SEPTEMBER REPORT - FPSB India

FPSB INDIA REPORT | SEPTEMBER 2012 | 1

SEPTEMBER REPORT2012

FPSB India


Between You and MeDate : 11 October, 2012

Dear Friend,

Financial Planning is fast gaining as a distinct client-centric professional service. It has come to be associated with virtues of

Duty of Care wherein the fiduciary aspect of services rendered is of essence. SEBI in their Board Meeting on 16th August,

2012 have advised that all individuals and entities holding themselves as providers of Financial Planning and investment

advisory services would be regulated. This would be broadly contained in the SEBI (Investment Advisors) Regulations, 2012

(“Investment Advisors Regulations”) already approved by the Board. This will help Financial Planning carve itself out as

a niche industry serving the cause of consumers on par with medicine and law. The move will help the industry to get

professional status and expand multi-fold in the interest of all stakeholders.

FPSB India has always advocated the issues of financial inclusion, investor protection and a regulatory approach to financial

advice. These are vividly covered in the client centric holistic advice, the Financial Planning approach of CERTIFIED

FINANCIAL PLANNERCM or CFPCM Certification. This would bring a much required standard and control and help carve

out an empowered profession in the wider interest of all stakeholders. The establishment of a Self Regulatory Organization

(SRO) for overseeing distributors of investment products is well appreciated. The distinction between “selling” and “advice”

would clearly define and segregate the role of the two professional communities. Also, treating mis-selling as a fraudulent

and unfair trade practice would help evolve suitability requirements of investment products.

Further, SEBI’s requirements of experience, qualification and a certification for individuals to hold themselves as Investment

Advisors would serve to professionalize the industry. This would go a long way in strengthening the equation between

advisors and investors, who would be in a position to differentiate between “selling” and “advice” and would thus redefine

their stance towards fee-based advice. CFPCM professionals who are adept in providing client-centric solutions on a fee-

based model would find their services meeting regulatory approval along with other professionals.

We would continue with our efforts to scale up the Financial Planning movement in the country and work closely with all

stakeholders for further augmentation of Financial Planning profession in the country. We look forward to the continuance of

your worthy patronage. We sincerely endeavour the profession to help India’s Wealth Quotient on an upward spiral.

Warm Regards,

Ranjeet S Mudholkar

Vice Chairman & CEO, FPSB India


CONTENTCM1. Membership / CFP Professional Statistics 05

2. Examination 11

CM3. Area wise distribution of CFP Certificants 15

CM4. Charter Member-wise numbers of CFP Certificants 17

5. Education Partners 19

6. Continuous Education 21

7. Current / Upcoming

8. Ethics and Discipline / Practice Standard Marks Promotion / Protection 24

9. List of Board of Directors 25

10. List of Charter Members of FPSB India 26

Events 23


MeMbership / CFpCM proFessional statistiCs

1. Number of CFPCM certificants and change since month

2. Demographic information on CFPCM certificants

Gender Number Percentage of TotalMale 1345 81.42%

Female 307 18.58%

Age Number Percentage of Total20-29 245 14.83%

30-39 720 43.58%

40-49 488 29.54%

50-59 171 10.35%

60+ 28 1.69%

CategoryNumber at end of September, 2012

Number at end of March, 2012 Percentage growth

CFPCM certificants 1,652 1,627 1.53%

Student 27,617 25,758 7.22%

AFP 125 118 5.93%

Charter Members 50 50 --

1

81%

19%

Male

Female

Demographic Information on CFPCM Certificants Number (Gender Wise)

15%

44%

29%

10%

2%

Age 20-29

Age 30-39

Age 40-49

Age 50-59

Age 60+

Demographic Information on CFPCM Certificants Number (Age Wise)

Years of Experience Number of CFPCM Professionals Percentage of Total

0-5 511 30.93%

6-10 579 35.05%

11-15 208 12.59%

16-20 157 9.50%

20+ 197 11.92%


Student Member Enrollment Statistics

2012 - 13* Enrollments

TermApr 12

May12

Jun12

Jul12

Aug12

Sep-12

Total

Total 162 277 232 293 676 219 1859

Enrollments & Growth Rate (Year-wise)

Enrollment Year No of Enrollments Growth Rate2002 -2003 284 NA

2003 -2004 684 140.85

2004 -2005 852 24.56

2005 -2006 1,608 88.73

2006-2007 2,443 51.87

2007-2008 4,196 71.75

2008-2009 3,867 (7.90)

2009-2010 3,363 (12.98)

2010-2011 4,391 30.57

2011-12 4,070 (7.31)

2012-13* 1859 --

Total 27,617

* As on 30th September, 2012


31%

35%

13%

9%

12%

0-5 Years

6-10 Years

11-15 Years

16-20 Years

20+ Years

Experience Profile of CFPCM Certificants

0

5000

10000

15000

20000

25000

30000

Number of StudentEnrollments

Growth of Student Enrolment

0

500

1000

1500

2000

2500

3000

3500

4000

Number of People Eligible forCFP Certification

Number of People who havepassed all 5 Examinations

Year wise Trend of Candidates Passed vs. Eligible for Certification



Total Enrollments in the Year 2012-13 and comparison over previous year

PeriodRegular Pathway

Challenge Status Pathway

Total EnrollmentsEducation Partner mode

Self Study mode Total

April - September 2012

1284(11.81%)

575(7.85%)

1859(10.63%)

250(9.75%)

2109(10.52%)

April - September 2011

1078 509 1587 211 1798

Percentage of Enrollments – Pathways and Modes – in the last two years

Profile of Enrollments in the last two years





2011-12 3156 (-16%) 914 (41%) 4070 (-7%) 641 (15%) 4711 (-5%)

