Is there a market for financial planning
-The Indian economy is growing at a breath-taking speed of 15.9% p.a. compared to global average of 5.2% during 2000 to 2005.
-In absolute numbers the economy has grown from US $ 268 billion in 2000 to US $ 559 billion in 2005
-The incremental wealth is reflected in the number of home-grown millionaires (US $ terms) in India, which presently stands around 83000 and is still growing at a rate of 15% every year.
-To sustain the growth, we need qualified Financial Planners who will not only help people to manage and grow their money but also play a major role in allocating household surpluses to fuel the growth.
A financial planner offers his Financial planning services, which ranges from -
- Budgeting and Debt Management
- To stocks and annuities
- To insurance, employee benefits, and tax planning
- To retirement and estate planning and is primarily directed for individuals
Financial planners would be required in the following industries
- Bank Asset Management Co.s
- Financial Planning Institutions
- Wealth Management Firm
- Life Insurance Companies
- Accounting Firms
- Stock Broking Firms etc
Certified Financial Planner is the certification by FPSB in India, to be qualified Financial Planner
It is awarded by Financial Planning Standard Board,US through FPSB,INDIA
-It is the most prestigious and internationally accepted Financial Planning qualification recognized and respected by the global financial community.
-It has Recognition in more than 23 countries across the world.
-CFPCM Certification is the highest level of Certification worldwide in the field of Financial Planning with over 100000 CFPCM Certificants and widely respected by consumers, professionals & industry
-According to a recent report, there will be a need for 50,000 CFPs in India in the next few years.
-Currently India has around 900+ CFPs.
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