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CFP 2010-11 Report

CFP 2010-11 Report

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Published by Anil Anvesh

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Published by: Anil Anvesh on Apr 12, 2011
Copyright:Attribution Non-commercial


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Between You and Me
Annual 2010-11The year 2010-11 has witnessed a definite trend towards investor friendly measures in India with moretransparency in the operations of industry players who offer financial products and services especially inthe domain of Personal Finance. The investor protection is on top of the agenda of the regulators with adrive towards a responsible financial intermediation. This is in congruence with such measures world overas governments are taking measures to infuse fiduciary responsibility in financial products distribution andadvisory.In the domain of Financial Planning too, the public perception of need-based and holistic Financial Planninghas gained credence over the years. Many financial advisors have already been building up skill sets toaddress growing customer requirements for a holistic and unbiased financial advisory. The coming timesrequire Financial Planners to reorganize their practice and move on to the application of the techniques ofsegmentation, branding and relationship management for shaping up their practice to the next level.During the year 2010-2011, around 5,000 students and other professionals registered for the CFP
Certification Program, approximately 25% more than previous year. This took total number of enrollmentsin the Program to over 21,500. A total of 9,561 candidates appeared in exams of CFP certification, witha success ratio of 48% in Exam 1 – 4 and 64% in Exam 5. The number of professionals entitled to theuse of CFP
marks grew by 34% during the year to 1,409 in number. The growth in the number ofCFP
certificants over the last three years has been 57% per annum on a CAGR basis. In addition, thereare over 900 candidates who have cleared all the exams of CFP certification and are at various stagesof acquiring experience. FPSB India has recently launched a Mentorship Program (One-Year SupervisedWork Experience), which would facilitate such candidates to approach a select panel of CFP Practitionersthroughout India for undergoing one-year intensive training in various components of Financial Planning. ThisProgram is voluntary. This is expected to drive practice standards of Financial Planning in the industry.FPSB India has always been at the forefront for advocating client centric and advisory nature of financialintermediation. This notion is central to Financial Planning and creates a strong base for regulatoryconvergence as well. Going forward we would continue with our efforts to scale up the Financial Planningmovement in the country and work closely with all stakeholders for further augmentation of FinancialPlanning profession in the country. We look forward to the continuance of your worthy patronage andsupport in our efforts to enhance and augment the Financial Planning profession in the country and helpingIndia’s Wealth Quotient on an upward spiral.Warm Regards,
Ranjeet S MudholkarPrincipal Advisor and Member-Board of Directors, FPSB India

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