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CFP (Certified Financial Planner)

  1. CFP(Certified Financial Planning)Certification is the leading certification globally in the field of Financial Planning. It is popular in more than 26 countries across the world. For those looking for a career in the financial services sector, CFP Certification provides a definite edge over other candidates and is widely respected by consumers, professionals and industry.

  2. The CFP certification is awarded by an Indian Financeal body i.e. FPSB(Financial Planning Standard Board) India which restricts the certification to be global in true sense and is directly administered by US. The candidates will have to undergo additional certification / examination, if an individual want to pursue their career in any other country.

  3. Who is a Financial Planner?

  4. A Financial Planner also referred to as a Personal or Certified Financial Planner is a qualified financial or investments advisor. They provide their clients with professional advice regarding investments, insurance, tax, wealth management, and retirement planning. A financial planner gives an advice to an individual's concerning the management of their finances, and work for a firm or independently.

  5. Earning potential and Job Roles for CFP:

  6. After the completion of the CFP course, CFP graduates can find lucrative and highly paid job opportunities. The average salary one can expect to earn as a Certified Financial Planner (CFP) in India is around INR 3.99 LPA which increases with experience and expertise.

  7. The career prospects and scope for CFP jobs are diverse given their availability in a variety of sectors. Both the private and the government sectors provide ample opportunities for CFP scope in India. A variety of sectors provide career opportunities to graduates of the CFP course such as finance consultation, investment, banking, risk management, relationship management, office administration, portfolio management, etc. Students are trained as professionals to handle the various challenges in each of these sectors related to the course. Mentioned below are some of the popular job roles available to candidates:

  8. Private Banker

  9. Investment Advisor

  10. Financial Manager

  11. Certified Financial Planner

  12. Data Analyst

  13. Bank Manager

  14. Asset Management Analyst

  15. Fund Accountant

  16. Research Analyst

  17. Benefits of CFP:

  18. Most Recognized qualification in the field of Financial Planning & Wealth Management. 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

  19. and knowledge Certified Financial Planner is the most desired and respected global certification for those seeking to demonstrate their commitment to competent and ethical financial planning practice. Candidates having CFP certification get enhanced career and employment opportunities with financial services companies. They can work in banks, distribution houses, insurance companies, equity brokerage, and financial planning firms,etc.

