Explore CFP Certification Course
What is CFP Certification Course?
Certified Financial Planning is among the fastest growing careers in the world. In India, the international CFP certification is awarded by the Financial Planning Standards Board of India(FPSB India). The CFP certification is rated as a Gold Standard and gets its holder acceptance and recognition across a diverse range of Financial organizations in 22 countries around the world. There are currently over 1,00,000 CFPCM Charters worldwide and around 1200 + CFPs in India. As per current industry estimates, the requirement for financial advisers will be around 50000 in the coming years.
Demand for CFP Certification
CFP Certification: Mandated by the Finance Industry and Regulatory Bodies.
An increasing number of multinational banks such as ICICI Bank, Standard Chartered Bank, American Express Bank and others have made it mandatory for their Relationship Managers to acquire the CFP certification in order to raise current service standards to optimum level. Regulatory bodies like SEBI, IRDA, PFRDA etc. are also gradually educating and encouraging consumers to consult CFPs for their financial needs. Along with this, Charter Members of FPSB India have resolved that they will give first preference to CFPCM Charters during recruitment
CFP Certification: Demand from the consumers
With the spread of the internet, consumers now have access to a wealth of information about financial products. As a result, the consumer is evolving with respect to understanding the benefits and working of these products and services. Unqualified advisors will find it difficult to handle such finance-savvy consumers. Only professionals with appropriate knowledge and skill credentials will be able to serve such customers satisfactorily i.e. Certified Financial Planners.
Charters Members of FPSB India (CFP Board)
Where will a CFPCM find opportunity?
| Private Banking | Wealth Management | Life Insurance |
| Tax Planning | Investment Consultancy | Financial Advisory Services |
| Fund Management | Financial Products Designing | General Insurance |
| Portfolio Management | Financial Products Marketing | Insurance Products |
| Mutual Fund | Retirement Planning | Estate Planning |
CFP Path & Salary
| Job profile | Qualification/Experience | Level & Expected Pay (p.a) |
|---|---|---|
| Trainees and executives with wealth managers, banks & product distributors | Pursuing CFPCM Certification | Entry Level salary Rs 2-3 lakh |
| Sales Managers, Relationship Managers, Wealth Managers work experience financial expertise | Pursuing CFPCM Certification | Middle level salary Rs 4-7 lakh |
| Functional heads like retirement specialists, tax specialists and business/regional heads | CFPCM with work exp. and other professional qualifications | Senior Level Above Rs 10 lakh |
CFPCM Examination
| Exam Papers | How to register for Exam | |
| Module 1 : Introduction To Financial Planning | 1. Register with Proschool for study program | |
| Module 2 : Risk Analysis & Insurance Planning | 2. Generate NCFM ID | |
| Module 3: Retirement Planning & Employee Benefits | 3. Register with FPSB India for the regular or the challenge status mode | |
| Module 4 : Investment Planning | 4. Take the Exams at NSE India Centre | |
| Module 5: Tax Planning & Estate Planning | ||
| Module 6 : Advanced Financial Planning. | ||
| Note: No separate exam is conducted for Module no. 1. Weightage of 20% of module no.1 is given in all other modules. |
CFP Requirements and Pathway to do CFP
| Requirements for CFPCM Certification | Pathway of CFP Education: | |
| One needs to fulfill the following four criteria to obtain the CFPCM Certification: | 1. Regular Pathway - Open to all after 12th standard. | |
| Examination: The candidate has to pass the CFPCM certification exam i.e. she/he has to clear all the five papers. | Exam: Candidates have to write all the five exams | |
| Education: 12th Std Pass/Equivalent. | 2. Challenge Status Pathway for working Professional : | |
| Experience: For graduate candidates 3 years of work experience is mandatory either pre or post Certification exam. In case of non graduates the criteria is 6 years of work experience. | 1. Requires additional higher qualification or professional qualification as specified by FPSB India (CA, MBA, Mcom, CFA, CWA,LLB etc) | |
