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As clear from the name, financial planners are the professionals who plan the funds or money of their clients which is not only a tricky business but also challenging and difficult task. Every individual wants to save and invest the funds for future to fulfill the liabilities and other social commitments be it higher education to children, marriage of children, retirement, house construction, medical and health purpose or any other. Financial planners offer their advice to the persons on their investment and saving options to achieve their social, personal, professional goals and commitments arising in future. Most people need guidance on where to invest, how to save taxes, the best insurance scheme (life as well as medical), which avenue to invest in, which stock to hold and which to sell, how to plan future career of their college going children and their own retirement.The services provided by financial planners are not restricted to individuals but also the corporate and institutional clients such as mutual funds, merchant banks, retirement funds, insurance companies, portfolio manage-ment firms, stock investment companies, banks, financial institutions, tax consultancy and pension managers also require their services. Thus, the financial professionals working as financial planners can be categorized as individual and institutional.
Skill Required
The various skills and proficiency required to be a financial planner include; interpersonal skills, convincing personality, patience, strong Commitment to client, positive attitude, strong analytical ability, problem solving skills, latest information about environment and legislations related to tax, business or profession, initiative, creativity, relationship management, soft skills on computers, logical mindset, presentation and knowledge of local dialect for establishing better connectivity with the clients and time management skills.
Qualification
A candidate must pass Class 12 before enrolling with the Financial Planning Standards Board (FPSB) India and has to fulfill the education criterion, which is passing the four exams either through self-study or through training support from any one of FPSB India’s approved education partners. After this, one becomes eligible to register for the CFP exam administered by the FPSB Board. Then, a candidate’s experience is verified before conferring CFP certification. The experience is considered to be of essence as regards application of financial planning knowledge and skills in one or more of the eight competency profiles outlined under financial planning curriculum framework. A candidate also needs to furnish a valid proof of experience of three or five years. Lastly, each CFP certificant agrees to abide by the board’s code of ethics.
Employment Avenues
Initially a financial planner can start his career with a wealth management firms, HNI, tax consultancy, insurance product distributors, pension funds, financial services firm, banks and financial institutions offering financial products at an entry level position i.e. trainee or executive. Later on with the experience he can be absorbed in middle level management on position of sales manager, wealth manager, relationship manager etc.
Knowledge Process Outsourcing (KPO) firms provide employment to financial planners as Data Analyst, Market Researcher, Client Development Analyst, Derivatives Analyst, Equity Analyst, Research Associate etc.
Banks require qualified and experienced financial planners for managing their investment advisory wing, managers for financial institutional investments and Investment Relationship Manager for their portfolio and merchant banking divisions. For the trade finance divisions relationship managers are required by banks. For retail division and mutual funds wings, the professionals in financial planning are appointed by banks in various capacities.
Self-employment is also the option for those professionals who want to tap the existing potential in their home towns or cities. A desired qualification with a set of skills is necessary conditions for becoming a successful financial planner. The only thing required is interpersonal relations and skills with fundamental knowledge of investment and financial planning.
In print media they can be regular columnists on various specialized products or they can act as panel experts on electronic media covering investment and business news.
The payoff
Some CFPs charge a set amount of fees which can range from Rs. 5000 to Rs. 40,000 per plan. Some CFPs take commission, but they earn by selling financial products. There are some hybrids as well. CFPs can also be hired by companies with an average package of Rs. 4.5 lakh to Rs. 6 lakh per annum
Best Institutes and urls
  • Indian institute of Financial Planning (IIFP), New delhi
  • www.iifpindia.com
  • IMS Proschool, Mumbai
  • www.propschoolonline.com
  • RNIS, New Delhi, and other cities
  • www.rniscollege.com
Most people need guidance on where to invest, how to save taxes, the best insurance scheme, which avenue to invest in, which stock to hold and which to sell, how to plan future career of their college going children and their own retirement etc. Your adviser for all this and more is called a Financial Planner.

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What Blockchain and Bitcoin Mean for the Protection Business You may have heard the expressions "blockchain" or "Bitcoin" utilized as a part of tech hovers in the course of recent years. These ideas, alongside intense utilize cases, are changing how we consider money, exchanges and contracts.

Simultaneously, they're likewise changing how we consider the protection business. These progressions will affect protection bearers and operators, and how protection is purchased and sold. That implies understanding blockchain and Bitcoin is essential in case you're hoping to win in the cutting edge protection industry. This post has you secured. It gives meanings of blockchain and Bitcoin, at that point separates why this data is critical to protection industry experts. 

WHAT IS BLOCKCHAIN? WHAT IS BITCOIN? 

In their book Blockchain Upheaval, Wear and Alex Tapscott clarify that blockchain is "the brilliantly straightforward, progressive convention that enables exchanges to be at the same time mysterious and secure by keeping up a sealed open record of significant worth." The blockchain is intended to store exchange records ("obstructs") in numerous spots, connected to each other (henceforth the "chain" some portion of the name) and straightforward to any client who wishes to see them. Critically, this record can't be changed, so anybody can see a typical and exact rundown of authentic exchanges. Bitcoin is a kind of computerized money that utilization's blockchain innovation. It's not by any means the only one that utilization blockchain, yet is one of the more prevalent alternatives available. Despite the fact that bitcoin is the most famous cryptographic money upheld by blockchain innovation, other advanced monetary forms, for example, ether and litecoin—utilize blockchain innovation too. All bitcoin exchanges are recorded in a decentralized open record that can't be adjusted. In principle, this is something worth being thankful for on the grounds that it makes trust among all gatherings of the exchange and gives an unmistakable trail of procurement that avoids fake exchanges. This is one manner by which blockchain can possibly change exchanges. However, remember that blockchain does not need to be money related. 

Ramifications OF BLOCKCHAIN AND BITCOIN FOR THE Protection Business Blockchain applications like cryptocurency, shrewd contracts and decentralized models for protection will change how protection is appropriated. What's more, when you change how protection is disseminated, you significantly modify how existing players profit and test business as usual. Insurance agencies could utilize the blockchain to make a disseminated record that cultivates straightforwardness, successfully tracks cases and exchange history, and gives perceivability into the authenticity of a claim. Brilliant contracts based on the blockchain can balance deceitful claims by recording exchange history on people in general system, which would dismiss different cases for a similar occasion. This could spare the business billions and open up gigantic chances to make huge measures of significant worth for buyers. Cryptocurriencies can make trust amongst safety net providers and their clients could make trust. For example, INGUARD was the principal insurance agency to acknowledge bitcoin installments. We did this since it was the correct activity for our well informed clients—a state of mind very rare in the protection business today. Consider: 40% of protection premiums turn over every year—and 66% of buyers would purchase protection on the web in the event that they could. 


What's more, and, after its all said and done, they're scarcely happy with back up plan sites. Shoppers don't confide in their safety net providers to put their best advantages on the most fundamental level or execute in a reasonable, break even with way. Bitcoin and blockchain innovation, as we would see it, are devices that can possibly carefully ensure customers, as well as reestablish assume that their needs are being met. Innovation appropriation in the protection business ought to dependably make more an incentive for shoppers. It should expel contact from the purchasing procedure and empower a superior client encounter. What's more, its adequacy ought to be estimated by consumer loyalty, not the amount PR or advertising duplicate another framework creates. That doesn't generally happen. In any case, with the focal points blockchain innovation gives, that could begin to change. Also, that will be advance in reality.
 
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