FPSB aims to create 10k financial planners in 5 yrs

CFP professionals across the world are 203,312. India has seen 17% growth in the number of CFP professionals. The country was placed in the top three globally

Hyderabad: US-based Financial Planning Standards Board Ltd (FPSB) has set an ambitious target to create around 7,500-10,000 Certified Financial Planners (CFPs) in India over next five years. The owner of the international CFP certification programme has announced that the number of CFP professionals grew by 17.6 per cent last year with 2,338 CFP professionals in the country by the end of December 2021.

"Among 2,338 CFP professionals in India, about 80 are from Hyderabad. Among 2,400 students enrolled for the certification programme this year, around 250-300 are from this city alone. We have partnered with 3rd Eye Academy for Financial Studies to provide training to our students in the city. Similarly, we have 17 authorised education providers across the country," FPSB Ltd CEO Noel Maye told Bizz Buzz.

He is bullish on the growing number of students pursuing CFP certification programme in India. He says, "With a population of over 1.39 billion, we look at India as a great opportunity. It has a massive population of young and educated people looking to establish themselves in rewarding careers and to demonstrate their capabilities against a global standard."

Any graduate with a minimum of three years experience in financial matters is eligible to take up this 18-month CFP certification programme, and there is no upper age limit. The candidates, who don't have working experience, need to go for another 18-month paid internship after the course to get the certificate. This year, the fee is fixed at around Rs 90,000 that can be paid in installments.

"FPSB will work with our stakeholders in India to prepare new entrants to the profession and to deepen connections among practitioners, employers, associations, regulators and government to promote and support the emergence of financial planning in India as a valued and respected profession, with CFP certification its symbol of excellence," Maye said.

He met with the candidates for FPSB's specialist and CFP certifications, CFP professionals, training institutes and firm leaders from Hyderabad. He aims to engage the Indian CFP professional community, and its stakeholders, to discuss the development and growth of CFP certification globally and in India over 2021, provide an overview of FPSB's priorities in the country.

The CFP professional growth story in India is part of a growing global movement, where last year saw the number of CFP professionals around the world reach an all-time high of 203,312. The number of CFP professionals in India increased by 17 per cent over previous year. It was placed in the top three globally, after Brazil and Indonesia with growth rates of 36 per cent and 22 per cent respectively. "India's net increase of 349 CFP professionals ranks it in the top seven growth territories globally. FPSB is deeply grateful to our supporters in India, including our education providers, and to all CFP professionals in India who commit to rigorous standards and to putting their clients' interests first. The potential for growth of CFP professionals in the country is enormous," he added.