Professions are usually known for their cognitive knowledge base, institutionalized training, licensing facility, work autonomy, code of ethics and social responsibility. Fortunately, “Financial Planning Advisory” fulfils most of these requirements of a profession. This new profession in the financial services sector, which is hardly forty odd years old and making a new beginning in India, has the distinct advantage of having the support and guidance of an international standard setting body, Financial Planning Standards Board (FPSB), which is striving to take care of all these requirements and endeavouring to develop financial planning advisory as a global profession. The interest for this profession is growing steadily in India because of its immense value to individuals as well as to the society. However, the operating environment for this profession in India has not yet been made conducive to growth. Both Central Government and Regulatory Bodies would have to step in to make the operating environment for this noble and vibrant profession supportive and amenable to growth.
Profession, Standard of Competence, Code of Ethics, Social Responsibility, Financial Advice, Generic Advice, Individual Advisors, Institutional Advisors, Wire house Advisors, Regulatory Environment
