Choosing a financial advisor is one of the most critical decisions a retail investor makes. In an era where “fin-fluencers” and Telegram tipsters are everywhere, the promise of high-growth derivative strategies can be tempting.
One name that has recently gained attention in the options trading advisory space is Wealthy Ways.
If you have come across Wealthy Ways or its founder, Adarsh Dey, while looking for stock market research and derivative tips, you are likely looking for clarity.
So, is Wealthy Ways worth trusting your money with?
The purpose of this blog is to provide a neutral, factual overview of the entity, its regulatory standing, and the feedback shared by its users.
Before you commit a significant amount of capital or subscription fees, here is what the public record and recent reviews show.
Wealthy Ways SEBI Registered Or Not?
Wealthy Ways is a financial advisory firm operated as a sole proprietorship.
The entity focuses primarily on providing research and recommendations for the Indian equity and derivatives markets.
- Full Legal Name: Adarsh Dey (Proprietor of Wealthy Ways)
- Key Personnel: Adarsh Dey (Founder and Principal Research Analyst)
- SEBI Registration Type: Research Analyst (Individual)
- SEBI Registration Number: INH000018373
- Office Location: Kolkata, West Bengal
- Core Services: Derivative and options trading recommendations, specifically targeting BankNifty, Nifty, and Finifty.
- Pricing Structure: The entity’s flagship service is reported to be an annual subscription priced at approximately ₹1,77,000 per year.
- Service Delivery: Research alerts are typically provided via digital channels, offering 1–2 BankNifty/Nifty option calls daily and weekly Finifty alerts.
Is Wealthy Ways Genuine or Not?
When investors ask if a service is “genuine,” they are usually asking two different things: Is it legally authorized? And does it deliver on its promises?
From a legal standpoint, Wealthy Ways is genuine in that it holds a valid SEBI Research Analyst registration (INH000018373).
This means the entity has met the minimum qualification and net-worth criteria set by the regulator to provide research services.
However, “genuine” in the eyes of a retail investor often relates to the performance and transparency of the service.
Here, the picture is more complex. While the entity is legally compliant with registration norms, the high cost of subscription (nearly ₹1.8 Lakhs) versus the increasing volume of user complaints suggests that “genuineness” does not automatically translate to “profitability” or “satisfaction.”
A service can be legally registered and still result in significant financial losses for the client due to the inherent risks of options trading.
No SEBI orders, penalties, or show-cause notices against Wealthy Ways appear in publicly available regulatory records, as of the time of writing.
However, it is important to understand what SEBI registration does and does not mean.
A perpetual registration can still be revoked or suspended by SEBI if the entity violates applicable regulations. Registration status, though current and valid, is a baseline, not a permanent guarantee.
Wealthy Ways Safe Or Not?
The core of any financial service review lies in the experiences of those who have paid for the service. Recent data suggests a significant shift in the user experience trajectory for Wealthy Ways.
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Sharp Rise in Formal Complaints
Data from the FY 2025–26 period indicates a notable increase in grievances. While Wealthy Ways reportedly received only 2 complaints in FY 2024–25, that number jumped to 23 complaints in the following year.
As of March 2026, 9 of these complaints remained unresolved. This “tenfold increase” suggests that the firm’s support infrastructure may be struggling to keep pace with its growing user base or that the quality of recommendations has faced challenges
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Concerns Over High Subscription Fees
Many reviewers have highlighted the ₹1,77,000 annual fee as a significant “red flag.”
For a retail investor to break even on such a high fee, the capital deployed must be very large, and the win rate of the calls must be consistently high, something that is difficult to sustain in volatile markets
Beyond the formal complaint data, comments have appeared on social media platforms from users expressing dissatisfaction with the results.
One user alleged that following the service’s recommendations led to a loss of ₹20,000.
However, they are consistent with the rising complaint trend and reinforce the case for independent due diligence before subscribing.
What Investors Should Keep in Mind?
Before subscribing to any high-ticket advisory service like Wealthy Ways, keep these awareness tips in mind:
- Verify Independently: Never trust a registration number mentioned on a website. Always go to the SEBI Intermediary Portal and search by the registration number or name to ensure it is active.
