With growing investor base, demand for professional advice has never been higher: FPSB CEO Dante De Gori

As more Indians enter the world of investments, managing money is proving to be just as complex as making it. This is where the role of trusted financial advice becomes crucial. To explore the evolving dynamics of financial planning in India, Teena Jain Kaushal, Personal Finance Editor of Business Today caught up with Dante De Gori, CEO of the Financial Planning Standards Board (FPSB) — the global body that sets professional standards and issues the Certified Financial Planner (CFP) certification across 28 countries.

In this conversation, he outlines India’s financial planning profession growth prospects, how regulatory frameworks compare globally, and what’s being done to address challenges like mis-selling. Edited Excerpts. 

BT: How do you view the financial planning profession evolving in India compared to global markets? Is having 3,200 CFPs enough for a country of this scale?

Dante De Gori: No, 3,200 CFPs are not enough for a country of over a billion people. But the number is growing, and that's a positive sign. India recently crossed the 3,000 mark for the first time, and there’s significant interest from aspiring professionals.

Compared to markets like the US, UK, or Australia, India’s financial planning profession is still in its early stages. Those markets have had more time to mature and institutionalise financial advice. In India, there's growing awareness — but we still need to build public trust and educate consumers about the value of financial planning.

BT: In India, financial advisors need to register under SEBI’s RIA framework. How do you assess India’s regulatory setup compared to global standards?

Dante De Gori: Every country has a unique regulatory ecosystem. Globally, some markets have multiple regulators, while others operate under one unified body. It’s not a one-size-fits-all model.

What matters most is that regulators help build public trust in financial services. A big part of that is promoting awareness about certified professionals like CFPs. Around the world, regulators often direct consumers toward the CFP certification as a benchmark for trustworthy, ethical advice.

BT: Given the demand-supply gap, does FPSB have specific plans for India?

Dante De Gori: Absolutely — but our expansion has to be sustainable. We want to grow the number of certified professionals while maintaining the high standards our certification stands for.

There are three parts to our strategy: Awareness — Many people still don’t know about the programme. Partnerships —We’re working with government bodies, regulators, and media to promote awareness. Third is Financial Literacy — Not everyone will engage a financial planner, but they still deserve access to reliable financial education. We’re working on scalable public education efforts so people can make better decisions — even if they’re doing it themselves.

And importantly, we want to help the public distinguish trustworthy voices from unqualified influencers on social media, which is an increasing concern worldwide.

BT: With newer asset classes like crypto and increasing volatility, how is FPSB preparing planners to navigate this evolving landscape?

Dante De Gori: It’s a challenge and an opportunity. We work with international regulators to stay ahead of trends. Topics like crypto and social media influence are being actively discussed.

We continuously review and update our global curriculum and body of knowledge. Financial planners are required to complete ongoing professional development annually — covering everything from tax law changes to emerging risks like unregulated assets.

We also provide learning modules on topics like crypto, retirement planning, and sustainable investing, so planners can offer sound advice based on current realities.

BT: Mis-selling remains a concern in India. What can we learn from other countries?

Dante De Gori: Mis-selling is a global issue — it’s not unique to India. Wherever financial products exist, mis-selling exists. The goal isn’t to eliminate it overnight, but to minimise it through regulation, education, and ethical standards.

Our solution is twofold. First, ensure that those who interact with the public are qualified, trained, and ethically bound to act in the client's best interest — what we call a fiduciary duty. Second, empower investors to verify sources, ask questions, and even seek second opinions — just like we do with doctors.

Enforcement is key. Laws prohibiting mis-selling exist in many countries, but they must be properly implemented. This is especially critical now that social media has become a breeding ground for misleading advice.

BT: What would you say to young Indians considering a career in financial planning?

Dante De Gori: I’d encourage them to look into the CFP programme here in India. Financial planning is not just about selling insurance or recommending mutual funds. It’s about helping someone achieve life goals — whether it’s paying for their child’s education, planning for retirement, or funding a wedding.

If you’re passionate about helping people gain control over their financial lives and work towards financial freedom, this is a meaningful and rewarding career. And with India’s growing investor base, the demand for professional advice has never been higher.