Certified Financial PlannerCM Certification is an internationally accepted Financial Planning qualification. The qualification is recognized in more than 20 countries across the world. In India, the Certification is granted by Financial Planning Standards Board (FPSB India).

The qualification gears candidates to provide comprehensive financial advisory services to individuals. It covers insurance, retirement planning, investment, taxation and estate planning. For those looking for a career in the financial services sector, CFPCM Certification provides a definite edge over other candidates. One’s expertise and credibility as a qualified professional is instantly communicated if he/she has a CFPCM Certification. The services of CFPCM Certificants are sought by Banks, Asset Management Companies, Insurance Companies, Equity Broking Houses and Financial Planning firms.

There are currently over 1,00,000 CFPCM Certificants worldwide and around 450 + CFPs in India. As per industry estimates, the requirement for financial advisors will be approximately 50000 in the coming years.

Requirements for CFPCM Certification

There are two ways to obtain CFPCM Certification:

  1. Regular Way
  2. Challenge Status for professionals

Both require candidates to fulfill certain criteria for acquiring CFPCM Certification.

Requirements for Regular way

Education: Candidate must be atleast a 12th Std Pass/Equivalent. The candidate should undergo the training program with FPSB India’s approved Education Providers. Education criterion demonstrates to the public that the candidate has acquired the necessary knowledge to become a Financial Planner. Know more

Examination: The candidate has to pass the CFPCM certification exam i.e. he has to clear all the five papers viz. Risk Management & Insurance Planning, Retirement Planning & Employee Benefits, Investment Planning , Tax Planning & Estate Planning and Advanced Financial Planning. By passing the CFPCM Certification Examination, the candidate demonstrates to the public that he/she has the required level of competency to practice Financial Planning. Know more

Experience: The experience criterion builds confidence in public that the candidate understands the counseling nature of personal financial planning. The candidate has to complete 3 years of work experience either pre or post Certification exam in case he/she is a graduate. In case of non graduates the criteria is six years of work experience. Know more

Ethics: On completion of the education, examination and experience requirements, the candidate has to sign declaration for adherence to FPSB India’s Code of Ethics & Rules of Professional Conduct. Click here to know more.

Requirements for Challenge Status

Students who are already professionals for example Chartered Accountants, MBAs, ICWA, etc and are interested in acquiring the CFPCM certification can do so in a shorter span. FPSB India recognizes that these professionals already have some of the skill sets that are required in a Financial Planner. Hence, it has introduced the “Challenge Status Program” which enables professionals (both in terms of education as well as experience) to acquire the CFPCM Certification in a more time efficient manner.

Education: A candidate must be a CA, 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. Click here to know the list of qualifications specified by FPSB India.

Examination: The candidate has to clear only Paper 5 i.e. the Advanced Financial Planning paper. Click here to know more about the Advanced Financial Paper.

Experience: The candidate should have work experience of 3 years in Financial Services Industry prior to the CFPCM Certification Exam. In case the candidate is working in a Non- Financial Industry the work experience should be 5 years prior CFPCM certification exam. Click here for details.

Ethics: On completion of the education, examination and experience requirements, the candidate has to sign declaration for adherence to FPSB India’s Code of Ethics & Rules of Professional Conduct Click here for details

Click here for more details on CFPCM

Disclaimer:
CFPCM, CERTIFIED FINANCIAL PLANNERCM and are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. Financial Planning Standards Board India is the marks licensing authority for the CFPCM marks in India, through agreement with FPSB.