Last Updated on March 17, 2026 12:01 am by INDIAN AWAAZ
The Securities and Exchange Board of India – SEBI – has expressed concern over the decline in the number of registered investment advisers. Addressing Aspire 2026, an event organized by the Association of Registered Investment Advisers – ARIA in Mumbai, SEBI Chairman Tuhin Kanta Pandey said the gap between India’s expanding investor base and declining registered investment advisers is being filled by unregulated voices, like influencers, who present opinion as expertise and speculation as strategy. Calling such a scenario undesirable, Mr Pandey said it distorts investor behaviour, weakens discipline, and erodes trust.
Emphasizing that India has made major progress in financial inclusion, SEBI Chairman said the next stage is financial empowerment, which requires trustworthy advice – unbiased, transparent, and aligned to the investor’s long-term interest. With just one thousand registered investment advisers, Mr. Pandey said the registered advisory model needs to be made more viable, scalable, and attractive for qualified professionals.
Listing out steps taken to bring in more talent, Mr. Pandey said eligibility and documentation have been relaxed, besides making the transition from individual to non-individual entity easier. He added that registered advisers have also been given greater flexibility in communicating certified past performance data to clients on a one-to-one basis.
Urging advisers to help build a culture of Responsible Investing, Mr. Pandey said they must also actively spread awareness against fraud and cyber risk, besides encouraging clients to use tools such as Valid UPI and SEBI Check before making any payments.