Skills required for CFP


A CFP is a globally recognized course in financial planning, helps you stand apart from other financial advisors, given the additional edge you have since as a member of CFP. Moreover, if you’ve convinced yourself to invest time in doing this course, here’s what you should know about the course.

  • A head for numbers

Since personal finance involves numbers, you should be in awe of them, ready to do complex calculations, work out different permutations and combinations.

  • Good grasping power:

The syllabus is vast and requires a lot of practice. It helps if the candidate is a fast reader and has a good grasping ability.

  • Quantitative ability:

CFP syllabus is very numerically strong and can sometimes be tedious with its long calculations. Strong quantitative skills are beneficial.

  • Multi-tasking:

Most candidates complete this course along with other studies or while doing a full time job, so they must be able to multi-task and find time for exam preparation.

  • Diligence and Discipline:

The program is spread over 5 exams (for regular format) and hence requires regularity and diligence on the part of the candidate to keep up the momentum. The onus of scheduling the exam lies on the student, so the more diligent you are, the faster you can finish the program.
A lot of candidates have benefited from enrolling in coaching institutes to help them understand tough concepts, manage their study time and practice mock tests. Having regular discussions with a peer group also greatly helps in understanding complex topics.

  • Problem Solving Skills

This is a basic trait expected from every professional, and CFPs, as financial planners need to posses this skill set, especially during times of economic recessions or volatile market conditions.

  • Good Communication Skills

CFPs find their target audience in corporate employees, HNIs, foreign investors, NRIs, etc. Thus, their client base is spread out globally and come from various backgrounds. To understand their financial goals, CFPs need to possess good communication skills so that they can give them the optimum solution. CFP being the financial doctor, has to himself take efforts so that the client develops confidence and discloses financial information, assets possessed, pending liabilities which makes his work easier.

Like every other professional course, the CFP course requires one to be abreast with latest knowledge and keeping track of changes in taxes and regulations.