Quick Summary
Finnovate Financial Services Pvt. Ltd. holds SEBI investment adviser registration INA000013518, valid from 19 June 2019 and perpetual. Its disclosure shows two complaints received and resolved in FY 2025-26, and zero in the seven years before. The website lists fees from ₹10,000 to ₹50,000 plus GST for most services, and asset based rates for larger portfolios. Its client figures differ between sections. We found no SEBI order against the firm as of 14 October 2026, which is not a clean certificate.
You may have come across Finnovate Financial Services Pvt. Ltd. through a webinar, a doctor friend’s mention or a search for retirement planning help.
Before you pay for a plan, it helps to see what the regulator’s listing and the firm’s own pages actually show.
This blog goes through the registration, the complaint record, the full price list, the claims on the website and the user reviews we found.
Use it as a set of questions to put to the firm in writing.
What Is Finnovate Financial Services Pvt. Ltd. and What Does It Offer?
Finnovate Financial Services Pvt. Ltd. is a company that says it was established in 2007 and offers what it calls financial fitness planning and wealth management. It is registered as an investment adviser.
The firm’s website says it focuses on goal based planning for professionals and doctors.
Its areas include retirement, wealth creation, tax planning, insurance, loans and estate planning.
Its services also include multi asset investing, investment tracking, financial literacy programmes, and tools and calculators.
The site carries masterclasses, webinars and case studies to help clients understand personal finance.
The Fee Only Claim
Finnovate says it follows a fee only, commission free model.
It also says its advice rests on your goals, your cash flows and your risk profile.
That is the model SEBI expects from a registered adviser, because an adviser should not earn commissions on products it recommends.
You can test the claim by asking where, in a sample plan, any fee or benefit from a product provider would be shown.
A Separate PMS Entity
The research notes that Finnovate Financial Services Pvt. Ltd. is a separate legal entity from Finnovate Investment Managers Pvt. Ltd., which is registered with SEBI as a portfolio manager. So this blog covers the adviser only.
If any offer mentions managing your money in a portfolio, ask which entity would hold your money and under which registration.
An adviser suggests, and a portfolio manager acts on your behalf.
Leadership Named On The Website
The website names Nehal Mota as Principal Officer and Priyanka Kelkar as Compliance Officer for the adviser.
These are the roles to whom a written grievance would go.
The firm also keeps pages on X, LinkedIn, YouTube, Instagram and Facebook.
They share education content, updates and information on services, so they are a place to see how the firm talks to the public.
Is Finnovate Financial Services Pvt. Ltd. SEBI Registered?
SEBI’s public listing, as reflected in our research, shows the firm as a registered investment adviser.
The points below are what the listing shows, and you should confirm them yourself before relying on this page.
- Registration number is INA000013518. The INA prefix marks an investment adviser, unlike INH for a research analyst or INP for a portfolio manager.
- Validity runs from 19 June 2019 and is listed as perpetual. The registration is therefore a little over seven years old as of October 2026.
- Address is Unit No. 703, 7th Floor, The Summit Business Bay, Andheri East, Mumbai 400093. The correspondence address is the same.
- Contact person is listed as Nehal Mota. We saw no telephone number in the listing.
You can run the check yourself in a few minutes.
A SEBI investment adviser registration number search lets you enter INA000013518 and compare the name, category and validity with what is described here.
A SEBI registered company search or a SEBI registered list on the regulator’s own pages does the same job.
Whichever you use, make sure the name on your payment page matches the registered name, which reads Finnovate Financial Services Pvt Ltd.
Registration shows that the entity is permitted to give investment advice.
It does not tell you how good the advice is, and it does not cover the tax filing and accounting services the firm also lists.
Finnovate Financial Services Complaints: What Do the Records Reveal?
Complaint tables show how many grievances reached the firm and what happened to them.
The firm’s annual table runs across eight financial years, so it is condensed below with the totals added up again.
Read the columns as carried forward, received, resolved and pending.
The first row groups the seven years with no activity.
|
Financial year |
Carried forward | Received | Resolved | Pending |
|
FY 2018 19 to FY 2024 25 (seven years) |
0 | 0 | 0 | 0 |
| FY 2025 26 | 0 | 2 | 2 |
0 |
| Grand total | 0 | 2 | 2 |
0 |
Adding the rows gives two complaints received and two resolved, with none pending.
