If you are thinking about paying for an Equentis subscription or you have already paid and things have not gone the way you expected, you are probably trying to figure out whether this company is worth trusting.
Equentis, which also goes by the name Research and Ranking, is a SEBI-registered investment advisory firm based in Mumbai.
It has been around since 2015, holds two separate SEBI registrations, and charges fees that go up to Rs. 1 lakh or more per year. It also has a 2.2 out of 5 rating from 699 verified reviews on Google Play.
That gap between the firm’s credentials and what real investors say about their experience is exactly what this page is about.
Equentis Wealth Advisory Services Review
Equentis Wealth Advisory Services Limited runs under the brand name Research and Ranking.
It is headquartered in Mumbai and operates across India through a combination of digital subscriptions, phone-based advisory, and portfolio management.
The firm has two separate SEBI registrations that cover different types of services.
SEBI Investment Adviser Registration: INA000003874
This registration covers personalised investment advice tailored to an individual client’s financial situation.
As a SEBI-registered IA, Equentis can legally advise you on which stocks or mutual funds to buy or sell based on your specific goals, risk appetite, and financial position.
This is different from a Research Analyst registration, which only covers general research reports for all subscribers equally.
SEBI Portfolio Management Services Registration: INP000008969
This registration covers managing a client’s portfolio directly. Under this licence, Equentis can take funds from investors, invest them in securities on their behalf, and charge management fees.
The minimum investment for PMS is Rs. 50 lakh, as mandated by SEBI.
If you are looking for a comprehensive Equentis PMS review, it is important to look at how this dual registration affects different tiers of investors:
- What this dual registration means for investors: Most Equentis subscribers engage with the IA side of the business through subscription plans.
The PMS side serves a smaller, higher-net-worth investor base. The complaints and concerns documented in this page primarily relate to the IA subscription business. - Subscription plans and pricing: Equentis offers multiple subscription tiers.
Based on documented investor accounts, the pricing ranges from approximately Rs. 28,000 per year for entry-level plans to Rs. 1 lakh or more annually for premium plans. The exact pricing depends on the plan chosen and the investable capital you disclose during onboarding.
The Equentis Verdict: Credentialed Firm or Risky Venture?
The honest answer is that it depends on what you were told before you paid and what you actually received.
On the credentials side, Equentis holds a valid SEBI Investment Adviser registration (INA000003874) and a Portfolio Management Services registration (INP000008969).
The company has been operating since 2015, which is a meaningful track record in India’s advisory space. The founder, Manish Goel, has genuine finance credentials. These are real positives.
On the experience side, 699 investors left reviews on the official Equentis app on Google Play and gave it an average of 2.2 out of 5. That is not a handful of complaints.
That is a documented pattern across a large number of paying subscribers.
The most common themes across those reviews are recommendations that did not perform as expected, difficulty getting support after losses, and a gap between what was promised during the sales process and what was actually delivered.
One investor paid Rs. 1.5 lakh in fees and was also guided into unlisted stocks, one of which declined by 98%. Another investor paid Rs. 32,000 for the MPO plan and reported a hit rate of just 5% on the recommendations.
A third investor says a named Equentis executive promised 40 to 50 percent annual returns to convert the sale.
These are not market risk stories.
These are specific, named cases with rupee amounts and documented conduct. Whether Equentis is good for you depends on whether these patterns match your situation or not.
If they do, and you are still asking, Is Equentis a good company?, this page will help you understand your options and what steps you can take next.
The Reality Behind the Reviews: What Real Investors Experience
These are specific, documented cases from named investors across public platforms.
Each case has enough factual detail to understand what happened and why it matters.
Case 1: ₹1.5 lakh in fees, ₹2 lakh in unlisted stocks, 98% decline
An investor claims to have paid around ₹1.5 lakh in subscription fees and invested ₹2 lakh in unlisted shares based on recommendations received during the engagement.
One of those investments reportedly lost 98% of its value, raising questions about risk disclosure and suitability.
Case 2: ₹32,000 paid for MPO plan, 5% hit rate
Another investor alleges that after paying ₹32,000 for Equentis’s MPO plan, only 5% of the recommendations achieved their stated targets.
The case raises questions about the gap between expectations created during the sales process and the service ultimately delivered.
Case 3: Alleged promise of 40–50% annual returns
One investor claims that an Equentis representative promised 40-50% annual returns during a sales call. If such assurances were made, they would raise important compliance questions under SEBI’s Investment Adviser Regulations.
For the complete details, supporting evidence, and regulatory analysis, see our article on Equentis Wealth Advisory complaints.
The App Rating Gap: Public Sentiments vs. Corporate Claims
The official Equentis app, published by Equentis Wealth Advisory Services Ltd and listed under SEBI registration INA000003874, has a 2.2 out of 5 rating from 699 verified reviews as of June 2026.
A 2.2 rating from 699 reviews is not a statistical outlier. It is a sustained pattern across a large and diverse reviewer base. The reviews span different plan types, different subscription periods, and different cities.
The consistency of the themes across those 699 reviews, recommendations not performing, support going quiet after losses, and sales promises not matching delivery, tells you something meaningful about the gap between how Equentis markets itself and what subscribers actually experience.
One important note: Equentis responds to almost every negative review on Google Play with a templated message asking the user to call their support number.