2010-11 3741 650 4391 557 4948





2011-12 67% 19% 86% 14% 100%

2010-11 76% 13% 89% 11% 100%

Year Education Partner mode Self Study mode Challenge Status Pathway

2011-12 41% 44% 48%

2010-11 50% 54% 50%

Pass Percentage across Pathways and Modes

Figures in bracket represent percentage change in 2012-13 versus 2011-12


CFPCM certificantsIndependent Practitioners

(I)Corporate Executives

(C)Others (O) Total Eligible

Spl. Case#

Not* EligibleGrand Total

Grandfatherees (GF) 6 (GFI) 80 (GFC) 6 (GFO) 92 1 15 107

Education Provider (EP) 23 (EPI) 23 (EPC) 7 (EPO) 53 1 3 56

Challenge Status (CS) -- -- -- -- -- -- --

Total 29 103 13 145 2 18 163

Details of CFPCM certificants’ statistics: 31st March, 2006





Spl. Case#


Grandfatherees (GF) 8 (GFI) 66 (GFC) 8 (GFO) 82 1 -- 82

Education Provider (EP) -- -- -- -- -- -- --


Total 8 66 8 82 1 -- 82





Spl. Case#



Education Provider (EP) 19 (EPI) 5 (EPC) 2 (EPO) 26 -- 1 27


Total 28 90 10 128 1 1 129





Spl. Case#



Education Provider (EP) -- -- -- -- -- -- --


Total 8 24 7 39 1 -- 39


Statistics of CFPCM certificants:





Spl. Case#




Challenge Status (CS) -- 11 (CSC) -- 11 -- -- 11

Total 59 156 24 239 2 43 282






Spl. Case#




Challenge Status (CS) 4 (CSI) 24 (CSC) 1 (CSO) 29 1 0 29

Total 103 229 33 365 5 110 475




(I)

Corporate Executives


Fees Paid

Fees Not Paid

Spl. Case#


Grandfatherees (GF) 5 (GFI) 58 (GFC) 7 (GFO) 70 55 15 1 37 107

Education Provider (EP) 131 (EPI) 401 (EPC) 51(EPO) 583 453 130 3 303 886

Challenge Status (CS) 10 (CSI) 118 (CSC) 7 (CSO) 135 87 48 4 1 136

Total 146 577 65 788 595 193 8 341 1129



(I)



Fees Paid

Fees Not Paid

Spl. Case#


Grandfatherees (GF) 4 (GFI) 51 (GFC) 1(GFO) 56 55 1 51 51 107

Education Provider (EP) 282 (EPI) 586 (EPC) 10(EPO) 878 793 85 106 745 1,623

Challenge Status (CS) 28 (CSI) 263 (CSC) 1 (CSO) 292 201 91 18 19 311

Total 314 900 12 1,226 1,049 177 175 815 2,041





(I)


(C)

Others (O)

Total Eligible

Fees for FY 2010 - 11Fees Not Paid

Not Eligible due to

Total Not

Eligible

Grand TotalRecd.

Before31st Mar

10

Recd.After

31st Mar 10

TotalNon-

PaymentIncomplete Documents

Grandfatherees (GF) 4 (GFI) 51 (GFC) 1 (GFO) 56 31 21 52 4 51 0 51 107

Education Provider (EP) 338 (EPI) 812(EPC) 55(EPO) 1205 58 977 1,035 170 156 927 1083 2,288

Challenge Status (CS) 58 (CSI)398

(CSC)3 (CSO) 459 13 309 322 137 66 3 69 528

Total 400 1,261 59 1,720 102 1,307 1,409 311 273 930 1203 2,923



(I)


(C)

Others (O)

Total Eligible

Fees Received forFY 2011-12

Fees Not Paid

Not Eligible due to

Total Not

Eligible

Grand TotalRecd.

Before31st Mar

11

Recd.After

31st Mar 11

TotalNon-



Education Provider (EP) 421 (EPI)858 (EPC)

114 (EPO)

1393 0 1177 1177 216 264 1131 1395 2788


(CSC) 2

(CSO)576 0 404 404 172 147 2 149 725

Total 504 1401 117 2022 9 1618 1627 395 465 1133 1598 3620

*Not Eligible Candidates are those who have passed all the 5 Examinations but are not eligible for CFPCM Certification due to inadequate Experi-ence, incomplete documents and non-payment of fees for the previous year.

# Included in Total Eligible and considered in paid category

* Not Eligible Candidates are those who have passed all the 5 Examinations but are not eligible for CFPCM certification due to inadequate Experience, incomplete documents and non payment of fees for the previous year.

Details of CFPCM certificants’ statistics: 30th September, 2012


(I)


(C)

Others (O)

Total Eligible

Fees Received forFY 2012-13

Fees Not Paid

Not Eligible due to

Total Not

Eligible

Grand TotalRecd.

