FPSB Celebrates 20th Anniversary; India Among Top 5 Countries In Terms Of Rising Number Of CFPs

The Financial Planning Standards Board (FPSB), a global leader in the financial planning profession, celebrated its 20th anniversary on December 3, 2024.  

Since its inception in 2004, FPSB has made significant contribution in establishing and sustaining global professional standards in financial planning with its Certified Financial Planner (CFP) programme. One notable accomplishment has been the increase in the number of CFPs worldwide from 86,690 professionals in 2004 to 223,700 as of December 31, 2023—a 158 per cent increase, according to FPSB.  

Incidentally, FPSB’s efforts to extend and promote financial planning techniques have also resulted in a major increase in demand for professional guidance in emerging countries, including India. At present, the number of CFPs as on December 31, 2023, according to FPSB. 

FPSB’s Journey In India 

There has been a significant increase in the number of CFPs in India. The number of CFPs in India as on December 31, 2023 comes to 2,731, up 8.5 per cent from the previous year, according to FPSB. This spike has placed India among the top-five countries in terms of growth in the number of CFPs. This increase also reflects the growing demand for professional financial planning guidance as consumers become more aware of the value of financial literacy and long-term planning, FPSB said. 

Krishan Mishra, CEO of FPSB India highlighted India’s contribution to the global success story of FPSB. He said: “FPSB India takes immense pride in being part of this journey, contributing to the growth of CFP professionals and setting global standards for ethical and competent financial planning. This anniversary underscores our commitment to empowering individuals and communities through trusted financial advice, ensuring a brighter financial future for all.” 

Updated Curriculum – Crypto, Psychology And Beyond 

FPSB has changed its financial planning criteria and certification requirements on a regular basis to reflect changing market needs.  

Now, courses on ‘Psychology of Practice’, crypto finance, and emerging investing methods have recently been added to the curriculum to reflect the shifting environment of financial markets and consumer expectations.  

According to FPSB, these changes have been incorporated to ensure that financial planners have the skills and information required to tackle complicated, modern financial difficulties. 
 

FPSB CEO Dante De Gori said: “This milestone anniversary is a testament to the commitment of our global network to drive excellence in financial planning through CFP certification. I am extremely grateful for the hard work of our team, global network, supporters, and the CFP professional community who have helped us champion our mission to uphold worldwide professional standards in financial planning. I look forward to continuing our work together to propel the profession forward.” 

Expansion To Other Countries 

The expansion of the CFP certification is not exclusive to India. FPSB has increased the number of jurisdictions that provide CFP certification from 17 to 28, with Italy being the most recent addition.