India witnesses 4th highest net growth rate globally; CFP professional community soars 5.1%

India saw a surge in demand for professional financial advice, with the community registering a record 2731 CFPs over the year with 8.5% growth.

FPSB’s infographic showing worldwide CFP professional growth in 2023

Financial Planning Standards Board Ltd. (FPSB) in its report shared that the number of CERTIFIED FINANCIAL PLANNER professionals worldwide grew by 5.1% over the previous year. With more than 50% of people who have never received financial planning advice intending to seek it within the next three years*, FPSB suggests. FPSB and its global network of organizations increased the number of global CFP professionals by 10,768 to a total of 223,770 as of December 31, 2023. India saw a surge in demand for professional financial advice, with the community registering a record 2731 CFPs over the year with 8.5% growth.

The growth in the number of CFP professionals complements findings from the FPSB Value of Financial Planning Global Consumer Research 2023 that shows those who work with CFP practitioners report a better quality of life, enjoy more financial confidence and resilience, and are more satisfied with their financial situation, with 98% of clients reporting they trust their CFP professional to act in their best interests.

“We’re pleased to see the number of CERTIFIED FINANCIAL PLANNER professionals continues to increase year-over-year to meet the rising demand for professional financial planning advice,” said FPSB CEO Dante De Gori, CFP.

“As the global community of CFP professionals grows, more people around the world can access financial planners who have committed to high standards of competency, ethics and practice to build holistic financial plans as they face increased costs of living and complex financial decisions. For nearly three decades, the global CFP professional community has steadily grown, reaching its highest ever at over 223,700. This growth is a true testament to the value CFP certification holds in the global financial planning profession and the clients Certified Financial Planner professionals serve,” he further added.

Sharing the numbers, Krishan Mishra, CEO, FPSB India said, "we are thrilled to announce that India's CFP professional community has reached an unprecedented milestone, boasting 2,731 dedicated professionals committed to delivering high-quality financial guidance. This remarkable 8.5% surge reflects not only the growing demand for financial planning advice in our country but also underscores the increasing importance individuals place on securing their financial future. As India proudly ranks among the top 5 in global net growth rates, this achievement speaks volumes about our nation's dedication to fostering financial literacy and stability. Together, we continue to empower individuals to make informed financial decisions and navigate their journey towards prosperity."

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