Before31st Mar

12

Recd.After

31st Mar 12

TotalNon-



Education Provider (EP) 437 (EPI) 841 (EPC)135

(EPO)1413 575 621 1196 217 347 1227 1574 2987


(CSC) 2 (CSO) 581 221 191 412 169 205 2 207 788

Total 516 1373 131 2043 826 826 1652 391 610 1229 1839 3882


1. Information on Examinations administered during FY 2012 - 2013*.

Exam typeNumber of students enrolled in

education coursesTotal number of exam

takersPass rate Date(s) of exam

Serial Exam leading to CFP Certification (Exam 1-4)

1859 3890 44.96% Daily Basis

CFP Certification Exam(Exam 5/Challenge Status)

250 645 38.45% Daily Basis

Examination Statistics - (2008 - 09)Name of Exam Appeared Passed Failed Pass%

Exam 1 - Risk Analysis and Insurance Planning 3,644 1,455 2,189 39.93

Exam 2 - Retirement Planning & Employee Benefits 2,789 1,287 1,502 46.15

Exam 3 - Investment Planning 2,951 1,181 1,770 40.02

Exam 4 - Tax & Estate Planning 1,990 879 1,111 44.17

Total 11,374 4,802 6,572 42.22


Exam 1 - Risk Analysis and Insurance Planning 2,281 1,165 1,116 51.07

Exam 2 - Retirement Planning & Employee Benefits 2,355 1,280 1,075 54.35

Exam 3 - Investment Planning 1,962 1,059 903 53.98

Exam 4 - Tax & Estate Planning 1,749 952 797 54.43

Total 8,347 4,456 3,891 53.38


Exam 1 - Risk Analysis and Insurance Planning 2,229 1,116 1,113 50.07%

Exam 2 - Retirement Planning & Employee Benefits 2,257 1,051 1,206 46.56%

Exam 3 - Investment Planning 1,855 959 896 51.70%

Exam 4 - Tax & Estate Planning 1,839 855 984 46.49%

Total 8,180 3,981 4,199 48.67%

Examination Statistics (Exam 1-4)

exaMination 2



Examination Statistics - ( 2012-13*)Name of Exam Appeared Passed Failed Pass%

Exam 1 - Risk Analysis and Insurance Planning 1119 510 609 45.58%

Exam 2 - Retirement Planning & Employee Benefits 1054 479 575 45.45%

Exam 3 - Investment Planning 843 415 428 49.23%

Exam 4 - Tax & Estate Planning 874 345 529 39.47%

Total 3890 1749 2141 44.96%


exaMination

Month wise breakup of Examination Statistics for the year 2012 -13

Examination Statistics - April, 2012Name of Exam Appeared Passed Failed Pass%





Total 690 302 388 43.77%

Examination Statistics - June,2012Name of Exam Appeared Passed Failed Pass%





Total 202 90 112 44.55%

Examination Statistics - May,2012Name of Exam Appeared Passed Failed Pass%





Total 697 298 399 42.75%






Total 8233 3654 4579 44.38%


Examination Statistics - July,2012Name of Exam Appeared Passed Failed Pass%





Total 677 311 366 45.94%

Examination Statistics - August,2012Name of Exam Appeared Passed Failed Pass%





Total 608 300 308 49.34%

Examination Statistics - September, 2012Name of Exam Appeared Passed Failed Pass%

Exam 1 - Risk Analysis and Insurance Planning 142 60 82 42.25

Exam 2 - Retirement Planning & Employee Benefits 146 68 78 46.58

Exam 3 - Investment Planning 110 49 61 44.55

Exam 4 - Tax & Estate Planning 149 60 89 40.27

Total 547 237 310 43.33

exaMination

Examination Statistics (Exam 5 / Challenge Status Exam)

