Hi Alok
Over time, I’ve subscribed to multiple advisory services, but based on my personal experience and consistent performance, i now narrowed it down to just three that i truly trust my money with
SP Tulsian
PA Wealth
Katalyst Wealth
After facing several drawbacks with other advisory firms, these three have stood out for their reliability and results
Hey Jay Shukla,
Have you taken advisory services from Nine One Capital or Zen Nivesh? If yes, please share your experience and the returns. I’m planning to buy a new advisory service—your review would be highly appreciated.
Hi Manoj
Thanks for reaching out.
I am sharing my comments for each one of them below
Zen Nivesh Stock Advisory:
Overview: They offer research on specific companies and share suggestive buying/ selling levels. They don’t provide allocation %. They focus on micro-cap companies (mCap < Rs 3,000 cr)
Research reports: Great quality and depth. Reports are verry well researched. They dont provide financial models
Support and investment hand-holding: Awesome. You can reach out to the team for any queries/ additional understanding you need for the recommended companies. The team is verry approachable and helpfull.
Returns: Can’t really comment as they started this new offering recently in October 2025. (Before this they were operating under Smart SyncServices)
NineOne Capital:
Overview: They offer research on specific companies and share suggestive buying/ selling levels & allocation %. They focus on micro-cap companies (mCap < Rs 3,000 cr)
Research reports: Decent. the depth is not as detailed as ZenNivesh. Reports are are good enough to form preliminary view. I find their financial models verry usefull.
Support and investment hand-holding: Good enough (personally i didnt find him as good as ZenNivesh - but it was good enough)
Returns: Can’t really comment as I have subscribed recently (~2 months back)
Note: All the above comments are my personal view, which can be biased. I am also a novice investor and not into equity research for full-time (so consider my views with a pinch of salt).
Dont subscribe zen nivesh third class research advisory…
@Yugank_Mishra Can you please explain a bit more on why you think so ?
I have tried the following advisory services and am currently a paid subscriber to the below:
1. SOIC. They have 3 products: Long Term Advisory, Global Advisory, and Flexicap Advisory. Global and Flexicap are buy/sell reco desks; Long Term is an idea generation desk. All three come with detailed reports. AFAIK they’re not onboarding new customers on the buy/sell products (Global/Flexicap) currently.
Level of depth is outstanding across all three. On the Global desk I’ve genuinely made good money because they captured the photonics and memory rally in the US quite well. Indian markets, especially SMID, haven’t done well at a macro level and I’ve only been on SOIC India for ~6 months, but parts of their reco basket have performed very well. SOIC is 2 to 3 years old as an advisory and they’ve identified quite a few multi-baggers in that window. A friend of mine has been on the India desk since early days and rates it highly. Overall I quite like it.
2. Nine-One Capital. Micro-cap only, a bit expensive, but honestly worth it. The level of depth Gaurav goes into is unparalleled. They talk to the entire ecosystem (suppliers, vendors, customers, promoters). Their basket has done really well in the April rally and the picks look like good long-term compounders if you can stomach the volatility. This is the most recent of the three, so the track record is short. I have high conviction on the picks given the research depth, but only time will tell.
3. Katalyst Wealth. Of the three, this has the fewest recos in a year (5 to 6 ideas) and they disclose it upfront on the subscription page, so you need to be patient and subscribe for 2 to 3 years to see the impact. This is the oldest of the three (active since ~2011), which makes the track record the most reliable signal in this list. Their Alpha+ tracker portfolio has compounded at north of 18% CAGR over 7.5 years (Aug’18 to Mar’26). I haven’t spent too much time on their recos personally, but they have a bunch of multi-baggers on the books and the longevity of the advisory itself is a positive signal.
Caveats:
I’ve spent <1 year on all these subscriptions, so too early for me to personally comment on returns
Ideally Nine-One and Katalyst should be enough for you and you shouldn’t go beyond these two for micro and small cap ideas. These will also cost you ₹75 to 80k yearly combined
P.S. If you’re still figuring out your own process, a good starter combo is Katalyst Wealth + Intelsense (Hitpicks / Quantamental strategy, ~₹12 to 15k a year). Katalyst gives you the long-track-record anchor with low reco frequency, and Intelsense is more frequent and active so you’ll see more deal flow and get reps in faster. As you build your process, you can figure out where to go from there.
Other names worth looking at:
Best strategy is select only 2 advisory services at a time, and explore it for 6-9 months. This generally gives you sufficient idea, whether it suits your risk and temperament. Some of these services often recommend Micro-caps and Small-caps which move up substantially due to their subscriber base, and it could be difficult to buy below the recommended price. So patience is required to enter at right price in booming market.
Also, they will churn 12-24 ideas per year and you have to keep analyzing all those ideas, perform due-diligence and eventually invest based on your conviction.
So you should be careful before subscribing to any Paid Service.
Is it not very costly? I mean if you are paying 80000-100000 per year, what is your expectation? Not less than 20 percent in my opinion. Is it possible? I am sure this is not possible in bearish phase. And in bullish phase anyone can get this percent. And your portfolio must be adequate to cover this payment. So people must have portfolio of 1 cr or above to opt for these subscriptions.