  20. Curriculum of CFP Course:

  21. LEVEL 1:- FPSB_INVESTMENT SPECIALIST

  22. Module 1 : Personal Financial Management

  23. Module 2 : Investment Planning & Asset Management

  24. Module 3 : Regulatory Environment & Legal Compliances

  25. LEVEL 2:-FPSB_RETIREMENT & TAX SPECIALIST

  26. Module 1: Retirement Planning

  27. Module 2: Tax Planning

  28. LEVEL 3:-FPSB_ RISK & LEGACY SPECIALIST

  29. Module 1: Risk Management & Insurance

  30. Module 2: Estate Planning

  31. Level 4:-CFP FINAL:

  32. FPSB_CERTIFIED FINANCIAL PLANNER

  33. Module 1: Financial Planning Process & Skills

  34. Module 2: Engaging Clients in Financial Planning

  35. Module 3: Integrated Financial Planning

  36. Case Study & Capstone Project

COMAPARISON CHART BETWEEN CHARTERED WEALTH MANAGER, CERTIFIED FINANCIAL PLANNNER AND CHARTERED FINANCIAL ANALYST

PARAMETERS CERTIFIED FINANCIAL PLANNER CHARTERED FINANCIAL ANALYST CHARTERED WEALTH MANAGER
Website www.india.fpsb.org www.cfainstitute.org www.aafmindia.co.in
Certificate Issuing Body Financial Planning Standard Board India CFA Institute, US American Academy of Financial Management, USA
Affiliation Body The CERTIFIED FINANCIAL PLANNERCM (CFP) is offered by FPSB Ltd which was founded in 2004. Financial Planning Standards Board Ltd. (FPSB) is a nonprofit association, having a global presence operating in 24 countries including India. The CHARTERED FINANCIAL ANALYST is offered by the CFA Institute is a global, not-for-profit organization comprising the one of the largest association of investment professionals. With over 100,000 members, and regional societies around the world. The CHARTERED WEALTH MANAGERTM (CWM) is offered by American Academy of Financial Management, US. The AAFM Board of Standards TM was founded in 1996, is a non profit organization, an independent Board of Standards and Accreditation Council for professionals with members in 150+ countries offering exclusive certifications to candidates who meet the highest standards and assessment.
Global Certification - Territorial Limitation The CFP certification is awarded by the Indian Chapter i.e. FPSB India which restricts the certification to be global in true sense and is recognized in India only. The candidates will have to undergo additional certification / examination, if he / she want to pursue their career in any other country. The CHARTERED FINANCIAL ANALYST is offered by the CFA Institute globally and the candidate do not have to undergo any additional examination. The CHARTERED WEALTH MANAGERTM certification is awarded directly by the parent body AAFM, US which makes the CWM certification truly global and is accepted globally without any territorial limitation. The candidates do not have to undergo any additional certification / examination if he / she want to pursue their career in any other jurisdiction.
Global Certification The CFP certification is offered in 24 countries including India. The CFA certification is offered internationally across the globe to the candidates passing the all the 3 levels of examination through appointed examination centres globally The CWM certification is offered internationally across the globe. Currently, CWM is offered in United States, India, Brazil, Latin America, South America, EU, Europe, United Kingdom, Middle East, South Arabia, South Africa, West Indies, etc.
Output from Certification CFP is a professional qualification for aspiring & experienced Financial Planners. CFP Certification covers all aspects of an individual’s personal finance needs like insurance, retirement, tax & estate, investment etc. The CFA program is a globally recognized, graduate level curriculum that provides a strong foundation of the real world investment analysis, portfolio management skills and practical knowledge needed to succeed in today’s investment industry. The CFA program majorily focuses on corporate finance and not personal finance. CHARTERED WEALTH MANAGERTM (CWMTM) is unique and the Premier Certification in Wealth Management certification in India. CWM certification is professional qualification for aspiring candidates who want to establish their career in Wealth Management and the professional who want to upgrade and enhance their skill set as per the mandatory requirement posted by the regulator and the industry
Courseware for the Certification The Courseware for CFP certification is not provided by the FPSB India. The Education Providers themselves have to develop the content for the certification which creates discord amongst industry from the perspective of standarization and standard setting. Further, the students are not clear about the nature of questions asked in the exam. The courseware covers Indian content only. The Courseware for the CFA certification is provided by the CFA Institute. The courseware covers all the aspects of the finance in general but not country specific. The Courseware for the CWM certification is provided by AAFM India approved from AAFM, US. The benefit of courseware provided by the Board will helps in the standardization amongst the industry and maintaing the education standards and quality. The courseware covers Global plus Indian content.
