By 2030, there will be around 10,000 CFPs in India as against the requirement of 1,00,000 due to huge demand, said Mishra.”Personal finance was ignored in India. People thought financial planning is for the elite. But, in reality, wealth management is for the elite while financial planning is for everyone. We need to be financially educated,” said Mishra.He announced that FPSB India and the Indian Institute of Management Ahmedabad (IIMA) had on Tuesday signed a strategic MoU to launch a series of capacity-building initiatives, targeted for professionals in financial planning and investment advisory services.Under the framework, IIMA and FPSB India will initiate training programmes, conduct applied research, and organise focused workshops for professionals on contemporary themes, he said.In May, FPSB India had signed a pact with the International Financial Services Centres Authority (IFSCA), GIFT City, to promote GIFT IFSC as a ‘Global Finance Hub’, to enhance the financial market ecosystem and nurture skilled professionals for GIFT City’s expanding financial workforce, he said.”We had signed an MoU recently with the IFSCA at GIFT City to help them in getting the right talent, which is a challenge for them because majority of the talent in financial service is based in Mumbai, Delhi, Bengaluru, and Hyderabad. They are not willing to relocate to Gandhinagar due to various reasons,” he said.”We are expecting a huge growth in GIFT City because available talent is very less. There are nearly 628 firms in the banking and financial services sector having offices in GIFT City today.””In the next five years, nearly 1. 5 lakh people will be needed there, mostly in the field of distribution and management. This will create a huge demand for CFP professionals,” he added.
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