3 min read · Updated 11 Nov 2026

Pooled plans

A pool is a plan many analysts take part in. Pick the kind of research you want (stock calls, long-term research and model portfolios, F&O and trading calls, or everything) and every analyst in that pool sends you theirs.

Who you are dealing with

Each analyst in a pool is a SEBI-registered research analyst, and you are their client in the ordinary way: their terms, Most Important Terms and Conditions (MITC) and investor charter bind you both, they check your KYC with a KYC registration agency, keep you on their client register, and count you for their SEBI deposit. The pool page lists them in a fair random order. We do not rank, rate or praise analysts, and performance appears only as PaRRVA publishes it.

1. 1

   You and your PAN

   Individuals and HUFs give a PAN; declared family members share SEBI's fee cap with you. You also agree that one KYC check is recorded by every analyst on your roster.

2. 2

   KYC

   One check with a KYC registration agency, recorded for each analyst. Each stays responsible for your KYC as its client.

3. 3

   Read and sign once

   One Aadhaar e-sign covers the pool terms and, for every analyst on your roster, their terms, MITC, investor charter and a pooled-plan addendum stating how their fee from you is worked out.

4. 4

   Start the mandate

   The plan renews monthly until you cancel. Your bank or UPI app tells you before each debit.

How the fee is divided

Your payment is split at the payment gateway into each analyst's own account; nothing settles to Jivani Markets. Of your fee for a period (less GST where an analyst charges it and the gateway's charge at cost), one part is divided equally among every analyst on your roster who published to the pool in that period, and the rest in proportion to how many of each analyst's pieces you opened. If you opened nothing, the whole amount is divided equally. An analyst who published nothing receives nothing. Nothing in the division depends on returns or any measure of performance. The exact shares are on the pool page.

At the end of each period you get a fee statement in each analyst's name, under My research → Analysts → Pooled plans → Fee statements.

New analysts

If an analyst joins your pool later, you are asked first. Read their terms in the app and say yes or no thanks; nothing of theirs is delivered until you accept. Your price does not change.

Cancelling

Cancel any time from My research. The unexpired part of the month comes back to you pro rata, with no breakage fee, and the analysts' held shares are reduced in the same proportion.

Fee cap

SEBI caps what a family pays one analyst at ₹1,51,000 a year, across all that analyst's channels. The pool formula never gives an analyst more than their remaining room; the excess goes to the rest of your roster.