CFPCM certification Exam 5 & CSP Examination Statistics 2008 - 09

Particulars Appeared Passed Failed Pass %

Total 1,333 607 726 45.54%

CFPCM certification Exam 5 & CSP Examination Statistics 2009 -10


Total 1,610 912 698 56.65%

CFPCM certification Exam 5 & CSP Examination Statistics 2010 -11


Total 1381 882 499 63.87%

CFPCM certification Exam 5 & CSP Examination Statistics 2011- 12


Total 1198 711 487 59.35%

CFPCM certification Exam 5 & CSP Examination Statistics 2012-13*


Total 645 248 397 38.45%



Month wise breakup of Exam 5 & CSP Statistics for the year 2012-13

Apr – 12

Pathway Appeared Passed Failed Pass %

Regular 49 20 29 40.8%

Challenge Status 37 12 25 32.4%

Total 86 32 54 37.2%

May – 12


Regular 78 29 49 37.18%


Total 97 34 63 35.05%

June – 12


Regular 80 35 45 43.75%

Challenge Status 34 12 22 35.29 %

Total 114 47 67 41.23%

July – 12


Regular 73 29 44 39.73%


Total 108 34 74 31.48%

August - 2012


Regular 87 37 50 42.53%


Total 126 51 75 40.48%

September – 12


Regular 90 41 49 45.56%


Total 114 50 64 43.86%

exaMination


area-Wise DistribUtion oF CFpCM proFessions eliGible For CertiFiCation3

Sr. no. Region Total % to Total Certificants

1 East 88 5%

2 North 342 21%

3 South 320 19%

4 West 902 55%

Total 1652 100%

Region-Wise

Sr. no. City Total % to Total Certificants

1 Mumbai 591 36%

2 Delhi 143 9%

3 Bengaluru 122 7%

4 Pune 82 5%

5 Chennai 83 5%

6 Kolkata 54 3%

7 Ahmedabad 75 5%

8 Hyderabad 54 3%

Total top 8 cities 1204 73%

Other Cities 448 27%

Total Eligible Certificants 1652 100%

City-Wise


area-Wise DistribUtion oF eliGible CFpCM CertiFiCants

Sr. no. City Total Certificants % to Total Certificants

1 Andhra Pradesh 65 4%

2 Assam 5 0%

3 Bihar 4 0%

4 Chandigarh 13 1%

5 Chhattisgarh 3 0%

6 Delhi 144 9%

7 Goa 16 1%

8 Gujarat 142 9%

9 Haryana 35 2%

10 Himachal Pradesh 3 0%

11 Jharkhand 11 1%

12 Karnataka 137 8%

13 Kerala 13 1%

14 Madhya Pradesh 34 2%

15 Maharashtra 744 45%

16 Orissa 4 0%

17 Pondicherry 1 0%

18 Punjab 26 2%

19 Rajasthan 27 2%

20 Tamil Nadu 103 6%

21 Uttar Pradesh 55 3%

22 Uttarakhand 5 0%

23 West Bengal 62 4%

Grand Total 1652 100%

State-Wise


Charter MeMber-Wise nUMbers oF CFpCM CertiFiCants 4

Sr. No. Charter Members


Regular Pathway

Total

2011-12 2012-13 2011-12 2012-13 2011-12As on

Mar 31, 2012

2012-13As on Sep 30, 2012

As on Mar 31, 2012

As on Sep 30 2012

As on Mar 31, 2012

As on Sep 30, 2012

1 Aditya Birla Money Mart Limited 0 0 2 2 2 2

2 Alliance Bernstein Corporation 0 0 0 0 0 0

3 ASK Wealth Advisors Private Limited 0 0 3 3 3 3

4 Axis Bank 4 5 6 7 10 12

5 Bajaj Capital Limited 0 0 9 6 9 6

6 Barclays Bank PLC 1 1 0 0 1 1

7 Birla Sun Life Insurance Company Limited 0 1 11 11 11 12

8 BNP Paribas 5 5 1 0 6 5

9 Citibank N.A 2 9 1 0 3 9

10 Daiwa Asset Management (I) Pvt. Ltd. 0 0 6 3 6 3

11 Destimoney 0 0 1 1 1 1

12 Deutsche Bank AG 2 1 3 1 5 2

13 Dhanlaxmi Bank 0 0 0 0 0 0

14 Dynamic Equities Private Limited 1 1 0 0 1 1

15 Edelweiss Financial Services Ltd. 0 1 0 0 0 1

16 FIL Fund Management Private Limited 0 0 2 1 2 1

17 FPI Padmakshi Financial Planning & Wealth Management 0 0 0 0 0 0

18 Franklin Templeton Asset Management (India) Private Limited 1 1 2 0 3 1

19 Geojit BNP Paribas Financial Services Limited 0 0 4 4 4 4

20 HDFC Asset Management Company Limited 5 5 6 5 11 10

21 HSBC 1 1 1 1 2 2

22 ICICI Bank Limited 11 9 4 3 15 12

23 ICICI Prudential Asset Management Company Limited 0 0 3 2 3 2

24 ICICI Prudential Life Insurance Company Limited 4 2 10 11 14 13

25 ICICI Securities Limited 16 17 10 11 26 28


Charter MeMber-Wise nUMbers oF CFpCM CertiFiCants

Sr. No. Charter Members


Regular Pathway

Total

2011-12 2012-13 2011-12 2012-13 2011-12As on

Mar 31, 2012

2012-13As on Sep 30, 2012

As on Mar 31, 2012

As on Sep 30 2012

As on Mar 31, 2012

As on Sep 30, 2012

26 ING Financial Services Private Limited 0 0 0 0 0 0

27 Karvy Stock Broking Limited 0 0 1 1 1 1

28 Kotak Mahindra Bank Limited 3 5 7 4 10 9

29 KZen Equities Services Private Limited 0 0 0 0 0 0

30 L&T General Insurance Company Limited 0 0 1 0 1 0

31 L&T Mutual Fund 0 0 0 0 0 0

32 Life Insurance Corporation of India 3 4 28 27 31 31

33 MetLife India Insurance Company Limited 0 0 3 4 3 4

34 Mirae Asset Global Investments (I) Private Ltd 0 0 1 1 1 1

35 Motilal Oswal Securities Limited 2 2 3 2 5 4

36 Networth Stock Broking Limited 0 0 0 0 0 0

37 Principal PNB AMC Private Limited 0 0 1 1 1 1

38 Reliance Capital Asset Management Limited 10 6 2 1 12 7

39 Reliance Life Insurance Company Limited 0 0 3 1 3 1

40 Reliance Securities Limited 1 2 0 0 1 2

41 Religare Enterprises Limited 0 1 1 0 1 1

42 SBI Funds Management Private Limited 8 5 6 7 14 12

43 SBI Life Insurance Company Limited 0 0 1 0 1 0

44 SKP Securities Limited 0 0 4 2 4 2

45 Standard Chartered Bank 1 1 0 1 1 2

46 State Bank of India 62 57 46 38 108 95

47 TATA AIG Life Insurance Company Limited 1 1 11 11 12 12

48 TATA Asset Management Limited 4 3 1 0 5 3

49 UTI AMC Limited 13 15 10 9 23 24

50 World Gold Council 0 0 0 0 0 0

Grand Total 161 161 215 182 376 343


eDUCation partners5S.No. EP Name Contact Person Designation Address Contact No Email ID

1ACE School for Professional Studies

Ms. Charu KaushikVP(Trainings and content),

26/32, Pal Mohan Sadan,East Patel Nagar, Delhi-110008

+91-11-45050202, +91-9560400711

[email protected]

2 Ambition Learning Solutions Mr. Vishal Gada Director

53, Ashawadi, S.V. Road, Opp. Shopper's Stop, Behind Yashwant Nagar, Andheri West, Mumbai 400058

+91-9930805522, +91-22-26244248

[email protected]

3Anagram Knowledge Academy Ltd.

