New Delhi, Feb 22 (PTI) India witnessed over 17 per cent growth in the number of certified financial planner (CFP) professionals in 2021 on the back of growing demand for personal finance solutions, the Financial Planning Standards Board (FPSB) said on Tuesday.
The number of CFP professionals in India grew by 17.6 per cent last year, reaching a total of 2,338 CFP professionals as of December 31, 2021.
This growth in CFP professionals is also reflective of growing retail acceptance of personal finance solutions from segments like mutual funds, life insurance, savings bank accounts and direct equity investments, FPSB said. India growth story for such professionals is part of the growing global demand when the number of CFPs across the world reached an all-time high of 203,312.
It said India ranks in the top three in terms of rate of growth of CFP professionals globally.
“Despite the Covid-19 pandemic, momentum in the growth of CFP professionals in India is strong and increasing, consistent with global trends for the CFP certification programme,” said Noel Maye, CEO of FPSB Ltd.
India’s rate of growth of CFP professionals placed it in the top three globally, after Brazil and Indonesia with growth rates of 36 per cent and 22 per cent, respectively.
And India’s net increase of 349 CFP professionals ranks it in the top seven growth territories globally.
Since taking over the direct operation of the CFP certification programme in India in 2019, FPSB has updated the curriculum for CFP certification. Its programmes are available through online learning portal or one of 16 education providers.
It has also introduced three speciality designations as a career path to CFP certification; partnered with the NSE Academy and an online exam provider to offer certification exams throughout India; and facilitated online and in-person Continuing Professional Development (CPD) opportunities for CFP professionals to retain their certification. These, and other efforts, have resulted in 1,602 candidates enrolling in our education and certification programmes and 621 newly-minted CFP professionals last year, FPSB said. PTI KPM MR MR
