; verify only through official channels.
Is Equentis SEBI Registered?
Yes. Equentis Wealth Advisory Services Limited is registered with SEBI as an Investment Adviser.
Registration details:
- SEBI Registration Number: INA000003874
- Category: Investment Adviser (not Research Analyst)
- Active since: December 2015
You can verify this directly on SEBI’s official intermediary portal at sebi.gov.in by searching the registration number.
Important distinction: As an Investment Adviser (IA), Equentis is permitted to give personalised investment advice tailored to an individual client’s financial situation, a broader scope than a Research Analyst (RA), which can only issue general research reports to all subscribers.
This means Equentis can legally provide more customised guidance, but it also carries a higher regulatory responsibility for suitability and disclosure.
What the registration does and does not tell you:
As of the latest review, there is no official SEBI adjudication order or penalty notice publicly recorded against Equentis. However, valid registration does not guarantee service quality, responsiveness, or satisfied customers, as the complaint patterns below illustrate.
Equentis Premium Membership
Equentis offers multiple subscription tiers based on investable capital, with current publicly reported pricing as follows:
| Plan | Target Investment Range | Approximate Annual Fee |
|---|---|---|
| 5 IN 5 Strategy | Smaller investors | ₹28,000/year (payable half-yearly) |
| Dhanwaan + MPO | Up to ₹1 crore | ₹1,00,000/year (₹50,000 + GST half-yearly) |
| Premium / High-net-worth plans | Above ₹1 crore | ₹80,000+ (payable half-yearly) |
What premium membership reportedly includes:
- A portfolio of 15-20 stocks with stated multi-year growth potential
- Detailed research reports for each recommended stock
- Entry price range, target, and upside potential guidance
- Quarterly result updates and portfolio fact sheets
- SMS, email, and dashboard alerts
- Dedicated support via live chat, phone, and email
What subscribers commonly report once payment is made:
This is where the gap between the marketed offering and the experience becomes most visible, covered in detail in the complaints section below.
Equentis Wealth Advisory Complaints
While there’s no official SEBI order or notice against them right now, they do have complaints registered on SEBI’s SCORES platform.
More importantly, user reviews show a worrying picture that future investors should know about.
1. Unfulfilled Promises and Poor Returns
Customers say they receive no meaningful recommendations after paying for premium memberships.
The promised quality research and regular stock updates simply don’t happen.
Real User Review
gds2259 (Delhi, India) faced a complete breakdown of promised services and suffered a 30% loss on recommended stocks.
Impact on Investors: Loss of money through poor recommendations, no follow-up support after payment, and investments stuck in big losses (30% reported).
This creates both money problems and stress for regular investors.
Another user, casuchitshah (India), received only generic advice that anyone could get for free, despite paying premium fees.
Impact on Investors: Money wasted on basic advice available freely elsewhere. No value addition despite paying premium fees.
Investors feel cheated after realizing they paid for common knowledge.
2. Complete Communication Breakdown Post-Payment
Multiple users say that once payment is made, the sales team and advisory team become completely silent.
Calls aren’t answered, emails go ignored, and promised support simply disappears.
Real User Reviews
rajraghavan936 (India) experienced total neglect after payment, with no response for 22 days despite multiple attempts to contact.
Impact on Investors: Investors feel abandoned after payment, unable to get guidance when market conditions change.
Another user, drrajshree4u, faced unauthorized deductions even after cancellation and received zero response from customer support.
Impact on Investors: Unauthorized deductions continue even after cancellation.
Customer support doesn’t exist, leading to money losses and broken trust.
3. Misleading Sales Tactics and False Guarantees
Sales representatives make big promises about guaranteed returns and personal support that never actually happen.
The gap between what’s promised and what’s delivered is huge.
Real User Review
manchestermanan31 (India) warns about false guarantees of 25% returns and suspects fake positive reviews.
Impact on Investors: Money loss through expensive memberships with no returns, loss of trust in advisory services, and potential violation of SEBI rules about guaranteed returns.