There is no visible resolution in any of the public threads. That response pattern is itself relevant information.
Warning Signs to Check Before Paying Equentis
Before paying for any Equentis plan, take a few minutes to verify some key details in writing. Doing so will help you understand exactly what you are buying and reduce the chances of disputes later.
Pay particular attention to the following warning signs:
- Check whether any return percentage was mentioned during the sales conversation. A SEBI-registered investment adviser cannot promise or imply guaranteed returns. If a specific percentage was discussed, ask for it in writing. If the representative refuses to provide it in writing, that is important information in itself.
- Get the exact fee and service scope confirmed in writing. Equentis plans vary significantly in price. Before making any payment, ensure that the agreement clearly specifies the plan name, the fee amount, what services are included, and the applicable refund policy.
- Ask whether unlisted stocks or alternative investments will be recommended. If the answer is yes, request a written risk disclosure that specifically addresses those instruments before committing any money.
- Understand what happens if recommendations do not perform. Ask the representative directly: What is the process if the hit rate is low? What options do I have if the recommendations consistently underperform? If the response is vague or immediately shifts all responsibility to market risk, treat that as a warning sign.
- Review the Google Play feedback yourself before subscribing. Read the most recent one-star reviews in full. They are often detailed, recent, and can provide additional context about the experience of paid subscribers.
Who Runs Equentis?
Equentis was founded by Manish Goel, who serves as Founder and Director.
The firm’s complaint contact is Rakesh Gupta, who is listed as the Grievance Officer.
For the full breakdown of Manish Goel’s background, the impersonation warning Equentis has officially issued, and what the ownership structure means for complaint filing, read: Equentis Owner.
Is the Equentis Telegram Channel Safe?
Several Telegram channels are impersonating Equentis, and at first glance, the genuine and fake channels can look almost identical.
Our investigation identified seven major red flags associated with one such fake channel, including alleged guaranteed-return claims, requests for payments to personal accounts, and links to offshore trading platforms.
Want to know whether the channel that contacted you is genuine?
Read our detailed guide, Equentis Telegram channel, to learn how to spot the warning signs and the steps you can take if you were targeted.
What to Do If You Have Suffered Losses?
If you paid Equentis and your experience matches any of the cases described on this page, the formal complaint process is available to you.
Because Equentis holds a SEBI IA registration, complaints go through SEBI SCORES at scores.gov.in using the intermediary type “Investment Adviser” and registration number INA000003874.
This is different from a Research Analyst complaint, and selecting the wrong intermediary type is one of the most common reasons valid complaints are delayed.
For the complete step-by-step process from evidence gathering to SCORES, SMART ODR, and arbitration, read: How to File a Complaint Against Equentis.
Need Help Filing a Complaint?
Our team files your SEBI SCORES complaint, prepares the documentation, and represents you through SMART ODR and arbitration.
Conclusion
Equentis holds two SEBI registrations, has been operating since 2015, and has a founder with real finance credentials.
It also has a 2.2 out of 5 rating from 699 verified app reviews, documented cases of unlisted stock losses, a 5 percent MPO hit rate, and at least one case of a named executive promising 40 to 50 percent annual returns.
Whether that picture makes Equentis worth paying for is a decision only you can make.
What this page gives you is the evidence on both sides, so you can make it with clear information rather than just marketing material.
Frequently Asked Questions
1. Is Equentis a good investment advisory?
Equentis holds valid SEBI registrations and has been operating since 2015.
However, 699 investors gave it a 2.2 out of 5 rating on Google Play, and documented cases include a 98% stock decline, a 5% hit rate on options recommendations, and return promises that were not honoured.
Whether it is good depends heavily on which plan you take and what was promised during the sales process.
2. What is the difference between Research and Ranking, and Equentis?
Research and Ranking is the consumer brand name. Equentis Wealth Advisory Services Limited is the legal entity behind it. Both names refer to the same SEBI-registered company.
Your contract and regulatory accountability sit with Equentis Wealth Advisory Services Limited.
3. How much does Equentis charge?
Subscription fees range from approximately Rs. 28,000 per year for entry plans to Rs. 1 lakh or more annually for premium plans. The PMS service requires a minimum investment of Rs. 50 lakh, as mandated by SEBI.
Always confirm the exact fee and what it covers in writing before paying.
4. Is Equentis SEBI registered?
Yes. Equentis holds two SEBI registrations: Investment Adviser registration INA000003874 and Portfolio Management Services registration INP000008969.
Both are active. You can verify either on SEBI’s intermediary portal at sebi.gov.in.
5. Can Equentis legally promise specific return percentages?
No. SEBI Investment Adviser Regulation 13(d) prohibits registered IAs from making statements that promise or imply assured returns.
If a specific return percentage was stated during a sales call, that statement is a compliance violation and forms the basis of a formal complaint.
6. What should I do if an Equentis recommendation caused me a loss?
Document the specific recommendation, the date it was given, the action you took based on it, and the resulting loss. If a return promise or guaranteed return language was used to sell the service, document that too.
Then file on SEBI SCORES using the Investment Adviser category and registration number INA000003874.
7. How do I file a complaint against Equentis?
File on SEBI SCORES at scores.gov.in. Select Investment Adviser as the intermediary type and enter registration number INA000003874.
This is the correct category for Equentis complaints. For the full step-by-step process, read our dedicated complaint guide.
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