People Moves

Thai Financial Planning Group Aims To Boost Advisor Numbers To 100 In 2012

Vanessa Doctor Asia Correspondent 25 May 2012

Thai Financial Planning Group Aims To Boost Advisor Numbers To 100 In 2012

The rising number of wealthy individuals in Thailand has increased the demand for professionals that offer wealth planning assistance. 

According to the Thai Financial Planners Association, the non-profit regulatory body that determines the professional standards followed by financial planning practitioners, of the 75 million savings accounts in the country, at least 10 per cent will need the services of financial planners. To-date, the group says that out of the 140,000 CFPs in Asia, only 85 are based in Thailand. The TFPA aims to increase this number to 100 this year.

"Asians are getting wealthier, thanks to economic growth, while the demand for financial planning advisors continues to rise across the region, including Thailand. Other countries have 1,000 planners on average," said Teera Phutrakul, chairman of TFPA.

The group offers six modules of financial planning courses for its members and CFPs are required to pass several tests every two years to renew their status. The TFPA works under the Ministry of Commerce, through the collaboration of The Stock Exchange of Thailand and the Thai Financial Planners Club.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes