CFP course details:
Certified Financial Planner (CFPCM) is one of the most prestigious and internationally accepted Financial Planning qualification recognized and respected by the global financial community. CFPCM mark is regarded as gold standard in the field of financial advisory and wealth management.
FPSB India is the principal licensing body that awards CFPCM Certification in India through an agreement with FPSB Ltd. CFPCM Certification is the highest level of Certification worldwide in the field of Financial Planning with over 1,00,000 CFPCM holders and widely respected by consumers, professionals & industry. FPSB India is an Affiliate of FPSB Limited, which is a non-profit association that manages, develops and operates certification, education and related programs for financial planning organizations around the world.
What is Financial Planning?
Financial planning is the process of ensuring that right amount of money is available at right time. It acts as a bridge between where we are today and where we want to be in future and ensures the financial well-being of the client. A Certified Financial Planner is one who takes a holistic view of the financial life of an individual and provides him with strategic advice in regard to investment, insurance, tax, retirement and estate needs. Unlike product sellers who represent the interest of manufacturers of these products, a Certified Financial Planner works for the consumer and does not have any particular product in mind when approaching a client.
Career options in CFP
CFP certification ensures enhanced career and employment opportunities with Financial Services companies, banks, distribution houses, AMC, insurance Companies, equity broking and Financial Planning firms. Various roles offered to a CFP charter holder includes Relationship Managers, Wealth Managers, Financial Planners, Financial Advisors, Investment and Insurance Advisors, Functional Heads, Business Heads, Specialists, Senior Planners, Senior Advisors and Team Leaders. A brief description of few roles is given below:
Financial Planners: Experts at managing personal finances with sound knowledge about multiple financial investments.
Wealth Managers: Consultants appointed by banks to their HNI investors, as it comes to identifying goals and choosing right investments.
Channel Managers: Asset Management Companies appoints Channel Managers for managing the various distribution channels like banks, NBFCs, National Distributors etc.
Investment Advisory: Experts at advising the clients on the optimum asset allocation and their portfolio management. SEBI approves the CFP certification for the Investment Advisory roles.
Who should pursue CFP?
The course is suitable for Graduates & postgraduates or any financial services professional, existing wealth managers, Customer relationship manager, insurance advisors and research analysts who want to polish his skill set and get an extra edge in this competitive environment.
CFP Curriculum: The certification covers six modules as follows:
There are 2 pathways for achieving the CFPCM Certification and the educational qualification required for each is different.
CFP Regular Pathway
- A Candidate registered under the Regular Pathway must be SSC/Matriculation/10th pass at the time of enrollment.
- He/She must pass the 5 examinations either through self-study or through training support from any one of the FPSB India’s approved education providers.
CFP Challenge Status Pathway
- A Candidate registered under the Challenge Status Pathway must be a CA/Intermediate Level, CFA (US), ICWA, CAIIB, CS, LLB, Ph.D., M. Phil, PG, Licentiate/Associate/Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service Examinations by UPSC. A candidate also needs to possess Pre CFPCMExperience (3 Years in Financial Services industry & 5 Years in Non-Financial Services Industry). Such candidate has to only pass the AFP examination directly without the need of appearing for other modules.