An In-depth Overview of The CFP Syllabus in 2024

Here is a quick checklist to see if you have the aptitude for financial planning.

Do you have great people skills?

Are you blessed with a natural affinity with numbers and financial data?

Are you a strong believer in ethics and professional integrity?

Do you possess the ability to dig deeper into research?

Lastly, are you willing to acquire technical knowledge and skills?

If you have answered mostly yes, then you are all set to embark on the road towards your future career as a CFP professional. Since 1972, the Certified Financial Planner qualification has enjoyed considerable popularity among financial aspirants hoping to become financial planners. Set up by the Financial Planning Standards Board (FPSB), this course is available in over 27 countries. The program is designed to offer an exhaustive and detailed study of the various aspects and skills required in this profession.

Before you are lucky enough to call yourself a CFP professional, you must commit to a series of conditions by the FPSB board. All students must clear the rigorous exams, complete the work experience and meet the ethical requirements. Once you have fulfilled all the obligations, you will be certified to work in personal finance management. Clients and investors looking to build and enhance their investment portfolios will ask you for your expertise and advice. It is a rewarding and fulfilling career that has great growth potential. But let’s not get ahead of ourselves.

First, we have to deal with earning the certification. The CFP syllabus is intense. It helps you build your knowledge and technical understanding of wealth management and financial planning. Before you start learning, you must first comprehend the curriculum. Here below is an in-depth look into the revised CFP syllabus.

About the CFP syllabus

Certified financial planners are highly proficient in key finance fields, such as investment planning, tax management and retirement preparation. They have an edge over their peers due to their comprehensive training and skill development.

The CFP syllabus is structured as follows. 

FPSB® Investment Planning Specialist Exam

This CFP subject helps students understand how to develop strategies to maximise investment opportunities. The concepts include investment theory, portfolio management, regulatory compliance and types of securities.

Syllabus Of Investment Planning Specialist Exam

The investment planning specialist exam has three main modules. The syllabus for this course is as follows:

1. Personal Financial Management

• • Offers a broad outline of how to work with clients and obtain necessary financial data.
  • Teaches students to analyse investment options and develop strategies that suit clients’ needs.
  • Learn to execute strategic financial plans efficiently.

2. Investment Planning and Asset Management

• • Gives an overview of international and national economic practices and establishments such as the stock exchange and asset classes.
  • Learn how to use tools such as investment risk and valuation ratios to calculate stock returns and potential portfolio earnings.
  • Master key investment concepts such as behavioural finance, selling or buying securities, etc.

3. Regulatory Environment, Law and Compliance

• • Provides a general review of important regulatory practices.
  • Understand how political and social factors can affect economic environments.
  • Learn key legal concepts such as behavioural finance and anti-money laundering.

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FPSB® Retirement and Tax Planning

The CFP Subject for the retirement and tax planning certification is designed to help you understand how to approach your client’s financial requirements for the future. The topics covered include private and public retirement plans, asset locations and risk tolerance.

Syllabus Of Retirement and Tax Planning Exam

The retirement and tax planning course has two main modules. The syllabus of this CFP Exam is as follows:

1. Retirement Planning

• • Learn how to recognise the individual’s retirement needs.
  • Study relevant retirement principles.
  • Strategise plans for creating wealth and budgets for post-retirement.
  • Understand risk capacity and economic factors that affect the financial plan.

2. Tax Planning

• • Gain proficiency in tax-based planning and strategising to help clients.
  • Study concepts and guidelines on a local as well as global level.

Also Read – What Jobs Can You Get In The UK as a Certified Financial Planner

FPSB® Risk and Estate Planning

In this CFP Subject, you are taught to create strategic plans that safeguard a client’s investments and finances from various risk factors. The syllabus of this exam also includes an analysis of a client’s finances to ensure all legal, taxation and insurance-related elements are taken care of.

Syllabus Of Risk and Estate Planning Exam

The risk and estate planning course has two main modules. The CFP syllabus is as follows:

1. Risk Management and insurance planning

• • Students get a detailed understanding of risk management strategies and how to apply them to protect a client’s finances.
  • Assess existing insurance policies and make modifications to suit the client.

