The Indian Institute of Management, Lucknow, has signed an agreement with the Financial Planning Standards Board India to meet the ever-increasing demand for professionals having the capability to render world-class financial planning advisory services. This collaboration has been put on paper via an MoU signed by Professor Archana Shukla, Director-in-charge, IIM Lucknow, and Krishan Mishra, CEO of FPSB India. The MoU will bring in a holistic certification program in Financial Planning, which will take effect in the academic session of 2024-25.

Bridging the Gap in Skills

The new certification program will help students and professionals alike; it will have academic rigor combined with practical skills. This initiative is conceived and structured to raise the standard of financial planning education in India so that the participants acquire industry-relevant knowledge and training. Elaborating on the need, Professor Shukla said, “Complex financial problems require modern, calculated solutions.

A Holistic Approach to Education

The collaboration is also looking at an avenue by which the globally recognized CFP® certification could be achieved by merely combining IIM Lucknow’s academic excellence with the FPSB India certification process. This union is aimed at grooming a new generation of financial planners to provide holistic financial services and meet the dynamic needs of the industry.

Krishan Mishra, too, has expressed enthusiasm, stating the advantage the partnership brings to fill up the skill deficit in the financial planning profession. He adds, “This partnership will not only bridge the current skill gap but also equip people for a successful career in the financial planning sector” .

Preparing for Global Opportunities

This initiative is aimed at fostering professionals who would meet the requirement of this sector, not just in India but the world over. By adopting a judicious mix of professional certification and academic training, this program will help the graduate become a trusted advisor within the financial planning industry. According to Professor Vikas Srivastava, Dean (Programmes), IIM Lucknow, “In view of the fast-changing financial landscape, it was downright essential to have such a programme that could arm our students with necessary skills and knowledge in financial planning”.

Conclusion

This great collaboration of IIM Lucknow with FPSB India is a serious step in the line of enhancing education in financial planning within India. The course looks forward to churning out a generation of adept financial planners who would function as drivers of growth and prosperity for the industry and the broader economy, thereby contributing to a more financially literate society.