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NEW DELHI: The National Institute of Securities Markets (NISM) has renewed accreditation of certified financial planner (CFP) certification programme in India.
Financial Planning Standards Board (FPSB), owner of the Certified Financial Planner certification programme, needs accreditation from NISM, as per a press release. This enables CFP professionals offering investment advice to be eligible to register as investment advisors as per Securities and Exchange Board of India's norms.
NISM has renewed the accreditation of the 19-year-old CFP certification programme after reviewing FPSB Ltd.’s application, which outlined the board’s mission, reputation, global affiliations, financial strength and policies and quality standards related to curriculum development and exam administration for the programme in India.
NISM’s current accreditation of the CFP certification is valid from 1 March 2022 to 28 February 2024, and is eligible to be renewed every two years, subject to the programme monitoring and approval by NISM, the release said.
"FPSB Ltd. is pleased that India’s CFP professionals offering investment advice are eligible to register as Investment Advisers under Securities and Exchange Board of India regulations," said Noel Maye, CEO of FPSB Ltd.
"FPSB Ltd. and the community of over 2,300 CFP professionals in India are committed to benefiting the Indian public by establishing, upholding and promoting competency, ethics and practice standards and certification requirements for CFP professionals and for the financial planning profession in India. The accreditation by NISM strengthens our efforts to attract a new pool of talent into the financial planning profession in India."
This news follows a recent announcement by the Financial Planning Standards Board that the number of CFP professionals in India grew by 17.6% last year, reaching a total of 2,338 CFP professionals on 31 December 2021. The growth in India has been in line with the growing global movement, as per the Board.
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