FPSB India organizes the Financial Planning Symposium 2013-2014

FPSB India organizes the Financial Planning Symposium 2013-2014

 

Mumbai, Financial Planning Standards Board India (FPSB India), the Professional Standards Setting body for financial planners in India, organized the Financial Planning Symposium 2013-2014 on the theme of “Managing Financial Planning Practice amidst Dynamic Economic Environment.”

 

Financial Planning Symposium 2013-14 was a one day event which attempted to connect the financial planning practitioners in India and U.S. on a common platform along with other stakeholders to deliberate upon the regulatory and practice aspects related to the financial planning profession. Over 20 leading Financial Planning professionals from U.S. and members of Financial Planning Association (FPA), U.S. participated as speakers and panelists in the Symposium. The deliberations were conducted through the following five sessions:

 

• Session I —  Theme “Need for Regulations in Financial Advisory — Implications for Financial Planning”
• Session II —   Theme “Retirement Planning — The Emerging Scenario in India and the Global Experience”
• Session III —  Theme “Financial Planning and Life Planning”
• Session IV — Theme “Segmenting Practice — Serving Different Demographics and Segments”
• Session V —   Theme “Delivering Financial Planning — The Growing Emphasis on Soft Skills”

 

The Symposium presented an opportunity for the senior industry professionals, financial planning practitioners as well as other stakeholders to share their knowledge and experience and to discuss measures for the growth of financial planning profession in the interest of the consumers.

 

Ms. Deepa Kotnis, Chief General Manager (CGM), Pension Fund Regulatory and Development Authority (PFRDA) said, “I believe that Employee Provident Fund (EPF) is not a competitor to National Pension System (NPS) as EPF is not a Retirement Product as people withdraw from their accounts over the years and at the time of their Retirement not much is left to buy annuities. Presently with PFRDA Act into the place, we are working on the further regulations including the regulations for Retirement Advisers, and FPSB India is amongst the institutions we are engaging for the promotion of NPS through Certified Financial Planners (CFP) Certificants and for the establishment of regulations of Retirement Advisers as well.”

 

Mr. Ranjeet S Mudholkar, Vice Chairman & CEO, Financial Planning Standards Board India (FPSB India) said, “FPSB India is pleased to facilitate in-depth interactions amongst the Financial Planning community in India and U.S. We believe that apart from the mutual exchange of knowledge amongst participants, such interactions would also lead to the further progression of the Financial Planning industry in the interest of consumers.”

 

Mr. Richard Salmen, Leader FPA Delegation, and Past President-Financial Planning Association (FPA) said “While speaking with the Indian Financial Planners we have learnt about the challenges they face transitioning from a Commission based compensation structure to a Fee based compensation structure. Indian Financial Planners need to know that this transition has been taking place in the U.S. for many years. When Financial Planners focus on the value of the process and communicate the same to their clients, then these clients are more willing to pay fees.”

 

 

For more information

PR 24x7 Network Limited

Atul Malikram

[email protected]