Can anyone guide me what should be minimum portfolio for subscribing to such services @50000, @100000 etc.
I have 1 crore plus portfolio still 50k a year fee feels hefty and undoable for me. I haven’t spent that much on anything. Maybe it’s the middle class mindset I was brought up with.
Anyways I found 91 capital subtrack and I’m really liking them. They had a post on a jeweller and it was not mentioned who it was but I got the idea. I researched it and liked that stock and bought it.
Also I don’t imagine that if I had their subscription, I would not have just bought what they recommended. I would have done my due diligence on top of that and built my conviction.
This free Blog will also likely give me 1- 2 ideas a year and that is enough for me. I follow Buffett punch hole investing.
@Virat_Chhikara can you provide link to the blog please?
Advisory should be looked at for idea generation approach . Sometimes it helps to connect dot better.
Sometime you may strike upon a great idea which can get you outsized return .
So i dont think advisory return make more difference its work of advisory and 1/2 good ideas in a year could do good for portfolio.
From a financial stand point way I would look at is spending 0.50 -1% of portfolio during time portfolio is lower less than 1.5 cr .
Post which even 1-1.5 lac would be more than enough as you will not hold onto many and find advisory which suits your style of investing.
Like stock you may need to try multiple before you settle onto something.
Happy investing
Hi Jay,
About Bastion Research.
I already knew about the founders being from the same city. However i further got a positive review from one of the fund manager i earlier worked for and Anil Tulsiram’s post about their detailed and insightful reports.
I have been a subscriber for almost like 2yrs.
What I liked [personal opinion]:
On performance side: I didnt invest in all the companies they have come up with reports [wont be mentioning the name]. But that helped me build my conviction.
so overall, no multibaggers in 2yrs but few stocks made 50%+ returns and a couple of them closed in negatives too.
Hope it helps.
Any good advisory for US stocks? I am an SOIC Global subscriber but they are closing it in lieu of AIF
Just an contra view on Advisory services based on using very few of them like TechnoFunda Picks by Hitesh and Abhishek Basumallick during Covid times when they launched,my idea was to try Techno funda which i am still not good at but somehow even after making money, i felt it didn’t suit my style of investing as its difficult for myself to keep churning every few weeks due to busy work schedule that time.
I even subscribed to thewrap by Tar when it was launched for a year but i felt you get sort of locked-in to that community, think in similar fashion as multiple members and somehow don’t grow yourself as an investor. Same with my Technofunda Silver membership by Vivek Mashrani which has evolved nicely to current Diamond membership which does good work based on my interaction with few members during an annual event
Instead what i found more useful is to join some sector specific paid sessions , network community groups/events like VP offline meets, Ald(alpha affairs youtube channel) , HIE(Hyderabad Investing Enthusiasts ) which are mostly discussing ideas at various frequencies, some do factory visits(not a member of any of them, alphawealth avenue, Sadhan ,valueeducator etc) and follow few good practitioners who can help you become better as an investor rather relying only on advisory services
I have met few folks who are happy with PMS services, need spoon feeding and advisory services works perfectly for them too but above works better for a full time investor like myself
Note : Not promoting any services, sharing practical knowledge after following/knowing them for a while
Your observations look interesting and useful.
Though I am using Advisory Service (only 1 or 2) for many years, I use it as a starting point, and then take a deep dive into the business to build my own understanding, build own conviction and buy only very few stocks as there recommendations are very high in number for a retail investor.
They also make mistakes, since they are generally under pressure to recommend stocks even when markets are overvalued. Even if an individual stock may look fairly valued, it corrects after deep market corrections. Valuations sometimes are ignored because they have to recommend few stocks every now and then.
But it can help to find few useful ideas.
You must build your own process and framework, portfolio structure, max weight for each stock, diversification across sectors and market caps on your own.
If you build your own process around those advisory service, it can help to build a reasonably good portfolio. Also it might be necessary to decide your own target price as you may like to book profits as per your own risk reward framework.
Thought of sharing my perspective.
I find it pretty underwhelming if you did not find any multibaggers in 2 yrs after paying for super advisory. From my DIY approach I found many multibaggers in last one year like Sterlite technologies, hfcl, mtar,bajaj consumer,td power, knowledge marine, quality power, auroflex, syrma,bhagyanagar, stallion,laurus, belrise, imfa and many more. But problem with me is that there are many duds where I lost big money. So, to me, PMS should be more dynamic and result oriented to make me go for them.
This is my thinking. If you don’t have time and energy then you can go for them. Otherwise wise you can do lot better yourself with better discipline and keeping your ears and eyes open. And be prepared for shocks.
My overall 2 cents on this aspect. Personal Opinion.
Whichever services you take, make sure the total cost comes around 1 to3 % of your stock portfolio. This includes the paid subscriptions for say, Screener.in, Tijori etc.
Definitely not above 5%.
Many times, we forget this and waste more money on such servies.
I have screener, tijori, SOIC regular, Wrap. Dont have any stock advisory services
Just sharing as a personal thought.