The grand total in the disclosure matches our sum.
How To Read Two Complaints?
Two complaints after seven quiet years is a small number, and a count alone does not show quality.
The disclosure does not say how many clients the firm advises each year, so you cannot weigh it against size.
What the figures do show is that both complaints were closed by the end of March 2026.
The change from zero to two is worth a question, though it does not by itself establish a wider pattern.
You can ask the firm what the two complaints were about and whether it changed anything afterwards.
A calm, specific answer says more than the number.
What The Table Leaves Unclear
The published data does not describe the nature of the complaints or how they were resolved.
So nobody outside the firm can judge their significance.
The table begins at FY 2018 19, which is before the registration became valid in June 2019.
The website does not explain whether that year relates to an earlier registration, since the firm says it dates from 2007, or is simply a reporting choice.
The research did not find a monthly table, so we have no figures after March 2026.
Firms are expected to update complaint data by the 7th of each month, so ask for April to September 2026 or check the firm’s page for newer data.
If you ever face a problem of your own, our guide on a SEBI complaint against investment advisor shows how such cases usually run, and it is worth knowing before you pay.
In the sources we reviewed, we found no SEBI order against the firm as of 14 October 2026.
That is not a clean certificate, because orders can be published later and our search was limited.
Also Read: Fintoo Wealth Private Limited has planning prices differ by ₹2,100 across two pages, while the complaint table records 1 complaint but shows 0 in the grand-total.
What Should Investors Check in Finnovate Financial Services Fee Structure?
This firm does publish a price list, which many advisers do not.
The research found ten services, and the list below shows the starting fee the website states for each.
The word “onwards” appears against every price.
So each figure is a floor and not a final bill, and you need a written quote before you pay.
|
Service |
Starting fee stated on the website |
|
Financial Planning |
₹30,000 plus 18 percent GST |
|
Wealth Management |
₹40,000 a year for portfolios below ₹50 lakh, asset based above that |
| Retirement Planning |
₹50,000 plus GST as applicable |
| Tax Returns Review |
₹10,000 plus 18 percent GST |
| ITR Filing for Resident Indians |
₹10,000 plus 18 percent GST |
|
Business Income Restructuring |
₹30,000 plus 18 percent GST |
|
Business Entity and Revenue Planning |
₹50,000 plus 18 percent GST |
|
ITR Filing for Non Resident Indians |
₹50,000 plus 18 percent GST |
| Accounting Services |
₹25,000 a month plus 18 percent GST |
| Estate Planning |
₹35,000 plus 18 percent GST |
For wealth management above ₹50 lakh, the firm charges a percentage of assets under advisory a year.
The next table shows the rates, and you read it by finding your portfolio size in the left column.
|
Assets under advisory |
Mutual funds and direct equity | PMS or AIF |
|
₹50 lakh to below ₹2 crore |
0.75 percent a year | 1.00 percent a year |
| ₹2 crore to below ₹5 crore | 0.65 percent a year |
0.90 percent a year |
| ₹5 crore to below ₹10 crore | 0.60 percent a year |
0.80 percent a year |
| ₹10 crore and above | 0.50 percent a year |
0.70 percent a year |
What These Numbers Mean In Rupees
Here is a worked example using the firm’s own rates.
A mutual fund portfolio of ₹60 lakh at 0.75 percent comes to ₹45,000 a year before GST.
A portfolio of exactly ₹2 crore at 0.65 percent comes to ₹1,30,000.
One of ₹1.99 crore at 0.75 percent comes to ₹1,49,250, which is ₹19,250 more.
That gap suggests the rate may apply to the whole portfolio and not to slices of it.
The website content we reviewed does not say which way it works, so ask the firm to show a worked example.
The boundary at ₹50 lakh raises a similar point.
A portfolio just below it starts at ₹40,000, while one at ₹50 lakh at 0.75 percent comes to ₹37,500.
You can ask how the firm treats a portfolio near that line, and whether ₹40,000 is a minimum or a fixed amount.
The PMS and AIF Rate
The rate for PMS or AIF advice is higher in every band.
On a ₹1 crore portfolio, 1.00 percent against 0.75 percent is ₹25,000 more a year.
That is a feature of the firm’s pricing and not a finding.
