Opportunities for CFP professionals in India to provide financial planning to global investors

By Krishan Mishra

Rising disposable incomes and awareness about financial planning have led to a significant shift in consumer attitudes towards saving, investing, and financial security not just in India but worldwide. HNIs worldwide are now seeking professional services in financial planning, wealth management, and risk management. This has led to a growing need for qualified financial planning professionals worldwide.

If you are interested in finance, markets, data, and dealing with other people’s money and would like to relocate overseas, here’s an option to consider – become CPF certified in India and be the money manager to global investors.

As a CFP-certified individual in India, one can help HNI clients in the US and other countries by using international financial planning standards and understanding cross-border tax rules. One will create personalized investment plans, offer advice on global investment opportunities, and help with estate and risk management. Their knowledge of different financial markets and ability to give tailored advice will make CFP professionals valuable to clients looking for expert financial guidance.

Numerous job opportunities worldwide await qualified financial planning professionals irrespective of where they acquire their certification. The number of possible job roles can range from an Investment Officer, Portfolio Analyst, Private Banker, Investment Advisor, Financial Manager, Paraplanner, Data Analyst, Bank Manager, Asset Management Analyst, Fund Accountant, Research Analyst, Product Specialist, Chief Financial Officer, to many more. These roles represent just a fraction of the opportunities that lay ahead for qualified professionals.

A financial planning expert is someone who provides customized financial planning advice by understanding a client’s unique financial goals and needs. One must meet certain criteria on not just education, examination and experience, but also ethical requirements to be a Certified Financial Planner (CFP), a qualification owned by the Financial Planning Standards Board (FPSB) Ltd.

The number of global CFP professionals is approximately 223,770, with 2731 of them being in India after a growth of 8.5% since the past year. Notably, India stands amongst the top 5 countries by growth in CFP professionals in 2023.

The certification is presently recognized in 27 countries across the world including Australia, Austria, Brazil, Canada, Chinese Taipei, Columbia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Malaysia, The Netherlands, New Zealand, People’s Republic of China, Peru, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, Turkey, The United Kingdom, and The United States.

Eligibility Criteria

A candidate must hold a bachelor’s degree or higher from an accredited institution or University. Additionally, they must complete a comprehensive financial planning education program approved by FPSB India, the Indian subsidiary of the Financial Planning Standards Board (FPSB) Ltd.

This qualification represents excellence in financial planning through rigorous competency and ethical standards. However, to qualify for the certification, individuals need two years of supervised, or three years of unsupervised, professional experience in financial planning or a closely related field.

Fastrack Pathway: An Opportunity for Accountants, Bankers and Insurance Professionals

Professionals in banking, insurance, and accounting who obtain CFP certification can significantly enhance the value of the services they provide to their clients. They can integrate financial planning advice, helping clients with long-term savings strategies, investment advice, wealth management, and offer more comprehensive risk management plans, alongside integrated tax planning and financial advice.

The Fastrack Pathway offers a streamlined certification process to some of these professionals in financial services to acquire this certification. Such individuals are exempted from writing three initial exams and through the FPSB Integrated Financial Planning course of the Fastrack Pathway, they are inducted as a Certified Financial Planner.

(Author is CEO, FPSB India)

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