About CFP Certification Course

The CFP Certification is a globally-recognized certification in the field Financial Planning. With a deficit of 50000 financial planners in India and wealth Management industry growing at a rate of 20% Y-O-Y, CFP ^cm certification equips you to make a career into financial planning and wealth management.

In this page you can explore about what is CFP, its syllabus, Exam registration, Fee Structure, Career options after CFP and how to pursue CFP and other details.

What is CFP Certification Course?

CFP Certification is the leading Certification globally in the field of Financial Planning with over 1,70,000 Certificants. It is popular in more than 26 countries across the world. In India, the Certification is granted by Financial Planning Standards Board – India (FPSB). For those looking for a career in the financial services sector, CFPCM Certification provides a definite edge over other candidates and widely respected by consumers, professionals & industry.

Benefits of doing CFP

Most Recognized qualification in the field of Financial Planning & Wealth Management
Increased your chances of getting employed at Wealth Management, Financial Planning Firm, Banks , Mutual Fund
Improves career progression as most banks become universal banks and expect you to have knowledge of mutual funds, insurance, taxation besides core banking products
Boost your own advisory services since CFP communicates credibility and knowledge

Career Options

As more and more people are shifting from traditional asset classes like real estate & Gold to asset classes like equities and fixed income. Financial planning as a need is increasing among the middle income group, which provides a huge demand for financial planners.

Industry Trends

These are some of the new trends happening in the area of wealth management

By 2021 total investable surplus will be close US $70 trillion by 2021
India falls under the top 20 companies participating in this growth
Digitization and transparency will be a factor affecting wealth mangers
Out of all the types of business like family offices, traditional wealth managers and independent wealth advisors there will be a new class known as the holistic wealth managers
There will be more companies from abroad offering wealth management service in India, as market in the developed markets become more saturated

Course Structure

Modules of CFPCM

Introduction To Financial Planning
Risk Analysis & Insurance Planning
Retirement Planning & Employee Benefits
Investment Planning
Tax Planning & Estate Planning
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.

Syllabus

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.

CFP Certifiation

You can earn and use the CFP designation if you complet all the requirement under 4 Es i.e eligibility, examination, experience and ethics. Everybody must sign a declaration of code of conduct with FPSB to complete “Ethics” requirement. Either pre or post CFP exam, graduates must have 3 years of relevant experience and non graduates must have 5 years of relevant experience, to compete “Experience” requirement. To complete remaining 2 Es i.e eligibility and examination, there are two paths:

Regular Path:

Eligibility: 12th pass
Examination: applicants must clear 5 paper covering all the 6 modules

Challenge Status:

Eligibility: candidate with advance qualification such as CA / Intermediate level, CFA (US), ICWA, CAIIB, CS, LLB, PhD, M.Phil, PG, Licentiate/Associate/ Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service Examinations by UPSC are eligible for challenge status.
Examination: Need to clear only one paper of advance financial planning.

Exam Details

Fee Details: Regular Path

Student Registration Fees with FPSB India: Rs 16,385 (valid for 1 year)
Exam 1-4 Fees: Rs 4,130 per exam per attempt
Exam 5 Fees: Rs 8,260 per attempt
CFPCM Certification Fees: 7,080 and to be renewed annually

Fee Details: Challenge Status Path

1	FPSB India	Rs. 29,955	Registration Fees valid for 1 year, inclusive of initial CFP Certification fees, Administration & Processing Fees
4	Charter Member	Rs. 15,795	Registration Fees valid for 1 year, inclusive of initial CFP Certification fees, Administration & Processing Fees

Examination Pattern

All the exam papers from 1 to 4 have multiple choice pattern. Following is the marks distribution in each of the exam:

Type of Questions	Number of Questions	Total Marks
1 Mark	38	38 Marks
2 Mark	15	30 Marks
3 Mark	14	42 Marks
4 Mark	10	40 Marks
Total	77	150 Marks

Other Details: No Negative Marking, No Separate Exam for module 1

Exam Duration: 2 hrs

Important Update

CFP qualification is promoted by FPSB Global which has a contract with FPSBP India. As per the information received from FPSB Global

FPSB India contract with FPSB Global will not be renewed
FPSB Global will handle the CFP qualification directly
Students pursuing CFP need not worry as FPSBP Global will continue the CFP certification
A new partner may be found to handle the india operations

FAQs

Is the CFPCM Certification only for Financial Planners?

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.

What are the career possibilities for a Financial Planner?

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.

How does the CFPCM Certification Program and the CFPCM marks help me?

Since the CFPCM certification is well-recognized in the corporate world, it instantly increases your employability.
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.
More networking and learning opportunities due to the CFPCM
Increased avenues of revenue making and a wider range of service offerings.
Recognition as a CFPCM professional in over 26 countries across the world.

What are the various revenue streams available to a Financial Planner?

The three primary revenue streams that are available to a Financial Planner are salary and/or fees, commissions and a combination of the two.

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.
Commissions: Usually paid by a third party for the products recommended by the Financial Planner and sold to the clients of the Financial Planner.
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.

Is the CFPCM Certification globally well-recognized?

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.