India sees 8.5% jump in the number of CFP professionals

The Certified Financial Planner (CFP) community in India has reached 2,731 members, registering a growth rate of 8.5% year-on-year, according to a report by the Financial Planning Standards Board Ltd. (FPSB). This growth places India fourth in the world’s net growth rate, reflecting domestic demand for professional financial planning guidance.

The surge in the number of CFP professionals comes as more than half of those who have never received advice related to financial planning have expressed an intention to seek advice within the next three years. FPSB has seen the global CFP professional community increase by 5.1% over the previous year, reaching 2,23,770 as of December 2023.

Krishan Mishra, CEO, FPSB India said, "We are thrilled to announce that India's CFP professional community has reached an unprecedented milestone, boasting 2,731 dedicated professionals committed to delivering high-quality financial guidance. This remarkable 8.5% surge reflects not only the growing demand for financial planning advice in our country but also underscores the increasing importance individuals place on securing their financial future. As India proudly ranks among the top 5 in global net growth rates, this achievement speaks volumes about our nation's dedication to fostering financial literacy and stability."

FPSB Value of Financial Planning Global Consumer Research 2023 revealed that individuals who engage in the services of CFP practitioners often report a higher quality of life, stronger financial resilience, and greater satisfaction with their financial circumstances. Furthermore, a remarkable 98% of clients indicated their trust in their CFP professional to act in their best interests.

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Dante De Gori, CFP, CEO of FPSB, said: “As the global community of CFP professionals grows, more people around the world can access financial planners who are committed to high standards of competency, ethics and practices. These professionals help individuals navigate complex financial decisions and cope effectively with increased living costs.”