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The presentation explains about what is financial planning and the career opportunities for a Certified Financial Planner in India
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CAREER IN FINANCIAL
PLANNING
Progno Financial Planning Systems Pvt Ltd
Brief walkthrough the life of Rahul
FINANCIAL PLANNING STORY
Age to celebrate and enjoy with very little responsibilities!
Rahul in 2001
Age :25yrs
Salary: Rs.5000 p.m.
Job: Accountant
Movies Rs.200pm; tickets @Rs.30 ;
Largely spends on cloths, shoes, dining out
Bike Petrol Rs.200 pm @Rs.27.54/lit
No Savings
No loans
Goals : Buying a Car
Family man with increased responsibilities and worries!
Rahul in 2014
Married to Swetha
Daughter 3 yrs old
Salary Rahul Rs.30,000p.m. Swetha Rs.25,000p.m
Movies Rs.1500pm tickets @ Rs.150!
Car – Petrol Rs.1800pm @ Rs.74.80/lit
Rs.7500 pm EMI for car loan
Pays Rent Rs.7500p.m.
SIPs for Rs.3000p.m.
Goals: Buying a Flat
Daughter’s Education
Daughter’s Marriage
Holiday in Europe
Changes in Rahul’s Life
Single to Married with kid – Marital Status
Bike to Car; local theatre to mall – Lifestyle
Petrol Charges Rs.27.54 to Rs.74.80 – Inflation
Buying Home; Daughter’s Education – New Goals
Salary from Rs.5000 to Rs.30,000 – Career
Progress
No Savings to SIPs – Wealth Creation
No Loans to Car Loan – Borrowing from Future
Rahul work for 30 years to meet all his goals, living needs and finally
have to save for the next 30 years of retirement
Rahul’s Future
No Income – 30 yrs
Risks pose hurdles in achieving goals
Risks in Life
Rahul’s Concerns
How to mange increasing expenses?
Should he go for a home loan?
Which is the best investment?
How to meet the Goals?
How to reduce taxes?
How much insurance is required?
Will there be enough to live through retirement?
…….and more will be there….
The Solution
Financial Planning
Financial Planning is the Long-term process of
wisely managing your finances so you can
achieve your goals and dreams while at the same
time negotiating the financial difficulties
that inevitably arise in every stage of life
Financial Planning
Financial Planner
Accountant X
Stockbroker X
Insurance agent X
Financial plannerA financial professional who uses the
financial planning process to help client meet his/her life goals.
Client’s needs drive the planner’s recommendations
―big picture‖ at the heart of each decision — what’s best for the client
Qualities for Financial PlannerB
eh
avio
r • Listener
• Empathetic
• Responsive
• Solution oriented
• Ethical
Kn
ow
led
ge • Financial Analytics
• Certification
• Product Knowledge
Ma
rke
tin
g • Ability to write well
• Creative
• Communication Skills
• Organizing Skills
Financial Planning in India
Nascent Stage
Few institutions engaged in fee based
services
Mostly Goal Planning
Focus on revenue through product sales
Lack of Technology
Narrow Product Spectrum
Awareness through Media initiatives
Career Scope
Around 3.5 crore tax payers
1 lac + Financial Planners @ 300clients/FP
Charter members give preference to CFP
certificants
Banks and other major institutions are
setting up exclusive financial planning
services
New profession – SEBI Registered
Investment Adviser
Current Career Opportunities
FP Practice
Wealth Management
Financial Product Management
Trainers
Para planning
Progno Financial Planning Systems (P) Ltd
2nd Floor l RF Complex l Deshabhimani Road l Kaloor l Cochin 682017
Phone (+91) 8590003555 l 0484-3931782
Email: [email protected]
www.prognofp.com https://www.facebook.com/prognodirect
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