Also, according to Sundar Jagannathan on Quora, he faced harassment and privacy invasion with extremely personal questions being asked and recorded.
Impact on Investors: Privacy violations, unprofessional behavior, and harassment even after saying no.
This raises serious concerns about how they handle customer data and their ethics.
4. Below-Market Returns Despite Premium Charges
Even premium customers report returns that are much lower than bank fixed deposits or basic index mutual funds, despite paying big advisory fees.
Real User Review
daveprashant21 (India) watched his portfolio go negative over 1.5 years with no market timing advice, performing worse than basic index funds.
5. Operational Inefficiency and Stock Transfer Issues
Users report big delays in basic work like stock transfers and sales execution. The service quality doesn’t match premium pricing.
Real User Review
Thakurudayprataps (India) experienced 15-20 day delays in stock transfers and being forced to sell at prices below market rate.
Impact on Investors: Missing good market opportunities due to delayed execution, forced to sell at bad prices, and stuck with stocks you can’t sell.
This can cause big money losses in changing markets.
6. Allegations of Compliance and Ethical Issues
What’s Happening: Some users raise serious concerns about shariya compliance claims and overall business practices.
Real User Review
User ApexBlodhunder from Quora suspects positive reviews are fake and paid.
“Bottom line dont go with this company and waste your money, I have already done so, and hence wanted others not to invest in it. In my case, the service providers were also not helpful. Whatever good reviews you see online are all paid and are PR company.”
Impact on Investors: False representation of services, religious compliance concerns for specific investor groups, and alleged manipulation of online reviews to mislead potential customers.
Common Complaint Patterns Reported by Users
Drawing from the verified app reviews and the pattern of grievances visible across public platforms, the recurring themes are:
1. Communication breakdown after payment: Multiple users report that responsiveness drops sharply once payment is made — calls go unanswered, and follow-up requires repeated effort.
2. Underperformance relative to claims: Several long-term subscribers report hit ratios and portfolio performance significantly below what was marketed during the sales process, with some reporting performance worse than basic index funds over multi-year periods.
3. Premium pricing without proportional value: A recurring complaint is that the quality of advice received does not justify the premium fees charged, with some users describing the guidance as generic.
4. Difficulty obtaining support after subscribing. The templated response pattern to public complaints, directing users to call a number rather than resolving the issue visibly, is a pattern prospective subscribers should weigh carefully.
Is Equentis a Good Company?
This is the question every prospective subscriber is really asking, and the honest answer requires holding two facts at once.
What works in Equentis’s favour:
- Valid, active SEBI registration as an Investment Adviser since 2015.
- No official SEBI adjudication order or penalty on record.
- An established brand with over a decade of operating history.
- Structured research output with defined entry, target, and stop-loss levels.
What should give any prospective subscriber pause:
- A 2.2-star rating from 699 reviews on their own official app.
- Consistent, verifiable reports of poor post-payment communication.
- Multiple long-term subscribers reporting significant underperformance.
- A pattern of templated responses to public complaints without visible resolution.
Registration is not a performance guarantee. SEBI registration confirms regulatory authorisation to provide investment advice; it does not certify the quality of that advice or the firm’s service standards.
The volume and consistency of negative experiences from verifiable sources suggest that prospective subscribers should approach premium membership commitments, particularly the higher-tier plans, with significant caution and thorough independent verification.
How to Escalate a Complaint Against Equentis?
If your experience with Equentis matches the patterns above, underperformance, poor communication, or unauthorised deduction, here is the process to follow.
Step 1: Document Everything
Save your subscription agreement, payment receipts, all email and WhatsApp communication, and screenshots of any promises made during the sales process before raising a formal dispute.
Step 2: Raise the Issue in Writing Directly
Email Equentis’s official support channel stating your subscription details, what was promised, what was delivered, and your expected resolution. Keep a record of the date sent and any response received.
