Future of Certified Financial Planners

Earning money is not tough – everybody makes money! 

But managing money is a different ball game altogether. Not everybody can do that properly. 

Don’t you think so? Hear us out. 

People don’t always know the best ways to manage their money and secure their future. They don’t always have plans for their future, but you can be the person who helps them make financially smart decisions. 

How?

With a course in financial planning, you can control, invest and control their money and future for their benefit. 

Do certified financial planners need special qualifications? Not necessarily. If managing money comes naturally to you, we believe you can be a great financial planner. 

Before we proceed further, let’s clear a common misconception between financial planning and financial advisors. Although these two profiles sound and, at times, similarities overlap, the scope of each concept makes a lot of difference. A financial advisor’s role is to help people or their clients manage their money. 

But, as a certified financial planner, you have additional responsibilities of developing customised financial plans for your clients based on their specific needs. 

Let’s quickly understand the basics of financial planning and certification. 

What is Financial Planning – the Basics?

Financial planning is a guide designed to meet the financial goals of individuals, businesses and major organisations. It gives complete control over the investments, incomes, and expenses to effectively meet their plans. 

The importance of financial planning can never be underestimated. As a financial planner, your goal is not only to reduce expenses and manage income but also to devise methods to achieve future goals. 

  • Wealth creation
  • Retirement and future planning
  • Tax purposes
  • Create contingency plans for the future

Any finance aspirant keen on exploring ways to help people, businesses, and enterprises manage their money can become a Certified Financial Planner. 

Who is a Certified Financial Planner?

Certified Financial Planner has the expertise and knowledge in the areas of taxation, financial planning, estate planning, insurance, retirement planning and more. Certified Financial Planner is a globally recognized certification, accepted in more than 26 countries. 

With a CFP/ wealth management certification under your belt, you can bag several interesting career-building jobs in top-notch companies. You have the freedom to work with individuals planning their retirement, estate, future savings, taxes and education. Or, you can also choose to take up financial modelling for startups and take care of their investments, assets, properties, liabilities and mortgages by evaluating current financials. 

Scope of CFP certification

Need more validation? Trust the numbers.

The total number of registered wealth managers/ financial planners grew significantly between the 2017 and 2021 periods, according to Statista. In 2020, there were close to 2.3 thousand wealth managers – 350 portfolio managers – in India. 

Since the CFP course covers various topics and concepts, there is a wide selection of job profiles. Students are taught different subjects such as investment planning, estate planning, retirement planning and wealth management. 

The growing number of millennials and families with accumulated wealth increases the need for wealth managers in India. The middle class is a dynamic section that plays a constructive role in the nation’s development. In 2021, middle-class spending was close to 70%, but by the year 2030, this share is predicted to reach 80%

The people in this category consider financial planning for the future an essential step in wealth management. They are always searching for various ideas and strategies that aid in investments, savings and growing their wealth. Reports suggest that there is an immediate need for certified financial planning professionals as the economic and financial scenario of the country is changing. 

The comprehensive nature of the financial planning course makes it ideal for students, professionals and finance aspirants to explore several financial career aspects. 

Overview of Financial Planning Job Roles

The career prospects for financial planners are immense. A cursory look into various job portals will tell you the number of job opportunities available for those with a financial planning expert certification. Career opportunities are available in multiple sectors and industries – both private and governmental organisations. 

As a CFP, you have immense opportunities to work for individuals or provide financial modelling for small businesses at your own pace. Working professionals who want to have a strong understanding of financial planning and build a flourishing second career can take up this course. You can earn much more than your regular job when you take up financial planning for individuals or families. The stress is way less, and the rewards increase manifold. 

The work opportunities available for CFP professionals are innumerable. Some of the upcoming sectors where CFPs are intensely sought are:

  • Financial Institutions
  • Insurance
  • Banking
  • Family wealth management service providers
  • Fintech service providers

A broad range of jobs is open to CFPs, such as:

  • Portfolio analysts
  • Risk Management analyst
  • Private bankers
  • Data analyst
  • Fund accountants
  • Investment planning
  • Retirement and wealth management planners
  • Taxation and estate planners

You will be given thorough theoretical and practical training on professional and ethical behaviour, education planning, taxation, financial planning principles, retirement and estate planning, investments, and insurance during the course. 

Salary Packages – what can you expect?

The average base pay of a CFP employee in India is a little more thanINR  5lakhs  per year

There is no denying that specific courses and certifications improve the value of your resume, and one such certification undoubtedly is Certified Financial Planner. Even if you start near the average base salary, you can be sure that your pay scale will improve dramatically over the years. Of course, mid-level and senior-level financial planners will earn much more than entry-level employees. 

Yet, you will make more than your colleague without certification. 