Mr. Prashant V Shah Jr. Knowledge Officer

Anagram Knowledge Academy LTD. 3rd Floor, Hertage Square, Opp. Atlanta Tower, Gulbai Tekra, Ahmedabad – 380015

[email protected]

4 Arihant Institute Pvt.Ltd Mr. Ajay SevakHead - Business Development

3rd Floor, "Swapnil" Bldg. Nr. Navrangpura cross Road, Navrangpura, Ahmedabad - 380 009

+91-79-26460870,+91-9825078724

[email protected]

5BLB Institute of Financial Markets (BIFM)

Mr. G.C. Sharma DirectorGulab Bhawan, 4th Floor, 6, Bahadur Shah Zafar Marg, New Delhi-2

+91-11-43702201/202 [email protected]

6Financial Planning Academy (FPA)

Mr. Ninad M MondkarChief Learning Officer

1st Floor, Doulatram Mansion, Kitridge Road, Colaba, Mumbai - 400005

+91-22-22797404, +91-9322637748

[email protected]

7 Finstitute Ms. Urvi Prajapati Coodinator

B/201 Hemu Classic Shopping Centre, Opp. New Era, S.V.Road,Malad-West, Mumbai-400064

+91-22- 2888796466930993, +91-9321106767

[email protected]

8Gurukulonline Learning Solutions

Mr. Manish Jain Vice President

Shree Krishna niwas, 3rd floor, Shraddhanand Road Extn, Vile Parle (E), Mumbai - 400 057

+91-22-26141111, +91-9322198917

[email protected]

9 IIFP Mr. NiamatullahProgramme Director

2E/8, 2nd Floor, Jhandewalan Ext., New Delhi - 110055

+91-11-43166700, +91-9953755092

[email protected]

10IIJT-Indian Institute of Job Training

Mr. Shajan Samuel Divisional Head

Farha Tower, 1st Floor, adjacent to Barton centre, 83 Mg road, Bangalore: 560001

+91-9886727272 [email protected]

Education Partners: The following Education Partners have been authorized to provide CFPCM Certification Education Program in India.


eDUCation

S.No. EP Name Contact Person Designation Address Contact No Email ID

11Indian School of Business & Finance

Head CFP AdmissionsRelationship Executive

15 A, Ring Road, Lajpat Nagar IV, New Delhi - 110024

+91-11-40430000 [email protected]

12International College of Financial Planning

Mr. Rajiv SethJoint Regional Sales Head

3rd Floor, Gulab Bhawan, Near Times of India, 6, Bahadur Shah Jafar Marg, New Delhi-01


13ITM Institute of Financial Markets

Ms. Sabyasachi Mukherjee

Asst. Prof. Finance

7th Floor, "B" Wing, BSEL Tech Park, Opp. Vashi Station, Navi Mumbai-400705

+91-9223313462, 022-27814772

[email protected]

14 Knowise Learning Academy Mr. Karthick C S

# 33, 2nd Floor, Prabhakar Reddy Complex, 6th C Main, HMT Layout, R T Nagar, Bangalore - 560032

+91-80-41726535, +91-9980166321

[email protected]

15L.J. Center for Professional Studies (LJBS)

Mr. Viral Shah Center HeadInfotower Ahmedabad-380015

+91-79-30120116/26742878

[email protected]

16Mandar Learning Academy Pvt Ltd

Mr. Suman Bhadra InchargeSuite #305 A, 10A Hospital Street, Kolkata-700072 (INDIA)

+91-33-22155590 [email protected]

17MT Educare Ltd.(A holding Company of Mahesh Tutorials)

Mr. Divyen Gada

Head–Financial Learning Programme& BDOM for MT UVA

220, 2nd floor, Neptune's "Flying Colours", Pandit Din Dayal Upadhay Marg, LBS cross road, Mulund(W), Mumbai - 400080

[email protected]

18 NJ Gurukul Pvt. Ltd. Mr. Ajay Jariwala

NJ Center 'B' Tower,801,Udhna Udyog Nagar Commercial Complex,Central Road No. 10,Udhna, Surat-394210


19Pune Institute of Business Management

Pune Institute Of Business Management

Survey No. 499, Near Manas Resort, Bhugaon, Tal - Mulashi, Paud, Pune- 411042

+91-9325666621, +91-20-67903100/103

20RNIS College of Financial Planning

Mr. H S Bansil PD

AISF Building, ADJ: Lady Sriram College, Amar Colony, Lajpat Nagar-IV, New Delhi

+91- 9818665534 [email protected]

21Sambodhi Research & Management Institute

Ms. Banani GangulySenior Counsellor - Admissions

B 23, Lajpat Nagar II, New Delhi - 110024

+91-11-49242400-99 [email protected]

22SBMJC - Center for Financial Planning & Management

Mr. Raghu G Anand Manager 1/1-1; Atria Towers Palace Road, Bangalore – 560 001

+91-80-22353216/[email protected]

23 Stratagem Financial School Ms.Tanvi AgarwalHead Operations

1. 201/A, Frontline Lake Shore Towers,Rajbhavan Road, Somajiguda, Hyderabad-500082

[email protected]

24The New Era Education Society

Ms. Srishti Sehgal 8th Floor, Ansal Classique Tower, Rajouri Garden, New Delhi- 110027

[email protected]

25Trinity Global Education Private Ltd

Mr. Anand KulkarniExecutive Director

Trinity House, Plot No.5/B, Qureshi Nagar, Kurla (East), Mumbai 400 070.

