First time investors in DEMAT accounts identify as a niche research area. First time retail investors and their irrational behavior has been a matter of extensive research especially as the global policy framework is mulling increase in retail investor’s capital market participation on global basis. The respective issues of dimensionality and conceptualization of ‘first time retail investor’s investment decision making’ are getting extensive research focus. First time retail investors typically identify as the set of investors who have just started ploughing their savings as parked in bank accounts or in term deposits or elsewhere into capital markets in lieu of higher returns. Scholars are of viewpoint that ‘first time retail investor’s investment decision making’ identifies as a multi-dimensional research construct involving wealth self-management and contemporary control over returns perspective and protean orientations. As such this paper relies on theoretical exploration of phenomenon with three broad research questions that seek to figure out the underlying lateral research paradigms guiding financial decision making across first time investor.