The Indian Institute of Management, Lucknow (IIM Lucknow) has partnered with the Financial Planning Standards Board (FPSB) to enhance the expertise of students and working professionals in financial planning.
A certification program in Financial Planning will be launched in the 2024-25 academic session. This collaboration aims to meet the increasing need for skilled professionals in the financial planning industry.
During the MoU signing event, Professor Archana Shukla, director-in-charge of IIM Lucknow, emphasised the institute's dedication to providing a comprehensive education that not only broadens students' knowledge but also equips them with practical skills for the dynamic financial sector.
"The complex financial problems we face require modern, calculated solutions. This partnership with FPSB India underscores our commitment to innovation, industry-relevant education, and collaboration for the benefit of students and the industry. As we work towards a 'Viksit Bharat', it's crucial that our Finance and Accounting curriculum remains dynamic and relevant, preparing our students to effectively address evolving financial challenges," she added.
Key outcomes of the MoU include:
Introduction of Certification Program in Financial Planning: Launch of a comprehensive certification program designed for students and professionals, combining academic rigour with practical skills.
Enhanced Financial Planning Education: A joint effort to raise the standards of financial planning education in India, ensuring students gain industry-relevant knowledge and training.
Professional Certification Integration: Merging IIM Lucknow's academic excellence with FPSB India's certification process, offering a pathway to obtaining the globally recognised certification.
Skilled Workforce Development: Addressing the industry gap by preparing a new generation of financial planners equipped with the skills to offer comprehensive financial services.
Global Career Opportunities: Empowering individuals to pursue rewarding careers both in India and internationally, maintaining the highest standards of professionalism and integrity.
Krishan Mishra, CEO of FPSB India, stated, "With partners such as IIML, we aspire to nurture the next generation of professional financial planners, equipped with a skillset to offer the most holistic services to consumers. With this association, we aim to fill the industry gap for a skilled workforce in the financial planning sector."
Professor Vikas Srivastava, Dean (Programmes) at IIM Lucknow, highlighted the necessity of introducing this program: "As we navigate through an ever-evolving financial environment, equipping our students with the skills and knowledge to excel in financial planning is imperative. IIM Lucknow's partnership with FPSB India is a step towards fulfilling this crucial need and fostering a generation of adept financial planners."