[email protected]

26Vantage Institute of Financial Markets

Mr.Rajesh Dedhia/Mr.Dipesh Rambhia

Director

413, 4th Floor, Bussa Industrial Estate, Hanuman Lane, off Ganpatrao Kadam Marg, Near Peninsula Corporate Park, Lower Parel(West), Mumbai 400013

+91-9819911914 / +91-22-66101186 / 66100748

[email protected]


ContinUoUs eDUCation6Continuous Education: FPSB India awarded CE points to the CFPCM certificants for the following:

Sr. No.

CE Category CE Program/ ActivityCE Points

(CEPs) Admissible

Validity of Program/ Activity

RemarksRelevant Documents

Admissible

1 Authorship

Authorship of Book on Finance or any component of Financial Planning*

15 OngoingBook to be completed in the validity period

Soft/Hard copy or link of book

Authorship of articles in Print/ Electronic Media/Financial Planning Journal

5 OngoingPublished date of the article to be in the validity period

Soft/Hard copy or link of article

Published interview in print media or interview/ panel discussion in electronic media

530-Jun-

12

Published date/ telecast date to be in the validity period

Soft/Hard copy or link of interview

Published quotes in print media or viewpoint/bite in electronic media (per article or appearance)

230-Jun-

12

Published date/ telecast date to be in the validity period

Soft/Hard copy or link of article

2 Qualification

Professional Courses and Certifications (Actuary, CA, CFA, CAIIB, JAIIB, ICWA, CS)

15 OngoingDate of completion to be in the validity period

Photocopy of passing certificate /degree

Higher Academic Qualifi-cations (Post Graduate or Doctorate in Finance, Economics, Econometrics, Mathematics/ Statistics, Law)



Licentiate/Associate/Fellowship of Life Insurance from Insurance Institute of India



MBA (Finance- Part Time) /(except Finance- Full Time)



3Certification/Courses

Mandatory Certifications (NISM-MF, IRDA) other relevant courses of NCFM, BSE, IIBF, NISM, etc.

230-Jun-

12

Date of completion to be in the validity period

Photocopy of passing certificate

Aspirational relevant courses of at least 1-year duration run by professional education entities



LOMA Certification 10 OngoingDate of completion to be in the validity period


4Events/ Meetings

Events, Seminars, Round Table/Conference, Financial Planning Congress, etc. and Workshops organized and /or pre-approved by FPSB India or FPCIL

5 OngoingDate of event to be in the validity period

Participation Certificate/Attendance sheet and Event Agenda

Other events related to one of the Financial Planning components* or other relevant matters on Economy and Finance

230-Jun-

12Date of event to be in the validity period


Financial Planning Association’s (FPA) Annual Convention in US

10 OngoingStarting Date of convention to be in the validity period


Meetings of the Board of FPSB India and appointed Committees

3 OngoingDate of meeting to be in the validity period


Board Meetings of entities in the BFSI sector 3 OngoingDate of meeting to be in the validity period



Sr. No.

CE Category CE Program/ ActivityCE Points (CEPs) Ad-missible

Validity of Program/ Activity

RemarksRelevant Documents

Admissible

5 QuizQuiz in the Financial Planning Journal or solving queries in the Newspapers/other journals

4 30-Jun-12Month of Journal/ quiz to be in the validity period

Result Sheet

6 Teaching

Training and Teaching assignments other than performed/undertaken as part of profession (Workshops, Institutes, Classroom teaching, etc.) (Full day assignment)

5 30-Jun-12Sessions to be in the validity period.

Acknowledgment letter from the College/Institute mentioning the date, topic & number of hours of lecture/ training/workshop

7 SpeakershipSpeakership in a Seminar, Convention, Conference, etc.

5 30-Jun-12Date of event to be in the validity period

Acknowledgment letter from the College/ Institute mentioning the date, topic & number of hours of lecture/ training/ workshop

8Survey Re-sponse

Completion of FPSB India's Job Analysis Survey towards restructuring syllabus topic list for CFPCM Certification Program

3 30-Jun-12

Surveys will be intimated through e-mails, will also be on FPSB India's website for specified durations.

Online submission; shall be captured in the survey data (complete submission only considered)

9 Pro bono work

Pro bono work which can be classified as voluntary contribution to the community, helping the deprived people with transfer of knowledge culminating into construction of Financial Plan

5 Ongoing

The construction and submission of the Financial Plan has to be in the applicable period for the award of CEPs

Copy of the Financial Plan constructed for the household in case of Pro bono work

10 Others

Participation in TV Shows/interviews 3 30-Jun-12Date of Show to be in the validity period

Participation Certificate/At-tendance sheet & Event Agenda/ Event schedule

Answering questions/Queries in newspaper/magazines

3 30-Jun-12Date to be in the validity period


Grace Points Up to 2 Ongoing

To be decided on case to case basis or recommended to attend a specified program


* Components of Financial Planning: Financial Management, Asset Management, Risk Management or Insurance Planning, Tax Planning, Retirement Planning and Estate Planning

1 The requirement of acquiring 15 CE points (CEPs) is immediately after the issue of initial certification and falls due when the certificant renews his/her certification at annual intervals.

2 The CEPs are to be acquired in certification period and any excess points are not carried forward in the next certification period.

3 The failure to renew on due date apart from late renewal penalty entails requirement of earning extra CEPs only beyond 6 months of due date of renewal.

4 Failure to fulfill the Continuous Education criterion within the prescribed period will result in non-renewal of CFP Certification and will also preclude any use of the CFP marks by the certificant.

5 Unsupported, misstated or fraudulent reporting of CE credits shall be viewed seriously and may call for action by FPSB India and may be a ground for disciplinary action leading to revocation of the CFP Certification.

