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One must have realized from the Industry Overview that the Global Order change and in turn Indian Economic trajectory transformation has brought quick & huge requirement for Skilled & Qualified resources to handle Financial Planning domain called as Financial Advisors & also Financial Services (including Business Strategy) domain called as Business Advisors. Our BBA, MBA & Integrated BBA-MBA Programs have been specially woven to create Financial & Business Advisors.
Understanding Why there has been a growing need for Qualified & Knowledge-based Financial Advisors (For Financial Planning):
Direct/ Active Investing culture in India is evolving rather quickly, with active Investor accounts rising by a record 10 Million+ (roughly 27% rise) in 2020, wherein the retail ownership of companies listed on the NSE has jumped to 9% in the third quarter of 2020. Considering that, if Crores of new investors are going to enter the markets and we assume that one Advisor would be needed for every 50-100 investors, the opportunities are huge!
A majority of the new investors are young people who are tech-savvy, have information at their disposal, and are knowledge seekers. They do business based on value-driven rather than relationship-oriented. They would prefer someone for sound financial advice rather than an old relationship and would like to get it done at the least cost (preferably on paying Consultation fees rather than been subject to brokerage).
Also, the recent regulatory changes suggest that agency/brokership-based incomes shall continue to reduce from here which has been the trend in recent 2-4 years (Commissions & Brokerages in Mutual Funds & Equities already declining) with the arrival of Discount brokerages & Direct Funds. Even SEBI is keen on introducing further regulations & steps to ensure reduction in middlemen role while at the same time trying to ensure that only technically qualified people act as Investment advisors (such as mandatory qualification as Registered Investment Advisor-RIA License along with the possession of an adequate Masters’ Degree in Finance to become a Financial Advisor as required by SEBI) and IRDAI is expected to follow suit.
With the Financial Planning industry flushed with multiple Brokers for varied Financial Instruments domains, Investors nowadays & in times to come shall look for an Advisor who could guide them on a complete Portfolio with authentic knowledge. Further, the Brokers in the industry would experience a major shift in the products that are being sold and that will be sold going forward which is becoming evident day by day. Even the manner of such Products getting sold is changing with more people resorting to Online buying & that too directly from the Product Company rather than any Middlemen. The entry of foreign players will also multiply competition as they would definitely try to adopt the best technology-driven engagements for the clients.
Understanding Why there has been a growing need for Qualified & Knowledge-based Business Advisors (For Financial Services):
With the growing focus on Startups & MSMEs, a lot of action has been happening in such space especially with Startups & MSMEs Exchanges getting set up in BSE, New-age technology-driven innovation driving such Organisations and new age Financing techniques penetrating into Indian Industry. Practicing CAs normally concentrate on the Audits & Taxation needs of such Organisations while no one tends to guide them on Business Strategic aspects.
Also with a lot of disruption expected in many conventional Industries due to new age Economic Policies by Govt, the business models have been changing for which MSMEs & Startups Management find it difficult to engage on their own and counter such issues without any expertise at their disposal.
Additionally, India has a diversified Banking & Financial Services sector, which is undergoing rapid expansion. Such sector is getting well integrated with the IT domain and the new age “FINTECH” Companies are the evolving new.
With Real Estate Investment Trusts already forming up and the future of Real Estate also looking to move towards an online platform, Real Estate Sector is also coming up within the ambit of the BFSI Sector.
The sector is increasingly shifting gears from erstwhile Large Commercial Banks into Small Finance Banks, Micro Finance Institutions, and Non-Banking Financial Companies. Apart from these Broking Houses, Mutual Funds, Real Estate Sector, Credit Rating Agencies, Insurance Companies, and recently launched Payment Banks are looking for Educated professionals with new-age forward-looking practical Education.
Conclusion
In the light of these factors, as India begins a multi-year growth journey, we would require at least a few lakhs of Financial and Business Advisors to advise people on Financial planning (including Investment decisions) & Financial Services (including Business strategy), technically capable with relevant qualifications.
CA (Dr) Aman Chugh, a known brand in the world of Financial Markets, and his team of experts mapped the current discontinuity in the skill set and education structure and realized that existing programs in the market are far beyond giving worthy education to shape up Advisors of tomorrow.
To sum up such practically woven BBA or MBA Programs in Financial Services serve anyone and everyone who is either currently working in this domain or plans to start a career in such booming verticals.
