CFP certification in India is one of the globally recognized certifications with the highest quality standards in personal financial planning. Certified financial planners provide comprehensive financial advice to their customers ranging from insurance, taxation, legacy planning, real estate and financial investments.

cfp certification in India

In this blog, we’ll decode the time, educational prerequisites and skill-sets required to become a Certified Financial Planner.

The Course Of Study

It takes anywhere between nine months to two years to complete the certification. The Certified financial planner title is awarded by Certified Financial Planner Board of Standards i.e. CFP board in the United States. CFP certification in India is conferred by the Financial Planning Standards Board of India (FPSB India).

To receive this designation, the student should meet eligibility criteria which include 4E’s i.e. education, examination, experience and ethics. Certified financial planners help their customers in a wide assortment of ways. Hence, the course curriculum includes all aspects of financial planning.

Educational Prerequisites

The very first criterion for applying CFP is to fulfil educational requirements. The candidate should have minimum bachelors or higher degree or its equivalent in any discipline from an accredited university. A candidate should complete six modules curriculum defined by CFP certification education program by the accredited institute.

Also, he/she need to pass the relevant exams 1-4 by NSE. Only after the candidate successfully completes the examinations 1, 2, 3 & 4, he/she is eligible to appear for the Advanced Financial Planning examination i.e. Exam 5.

Below are exam modules for CFP:

  • Introduction to financial planning
  • Risk analysis and insurance planning
  • Retirement planning and employee benefit
  • Investment planning
  • Tax planning and estate planning
  • Advanced financial planning

Examination

CFP certification examination is a computer-based exam. The exam consists of 170 multiple choice questions broken into two sessions with a 40-minute break. Candidate will get 3 hours to complete each section. The passing % is above 50% with no negative marking. The grading system is used to provide the grades. In India, The National Stock Exchange (NSE) has been appointed by FPSB India to conduct the CFP Certification in India Examination.

Experience

The personal financial planning experience is a must have. Under the Regular Pathway, the candidate may complete this criteria pre or post Exam 5. However, under the Challenge Status pathway, a candidate needs to have attained this relevant work experience before appearing for Exam 5.

Ethics

During initial certification, one needs to undergo an extensive background check to get approved by the CFP board. This background check includes ethics, criminal check and character. Candidates are required to adhere to the CFP code of ethics and rules. The CFP Certification in India board has the right to take any decisions based on a background check.

Career Path

Perceiving Financial Planning’s professions benefits, there are many studies that demonstrate a career in Financial Planning as the best career decision in India. This profession ranks high when it comes to job satisfaction. Independent financial planner’s job is to listen and understand the situation of their clients and provide the right solution to them.

They have two level satisfactions; one is satisfaction after delivering a better solution to the client that makes them happy and the second one is pursuing an excellent career development path. Banks, financial firms, mutual funds houses are always scouting for qualified and experienced CFP certified professionals.

Along with this, here are the additional benefits of CFP certification:

  • Globally recognized certification
  • Advanced career opportunities in financial services
  • Job satisfaction
  • High-income generation
  • Dynamic working opportunities (individual or firm)
  • Good reputation in the market
  • The global benchmark in competency

The primary advantage of CFP is a single certification giving you a high level of credibility and qualification. Many professionals take this course as an addition in the current profession. This course will provide you with the flexibility of working as an individual financial planner or join any firm, or you can also switch into the teaching profession. In short, CFP Certification in India you a promising career path.