Career in financial planning

CAREER IN FINANCIAL

PLANNING

Progno Financial Planning Systems Pvt Ltd

Brief walkthrough the life of Rahul

FINANCIAL PLANNING STORY

Age to celebrate and enjoy with very little responsibilities!

Rahul in 2001

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

Family man with increased responsibilities and worries!

Rahul in 2014

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 – 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

Daughter’s Education

Daughter’s Marriage

Holiday in Europe

Changes in Rahul’s Life

Single to Married with kid – Marital Status

Bike to Car; local theatre to mall – Lifestyle

Petrol Charges Rs.27.54 to Rs.74.80 – Inflation

Buying Home; Daughter’s Education – New Goals

Salary from Rs.5000 to Rs.30,000 – Career

Progress

No Savings to SIPs – Wealth Creation

No Loans to Car Loan – Borrowing from 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

Rahul’s Future

No Income – 30 yrs

Risks pose hurdles in achieving goals

Risks in Life

Rahul’s 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….

The Solution

Financial Planning

Financial Planning is the Long-term process of

wisely managing your finances so you can

achieve your goals and dreams while at the same

time negotiating the financial difficulties

that inevitably arise in every stage of life

Financial Planning

Financial Planner

Accountant X

Stockbroker X

Insurance agent X

Financial plannerA financial professional who uses the

financial planning process to help client meet his/her life goals.

Client’s needs drive the planner’s recommendations

―big picture‖ at the heart of each decision — what’s best for the client

Qualities for Financial PlannerB

eh

avio

r • Listener

• Empathetic

• Responsive

• Solution oriented

• Ethical

Kn

ow

led

ge • Financial Analytics

• Certification

• Product Knowledge

Ma

rke

tin

g • Ability to write well

• Creative

• Communication Skills

• 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

New profession – SEBI Registered

Investment Adviser

Current Career Opportunities

FP Practice

Wealth Management

Financial Product Management

Trainers

Para planning

Progno Financial Planning Systems (P) Ltd

2nd Floor l RF Complex l Deshabhimani Road l Kaloor l Cochin 682017

Phone (+91) 8590003555 l 0484-3931782

Email: hr@progno.co.in

www.prognofp.com https://www.facebook.com/prognodirect

Contact