As financial misinformation grows, Dante De Gori explains why Certified Financial Planners can provide reliable, customised guidance to Indian consumers
One of Outlook Money's recent episodes of Wealth Wizards: Money Maestros, interview series with the experts from the personal finance world, featured Dante De Gori, CEO of Financial Planning Standards Board (FPSB), as a guest. He provided information on the contribution of Certified Financial Planners (CFPs) towards better financial decisions by consumers.
Hosted by the editor of Outlook Money, Nidhi Sinha, the discussion centred on why India requires more expert financial professionals, why it is dangerous to depend on unverified social media advice, and why CFPs can provide holistic planning, beyond product suggestions. There are more than 2.3 lakh CFPs globally but a mere 3,200 in India. De Gori cited a huge advice deficit, particularly for India's growing urban middle class.
He also spoke of enhancing collaboration among regulators, professionals, and media in creating public awareness and trust. In a world where financial information is omnipresent but not necessarily trustworthy, CFPs, he added, can introduce credibility and long-term value to individuals' financial lives.