Qualified professionals for financial planning

All of us plan our finances to some extent. But for corporation and certain individuals, the task of managing every minute aspect of their cash flow, investments or transactions is a burdensome one. The last thing one wants is to waste time wondering where they should invest, when they really need to be concentrating on running their business. So who comes to the rescue? A new breed of money managers called financial planners.

Today, the demand for certified planners is going through the roof in India, where disposable incomes are soaring and investors are getting bolder Read on to find out why this could be the next big career.

Money Managers wanted

The increasing complexity of financial products attendant upon the rising levels of economic affluence, decline in personal income tax rates and a resurgent economy have all contributed to the need to have professionals manage various aspects of one’s financial wellbeing. And that is exactly what a planner does — develop a holistic approach towards reaching the client’s monetary goals by providing advice and assistance in various forms. The client could be an individual or a corporation. However, they will all rely on the planner’s expertise, skill ad gut instinct to see them through to where they want to be.

The growth in demand for professional money managers is also significant because as a country, we are risk averse. Only 2.5% of the entire population actually invests in stocks today. Financial planning needs to be promoted as a concept and a career today. This essential in order to mobilize the reserves of money lying Idle
In this country Financial planers not only make investment a more agreeable proposition, they also handle a wide range of functions from taxation, insurance and real estate to retirement planning, trust management and debt management. However, planning just like other disciplines in financial services is facing a resource crunch. The manpower crunch in services is a serious issue now and will continue for a long time. There is a growing demand in all fields and all of us are chasing the same resource.

A qualified planer is nothing less than a lifestyle planning expert and comes in at moments of doubt or crisis to figure the best way out. The planner draws up a strategy to arrive the goals based on the client or company’s overall financial status. He or she then provides advice and assistance in reaching the deliverables agreed upon and monitors the implementation of the plan at every step. Of prime concern here is the financial planner’s integrity, honesty and transparency. Other ‘soft’ qualities a planner needs are good communication and listening skills.

As far as technical qualifications are concerned, the CFPCM (Certified Financial planner) certification is gaining widespread recognition in the industry. Several banks, distribution firms, brokerages and other financial service companies are actively encouraging (and in some cases mandating) a CFPCM degree.

Financial planning is surely emerging as one of India’s most dynamic career choices in the financial services sector. And this is the right time to take the leap!