While man stands at a transformational evolutionary stage in terms of technology, we in India still remain in the medieval age when it comes to finances. A comparison between the numbers of financial planners in India as against USA gives a very dismal picture.
- 2000 registered CFP’s in India Vs. 80,000 in USA.
- India currently contributes to only 1% of the world’s CFP population.
Research, however indicates that we need 1.75 Lakh financial planners by the year 2022. This shows the huge amount of growth opportunities available.
Earning is the major source of everyone’s happiness and peace. All that we do in our lives is directed towards building wealth not only to sustain family and ourselves, but also live a dignified lifestyle. If we are so dependent on money, then why aren’t we planning it better? Doesn’t it become the responsibility of the 2000 strong community of CFP’s in India to spread this revolution? A revolution, that could change the lives of many. It is the financial planners who have the gift of knowledge and the tools to make an ordinary person into a millionaire. There are many who don’t know about this profession, yet many who do. Is it not the duty as a community to create awareness and stand for the ideology that we believe in?
Is it not right, that Financial Planners participate in the economic up liftmen of our Country through intelligent investing?
According to the ancient Indian scriptures, human being involved in the achievement of a higher purpose shall attain ultimate joy. If we, undertake a promise as a community of financial planners, educators and subject matter experts, that we shall become involved in-
- Creating awareness of the concept of financial planning
- Inculcate more financial planners
- Ethically impart 360 degree financial planning to our clients
We will see that we not only bring wealth to many but attract wealth for ourselves.
We need to realize our potential as a community and use it for the greater good. lets look at the top three countries with the highest numbers of CFP’s – USA, China and Japan and emulate their best practices.
Lets enrich our country with financially smart individuals who are economically prepared for the future.
In order to take this step forward, International College of Financial Planning successfully organised a seminar on the World Financial Planning Day, 3rd October 2018. It was a great day not only for ICOFP but also for the financial planning fraternity. Eminent personalities from the finance Industry like Mr. Sanjiv Bajaj, CFPCM, Vice Chairman, Bajaj Capital Limited; Mr. Sameer Mittal, Sr. Director, Ameriprise; Mr. Anil Chopra, CFPCM, Group Director-Corporate Affairs, Bajaj Capital Limited; Ms. Shilpi Johri, CFPCM, Financial Planner & Author; Mr. Atin Khanna, CFPCM , Associate Vice President – Area Manager – Priority Banking, Kotak Mahindra Bank Ltd.; Mr. Devinder Singh, CFPCM , Senior Vice President and Chief Manager, UTI Asset Management Company Limited were invited to impart their experiences to the guests who comprised of students, CFP’s and aspiring financial planners.
Chief Mentor, ICoFP