It is a fair reason to ask how the firm makes sure advice depends on your needs and not on the fee band.
Where SEBI’s Limits Fit In
SEBI sets two permitted modes for investment advisers.
In fixed fee mode the cap is ₹1,51,000 per client per family per year, and in assets based mode the ceiling is 2.5 percent of assets under advice a year.
All the percentages above sit well below 2.5 percent.
The flat fees for investment advice are lower than ₹1,51,000, though “onwards” leaves the top figure open, so ask for the total for your family.
Several listed services are not investment advice, such as ITR filing and accounting.
Accounting at ₹25,000 a month is ₹3,00,000 a year, which would exceed the fixed fee cap if it counted as advice, so the firm should show how it keeps advisory fees apart from other services.
The Bond and NCD Charge
The research found a one time fee of 0.50 percent of the invested transaction value for bonds and NCDs.
On a ₹10 lakh bond purchase, that is ₹5,000.
SEBI’s rules describe fixed fee and assets based modes for advisers.
A charge linked to a transaction deserves a plain question to the firm about how it fits within those modes.
Ask for the answer in writing and check whether it is included in the cap the firm applies to your family.
Items To Get In Writing
Before you pay anything, ask for these items in writing.
- The total fee for your family, in rupees, for the year.
- Which listed services are investment advice and which are other services.
- Whether GST is added. A fee of ₹1,78,180 would equal the ₹1,51,000 cap plus 18 percent GST, so it would not breach the cap.
- The refund terms if you leave mid term.
If a payment disagreement stays open after the firm has replied, the SMART ODR portal lets a neutral conciliator look at the papers with you, so keep the receipt and the replies together.
Also Read: Growtheum Investment Advisors India Private Limited do not even clearly disclose fees, services or the advisory agreement.
What Do Finnovate Financial Services Claims, Client Numbers and Promotional Wording Say?
Advertising by an investment adviser is covered by SEBI’s rules, which expect fair and balanced communication.
The website carries several statements that a careful reader may want to weigh.
None of these is a finding that the firm has broken a rule.
They are points where the wording could leave a different impression from the one intended.
1. “India’s 1st and largest Financial Fitness Platform”
This is a claim of first place and largest size. The content we reviewed gives no source or measure for it.
You can ask what the firm is comparing itself with and how size is measured.
Treat the line as marketing until it is explained.
2. Three Different Client Numbers
The website mentions “3,500+ Families Served” in one place and “35,000+ Families Empowered” in another.
It also says “1,00,000+ Individuals Empowered”.
The numbers differ by a factor of ten and more.
The words served and empowered may count different things, and the content we reviewed does not define either.
3. ₹1,200 Crore of Assets
The firm says it has managed assets worth ₹1,200 crore.
Divided by 3,500 families, that is about ₹34 lakh per family.
An adviser advises on assets and does not usually manage them, so ask whether the figure means assets under advice.
Also ask whether it counts only fee paying clients.
4. Testimonial Outcomes
One client testimonial says goals were almost accomplished a few years earlier than expected.
A single story can feel convincing, but individual outcomes vary and a testimonial is not a promise.
SEBI does not allow assured returns in advice, so ask the firm to confirm that no result is being guaranteed.
Finnovate Financial Services Reviews
Reviews show how people experienced the firm, but they are only a few voices.
The three below are the ones in our research, and the platform and dates were not recorded.
They are individual opinions that we have not verified, and the firm may dispute them.
We have paraphrased them and left out any names.
1. A Reviewer On Login Problems
One reviewer wrote that the login process felt “buggy” and compared it to an unfinished app.
They said an OTP did not arrive by email and a later attempt showed a pending approval or invalid email message.
This is about the app experience and not about advice quality.
If you plan to use the app, test the login before paying.
2. A Reviewer On A Paid Session
Another reviewer said a session was held to work out a retirement number, and they paid for it.
They wrote that after the payment they could not reach the person or the helpdesk and urged caution.
Read it as one person’s account.
If you pay for any session, ask who your contact is, how to reach them and what the firm commits to after payment.
3. A Reviewer On Missed Contact
A third reviewer said service was slow even before they became a client.
They wrote that one phone number was switched off, and that a booked meeting went ahead with nobody joining.
