India: 35% of CFP professionals should be women by 2030

| 16 Apr 2024

The Financial Planning Standards Board (FPSB) India is planning to increase the representation of women in the financial planning field to achieve a 35:65 ratio of women-to-men certified financial planners (CFPs) by 2030.

As of 2023, India has 2731 CFPs, with approximately 22% being women, a figure that has increased by 2% since the previous year.

CEO of FPSB India Krishan Mishra said, "FPSB India is dedicated to fostering diversity and creating opportunities for women to excel in financial planning. We are establishing new partnerships, especially to support women in pursuing careers in financial planning. We would like to have a 35:65 ratio by 2030. 35% of total CFP professionals should be women."

Mr Mishra emphasized the importance of cultivating a new generation of financial planning professionals who can serve as consultants for clients. Despite being adept at managing their organisations, many individuals struggle with their personal finances, highlighting the need for expert financial advice.

Therefore, it is essential to cultivate a diverse pool of financial professionals, including more women, to meet the diverse needs of clients. FPSB India's initiative aims to achieve a more gender-balanced financial planning workforce. 

FPSB in the US is a global professional organisation that establishes standards and awards the Certified Financial Planner (CFP) certification worldwide. In India, FPSB operates as a subsidiary of this global entity. In India it registered a growth rate of 8.5% year-on-year compared to the 5.1% jump seen in the global CFP community reaching 223,770 as of December 2023. 

Recently, FPSB India and the Indian Institute of Foreign Trade (IIFT) signed an agreement to launch executive and regular PG programmes aimed at equipping working professionals and students with financial planning skills, reported Business Today.