Wealth Consultant Review: SEBI Registration, Complaints and Red Flags

If you’re reading this wealth consultant review before paying for OptionEdge or WealthPlus, start with this fact. The firm’s own investor disclosure page admits a regulatory matter is under appeal before the Securities Appellate Tribunal.

Wealth Consultant is run by Ankit Gupta under SEBI registration INH100007231, and it sells options and swing trading alerts through WhatsApp and Telegram.

Before you check pricing or track record claims, here’s what that SAT appeal means and what else sits in the fine print.

Is Wealth Consultant a Good Company or Not?

Wealth Consultant is registered with SEBI, and its pricing stays within the regulatory fee cap. It isn’t an unregistered or illegally priced operation. That’s the good news, and it matters.

The caution comes from three things the firm discloses about itself rather than hides: a pending SAT appeal it never explains on the site, a grievance structure where one person handles every stage of your complaint, and a refund clause that blocks payouts for the exact reason most clients cancel.

None of these facts alone prove wrongdoing. Together, they mean you should treat this firm the way you’d treat any advisor with an open regulatory matter.

Ask direct questions before you pay, and keep every written response.

Who Runs Wealth Consultant and What It Sells

Wealth Consultant isn’t a company in the corporate sense. Ankit Gupta owns and runs it as an individual proprietorship, and he states he has more than 15 years of market experience.

The registered address on file is House No 414, Ward No 15, Moti Colony, Palwal, Faridabad, Haryana, 121102.

The firm runs two research tracks. OptionEdge Research covers options trading alerts on Nifty and Bank Nifty.

WealthPlus Research covers swing trading and breakout setups on individual stocks.

Both reach you through real time WhatsApp alerts and a Telegram channel rather than a dashboard or app.

That means your only proof of what was recommended, and when, is whatever you personally saved from those chats.

Because Ankit Gupta is the sole proprietor, every business decision, every price change, and every response to a complaint traces back to one person.

Keep that in mind, because the same one person problem shows up again in how Wealth Consultant handles grievances.

Is Wealth Consultant SEBI Registered?

Yes. Wealth Consultant holds SEBI registration number INH100007231, granted on July 9, 2019, and it also carries BSE enlistment number 5349.

Per the firm’s own disclosure, the registration stays active and permanent unless SEBI suspends or cancels it.

Registration confirms Ankit Gupta cleared SEBI’s certification and disclosure requirements to operate as a research analyst.

It doesn’t confirm that every trade call will work out, and it doesn’t mean the firm is free of regulatory scrutiny, which we cover further down this page.

Wealth Consultant Pricing and the SEBI Fee Cap

SEBI caps what any individual research analyst can charge a single client family at Rs. 1,51,000 per year across all subscriptions combined.

Wealth Consultant’s published pricing sits comfortably under that ceiling.

OptionEdge Research starts at Rs. 5,000 for one month and includes 15 to 25 Nifty, Bank Nifty, and stock option ideas per month.

WealthPlus Research starts at Rs. 7,000 for three months and includes 8 to 12 stock ideas per month built around momentum and breakout setups.

Even if a client subscribed to both tracks for a full year, the total would stay within the SEBI cap.

What Wealth Consultant’s Complaint Data Actually Shows

Every SEBI registered research analyst must publish standardized complaint disclosure tables, and Wealth Consultant does this on its site.

Read them closely, because they tell a more specific story than a quick glance suggests.

Complaint Data Disclosures

The website lists grievance data up to July 2026, broken into three tables. Here’s what each one shows.

Current month summary, month ending July 2026

Sr. No.	Received From	Pending at End of Last Month	Received	Resolved	Total Pending	Pending > 3 Months	Avg. Resolution Time
1	Directly from Investors	0	0	0	0	0	0 Days
2	SEBI (SCORES)	0	0	0	0	0	0 Days
3	Other Sources	0	0	0	0	0	0 Days
Grand Total		0	0	0	0	0	0 Days

Monthly disposal trend, current financial year

Sr. No.	Month	Carried Forward from Previous Month	Received	Resolved	Pending
1	April 2026	0	0	0	0
2	May 2026	0	0	0	0
3	June 2026	0	0	0	0
Grand Total		0	0	0	0

Annual disposal trend

Sr. No.	Year	Carried Forward from Previous Year	Received	Resolved	Pending
1 to 6	2019 to 2025	0	0	0	0
7	2025 to 2026	0	2	2	0
Grand Total		0	2	2	0

The monthly disclosure grid for the period ending July 2026 shows zero complaints received, zero pending, and zero resolved across every category, whether from direct investors, SEBI SCORES, or other sources.

The monthly trend table for the current financial year, covering April, May, and June 2026, also shows zero across the board.

The annual disposal table tells a different story.

For the 2025 to 2026 financial year, it records two complaints received and two resolved, with nothing carried forward and nothing pending.

Every year before that, going back to 2019, shows zero.

So the annual table confirms two complaints existed and were closed during a year where every matching monthly table on the same page reads zero.

The firm doesn’t explain this gap anywhere on the disclosure page.

This kind of mismatch is worth raising with the firm directly, or through a SCORES SEBI complaint, rather than assuming the worst.

The Red Flags in Wealth Consultant’s Fine Print

Before you subscribe, look past the registration itself. Three things buried in the firm’s own disclosures are worth reading twice.

