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Career In Financial Planning

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Sanjeev Kumar G
Sanjeev Kumar G

A curtain raiser of financial planning and about the opportunities that exist for a certified financial planner in India

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CAREER IN FINANCIAL PLANNING Sanjeev Kumar G CFPCM
FINANCIAL PLANNING STORY Brief walkthrough the life of Rahul
?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 Rahul in 2001 Age to celebrate and enjoy with very little responsibilities!
?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 C 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 ? Daughters Education ? Daughters Marriage ? Holiday in Europe Rahul in 2011 Family man with increased responsibilities and worries!
Changes in Rahuls Life ? Single to Married with kid C Marital Status ? Bike to Car; local theatre to mall C Lifestyle ? Petrol Charges Rs.27.54 to Rs.74.80 C Inflation ? Buying Home; Daughters Education C New Goals ? Salary from Rs.5000 to Rs.30,000 C Career Progress ? No Savings to SIPs C Wealth Creation ? No Loans to Car Loan C Borrowing from Future
No Income C 30 yrs Rahuls 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
Risks in Life Risks pose hurdles in achieving goals
Rahuls 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.
Financial Planning Financial Planning is the process of meeting your life goals through a BIG PICTURE approach to managing your finances.
Financial Planner ? Accountant X ? Stockbroker X ? Insurance agent X ? Financial planner ?A financial professional who uses the financial planning process to help client meet his/her life goals. ? Clients needs drive the planners recommendations ? Dbig picture at the heart of each decision whats best for the client
Qualities for Financial Planner ? ? Financial ? Ability to write Marketing Behavior Knowledge Listener ? Empathetic Analytics well ? Responsive ? Certification ? Creative ? Solution ? Product ? Communication oriented Knowledge Skills ? Ethical ? 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
Current Career Opportunities ? FP Practice ? Wealth Management ? Financial Product Management ? Trainers ? Para planning
Financial Planning @ JRG Financial Planning to drive Business Growth
JRG Group ? Majorly owned by Baring PE Partners ? Run by Professionals ? Head Quartered in Kochi ? Spread over South India and Maharashtra ? More than 350 branches ? Stock Broking, Commodity Broking, Insurance Broking, Financing, Investment Product Distribution ? Listed in BSE
Current Status ? 3 CFPs ? Process of recruiting more CFPs ? Internal Training Program ? Inditrade Financial Planning Fellowship Program ? Earn While You Learn ? Inditrade FP Apprentice Program
Road Map Fee Financial based Planning Financia l Custom Plannin made g Goal Over Plans the Counter Product s
Thank You! Sanjeev Kumar G CFPCM sanjeev.kumar@jrg.co.in

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Career In Financial Planning

  • 3. ?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 Rahul in 2001 Age to celebrate and enjoy with very little responsibilities!
  • 4. ?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 C 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 ? Daughters Education ? Daughters Marriage ? Holiday in Europe Rahul in 2011 Family man with increased responsibilities and worries!
  • 5. Changes in Rahuls Life ? Single to Married with kid C Marital Status ? Bike to Car; local theatre to mall C Lifestyle ? Petrol Charges Rs.27.54 to Rs.74.80 C Inflation ? Buying Home; Daughters Education C New Goals ? Salary from Rs.5000 to Rs.30,000 C Career Progress ? No Savings to SIPs C Wealth Creation ? No Loans to Car Loan C Borrowing from Future
  • 6. No Income C 30 yrs Rahuls 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
  • 7. Risks in Life Risks pose hurdles in achieving goals
  • 8. Rahuls 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.
  • 9. Financial Planning Financial Planning is the process of meeting your life goals through a BIG PICTURE approach to managing your finances.
  • 10. Financial Planner ? Accountant X ? Stockbroker X ? Insurance agent X ? Financial planner ?A financial professional who uses the financial planning process to help client meet his/her life goals. ? Clients needs drive the planners recommendations ? Dbig picture at the heart of each decision whats best for the client
  • 11. Qualities for Financial Planner ? ? Financial ? Ability to write Marketing Behavior Knowledge Listener ? Empathetic Analytics well ? Responsive ? Certification ? Creative ? Solution ? Product ? Communication oriented Knowledge Skills ? Ethical ? Organizing Skills
  • 12. 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
  • 13. 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
  • 14. Current Career Opportunities ? FP Practice ? Wealth Management ? Financial Product Management ? Trainers ? Para planning
  • 15. Financial Planning @ JRG Financial Planning to drive Business Growth
  • 16. JRG Group ? Majorly owned by Baring PE Partners ? Run by Professionals ? Head Quartered in Kochi ? Spread over South India and Maharashtra ? More than 350 branches ? Stock Broking, Commodity Broking, Insurance Broking, Financing, Investment Product Distribution ? Listed in BSE
  • 17. Current Status ? 3 CFPs ? Process of recruiting more CFPs ? Internal Training Program ? Inditrade Financial Planning Fellowship Program ? Earn While You Learn ? Inditrade FP Apprentice Program
  • 18. Road Map Fee Financial based Planning Financia l Custom Plannin made g Goal Over Plans the Counter Product s
  • 19. Thank You! Sanjeev Kumar G CFPCM sanjeev.kumar@jrg.co.in