The future of Certified Financial Planners is bright, and the job opportunities are ample. As a CFP, you have the freedom to select the job profile, negotiate a better salary package and get chances to work in multinational companies. Based on your experience and subject knowledge, you can also get job opportunities abroad. 

Where does IMS Proschool Make a Difference?

Many institutes offer the CFP course, but if you want to be trained by industry experts and be flexible, the best place would be IMS Proschool. With IMS Proschool, you get prepared by an authorised education provider of FPSB, the Financial Planning Standards Board. 

Course Structure:

You have also trained in several skill-building courses such as Investment Planning Specialist, Retirement and Tax Planning Specialist, Risk Management and Estate Planning Specialist certifications. Think about how these courses and certifications will add value to your resume. These certifications open the doors to a wide range of career options and salary packages. 

What’s more, as a Certified Financial Planner, you can work entirely on your terms. You can provide your services to individuals or families to manage their wealth and future financial success. The course provided by IMS is structured so that you become job-ready and eligible for any opportunity from the word go. 

Skill-building Certifications:

The course has three major parts – three specialist certifications – which have to be completed (in any order) and one final CFP examination to be successfully awarded the accreditation. 

The three certifications are:

  • Investment planning specialist
  • Retirement and Tax planning
  • Risk management and estate planning

Flexibility:

IMS Proschool offers complete flexibility in learning by providing teacher-led, student-led and live virtual classrooms. This way, professionals, students and experienced candidates can study at their own pace. 

Study Material and Exam Preparation:

Benchmarked and authorised study material is provided by the institute. You get high-quality materials that improve your theoretical and concept-based knowledge and practical, real-life problems. The training is provided by hand-picked industry experts having years of experience teaching. 

IMS Proschool also provides extensive practice tests, mock exams and case studies to increase the subject knowledge and confidence in handling various scenarios. Students are also taught basic steps in financial planning, such as establishing a concrete relationship, gathering clients’ goals, analysing data and developing a customised plan based on the need and aligning it with their goals. 

Students are trained in developing concrete financial plans based on client needs and regularly monitor the financial plan at every stage of implementation. 

Mentorship:

Mentorship is another feather in IMS Proschool, as it has proved to be a successful step in converting students into thought-leaders. With mentors, students can clarify their doubts using real-world support and advice. Mentors are not helpful only in academics, but they are also instrumental in maintaining motivation and confidence in reaching your goals. 

What Does the CFP Course from IMS Proschool Cover?

The syllabus or curriculum followed by IMS Proschool is designed keeping in mind the specific industry needs. The curriculum is drawn up focusing on the core subjects that enhance the skill and knowledge of candidates and make them proficient in their jobs. 

The modules covered in the course include personal financial management, regulatory compliance and law, tax planning, risk management and insurance planning, financial planning principles, and integrated financial planning. 

The course is delivered in a variety of flexible methods suitable to the specific needs of the students. You can choose the path you want to take to reach the certification level. Pick from instructor-led, individual-led and education exemption. 

The individual-led route to certification is a self-paced method where the students can learn the concepts at a comfortable pace. The institute will provide a complete set of books, puzzles, and practice tests needed to ace the exam on this online platform. We have found that this type of learning is most suited for working professionals and those with prior knowledge about financial concepts. 

The instructor-led delivery is more suited for those who excel in the routine and regulated learning mode. You can take up the course in online or offline methods as well. 

Depending on the mode you choose – live virtual classroom and classroom programs – you get comprehensive training from industry experts with practical, real-life examples. 

Who can take up this certification?

Anyone interested in pursuing a career-defining and rewarding course with a higher secondary pass certificate can enrol in a CFP course. 

Are you a degree holder with an urge to change career direction and look to start anew? The CFP course might be ideally suited for your needs. You will receive intensive skill-building training and practical knowledge during your course.

Are you a financial professional looking to upskill and use your experience to scale your career moves? Becoming a CFP could give you the needed specialised skill knowledge, expertise and a globally recognized certificate to boot. 

Are you a student looking to make a career decision that will impact your future? 

You have come to the right place. 

The CFP course has everything you need to make a mark in your chosen field. You don’t have to have core subject knowledge. As long as you are interested in making a difference for your clients, you can pursue a career in financial planning.  

Have you planned your future? Become a Certified Financial Planner.

Regardless of whether you are –

  • a student is trying to figure out the best possible step forward, 
  • a professional trying to change paths or career, or 
  • an experienced financial professional chasing their dreams – the CFP course from IMS Proschool allows you a chance at a rewarding career. 

When you become a CFP, you earn respect and adoration of your clients, primarily individuals you work for and firms, and get a chance to scale new career heights in a brief period. IMS Proschool has everything you need – a professional, globally recognized certification, flexibility of learning, guidance from industry leaders and career assistance. For all other queries, they also offer demo sessions or the chance to talk to a career expert.