Curriculum The curriculum of CFP Certification has been adopted from its parent body FPSB Ltd. which has been localized. The curriculum is designed to focus on Financial Planning Services Industry which covers Introduction to Financial Planning, Insurance Planning, Retirement Planning, Indian Taxation, Investment Planning and Estate Planning. A committee of practicing CFA charterholders, in conjunction with CFA Institute staff, design the curriculum to deliver the Candidate Body of Knowledge (CBOK) to CFA Program candidates. The curricullum designed is very comprehensive but do not cover the specific financial product knowledge based on different economies. It covers Ethical and Professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Portfolio Management, Equity, Fixed Income, Derivatives, Alternative Investments. The curriculum of CWM certification have been designed and developed in consultation with the global academicians and industry experts with a focus on Financial Advisory Services Industry. In the contemporary dynamic environment of financial sector a Financial Advisor has to be mandatorily equipped with the Comprehensive knowledge and skill set to deliver at the job. The curriculum of CWM is relevant, practical, and exhaustible in nature which goes beyond CFP certification and also covers Global Financial System, Equity Analysis, PMS, Real Estate Valuation, Loan & Debt Management, Intergenerational Wealth Transfer, Internalnational Taxation, Relationship Management, Behavioral Finance, etc. The curriculum covers Global as well as Indian Markets.
Industry Integrated The CFP certification focuses on Financial Planning Industry which is not the prevalent business model in the current financial advisory services and it may take some more years to establish such fee based advisory model in India. The CHARTERED FINANCIAL ANALYST program is an industry integrated program relevant for the aspiring candidates who wants to pursue their career in research and analysis. The CWM certification is an Industry Integrated program syncing with the existent industry business model of Financial Advisory Services including Retail as well HNI client wealth management services. The certification is flexible in nature which can get adopted and accepted with the changing financial advisory systems.
Course Completion Time Candidates can take the exams a minimum of one month after registration; on an average the entire program takes about one year Candidates take an average of 4 years to complete the entire program Candidates take an average of 6 months to complete the entire program
Career Avenues Banking, Mutual Fund Houses, Financial Planning Outfits, Insurance Companies, Corporate Training, Educational Institutions, Independent Financial Advisory Analyst, Research, KPO, Banking, Brokerage Firms, Mutual Fund Houses, Private Banking, Wealth Management firms, Insurance Companies, Corporate Training, Educational Institutions, Independent Financial Advisory Analyst, Research, KPO, Banking, Brokerage Firms, Mutual Fund Houses, Private Banking, Wealth Management firms, Financial Planning Outfits, Insurance Companies, Corporate Training, Educational Institutions, Independent Financial Advisory
Examination In CFP certification there are five examinations. The examinations are conducted only on daily basis across India which loses the control of the Education Provider in the batch formation and conducting of classes. The Exam 1-4 are of 2 Hours each and Exam 5 is of 4 Hours and all the questions are MCQ in nature. The total examination cost for the student is Rs. 13,000/- for all the examinations. Exams offered at specific times: Level 1 in June / December, Levels II, III in June only. The one time registation and examination cost for the Course is approximately $2500. For every re-examination the exam fee has to be paid. In CWM certification there are 2 levels of examinations i.e. Level 1 and Level 2. The examinations are offline and are conducted on Bi-monthly basis across India. The duration of Level 1 examination is of 2 Hour and Level 2 is 3 Hours and all the questions are MCQ in nature. The total examination cost for the student is Rs. 4,000/- for both the levels.
Pathway to Register Regular Pathway The eligibility criterion to register and hold the CFP certification through Regular Pathway is that the candidate must have passed minimum 10th Standard. The Registration Fee for the certification is Rs. 10,000/- having validity of 1 year. Challenge Status Pathway The eligibility criterion to register for the CWM certification through Experience Pathway is that the candidate must hold a professional qualification with 3 years of minimum work experience. The Registration Fee for the certification is Rs. 15,000/- having validity of 1 year. 1. Have a bachelor's (or equivalent) degree; or be in the final year of your bachelor's degree program at the time of registration; or 2. have four years of qualified, professional work experience; or 3. have a combination of work and college experience that totals at least four years Effective 1 January 2011: Have a valid international travel passport (required for enrollment and exam registration) Compulsory Pathway The eligibility criterion to register for the CWM certification through Compulsory Pathway is that the candidate must have passed minimum 12th Standard but minimum a graduate to hold the certification. The Registration Fee for the certification is Rs. 10,000/- having validity of 1 year. Experience Pathway The eligibility criterion to register for the CWM certification through Experience Pathway is that the candidate must have passed Graduation with 3 years of minimum work experience. The Registration Fee for the certification is Rs. 5,000/- having validity of 1 year.

