Financial Planning Standards Board (FPSB) India is an Indian professional body based in Mumbai that deals with setting professional standards. Its mission is to develop and promote financial standards to benefit and protect the entire nation as a whole. FPSB India works closely with nearly all aspects of the Indian economy. As a professional membership and certification firm, it is part of a global organization to establish beneficial and universal standards for financial planning in India and works with prominent financial service corporations.
As a self-regulatory organization, FPSB India promotes and maintains higher standards of professionalism than required and seeks to cooperate with the government and regulation agencies to uniformly regulate personal financial planning practitioners.
FPSB India holds itself to a higher standard through its code of ethics and rules of professional conduct, which is mandated for all members and is licensed for CFP through its affiliate agreement with FPSB Denver, USA. Other peer countries are Australia, Austria, Belgium, Brazil, Canada, China, China Taipei, France, Germany, Hong Kong, Indonesia, Japan, Malaysia, New Zealand, Republic of Korea, Singapore, South Africa, Switzerland, United Kingdom and the United States.
There is a push to establish international financial standards, increase financial literacy, and create a suitable redressal mechanism for investors in India to improve the development and financial health of the country. Other financial services firms around the world have this as a goal as well, as it affects the overall economic health of a nation and the credibility of specific institutions. Many leading financial services firms are coming together and attempting to professionalize the industry by setting international standards. Currently over 200 firms in 20 countries are aiming towards this objective.