| Experience: For graduate candidates 3 years of work experience is mandatory either pre or post Certification exam. In case of non graduates the criteria is 6 years of work experience. | 2. Requires a minimum of 3 years’ work experience in Institutions/Banks or 5 years’ experience in Financial Services Industry as self employed or in finance related departments of other Industries | |
| Ethics On completion of above requirements, the candidate has to sign declaration for adherence to FPSB India's Code of Ethics & Rules of Professional Conduct | Exams: Candidates have to write only 1 exam of “Advance Financial Planning |
Certification and Exam Fee
| Regular Way | Challenge Status |
| Registration with FPSB India (One year Validity) Rs. 13,800 | Rs. 29,955 ( Rs.15,795 for employee of Charter member) |
| Exam Fee Rs.3540* 4 modules and Rs.7080 for Final Module | Rs.7,080 |
| Total Fee Rs.35,040 | Rs.37,035 (Rs.22,875 for employee of charter member) |
Course Outline
- Introduction to Financial Planning: Financial Planning is introduced with the six-step process which includes Financial Planning process, Client Interactions, Time Value of Money Applications, Personal Financial Statements, Cash flow and Debt Management, Asset Acquisition, Education Planning, Overview of Risk Management, Investment Planning and Retirement Planning, Special Circumstances, Plan Integration, Ethics and Business Aspects of Financial Planning.
- Risk Analysis and Insurance Planning: This module focuses on the knowledge requirements relating to insurance and risk analysis for a CFP certification. It introduces students to risk analysis and insurance decisions in personal financial planning. The end goal for the module is planning for clients’ exposures to mortality, health, disability, property, liability and thus gaining a perspective of the long term risk for the client.
- Retirement Planning and Employee Benefits: This module emphasizes the knowledge requirements related to retirement planning and employee benefits for a CFP professional. This module stresses on the process of wealth creation, retirement planning and strategies for clients.
- Investment Planning: This module provides an introduction to Investment Planning, Investment vehicles, investment strategies, Regulation of an investment advisor, Application to clients, etc.
- Tax Planning and Estate Planning: Portions of Tax Planning and Estate planning that are relevant to a CFPCM professional is covered in this module.
- Advanced Financial Planning: This module brings together all that has been learned and supplements it with other miscellaneous topics. The module caters to the final goal of the course i.e. constructing a comprehensive Financial Plan for a client.
About IMS Proschool
Proschool is India’s leading training provider of CFP Education in India. We have trained more than 16,000 candidates for Financial Planning in India alone.
Milestones of Proschool:
- High Success ratio: Students enrolled with Proschool have a higher success ratio historically. More than 400 CFP and 3000 AFP aspirants have cleared CFP Exams with the help of the Proschool Training Program
- Largest training provider: Study material for the CFP Exam, prepared by IMS Proschool and Published by Tata Mcgrawhill, has helped more than 2000 candidates annually.
- Industry Trainer: Proschool is the leading training partner for financial corporations in India. We have trained more than 16,000 employees of organizations such as IDBI, SBI, ICICI Securities, ICICI Bank, HDFC Life, Deutsche Bank, Citibank, etc. in India.
What makes Proschool CFP Training Programs unique?
- Excel based training: IMS Proschool is one of the very few leading training organizations in India, which delivers all the CFP Exams calculation on MS-Excel. Learning Excel not only help in solving the exam paper quickly but also help you in your long term career.
- Study material: Proschool in association with Tata Mcgrawhill has prepared one of the most extensive and relevant study material for the CFP examination. The evidence: within a short period of 6 months, more than 2000 students have studied Financial Planning through this material in India alone.
- Practice Questions: A large Question base (approximately 300 questions per module) both offline & online will enable students to practice their concepts and will help them to build the foundation that is required to clear the CFP exams.
- Video on Calculations: As per the new exam pattern, most of the questions will be tested on MS-Excel. To make you familiar with these calculations, we have added videos for all the calculations.
- Simulated test paper (Challenge Series): In simulated test papers, you will get questions similar to the real/final exam. You will get 2-3 simulated test papers with solutions per module. Empirically we have seen that students, who score above 70% in these tests, have an 80% chance of clearing the exam. This will help you to save both your time as well as money.
- Question & answer forum: In the QnA forum you can post your queries on any questions from the book and you will get answer through students or our expert faculty.
CFP FAQ'S
No, the CFPCM Certification is suitable for a wide range of professions including but not limited to financial services professionals, customer relationship officers, insurance agents, stock brokers. So if you want to enhance your career in the financial services business and want a certification that is globally recognized in the corporate world then the CFPCM certification is what you need.
The current global population is growing not only in terms of size but also in terms of the annual salaries that it draws. Hence the number of people that require financial planning assistance is on the rise. Financial Planners are hence essential for a huge number of working professionals. Along with individuals, even corporate outfits such as Banks, Financial Planning Outfits, Wealth Management Companies, Insurance Companies, Accounting Firms, etc. seek Financial Planners. Financial Planners are well-versed with several relevant issues related to retirement planning, estate planning, tax planning, investment planning, insurance planning, financial management (for various business sizes), trusts, stock broking, debt and risk analysis. This ensures that the Financial Planner can fit into a variety of roles.
1. Since the CFPCM certification is well-recognized in the corporate world,
it instantly increases your employability.
2. Knowledge of the core concepts of the curriculum improves the
experience of your clients and hence leads to a longer and
more satisfying relationship with them.
3. More networking and learning opportunities due to the CFPCM community.
4. Increased avenues of revenue making and a wider range of service offerings.
5. Recognition as a CFPCM professional in over 24 countries across the world.
it instantly increases your employability.
2. Knowledge of the core concepts of the curriculum improves the
experience of your clients and hence leads to a longer and
more satisfying relationship with them.
3. More networking and learning opportunities due to the CFPCM community.
4. Increased avenues of revenue making and a wider range of service offerings.
5. Recognition as a CFPCM professional in over 24 countries across the world.
The three primary revenue streams that are available to a Financial Planner are salary and/or fees, commissions and a combination of the two.
1. Salary / Fees: Usually paid by a company can be a flat rate or on an
hourly base. It may also be derived from the percentage of the
assets invested and /or income generated.
2. Commissions: Usually paid by a third party for the products recommended
by the Financial Planner and sold to the clients of the Financial Planner.
3. Combination: Fees are charged for the amount of Financial Planning
and commissions are received from any product sold based on
the recommendations of the Financial planner to the client.
1. Salary / Fees: Usually paid by a company can be a flat rate or on an
hourly base. It may also be derived from the percentage of the
assets invested and /or income generated.
2. Commissions: Usually paid by a third party for the products recommended
by the Financial Planner and sold to the clients of the Financial Planner.
3. Combination: Fees are charged for the amount of Financial Planning
and commissions are received from any product sold based on
the recommendations of the Financial planner to the client.
Of course, the CFP Certification is currently offered and recognized in over 25 countries including Australia, Austria, Belgium, Brazil, Canada, China, China Taipei, Columbia, France, Germany, Hong Kong, Indonesia, Ireland, Israel, Japan, Malaysia, New Zealand, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, United Kingdom and United States of America.
FPSB, Denver, US enters into licensing and affiliation agreements with non-profit organizations (or their equivalent) around the world that allows the organizations to establish and operate the CFP certification program in a country or region. FPSB Affiliates who meet and maintain FPSB’s affiliation criteria of high standards are authorized to administer the CFP certification program on behalf of FPSB in a country or region. FPSB India, one of the Affiliates of FPSB, Denver, USA administers and operates the CFP certification in India.
The CFP certification awarded in India is recognized globally and governed by cross border policy usage.
FPSB, Denver, US enters into licensing and affiliation agreements with non-profit organizations (or their equivalent) around the world that allows the organizations to establish and operate the CFP certification program in a country or region. FPSB Affiliates who meet and maintain FPSB’s affiliation criteria of high standards are authorized to administer the CFP certification program on behalf of FPSB in a country or region. FPSB India, one of the Affiliates of FPSB, Denver, USA administers and operates the CFP certification in India.
