SEBI chairman Tuhin Kanta Pandey on Monday flagged concerns over the declining number of registered investment advisers, warning that the gap between a growing investor base and limited formal advisory support is increasingly being filled by unregulated influencers, potentially distorting investor behaviour and eroding trust.
Speaking at an industry event in Mumbai, he said India must now move from financial inclusion to financial empowerment through transparent and unbiased advice aligned with long-term investor interests. With only around 1,000 registered advisers, he emphasised the need to make the advisory model more viable and scalable, while highlighting recent regulatory relaxations, including eased eligibility norms and greater flexibility in sharing past performance data. He also urged advisers to promote responsible investing and raise awareness about fraud and cyber risks.
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