Association of Financial Planners holds ''Grandfathering ceremony''

Mumbai: In a 'grandfthering' ceremony, The Association of Financial Planners (AFP) conferred the title of Certified Financial Planner (CFP), to 30 professionals including heads and senior representatives of financial institutions and well known names in the financial services sector.

In their new roles as 'grandfathers' of the Indian financial planners community, they will participate actively in the development of financial planning to upgrade its quality and recognition; volunteer for AFP board, task forces, committees; communicate the value of financial planning to their respective organisation, peers, and employees; educate regulators about financial planning and the media; stay abreast of rapidly evolving local and international professional issues and serve as role models for younger CFP aspirants.

Speaking on the occasion, Sanjay Sachdev, chairman, AFP, said, "With an approval from IRDA for CFP, the financial planning movement continues to gain credence, while addressing the need for financial planners in other financial services like mutual funds and pensions. We are happy with the encouraging acceptance of the CFP and AFP at the regulatory and government levels."

Ian Middleton, CFPCM, FPSB board member said, "Consumers in India have the right to expect that financial planners meet appropriate competency and ethics requirements. AFP India's efforts to establish a world class Certified Financial Planner CM certification programme will go a long way towards meeting this objective ".

The Association of Financial Planners (AFP) is a non-profit, professional certification association. It was established in April 2001 and is dedicated to developing and promoting an industry providing unbiased financial advice to the Indian public.

The International CFP Council, established in 1990, is an international assembly of financial planning associations, which promotes professionalism in financial planning. It has members and associate members in 19 countries. AFP is the fifteenth member of the Council.

AFP hopes to create a team of over 10,000 financial advisors by 2007 to help households and individuals plan their investments to meet long-term needs. AFP plans to achieve this by converting at least two per cent of financial intermediaries i.e. about five lakh, as advisors through systematic training, skill development and examination.