- Performance vs. Screenshots: Be wary of “profit screenshots” shared on Telegram or WhatsApp. These can be selective. Demand an audited performance sheet or a P&L verified by a broker.
- The “Cost-to-Capital” Ratio: If you are paying ₹1.8 Lakhs for a subscription, and your trading capital is only ₹5 Lakhs, you are already “down” 36% before your first trade. Ensure the fee makes mathematical sense for your portfolio size.
- Options Trading is High Risk: SEBI’s own data shows that 9 out of 10 individual traders in the equity F&O segment incur losses. No advisor can eliminate this systemic risk.
- Get Terms in Writing: Ensure you have a clear document detailing the refund policy, the number of calls expected, and the support mechanism.
How To Report a Research Analyst?
If you are facing a dispute with a research analyst or advisory service regarding refunds, unmet service commitments, or misleading claims, follow these steps:
Step 1: Raise It With the Analyst First
Before approaching any regulator, first try to resolve the issue directly with the service provider.
Clearly explain what you were promised, what was delivered, and what resolution you are seeking. Keep proper records such as payment receipts, emails, chats, and any promotional claims shared before subscription.
Most regulatory systems expect proof of internal complaint resolution before escalation.
Step 2: File a Complaint in SCORES
If the issue remains unresolved, file a complaint through the SEBI SCORES portal.
Register using your PAN and contact details, select the relevant category (Research Analyst), and submit your complaint with supporting documents.
Once filed, the registered entity is required to respond within the prescribed regulatory timeline. SCORES is SEBI’s primary grievance redressal system for investors.
Step 3: Escalate Complaint Through SMART ODR
If SCORES does not lead to a satisfactory resolution, escalate the matter to SMART ODR, SEBI’s Online Dispute Resolution platform.
This stage involves structured mediation and conciliation between both parties and is generally faster and less formal than arbitration.
Step 4: Arbitration in Share Market
If SMART ODR mediation does not resolve the dispute, formal stock market arbitration is the final channel.
An independent arbitrator reviews the case and issues a binding decision. This step is typically reached only after SCORES and ODR have been exhausted.
Act promptly. The sooner you document and file, the stronger your case.
Need Help?
Navigating a regulatory complaint for the first time can feel overwhelming, especially when you are already dealing with financial loss and frustration.
The portals are unfamiliar, the documentation requirements are specific, and it can be hard to know whether your complaint is even framed in the right way.
That is exactly where we come in.
What we do:
- Case Review: We go through your documents and assess whether you have a valid complaint under SEBI’s Research Analyst Regulations
- Complaint Drafting: We help you structure your complaint clearly for SEBI SCORES, with all the key facts in the right format
- Filing Support: We walk you through the SCORES submission process step by step
- Follow-Up Strategy: If the entity’s response is inadequate or dismissive, we help you craft an effective reply
- Escalation Guidance: When SCORES isn’t enough, we help you prepare for SMART ODR and refer to arbitration where applicable
To get started, register with us and bring your payment records, complaint summary, and any communication you have had with Wealthy Ways. We’ll map the most effective path forward together.
Conclusion
Wealthy Ways holds a legitimate, verifiable SEBI Research Analyst registration obtained in August 2024 and is currently active with perpetual validity.
The entity publishes its complaint data as required by regulation, and no SEBI orders or penalties against it appear in the public record.
These are genuine positives that a fair review should acknowledge. At the same time, the complaint picture that Wealthy Ways’ own disclosures reveal from 2 complaints in their first operating year to 23 in FY 2025–26, with 9 still unresolved, is a trend that prospective subscribers should take seriously.
Combine that with a ₹1.77 lakh annual price point, the absence of independently audited performance records, and the inherent limitations of a sole proprietorship structure, and the picture becomes one that calls for careful evaluation rather than a quick decision.
SEBI registration is the floor, not the ceiling. It creates accountability and provides you with formal channels to seek redress if things go wrong.
Whether you choose to subscribe is a decision only you can make, but it should be one made with all the available facts in front of you.
You are the best guardian of your own money. Verify before you pay, document everything in writing, and know exactly where to go if you ever need to escalate.
