Mumbai, March 16 -- Chairman of the Securities and Exchange Board of India (SEBI), Tuhin Kanta Pandey, on Monday highlighted key challenges facing the investment advisory ecosystem and outlined the regulator's roadmap to strengthen investor protection and improve the advisory framework.

Addressing the ARIA Aspire 2026 conference, Pandey noted that India's financial system has made significant progress in financial inclusion, but the next stage must focus on financial empowerment through unbiased and trustworthy financial advice.

Pandey expressed concern over the declining number of registered investment advisers (IAs) despite a rapid increase in the investor base.

"It is a matter of concern that the number of registered investment advi...