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What are the career prospects for certified financial planners (CFP) in India? Apart from financial services companies, banks, distribution houses, insurance companies, equity broking and financial planning firms, is there any new industry/kind of organisations which are hiring CFPs? What's the size of India's CFP population? What's the demand and supply situation like?
The CFP certification programme has an edge over other finance-related programmes today because of the sheer gap between the demand and supply of the qualified professionals in this field. India has roughly five crore-plus families with a surplus for investment and assuming that one certified financial planner can handle 100 clients, we require at least five lakh CFP certificants. This presents a fantastic opportunity for all those who are striving to make a mark in the financial services field.

As a certified financial planner, one may choose to establish one's licensed financial planning practice. Alternatively, one may work with
* Banks
* Life insurance companies
* Accounting or law firms
* Stock brokers
* Fund managers
* Wealth management companies
* Training solution providers
* KPO (specialising in financial planning)

Certification not only gives a qualification and an expert understanding of the financial planning subject but it also gives one 'international' recognition. With fewer than 1100 CFP certificants in the country, India certainly needs many more of them as Indians are earning more and more money and they need qualified money managers to take care of their finances. Once a CFPCM practitioner, you will be among the top tier of financial planners in the country.

What's the scope in independent practice?
Various international researches conducted by FPSB Ltd and its associates show that CFPs' clients are more satisfied than the clients of other financial advisers and are interested in a broader range of financial advice. CFPs often become involved in many aspects of their clients' lives and help multiple generations of the same family. Most of these practitioners use a comprehensive approach to problem solving and communication that better prepares them to meet and anticipate client needs. Because CFPs make recommendations based on their clients' needs, the typical client relationship for a practitioner lasts many years.

The scope in independent practice has gone up considerably after the recent regulatory changes being introduced in the financial services sector. The planned move towards fee-based advisory will considerably help the qualified financial planners in the long run.

What's the mobility quotient of this qualification?
Currently CFP certification is offered and recognised in 23 countries including Australia, Austria, Brazil, Canada, China, Chinese Taipei, France, Germany, Hong Kong, Indonesia, Ireland, Japan, Malaysia, New Zealand, The Netherlands, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, the United Kingdom and the United States of America.

For the benefit of the public, FPSB Ltd regulates how professionals use its CFP marks outside the borders of the country or region in which they first received the certification. 

Who should pursue the CFP qualification?
Any candidate who is interested in making a career in financial advisory, private banking, financial planning or wealth management must prefer the CFP Certification.

Apart from technical understanding of financial products, good people skills, listening skills, a grasp on current affairs, vision and ability to think are some of the virtues a good financial planner must have.

How suitable is the CFP education programme for India?
If Indian economy has to reach anywhere near its potential, it will need many more certified financial planners who can channelise the Indian savings into productive investments. Financial literacy is very low in the country, which is leading to a huge opportunity loss. We need qualified money managers who can make optimum utilisation of available resources and enhance per capita GDP.

What's the RoI in this credential?
Financial planners earn income in a variety of ways:
* Fee charged on an hourly rate, a flat rate per plan, a percentage of value of the client's assets and/or income, or a combination of these methods.
* Commissions for the products sold as the financial plan is implemented.
* A combination of fees and commissions
* Salary for those employed by financial organisations or other institutions

CFPs' salaries at the entry level range between Rs 2 lakh and Rs 4 lakh, at the middle level between Rs 6 lakh and Rs 10 lakh and at senior levels, above Rs 10 lakh.

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