Important Points:

ContinUoUs eDUCation


CUrrent / UpCoMinG events7List of current/upcoming events for inclusion on FPSB India’s website that will be of interest to FPSB Indias stakeholders

Date Event Location

Oct 27, 2012 Efficient Use of Debt in the Investment Portfolio New Delhi

Oct 13, 2012 Strategies to Analyze Case Studies Mumbai

Sep 22, 2012 Real Estate- Wealth Creation & Taxation Strategies New Delhi

Sep 15, 2012 Tech Anlys – An Effective Tool for Wealth Creation Mumbai

August 25, 2012 Importance of Life & Non Life Insurance Mumbai

July 28, 2012 How to analyze Annual Report - 1 New Delhi

July 21, 2012 How to analyze Annual Report Mumbai

July 14, 2012 Financial Plan Construction - 2012 Chennai

June 23, 2012 Regional Chapter Meet Mumbai

June 16, 2012 Special Session Mumbai



June 1, 2012 Regional Chapter Meet Kolkata

May 18, 2012 Faculty Meet Mumbai

Regional Chapter To help CFPCM Certificants who want to start their financial planning practice covering the following but not limited to:

• Making a Business Plan• Raising Debt/Equity• Staffing• Setting up the firm • Marketing and Business Development • Financial Planning Process • Any other aspect

Faculty Meet To augment the need of strong focus on education standards by our Education Partners’, FPSB India initiate a Train the Trainer program. This session invited faculties of the Education Partners’ to solve their doubts and discuss the new syllabus pattern.

Special SessionTo help build a better connectivity and understanding with the candidates, FPSB India held “Special Sessions” exclusively for the candidates pursuing the CFPCM Certification Program. These sessions entertained queries related to the CFPCM Certification program by Knowledge Management Team of FPSB India. The faculties of our Education Partners were also invited as special invitees.

The purpose of these sessions was to facilitate the candidates clear their academic doubts thus enhance the quality education so that the candidates are well equipped to seek knowledge and participate in the body of knowledge for the benefit of Financial Planning Profession in India.

Other Initiative By FPSB India FPSB India prepared a detailed response on the questions enumerated by Financial Sector Legislative Reforms Commission (FSLRC) Working group on Pension products and Small saving as a part of consultations with the stakeholders in the first week of April 2012. The questions were primarily related to the pension sector and products which have been comprehensively covered in the response. Along with the same FPSB India has also presented the current scenario in the Financial Planning Industry and how pension products can be distributed more effectively adopting the Financial Planning approach.

FPSB India also submitted a detailed response on the consultation report published by International Organisation of Securities Commissions (IOSCO) on “Suitability Requirements with respect to the Distribution of Complex Financial Products” in the third week of May 2012. The report mainly comprises of nine points which are mentioned in the media statement released by IOSCO in February 2012. FPSB India’s response covers in details the aspect of distribution of complex financial products in the context of Indian markets and consumers

FPSB India prepared a report on the indicators and trends and the expected future developments in Indian economy in the current scenarios in May 2012. Various Data like GDP growth rate, major economic events , economic cycles have been mentioned and analysed in detail. The report is an effort to understand the direction of the economy vis-a-vis growth scenario and Investment opportunities. The report will help the practising financial planners and other stakeholders understand the economic environment in relation to the wealth creation opportunities

Alexa.com Ranking of FPSB India’s website The ranking of FPSB India’s website www.fpsbindia.org improved drastically to around 10,000 in the run up to March, 2010 from 73,530 as in November, 2009. The ranking is in terms of traffic of visitors on our website and is confined to within the Indian territory.

Date Alexa India Rank

31-March-2010 10,689

31-March-2011 35,267

31-March-2012 29,853

30-Sep-2012 106,930


Ethics/Practice Standards disciplinary cases Number of cases

Cases opened NIL

Cases concluded NIL

Number of public disciplines NIL

Number of unauthorized use/misuse of the marks cases processed during the quarter.

Marks Promotion/Protection

Marks disciplinary cases Number of cases

Unauthorized Use *

Cases opened -

Cases concluded -

Misuse **

Cases Opened -

Cases Concluded -

* Unauthorized use cases = Individuals/entities use the Marks without being licensed to do so.

** Misuse cases = Properly licensed individuals/entities use the Marks in a manner which does not comply with FPSB guidelines/trademark law.

ethiCs anD DisCipline / praCtiCe stanDarDs8


The updated list of FPSB India’s Board of Directors is given below:

S.No Name Designation Designation & Company

1 Mr. D. Swarup ChairmanFormer ChairmanPension Fund Regulatory and Development Authority (PFRDA)

2 Mr. Ranjeet S Mudholkar Vice Chairman and CEOVice Chairman & Chief Executive OfficerFPSB India

3 Mr. Amitabh Chaturvedi DirectorVice ChairmanPurple India Holdings Limited

4 Mr. Anup Bagchi DirectorManaging Director & CEOICICI Securities Ltd.

5 Mr. Gautam Chikermane DirectorExecutive Editor – BusinessHindustan Times

6 Mr. Jaydeep M Kashikar DirectorDirectorBrain Point Investment Centre Pvt. Ltd.

7 Mr. Kedar Desai DirectorPartnerDesai Desai Carrimjee & Mulla, Advocates & Solicitors

8 Mr. Mukesh D Dedhia DirectorManaging DirectorGhalla & Bhansali Securities Pvt. Ltd.

9 Mr. Rajan Ghotgalkar DirectorManaging DirectorPrincipal PNB Asset Management Company Pvt. Ltd.

10 Mr. Sharad Sharma DirectorCountry Head- Wealth Management, IndiaBNP Paribas

11 Mr. Sundeep Sikka DirectorPresident & CEOReliance Capital Asset Management Ltd.

12 Mr. Suresh Mahalingam DirectorManaging DirectorTATA AIG Life Insurance Co. Ltd.

13 Mr. Venkatraman Murali DirectorChief General Manager (New Businesses)State Bank of India

14 Mr. Vivek Law DirectorEditorBloomberg UTV

list oF boarD oF DireCtors9


The updated list of Charter Members of FPSB India is given below:

