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Market Intelligence › Basic Terminologies
Who can give general research and who can give you a personalised plan
Published by The Retail Trader · JUL 22, 2026 · Advisory & Research
Both can be SEBI registered, but their work and their responsibility are different. Understanding this difference tells you what you are actually receiving.
A research analyst's job is to produce research reports on securities — they are general, the same for everyone. They cannot give advice based on your personal situation.
An investment adviser's job is to give personalised advice. For that they must assess your income, goals and risk profile, and keep records of it.
This difference shows up in everyday experience:
• A "buy call" is broadcast research, not advice — even if it arrives under your name.
• For personalised advice, an adviser has to take your risk profile.
• The adviser's fee model must be disclosed.
• One entity cannot do both jobs with the same client.
If someone is telling you how much to invest without knowing your income, liabilities and horizon, that is not advice — it is an opinion that was not made for you. Whether it turns out right or wrong comes later.
This article is for education only — it is not a buy or sell recommendation, makes no claim of guaranteed returns, and is not advisory. Rules, rates and mechanics are changed from time to time by the exchanges, SEBI and RBI, so verify every number yourself with your broker or an official source.