The country needs a "new breed of financial planning professionals" who can act as consultants for customers, Financial Planning Standards Board (FPSB) India CEO Krishan Mishra said.
India currently has 2,731 certified financial planners (CFPs) who are currently working in the industry as well as practising individually, FPSB said in a statement.
"Most people who are in the industry might be navigating their organisations very well but when it comes to their personal finances they also struggle, be it CEOs, CFOs, CHROs.
"This is why we need to create a new breed of financial planning professionals who can be consultants for customers," Mishra said.
Mishra was speaking to PTI on the sidelines of the signing of a Memorandum of Understanding (MoU) between FPSB India and Indian Institute of Foreign Trade (IIFT), Delhi on Friday to launch the Executive and Regular PG programs, integrated with Certified Financial Planner (CFP) certification.
"The collaboration underscores our shared commitment to excellence in education and our dedication to nurturing the next generation of financial planners equipped with a globally recognised CFP certification," Mishra said.
"The beauty of the industry is that it not only helps you with employability but also with your entrepreneurship practice," said Mishra.
The programs are designed to equip working professionals and students with the essential knowledge and skills required to excel in the field of financial planning, FPSB said.
The course delves into investment planning in the first module, insurance, retirement and tax planning in the second module and estate planning and risk management in the third module, it said.
FPSB India is a leading financial planning body in India and is dedicated to establishing, upholding, and promoting professional standards in financial planning throughout India.
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