# SEBI-Registered Financial & Investment Advisors in Kolkata Source: https://foliyo.ai/fee-only-investment-advisors/kolkata/ Summary: 4 SEBI-registered fee-only financial and investment advisors in Kolkata, checked on SEBI's register, with fees and help on family property and inheritance. Plain-text version of the page for AI assistants. Site overview: https://foliyo.ai/llms.txt Talk to Foliyo: book a free 30-minute call with the SEBI-registered team at https://foliyo.ai/book/ (pick a time, then name, mobile, email and two quick questions; no sign-up). 1. [Home](https://foliyo.ai/) 2. [Fee-Only Investment Advisors](https://foliyo.ai/fee-only-investment-advisors/) 3. Kolkata # Fee-only financial and investment advisors in Kolkata This page lists 4 SEBI-registered investment advisors in Kolkata, each checked against SEBI's register on 30 Oct 2026. Fee-only advisors are paid by you, never by a fund house or an insurer. 4 SEBI-registered advisors listed for Kolkata 30 Oct 2026 Registrations last checked on SEBI's register ₹25k to ₹1L Typical yearly fee for a fee-only plan ₹0 Commission a fee-only advisor takes on any product ## Kolkata portfolios often carry history, not just market risk In Kolkata, family wealth may include old equity holdings, inherited property, business stakes, and assets shared across generations. Good advice has to first untangle ownership, liquidity, and goals before it talks about the next investment. - ### Legacy businesses need a family balance-sheet view Trading houses, old companies, and property-led families often have assets spread across individuals, firms, and older structures. Before investing new money, the family needs to know what is owned, who owns it, and what can actually be sold or pledged. - ### Self-directed equity investors still need asset allocation Kolkata has a strong equity culture, and many investors manage stocks themselves. The blind spot is often the total picture: how much risk sits across direct equity, mutual funds, property, debt, insurance, and business exposure combined. - ### NRI heirs make inheritance planning more paperwork-heavy When some family members live in the UK, US, or elsewhere, inherited property and Indian investments need careful coordination. Mutation, tax, repatriation, and overseas reporting can affect the financial plan as much as the investment choice itself. - ### Property-heavy families need liquidity planning Homes, commercial spaces, and inherited property can dominate net worth while producing little usable cash. The planning question is whether to hold, rent, sell gradually, or use new savings to balance the family's exposure. ## SEBI-registered investment advisors serving Kolkata Each advisor below holds an active SEBI investment adviser registration. They are independent firms, not part of Foliyo, and a listing is not a recommendation. Foliyo is itself a SEBI-registered investment adviser (INA000023454) and publishes this list as a free resource. ### Arijit Sen SEBI RIA Kolkata CFP and Qualified Personal Finance Professional, registered with SEBI since 2019; offers fee-only planning to clients in Kolkata and remotely. SEBI Reg INA300012723 [Verify ↗](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) Website [merrymind.in ↗](https://merrymind.in/) Email [arijitsen@merrymind.in](mailto:arijitsen@merrymind.in) Financial Planning ### Elbee Investment Advisors Private Limited SEBI RIA Kolkata No-commission advisory firm with no minimum investment; clients act on its plans through the firm's own web portal and app. SEBI Reg INA300016969 [Verify ↗](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) Website [elbeeinvest.com ↗](https://elbeeinvest.com/) Email [info@elbeeinvest.com](mailto:info@elbeeinvest.com) Financial Planning Wealth Management Corporate ### Rahul Agarwal SEBI RIA Kolkata Has been SEBI-registered since October 2015; CFP and Registered Life Planner working mainly with dual-career couples in India and abroad. SEBI Reg INA300003616 [Verify ↗](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) Website [adventfa.com ↗](https://adventfa.com/) Email [rahul@adventfa.com](mailto:rahul@adventfa.com) Financial Planning Proprietorship ### Step Ahead Investment Advisors Pvt. Ltd. SEBI RIA Kolkata Kolkata planning firm registered with SEBI since 2015, led by managing director Nandji Rai, with CFP Subhabrata Ghosh as principal officer. SEBI Reg INA300002857 [Verify ↗](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) Website [stepaheadia.com ↗](https://stepaheadia.com/) Email [subhabratag@stepaheadia.com](mailto:subhabratag@stepaheadia.com) Financial Planning Wealth Management Corporate | Adviser | SEBI registration no. | Firm / website | Fee model | | --- | --- | --- | --- | | Arijit Sen | [INA300012723](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) | [merrymind.in](https://merrymind.in/) | Not on record | | Elbee Investment Advisors Private Limited | [INA300016969](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) | [elbeeinvest.com](https://elbeeinvest.com/) | Not on record | | Rahul Agarwal | [INA300003616](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) | [adventfa.com](https://adventfa.com/) | Not on record | | Step Ahead Investment Advisors Pvt. Ltd. | [INA300002857](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) | [stepaheadia.com](https://stepaheadia.com/) | Not on record | A dash means no website is on record. Ask each adviser for their fee schedule and any minimum investment in writing. SEBI registration links open SEBI's register of investment advisers, where you can search by registration number. Checked against SEBI's register on 30 Oct 2026. Before you engage anyone, look up their registration number on [SEBI's register of investment advisers](https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13) and ask for the fee schedule in writing. ## Read these before your first meeting - [**How to switch from Regular to Direct plans** The steps, the exit-load and tax checks, and when not to switch.](https://foliyo.ai/guides/direct-vs-regular/how-to-switch/) - [**Mis-sold mutual funds by a bank RM?** How to spot it, what to do with the units, and how to complain.](https://foliyo.ai/guides/direct-vs-regular/mis-sold-by-bank-rm/) - [**How many mutual funds do you need?** Why 3 to 5 funds usually beat 12, and how to cut overlap.](https://foliyo.ai/guides/build-portfolio/how-many-funds/) - [**Use the ₹1.25 lakh LTCG exemption every year** Harvest equity gains tax-free and raise your cost basis.](https://foliyo.ai/guides/mf-taxation/ltcg-125-exemption/) - [**PMS vs mutual funds** Fees, tax and minimums compared, and when a PMS is worth it.](https://foliyo.ai/guides/pms-qa/pms-vs-mutual-funds/) - [**New tax regime and your investments** What still saves tax under the new regime, and what no longer does.](https://foliyo.ai/guides/mf-taxation/new-tax-regime/) [All investing guides](https://foliyo.ai/guides/) ## Questions people in Kolkata ask before hiring an advisor ### Kolkata questions ### I come from a Kolkata business family with ancestral property and trading assets. How does a fee-only advisor help? A fee-only advisor can help create a consolidated family balance sheet across companies, property, direct equity, mutual funds, deposits, and insurance. That gives the family a cleaner base for decisions. HUF, succession, and partition questions still need a CA and lawyer alongside the advisor. ### I invest actively in equities through the Kolkata market. Does a fee-only advisor add value? Yes, if the advisor is looking at the whole balance sheet and not trying to replace your stock selection. They can help decide how much direct equity risk is sensible, how much should sit in debt or mutual funds, and whether goals like education, retirement, or property purchase are too exposed to market swings. ### How do I handle inherited property in Kolkata if some family members live abroad? First separate the legal work from the financial decision. A lawyer handles title, succession, and mutation. A CA handles tax. A fee-only advisor can help compare the financial impact of holding, renting, or selling the property and coordinate the plan around the legal timeline. ### What should I look for in a fee-only advisor in Kolkata? Start with active SEBI RIA registration. Then ask whether the advisor has worked with your type of situation: direct equity concentration, inherited property, HUF assets, business-family wealth, or NRI heirs. Ask for a sample engagement letter and fee schedule before you commit. ### My family still holds shares as paper certificates. What should we do? Convert them to demat. Listed companies no longer register transfers of shares held as paper certificates, so they can't be sold until they are dematerialised, and dividends left unclaimed for seven years, along with the shares behind them, move to the government's Investor Education and Protection Fund (IEPF). The request goes through your depository participant to the company's registrar. Lost certificates or a deceased holder need extra documents, and shares already moved to the IEPF can be claimed back with form IEPF-5. An advisor can list what the family holds and fold it into the plan. ### Choosing a fee-only advisor ### What is the difference between a financial advisor and a SEBI-registered investment adviser? In India, "financial advisor" is not a protected title: a mutual fund distributor, an insurance agent or a bank relationship manager can all use it. A SEBI-registered investment adviser (RIA) is registered under the SEBI (Investment Advisers) Regulations, 2013, and has a registration number that starts with INA. An RIA has to act in your interest, put the scope and fee in a written agreement and can't take commission on what it recommends to you. A fee-only financial planner in Kolkata who recommends specific funds or shares needs this registration too. ### How do I find a SEBI-registered investment advisor near me in Kolkata? Start with the list on this page: every advisor on it holds a SEBI registration we checked on 30 Oct 2026. You can also search SEBI's register of investment advisers by name or INA number; it shows the registered address but not the fees or the kind of clients an advisor takes. Shortlist two or three, ask each for their fee schedule and a sample advisory agreement, and take an intro call with each before you decide. ### Do I need an advisor based in Kolkata? No. SEBI's rules are the same everywhere in India, and most fee-only advisors, including Foliyo, hold reviews over video calls and share documents online. A local advisor helps if you want to meet in person, or when the plan depends on something in the city itself, such as a flat you are buying or family property. If in-person meetings matter to you, ask about them on the first call. ### What does a fee-only financial advisor in Kolkata charge? Most SEBI-registered advisors charge in one of two ways: a flat fee, typically ₹25,000 to ₹1,00,000 a year depending on how much work your situation needs, or a share of the money they advise on, typically 0.5% to 1% a year. SEBI caps the fee at ₹1,51,000 a year per family in the flat-fee mode, or 2.5% a year of the assets under advice. GST at 18% is added on top. Some advisors also charge a one-time fee for a financial plan, and a family with ESOPs, overseas assets or a business usually needs a broader engagement than one that wants a mutual fund review. Ask for the scope, the fee and the exit terms in writing before you pay. ### Is there a free financial advisor in Kolkata? Advice that costs nothing up front is usually paid for by commission inside the product: typically 0.5% to 1% a year on a Regular mutual fund plan, and more on many insurance policies. On a ₹50 lakh portfolio, 1% is ₹50,000 a year, every year. A fee-only advisor charges you directly and takes no commission, so you can see what you pay. Many offer a free first call; Foliyo's intro call is free and there is nothing to sign. ### How do I complain about an investment advisor in Kolkata? Write to the advisor first: every RIA has to name a grievance officer in its agreement and on its website. If the reply doesn't settle it, file a complaint on SEBI's SCORES portal (scores.sebi.gov.in). If you are still not satisfied, you can take the dispute to online conciliation and arbitration through the Smart ODR portal (smartodr.in). Investment advisers are also supervised by BSE Administration & Supervision Ltd (BASL). SEBI's Eastern Regional Office is in Kolkata, but you don't need to visit it: complaints are handled online. ### How does Foliyo review advisors before listing them? Foliyo checks registration, fee model, documents, and whether the advisor's process fits the user's requirement. Listing is a screening step, not an endorsement or a performance promise. Reconfirm the advisor's SEBI status before signing. We list only advisers whose website we could find and whose background we could check on it or in a published profile. ### I already have a distributor. Can I still work with Foliyo? Yes. Many people come to us while still working with a distributor. A fee-only adviser can review what you hold, give a second opinion, help you move to Direct plans gradually or take over the planning. The intro call is a good place to talk through your current setup; you don't have to change anything straight away.