Step 3: File on SEBI SCORES
If unresolved, file a complaint at scores.gov.in, selecting “Investment Adviser” as the category and entering registration number INA000003874.
Attach all documented evidence.
Step 4: Escalate to SMART ODR
If SCORES does not produce resolution, SEBI’s SMART ODR portal provides a structured dispute resolution mechanism for unresolved financial disputes with registered intermediaries.
Need Help With Your Equentis Complaint?
Navigating a complaint against a SEBI-registered Investment Adviser can be difficult, particularly when the firm’s own grievance process leads nowhere.
Our team can help you:
- Review your documentation and assess whether your grievance has merit.
- Draft a clear, fact-based SEBI SCORES complaint.
- Guide you through escalation to SMART ODR if required.
- Help you understand your realistic options for resolution.
Conclusion
Equentis Wealth Advisory Services Limited, operating under the Research and Ranking brand, is a SEBI-registered Investment Adviser (INA000003874) founded by Manish Goel in 2009, with valid registration active since December 2015.
There is no official SEBI order against the firm at present. However, the firm’s own official Google Play app reflects a 2.2-star rating from 699 reviews, and a consistent, verifiable pattern of complaints regarding post-payment communication, underperformance relative to marketed claims, and unresolved grievances.
SEBI registration confirms regulatory authorisation — it does not guarantee service quality or investor satisfaction. Before committing to any premium membership plan, especially the higher-tier offerings priced above ₹50,000, verify the registration independently, request a genuine time-stamped track record, and review the publicly available app ratings and reviews directly.
Frequently Asked Questions
1. Is Equentis SEBI registered?
Yes. Equentis Wealth Advisory Services Limited is registered with SEBI as an Investment Adviser under registration number INA000003874, active since December 2015.
You can verify this on SEBI’s official intermediary portal.
2. Is Research and Ranking the same company as Equentis?
Yes. Research and Ranking is the consumer-facing brand name used by Equentis Wealth Advisory Services Limited. Both names refer to the same SEBI-registered legal entity.
3. Who is the founder of Equentis?
Equentis was founded by Manish Goel in 2009, who serves as Founder and Director. Co-founders include Arun Handa and Gaurav Goel.
4. How much does Equentis premium membership cost?
Pricing varies by plan and investable capital. The 5 IN 5 Strategy plan for smaller investors costs approximately ₹28,000 per year.
Higher-tier plans for investors with up to ₹1 crore or more range from ₹80,000 to ₹1,00,000 annually, typically billed in half-yearly instalments.
5. What is the Equentis app rating on Google Play?
As of June 2026, the official “Equentis – Research & Ranking” app holds a 2.2 out of 5 star rating from 699 reviews on Google Play, a notably low score that reflects a consistent pattern of subscriber complaints regarding service and performance.
6. Has SEBI taken any action against Equentis?
No official SEBI adjudication order or penalty notice has been publicly recorded against Equentis Wealth Advisory Services Limited as of the latest review.
The firm does have complaints registered on SEBI’s SCORES platform.
7. Can I get a refund from Equentis if I’m not satisfied?
Refund eligibility depends on the specific terms in your subscription agreement. Always confirm refund policies and cancellation terms in writing before subscribing, as verbal assurances during sales calls are not binding.
8. Where do I file a complaint against Equentis?
File on SEBI SCORES at scores.gov.in, selecting “Investment Adviser” as the category and entering registration number INA000003874.
If unresolved, you can escalate to SEBI’s SMART ODR portal for further dispute resolution.
9. Is Equentis associated with Bitcoin or Forex trading offers?
No. Equentis has publicly stated on its official website that fraudsters have impersonated the firm to promote Bitcoin and Forex schemes via WhatsApp, and that the company has no association with such offers.
Verify any communication claiming to be from Equentis only through their official website or registered contact channels.
Ever been promised high returns and dedicated support, only to find yourself ignored after making the payment? Many Indian investors claim they’ve faced exactly this with Equentis.
Let’s examine these experiences in detail and separate verified facts from personal opinions.
