The Indian financial services industry has undergone significant
changes over the years, particularly in the last decade, and continues to
evolve today. Financial Planning - a distinct element within the spectrum of
financial services industry - is still relatively a young discipline. But personal
finance products & services are increasingly becoming an important part of
this industry as the Indian consumers seek to maximize and optimize the potential
earnings and fruits of their hard-earned money.
Currently, there are distinct divisions within the financial services
industry. A person goes to a bank to save his money or to get a loan. He buys
stocks and bonds from a broker. He purchases insurance from an insurance agent
and mutual funds from a mutual fund distributor. The regulation of the industry
reflects the division of these transaction-based services.
However, financial services, especially on the retail side, have
undergone a major transformation and financial consumers are demanding a
holistic & comprehensive approach to their personal finance. Various
factors have catalyzed this change like privatisation of insurance and mutual fund
sectors has increased product options for the investor. Second, fluctuating
interest rates and the end of ‘guaranteed return’ products have prompted
investors to look for alternative modes of investment. And also with a number
of mis-selling instances taking place in the financial markets, investors’
confidence in ‘advisors’ has been shaken and the investors are asking for a
‘trusted financial advisor’.
This section is an attempt towards bringing to the forefront the
challenges that today’s Financial Advisory community is facing in the
competitive & booming markets. And at the same time showcase the
opportunities which can be tapped by this community by adopting the Financial
Planning discipline in their business and guide them with a pathway.
Click on the Menus on the left to learn more about a Career in
Financial Planning and benefit by pursuing the profession in its true sprit.