Again, this is one account, but it suggests a practical test.
Before you pay, check that the listed contact routes work and that a booked meeting is confirmed in writing.
Taken together, the three reviews point at reachability and process.
They do not say anything about the quality of the advice itself, and three reviews cannot show a pattern.
Paid for a plan and now nobody picks up your calls?
Our team reviews your payment proof and the agreement, drafts a written grievance to the adviser, and takes it to the right SEBI channel if the reply falls short. Register with us for a free consultation.
Questions to Ask Finnovate Financial Services Pvt. Ltd. Before You Pay
The gaps above can be turned into a short set of questions.
Send them by email so you have a written reply, and wait for the answers before any money moves.
1. What is the total fee for my family?
Ask for the full rupee figure for the year, with GST, and which services inside it are investment advice. The word onwards alone does not give you a bill.
2. How is the percentage applied to my portfolio?
Ask for a worked example at your portfolio size. Use the ₹2 crore point in the AUA table to check whether the rate applies to the whole amount or only a slice.
3. What do your client numbers count?
Ask what served, empowered and managed mean, and whether the ₹1,200 crore is assets under advice. Keep the reply as a record.
4. Who is my contact after I pay?
Ask for a named contact, a working phone number and a reply time. Given the reviews we read, this is a fair thing to settle before payment.
5. How are disputes settled?
Ask whether the agreement sends disputes to arbitration. Reading up on arbitration in share market cases first helps you judge what such a clause would mean for you.
Also Read: Deepak Parnami Investment Adviser website provides no published advisory fees and displays a UPI QR code without explaining what it is for.
How Can Investors Raise Complaints Against Finnovate Financial Services?
The SEBI listing shows an email address for the contact person, and the website names the Principal Officer and the Compliance Officer.
Use email and keep every reply.
State your name, client ID or payment reference, the issue and the outcome you want within a reasonable time.
Address it to the Compliance Officer, Priyanka Kelkar, and copy the Principal Officer, Nehal Mota.
Give the firm a fair window to respond before you escalate.
SEBI expects intermediaries to handle complaints in an orderly way, and your dated emails show you followed that sequence.
If the firm does not reply or you disagree with its answer, the first official step is usually the regulator’s own online system.
The page on the complaint on SEBI SCORES route shows what to attach and how the case moves after you submit.
Keep copies of every reply you receive on that system. They matter if you later need to take the matter further.
Disclaimer
This blog is based on the firm’s published disclosures and publicly available SEBI records as of 14 October 2026. It does not allege wrongdoing, and the firm is welcome to share its side. User reviews are individual opinions that we have not verified. We could not independently confirm the firm’s client figures, the way its fee bands are applied, or the content of any agreement or policy beyond what the research showed.
Conclusion
Finnovate Financial Services Pvt. Ltd. holds a SEBI investment adviser registration, and the two complaints it reports are shown as resolved.
It also publishes a price list, which makes comparison easier than at many firms.
Before you pay, ask for the total family fee, a worked example of the percentage rates and a plain answer on the bond charge.
Ask what the client numbers and the ₹1,200 crore figure count, and keep every answer in writing.
Check the registration yourself, confirm a working contact route and match the payment account to the registered company name.
If the firm answers openly and promptly, you have a better basis to decide.
If a dispute arises later, file the grievance in writing first and use the escalation routes in order.
Keep your receipts, emails and screenshots in one folder.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
The SEBI listing shows it as an investment adviser under registration INA000013518, valid from 19 June 2019 and listed as perpetual. Confirm the details on SEBI's website and match the name on any payment page before you pay.
The annual disclosure shows two complaints received and two resolved in FY 2025 26, with zero in each of the seven earlier years. None are pending, and we found no monthly figures for later months.
The website lists starting fees from ₹10,000 to ₹50,000 plus GST for most services, and ₹25,000 a month for accounting. Wealth management above ₹50 lakh is charged as a percentage of assets, from 0.50 to 1.00 percent a year.
According to the research, they are separate legal entities. Finnovate Investment Managers Pvt. Ltd. is registered as a portfolio manager, so confirm which entity you are dealing with before signing anything.
Email the contact person in the SEBI listing, addressed to the Compliance Officer with the Principal Officer copied. Keep every reply, and if the answer falls short, escalate to the regulator in writing.
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