The CFP certification awarded in India is recognized globally and governed by cross border policy usage.
The 4Es define the essential qualification criteria for any candidate. They are: Education, Examination, Experience and Ethics. The CFP Certification is only awarded to competent and qualifying candidates that fulfil the 4E criteria.
Education: A candidate must complete the relevant academic coverage as defined by the Financial Planning curriculum by undergoing the 6 Module CFPCM Certification Education Program through an Authorized Education Provider and pass the corresponding Exam 1-4 facilitated by NSE. Exemption from the education program is possible for candidates (only those possessing higher work experience and/or educational background) that are applying through the Challenge Status Pathway. This criterion demonstrates the knowledge level of the candidate.
Examination: The Module VI – Exam 5 examination brings together the entire course curriculum and is designed to assess the candidate’s ability to apply concepts to real-life Financial Planning situations. By succeeding in this examination, the candidate can demonstrate to himself/herself and to potential clients that he/she has the required level of competency to practice Financial Planning.
Experience: This criterion ensure that candidates have relevant experience pre or post appearing for Exam 5. Although, candidates under the Challenge Status pathway need to attain relevant experience before appearing Exam 5. The Experience criterion is focused towards the counselling nature of personal Financial Planning and reassures potential clients about the work-experience of the Financial Planner.
Ethics: The CFPCM Certification is only awarded to candidates that meet the Education, Examination & Experience criteria and also agree to abide by FPSB India’s Code of Ethics, Rules of Professional Conduct, Practice Standards & Disciplinary Rules & Procedures. This criterion ensures public trust and confidence in the certification.
Education: A candidate must complete the relevant academic coverage as defined by the Financial Planning curriculum by undergoing the 6 Module CFPCM Certification Education Program through an Authorized Education Provider and pass the corresponding Exam 1-4 facilitated by NSE. Exemption from the education program is possible for candidates (only those possessing higher work experience and/or educational background) that are applying through the Challenge Status Pathway. This criterion demonstrates the knowledge level of the candidate.
Examination: The Module VI – Exam 5 examination brings together the entire course curriculum and is designed to assess the candidate’s ability to apply concepts to real-life Financial Planning situations. By succeeding in this examination, the candidate can demonstrate to himself/herself and to potential clients that he/she has the required level of competency to practice Financial Planning.
Experience: This criterion ensure that candidates have relevant experience pre or post appearing for Exam 5. Although, candidates under the Challenge Status pathway need to attain relevant experience before appearing Exam 5. The Experience criterion is focused towards the counselling nature of personal Financial Planning and reassures potential clients about the work-experience of the Financial Planner.
Ethics: The CFPCM Certification is only awarded to candidates that meet the Education, Examination & Experience criteria and also agree to abide by FPSB India’s Code of Ethics, Rules of Professional Conduct, Practice Standards & Disciplinary Rules & Procedures. This criterion ensures public trust and confidence in the certification.
There are 2 pathways through which an aspirant can register for the CFPCM Certification program namely:
Reviews:
"I must certainly admit that enrolling in IMS Proschool is the most effective way to prepare for CFP exams in the shortest possible time. The training not only help in clearing the exams but also making practical models and plans for clients."
Prof. Mahesh Renguntwar ( Management College, Pune)
- "I am an Independent Financial Advisor and Broker and so thought of taking up the CFP course. Proschool helped me in formulating and planning on how to crack the exam in first attempt. I would like to take this opportunity to thank the entire faculty of IMS Proschool for impressive Excel training and a wonderful learning experience."Trupti Prasad ( Independent Financial Adviser)
- "The Live Virtual Classroom were really helpful as the faculty had picked up the most relevant and the most interesting parts of the topics and then discussed it in depth. After attending these sessions a mere reading of the course material is more than enough to reinforce the concepts learned."
Deepti Patel(Director Invest Edge)