1. The SAT Appeal Wealth Consultant Hasn’t Explained

Buried inside the Disciplinary History section of the firm’s disclosure, Wealth Consultant states that a regulatory matter is under appeal before the Securities Appellate Tribunal.

SAT is the specialized tribunal where entities appeal SEBI orders, including penalties, suspensions, or other adverse directions.

An appeal at SAT doesn’t happen without an underlying SEBI order to appeal in the first place.

So this disclosure means SEBI issued some adverse action against Ankit Gupta earlier, and that action is now being contested.

The site doesn’t name the order, its date, or what it concerns, so the specific violation SEBI found isn’t something this page can confirm.

If you’re already subscribed and this is the first time you’re seeing this, ask the firm directly for the SEBI order number under appeal.

A registered analyst must disclose material regulatory actions, and a vague reference without an order number isn’t a complete disclosure.

2. One Person, Every Role in the Grievance Matrix

Every SEBI registered analyst must publish a grievance escalation matrix showing who handles a complaint at each stage, from first contact through to the compliance officer and principal officer.

Wealth Consultant’s matrix lists Ankit Gupta as the customer care agent, the head of customer care, the compliance officer, the CEO, and the principal officer.

In practice, every escalation level in your complaint routes back to the same person you’re already complaining about.

There’s no independent internal reviewer built into the structure the firm has published.

That’s not a violation on its own, since sole proprietorships are allowed under SEBI’s research analyst framework. But it does mean an internal escalation is unlikely to produce a different outcome than your first message did.

3. The Pro Rata Refund Clause and Its Loophole

Wealth Consultant’s refund policy states that a client who ends a subscription early gets a pro rata refund for the months not yet used.

Read on its own, that sounds like a fair, standard clause.

The same policy also lists non refundable scenarios, and one of them covers losses from market volatility or trading decisions, along with general dissatisfaction connected to market performance.

Since most retail clients who cancel a research subscription do so because the calls lost money or underperformed, this clause covers most of the real reasons a client would ask for a refund in the first place.

The pro rata promise and the non refundable exclusion sit in tension with each other. The firm’s terms don’t clarify which one wins when your reason for canceling touches both.

What to Do If You Already Paid Wealth Consultant

Wealth Consultant is registered, priced within the SEBI cap, and transparent enough to disclose its own SAT appeal rather than bury it.

None of that removes the need to ask specific questions before you pay, especially about the pending appeal and the refund exclusions.

You have grounds to act if you weren’t told about the pending SAT appeal before you paid, if a refund request was denied under the market volatility exclusion when your real complaint was about the escalation process, or if your written complaint to Ankit Gupta went nowhere because he sits at every stage of the grievance matrix.

Because Wealth Consultant holds a SEBI RA registration, filing a complaint against SEBI registered research analyst walks you through what SEBI expects in your complaint description, including registration number INH100007231 and Ankit Gupta’s name as the registered proprietor.

If that doesn’t resolve things and you need a binding decision, arbitration through the SMART ODR portal is the next step, and it often covers money recovery rather than just a procedural response from the firm.

Chasing a one person grievance matrix on your own takes time you may not have. Our team can file your complaint, prepare the documentation, and represent you through SCORES, SMART ODR, and arbitration. Register with us for a free consultation.

The Bottom Line on Wealth Consultant

Wealth Consultant is a SEBI registered Research Analyst in Palwal, Faridabad, operated by Ankit Gupta under registration INH100007231.

The registration is real. The two service tracks, OptionEdge and WealthPlus, exist and are priced within the SEBI fee cap.

The WhatsApp and Telegram delivery model is operational.

Alongside this, the firm’s own public disclosures show a pending SAT appeal outlined only in brief, with no order number or subject given, a mismatch between the monthly and annual complaint tables on the same page, a grievance matrix where one person holds every escalation role, and a refund policy whose exclusions cover most of the reasons a retail client actually cancels.

These aren’t speculative concerns. They’re observations from the firm’s own published content. Weigh them before you subscribe.

Frequently Asked Questions

What does a pending SAT appeal mean if I'm already subscribed to this firm?

The SEBI order behind the appeal isn't final yet, and the firm can keep operating since an appeal doesn't suspend registration automatically. If you're an existing client, ask in writing for the order number and current status, and keep that response for your records.

How can I check a research analyst's SEBI registration myself instead of trusting the firm's website?

SEBI publishes a searchable list of registered intermediaries at sebi.gov.in, including research analysts, so you can look up a registration number directly instead of relying on the firm's own claims. This takes a few minutes and shows whether the registration is active, suspended, or cancelled today.

What is the difference between SEBI SCORES and arbitration?

SCORES is SEBI's online portal for filing an initial complaint against a registered intermediary, and it's usually the first step. Arbitration through NSE, BSE, or the SMART ODR platform matters when SCORES doesn't resolve the dispute and you need a binding decision, often involving money recovery.

If a firm's monthly and annual complaint numbers don't match, who do I raise that with?

Raise a data discrepancy like this directly with SEBI through the SCORES portal, since accurate disclosure is a compliance requirement for every registered analyst, not optional. You don't need a personal complaint against the firm to flag that its published numbers are inconsistent.