2. Estate Planning

• • Learn the legal requirements for creating the client’s will.
  • Understand the emotional intelligence needed to tackle this sensitive matter.

Also Read – Planning to become a financial planner – here’s what you can do after 12th commerce

FPSB® Integrated Financial Planning

Once you have cleared the above three exams, you are ready for the final step in your CFP journey. The Integrated Financial Planning course helps students create viable strategic plans to help clients meet their financial goals. This exam will require you to examine a case study and use the knowledge obtained from the CFP syllabus to devise an effective financial plan.

Syllabus Of Integrated Financial Planning Exam

The retirement and tax planning course has three main modules. The syllabus of this CFP Exam is as follows:

1. Perfecting the financial planning process

• • Students must be well informed about the practices, processes and principles surrounding the financial planning process.
  • Enhance your critical thinking skills during financial planning.
  • Understand how to engage with clients and improve communication.
  • Learn about the regulatory environment of financial planning in India.

2. Engaging clients

• • Understand and apply the Discovery Process
  • Identify and manage the client’s financial goals.
  • Create and present recommendations for the clients

3. Developing financial planning strategies

• • Learn about the elements of financial planning
  • Develop financial plans according to the client’s financial background and goals.

Also Read – 10 tips to clear your CFP exam in the first attempt

Here’s Why You Should Trust Proschool To Ace In Your CFP Exams

The CFP exams require a thorough amount of prep work. You must master complex concepts, industry standards, finance techniques and important skills. It’s not an easy task to do on your own. If you enrol with Proschool, you learn with one of India’s top CFP coaching institutes and a Financial Planning Standard Board-approved education provider.

The professors are finance experts and industry professionals who use innovative learning methods to teach the challenging CFP course subjects. Several prep resources are available, such as extra reading material, learning videos, over 2,000 practice papers and mock tests. Due to the high quality of education and training, Proschool has a 70 percent success rate among students.

Highlights of learning with Proschool

• You can attend any Proschool coaching centres in major Indian cities or sign up for online classes instead.
• The teachers provide personalised attention and doubt-clearing sessions for all students.
• Students learn the latest updated CFP syllabus.
• Certified students can access hundreds of job openings on Proschool’s online placement portal.
• You also receive recruitment training to enhance your interview techniques and resume writing skills.

FAQs

Q1. Can I complete the CFP course in 1 year?

Yes, it is possible. It takes anywhere from 6 months to 2 years to learn the CFP syllabus. However, most experts recommend taking two years to study and clear the course.

Q2. How many papers are there in the CFP course?

You take three exams at first — Investment Planning Specialist, Retirement and Tax Planning and Risk and Estate Planning. Once you have cleared the papers, you can sit for the final exam — Integrated Financial Planning.

Q3. Is the CFP program difficult?

It is not an easy course to clear. The CFP syllabus is quite intensive and requires rigorous training. If you learn with a reputed coaching institute, you will find the CFP course subjects easier to understand.

Q4. Can I learn the CFP course subjects without coaching?

Yes, there is an option to self-study for the CFP exams. However, if you apply for a coaching class such as Proschool, you get the benefit of learning from industry professionals who will clear your doubts and help you master key concepts and skills.

Q5. What jobs can I get after doing the CFP course?

While most people become financial planners after completing the program, the CFP syllabus lends itself to several financial fields. You can work in retail banks, mutual fund houses, insurance agencies, risk management, NFBCs and portfolio management.

Q6. Does the CFP syllabus have maths?

There are a few calculations required during the exams. You can use a financial calculator as well.

Q7. Is CFP harder than CA?

The difficulty level of both courses will depend on your background and aptitude. However, the CA exams might be tougher to clear due to how they are structured. Comparatively, if you pass one CFP exam, you move on to the next one.

Conclusion

The CFP syllabus has been carefully designed to meet the needs of the ever-evolving investment industry. The CFP certification is highly renowned among leading financial companies. Professionals who clear the exams can work in portfolio management, insurance, banking and other prominent finance jobs. So don’t wait any longer. Sign up for the course today, and you are well on your way to a brighter future.