CFP Program Board Fees

These are the CFP fees which are paid to Financial Planning Standards Board (FPSB), USA directly. These CFP fees are for various things such as registration, online content, examination, certification etc. Since the CFP fees are payable to USA based FPSB board hence fees are paid in US Dollars ($) at the moment and are broadly for 5 things  :

Registration Fee (Total $195)

When someone wants to do Certified Financial Planner (CFP), one has to register with FPSB USA initially. The CFP program registration fee is $195 and is a one time fee applicable to all the levels (1 to 4). So you wont need to pay the CFP registration fee separately but this is valid for a year only. 

Content Subscription Fee (Total $175)

FPSB has some online content for each level of the Certified Financial Planner (CFP) course which is mandatory for everyone to subscribe too. Though it’s an e-book which you can’t save, download, print or book mark but still you have to pay the content subscription fee to FPSB. This is paid for each level one by one separately as you move level by level in the program. For level 1 to 3 the content subscription fee is $70 for each level whereas for final level it is $140.

Examination Fee (Total $360)

FPSB conducts online proctored examination for each level. You have to register for exam one by one as you move along the CFP program. For level 1 to 3 the CFP Examination fee is $72 for each level whereas for final level it is $144.

Project Assessment Fee (Total $77)

In Level 4 of CFP Program, you have to complete a project which is assigned to you by FPSB. The CFP project is a one time activity during your program. You complete the project and the same has to be submitted to FPSB for assessment. When you signup for the CFP project, you have to pay a Project Assessment Fee of $77 to FPSB.

Certification Fee (Total $105+$120)

Certified Financial Planner (CFP) being a unique 4-in-1 program, you get 4 Global certifications from FPSB USA. Upon passing Level 1,2 & 3 you get Specialist Certification for which when you apply for certification you need to pay a Certification Fee of $105 (combined for all three specialist certifications). When you complete all 4 levels and claim your CFP Certificate / Charter Membership, then you need to pay a CFP Certification Fee of $120.

All the above FPSB Board Fees are payable in parts & on breaks as your move along the program. You don’t need to pay the full fee one time , rather you pay the fee level by level separately. Since all the fees are paid in USD ($), hence you must get international payments enabled on your Card in advance to be able to make the fee payments.

CERTIFIED FINANCIAL PLANNERCM

CFP certification is a mark of excellence granted to individuals who meet the stringent standards of education, examination, experience and ethics. It is the most prestigious and internationally accepted Financial Planning qualification recognized and respected by the global financial community.

The CFPCM certification wins trust and presents opportunities worldwide. In this era of super specialization, the Professional Certification CERTIFIED FINANCIAL PLANNERCM certification gears career aspirants and existing financial intermediaries for giving comprehensive financial advisory services to individuals and make a satisfying career in the financial services industry.

CFPCM certification is the highest level of certification worldwide in the field of Financial Planning with over 1,71,000 CFPCM certificants and widely respected by consumers, professionals & industry. Our Certified financial planner course prepares you for this certificate program.

The CFPCM certification training is built in a way such as to impart knowledge of how to frame financial policies with regard to cash control, lending, and borrowing. It lets students understand the best possible utilization of scarce financial resources at least cost, in order to get maximum returns on investment.

  • Certified Financial Planner (CFP) is world’s topmost program in Personal Finance & Financial Planning. Its like the CA in the world of Personal Finance & Investment Management.

  • Certified Financial Planner (CFPCM) certification is an International Mark of Excellence granted to professionals specialized in Personal Finance.

  • Offered by Financial Planning Standards Board, USA , CFP certification is the only globally recognized symbol of excellence  & Gold Standard Certification for financial planning. 

  • Certified Financial Planner (CFP) is a Global Certification Valid in 27 Countries across the world.

  • CFP is a unique 4-in-1 Program which means that within 1 Program, you get 4 Global Specialist Certifications in the areas of Personal Finance.

CFP Program Fees

When you pursue CFP Program, there are 2 types of CFP Fees involved. They are :

1.    CFP Course Study Fees

2.    CFP Program Board Fees

CFP Course Study Fees

This is the CFP fee that you pay to CFP education provider (ICOFP) for teaching you the CFP Course content, providing your CFP course materials, giving your CFP Classes, preparing you for CFP exams & all the CFP Study support that you require. This is paid to International College of Financial Planning (ICOFP) and is paid in Indian Rupees (INR). You have the option to join the CFP Course Level wise and hence pay the CFP Study Fees level wise or alternatively you can join the complete CFP Course Study in one go and by do so you save more than 30% on your CFP Study Fees.

CFP Course Fee varies depending on whether you are opting for CFP Classes in Classroom mode, Online Live Classes or Pre-recorded E-Learning mode. CFP Course Fee for Class Room mode is INR 52,500/- only where as for Online Live Classes it is INR 42,500/- and for E-learning it is INR 32,500/- only.

Here is a CFP Course Level wise fees break-up as well.