India Emerges as Leading Hub for Certified Financial Planners, Reports 18% Growth

Synopsis

India is establishing itself as the fastest-growing hub for Certified Financial Planner (CFP) professionals, experiencing an 18% increase in numbers. With a focus on enhancing financial education and increasing the participation of women, the country is on track to meet the rising demand for skilled financial planners.

Key Takeaways

18 percent growth in CFP professionals in India.
Current count of CFPs stands at 3,215.
Women represent 23 percent of the CFP workforce.
FPSB India aims for 35 percent female CFPs by 2030.
Collaboration with top institutions to boost financial education.

Mumbai, Feb 14 (NationPress) India is rapidly becoming the leading hub for Certified Financial Planner (CFP) professionals, with an impressive 18 percent increase in their numbers this year, as highlighted in a report released on Friday.

The analysis from FPSB India, the Indian branch of the Financial Planning Standards Board (FPSB), indicates that the count of CFP professionals surged to 3,215 in 2024 from 2,731 in 2023, marking a notable growth of 17.7 percent.

CFPs are specialists who significantly assist individuals in organizing their finances, managing their wealth, and achieving long-term financial security.

According to FPSB India, the global growth of CFP professionals was 3.1 percent last year, leading to a total of 230,648 professionals worldwide. Women are also making significant progress in the CFP field.

Currently, 23 percent of India’s 3,215 CFP professionals are women, with FPSB India aiming to elevate this figure to 35 percent by 2030.

“India is recognized as one of the fastest-growing markets for CFP professionals, driven by an increasing demand for financial planning services,” stated Krishan Mishra, CEO of FPSB India.

Mishra emphasized that as India’s economy continues to grow, the necessity for CFP professionals providing comprehensive financial advice has never been more urgent.

FPSB India has collaborated with prominent academic institutions like IIM Ahmedabad, IIM Bangalore, IIM Lucknow, IIFT, NISM, and KJ Somaiya Institute of Management to enhance financial planning education throughout the nation.

These partnerships aim to merge financial planning education and CFP certification into both academic and professional programs, equipping students, professionals, and independent practitioners with structured financial expertise.

Furthermore, FPSB India has joined forces with the International Financial Services Centres Authority (IFSCA) in GIFT City to cultivate skilled financial planners for India’s expanding financial ecosystem.

As GIFT City evolves into a global financial center, the demand for qualified CFP professionals is anticipated to increase substantially, further bolstering India’s financial landscape.