S.No. Company Representative Designation

1 Aditya Birla Money Mart Limited Mr. Pankaj Razdan Deputy CEO – Financial Services

2 Alliance Bernstein Mr. Shailesh Haribhakti Representative

3 ASK Wealth Advisors Private Limited Mr. Rajesh Saluja CEO & Managing Partner

4 Axis Bank Limited Ms. Shikha Sharma MD & CEO

5 Bajaj Capital Limited Mr. Rajiv Deep Bajaj Vice Chairman & Managing Director

6 Barclays Bank PLC Mr. Satya Narayan Bansal CEO - Barclays Wealth

7 Birla Sun Life Insurance Company Limited Mr. Ajay Srinivasan Chief Executive Financial Services

8 BNP Paribas (SA) Mr. Sharad Sharma Country Head - Wealth Management

9 Citibank N.A Mr. Sourabh Kumar Country Investments and Insurance Director

10 Daiwa Assest Management (I) Pvt. Ltd. Mr. Sethuram Iyer Chief Executive Officer

11 Destimoney Securities Private Limited Mr. Sudip Bandyopadhyay President

12 Deutsche Bank AG Mr. Ajay Bagga Head & MD - Private Wealth Mgmt.

13 Dhanlaxmi Bank Mr. PG Jayakumar Managing Director & CEO

14 Dynamic Equities Private Limited Mr. Shailesh Saraf Managing Director

15 Edelweiss Financial Services Ltd Mr. Vikass M Sachdeva Chief Executive Officer

16 FIL Fund Management Private Limited Mr. Suraj Kaeley Director – Sales & Product Development

17 FPI Padmakshi Financial Planning & Wealth Management Mr. Sean Kelleher Group-Director

18 Franklin Templeton Asset Management (India) Private Limited Mr. Vivek Kudva MD-India & CEEMEA

19 Geojit BNP Paribas Financial Services Limited Mr. C.J. George Managing Director

20 HDFC Asset Management Company Limited Mr. Milind Barve Managing Director & CEO

21 HSBC Limited Mr. Gannesh BharadhwajHead Wealth Management Personal Financial Services India

22 ICICI Bank Limited Dr. G. Ramachandran Head – Global Research Group

23 ICICI Prudential Asset Management Company Limited Mr. Nimesh Shah Managing Director

24 ICICI Prudential Life Insurance Company Limited Mr. Tarun Chugh Chief – Alternate Distribution

list oF Charter MeMbers oF Fpsb inDia10


S.No. Company Representative Designation

25 ICICI Securities Ltd. Mr. Anup Bagchi Managing Director & CEO

26 ING Financial Services Private Limited Mr. Rajan Pathak Vice President & National Head

27 Karvy Stock Broking Limited Mr. Hrishikesh Parandekar Chief Executive - Wealth Management

28 Kotak Mahindra Bank Limited Mr. C. Jayaram Joint Managing Director

29 KZen Equities Services Pvt. Ltd. Mr. Rahul Patel Managing Director & Partner

30 L&T General Insurance Company Ltd. Mr. Joydeep Roy Chief Executive

31 L&T Mutual Fund Mr. Ashutosh Bishnoi Chief Executive Officer

32 Life Insurance Corporation of India Mr. Arvind Swaroop Secretary- Field Personnel Training

33 Mirae Asset Global Investments (I) Pvt. Ltd. Mr. Jishan Yoo Chief Executive Officer

34 MetLife India Insurance Company Limited Mr. Rajesh Relan Managing Director

35 Motilal Oswal Securities Limited Mr. Nimesh Mehta Head Sales & Distribution

36 Networth Stock Broking Limited Mr. S.P.Jain Chairman & Managing Director

37 Principal PNB AMC Private Limited Mr. Rajan Ghotgalkar Managing Director

38 Reliance Capital Asset Management Limited Mr. Sundeep Sikka President & CEO

39 Reliance Life Insurance Company Limited Mr. Malay Ghosh President

40 Reliance Securities Limited Mr. Vikrant Gugnani Executive Officer

41 Religare Enterprises Limited Mr. Sunil Godhwani Chairman & Managing Director

42 SBI Funds Management Private Limited Mr. Deepak Chatterjee Managing Director

43 SBI Life Insurance Company Limited Mr. M N Rao Managing Director & CEO

44 SKP Securities Limited Mr. Naresh Pachisia Managing Director

45 State Bank of India Mr. Rajeev N Mehra General Manager (FPWM)

46 Standard Chartered Bank Mr. Vishal Kapoor Head Relationship Management – Private Banking India

47 TATA AIG Life Insurance Company Limited Mr. Suresh Mahalingam Managing Director

48 TATA Asset Management Limited Mr. Sanjay Sachdev President & Chief Executive Officer

49 UTI AMC Limited Mr. Debashish Mohanty Country Head – Retail Sales

50 World Gold Council Mr. Ajay Mitra Managing Director

list oF Charter MeMbers oF Fpsb inDia


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SEPTEMBER REPORT - FPSB India

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