Financial Daily from THE HINDU group of publications
Thursday, Jan 26, 2006
Financial Daily from THE HINDU group of publications Thursday, Jan 26, 2006 |
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Money & Banking
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Financial Services FPSB plans to certify 50,000 financial planners Our Bureau
Kolkata , Jan. 25 FINANCIAL Planning Standards Board (FPSB) has set a target of certifying 50,000 financial planners in the next couple of years. The Board, which also aspires to secure recognition from the regulatory agencies, feels that the target may well be achieved if the right education is made more affordable. The FPSB Chairman, Mr Shailesh Haribhakti, hoped that various regulators would recognise its efforts and consider these to be valuable in the emerging context as well. The Board also proposes to develop standards of competence through examination and continuing education. The idea is to set the qualification for the CFP certification as the highest quality mark in the financial advisory business. "The amount of resources that enters the formal financial system is extremely small. People are more interested in bank deposits and various government-sponsored schemes. Equities, including equity funds, get little attention in comparison," he has told a symposium organised by FPSB. The Board represents financial planning organisations that are collaborating to unify around accepted standards.
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