The movers and shakers of the global financial planning industry are meeting in Mumbai to discuss the growth of the wealth management industry in India.The Financial Planning Standards Board (FPSB) India’s Financial Planning Convention 2005, being held on October 19-20, will deliberate over a growing market, but one with an absence of regulation for planners, advisors and brokers.While India’s financial products industries (mutual funds, insurance and direct stocks) have strong regulation in place, both at the entry level and on-going over the years, the market is virtually a free-for-all at the final customer interface. In this backdrop, the emergence of a certified unbiased intermediary who will advise a growing population of middle-class and newly-rich people is very important.The convention, with eight international speakers from US, Australia and South Africa, will be addressed by the capital market regulator M Damodaran, the CEO of FPSB, US Noel Maye, Sailesh Haribhakti, Chairman of FPSB India amongst others from the Indian insurance, mutual fund and financial planning firms.
