If you read through newspapers, online news websites of love your daily date with Prime Time news show there is a common theme being discussed these days – ‘jobless growth’. Stories of job cuts and downsizing seem to be occupying the Indian mind space. An engineering degree or an MBA from a reputable institute that guaranteed a flying career at the start of this decade seems to have lost its sheen to automation. Similarly, many job profiles that employ millions of Indians may soon become redundant. So is there a sure shot path to a safe career? Well, looking at the macro economy there isn’t one unless professionals are willing to update their skills and switch over to newer sunshine sectors.
At the micro level though there are certain sectors and job profiles where there is an acute shortfall in India. People without the right kind of qualification are getting into these jobs to bridge the gap between demand and supply. Financial Planning is one such sector that is facing acute shortage of qualified professionals. Figure this, in a country of 1.25 billion people there are a little more than 2000 Certified Financial Planners. Yes, you read it right there is one CFP per 625,000 persons in India that’s even lower than the ratio between Indians and their elected representatives to the Parliament and State Legislatures! While this may sound unrealistic majority of Indians put all their hard earned money without seeking professional advice.
A Certified Financial Planner Certificate can open up many new opportunities for you in a market where only the tip of the iceberg has been tested as far as financial planning is concerned. To put it in simple words a financial planner helps an individual or a family understand its financial goals and achieve them based on their exact financial position and needs in the future.
Career Options Ahead…
- Banking Institutions – Believe it or not major banks in India are having a tough time finding Certified Financial Planners and it’s no surprise given the stats we have mentioned above. Over the last decade, we have witnessed how retail banking is slowly yielding space to investment banking. With assured investment options unable to offer inflation-proof returns most investors look for newer avenues. This is where banks are increasingly becoming dependant on skilled financial planners to help their investors earn maximum returns.
- Fund House – With investments in Mutual Funds growing most fund houses are head hunting for CFPs aggressively. With dozens of MFs competing for the same set of customers the rate of returns on their funds has become the market differentiator. The one-tenth difference in return percentage is enough for an investor to choose a different Fund House. CFPs with their strong financial know-how are at an advantage over other finance professionals and can earn maximum returns for the portfolios they manage. In fact, CFP certificate shall offer you the option to choose Fund Houses if you are looking for a career in this industry and not the other way round.
- Corporate Houses – Like any individual or household corporate houses too need the best financial investments when it comes to acquisitions, mergers or sale of a business. They want to make the most lucrative deal. This is easier said than done and people who have been years in a business or own it can have a tough time assessing its right value. From company’s books to its market presence, network, technological assets and the overall market scenario has to be analysed and this is something people love leaving to CFPs.
Besides these, there are dozens of other opportunities in Market Advisory Firms, Stock Brokerages, Insurance Companies and every other business that is in the financial industry. To sum up, won’t you acquiring a skill that would immediately help you gain a few hundred thousand people as your potential customers? Enrol into a CFP certification program and an ocean of opportunity awaits you.