Jagjit and Ravi had been classmates during their engineering days in the 1990s and both landed up in the same technology company in 1998 when the IT boom was just about to begin in India. Like many of their peers, they soon found themselves on different flights to the US. While Ravi went for a 1-year stint in Detroit to work on an automobile company’s project, Jagjit was sent to New York for 7 months where he worked with a financial services company and shaped their transition into IT backed customer support. Both returned home with their experience and invested 50,000 each around the same time. While Ravi went for the safer option of Fixed Deposits with a PSU bank, Jagjit invested in one of the biggest Mutual Funds of that time. Nearly two decades later Ravi’s investment has grown around 36 fold of which inflation has taken away about one-third of his returns while Jagjit sits over an investment that has increased nearly 100 fold during the same period.
Why are we telling you this story when we were supposed to discuss Certified Financial Planners? Jagjit had met a financial planner Leo McCaskey during his stint in the US who during coffee breaks would suggest him to invest in Indian equity markets which were just showing signs of taking giant strides into the future. With no knowledge of equity trading and the inherent fear like the majority of Indians have with equity trading he opted for the next best option Mutual Funds. Today he can’t stop thanking Leo enough for his invaluable suggestions. Going forward most Indians would have to think like Jagjit and come out of their FD and RD mindset if they really want to see their investments grow. With interest rates plummeting to all-time lows there is no option but to get into the market. And who do you think would be in huge demand? It’s Certified Financial Planners who will help people chalk out tailored investment plans to meet their future needs.
The Coolest Guys Around…
You don’t believe that CFPs are the coolest guys around, right? You are partly true in your assessment as chances are that you haven’t met one in your life. In fact, there are more chances that you would meet your elected representative or even spotted a shooting star compared to the odds of meeting and interacting with a CFP. Why? There are only about 2000 of them in India, yes in a country as vast as India that may sound unbelievable but it is true. While every insurance agent or one who suggests people chit-fund schemes claim to be a financial planner the fact is they don’t even have the right to call themselves the same. CFPs sit at the top of the pyramid in terms of offering investment advisories to their clients.
Traditionally Certified Financial Planners would only occupy the top decision making positions in banks, fund houses and other financial institutions but off-late they are offering investment advisory services to ordinary people. They don’t suggest investments based on market swings, assumptions and rumours but share personalized strategies that are based on goals, financial abilities and most importantly the appetite of risk among their clients. Since the odds of earning lucrative returns increases manifold talking to a CFP, most people consider them as the coolest guys around. After all, nobody will let go the opportunity of being friend with a CFP.
Doesn’t the idea of becoming a Leo McCaskey who people remember and thank in the future excite you? Enrol yourself into a reputed institution offering CFP program and you are assured of great success in the future.