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
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 massive demand for financial planners. Pursuing a career in CFP in India increases your chance of getting employed.
These are some of the new trends happening in the area of wealth management
- Global volume of net investable assets of HNI’s will be close to US $70 trillion by 2021
- India falls under the top 20 companies participating in this growth
- Digitization and transparency will be factors affecting wealth managers
- Out of all the types of businesses 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 the market in the developed markets become more saturated
The new course structure will consist of three specialist certifications (Tracks) which can be completed in any order. After clearing all three Tracks successfully, candidates must complete one capstone course for CFP certification in India.
|Investment Planning Specialist Certification|
- Personal Financial Management
- Investment Planning and Asset Management
- Regulatory Environment, Law and Compliance
|Retirement and Tax Planning Specialist Certification|
- Retirement Planning
- Tax Planning and Optimization
|Risk Management and Estate Planning Specialist Certification|
- Risk Management and Insurance Planning
- Estate Planning
|Certified Financial Planner Certification|
- Financial Planning Principles, Process and Skills
- Integrated Financial Planning
|Investment Planning Specialist Certification|
Retirement and Tax Planning Specialist Certification
Risk Management and Estate Planning Specialist Certification
|2 hours, 75 multiple choice questions, computer-based test for each track exam|
|Certified Financial Planner Certification||4 hours, computer-based test with case studies|
|Textbook for Specialist Track course (per track)||$60||4500|
|Exam Fees for Track/Module Exams (Per exam)||$61||4575|
|Textbook for CFP Certification Track||$120||9000|
|CFP Certification Exam Fee||$122||9150|
|Student Renewal Fee (Annual)||$110||8202|
|CFP Certification Renewal Fees||$120||9000|
*Fees mentioned in INR approximate number calculated based on 1 USD=75INR
There are three potential routes to fulfil the CFA certification in India. Understand the requirements to become eligible for the exam.
1) Instructor-Led Education Route
In order to successfully complete this route, enroll with an FPSB Ltd. Authorized Education Provider.
2) Individual-Led Education Route
FPSB Ltd. provides educational materials in an online platform, including textbook content, PowerPoint outlines, quizzes, and practice tests that align to the learning objectives and prepare a learner to sit for the exam. Learners must pass the FPSB Ltd. quizzes for each chapter, as well as the post-module tests for both modules to be eligible to successfully complete the education component.
3) Education Exemption Route
Individuals may apply to FPSB Ltd. for exemption from the instructor-led or individual-led education routes. This status is granted upon proof that the individual holds any of the following linked qualifications or certifications. If this waiver is accepted, individuals may bypass the education and prove eligibility to sit for the exam by successfully passing the prequalification exam in the FPSB Ltd. online platform.
|Tracks||Instructor-Led Education Route||Individual-Led Education Route||Education Exemption Route|
|Investment Planning Specialist Certification||✔||✔||✔|
|Retirement and Tax Planning Specialist Certification||✔||✔||✔|
|Risk Management and Estate Planning Specialist Certification||✔||✔||✔|
|Certified Financial Planner Certification||✔||✗||✗|
- CFP certification qualification in India is now directly handled by Financial Planning Standard Board Ltd. US.
- Legacy program (old) enrollment ends on 31 May 2020, and students enrolling on or after 1 June 2020 will have to enrol in the new program.
- Important dates on which respective Tracks will be activated. Students can enrol for those tracks:
- FPSB® Investment Planning Specialist Certification(starting 1 June 2020)
- FPSB® Retirement and Tax Planning Specialist Certification (starting August 2020)
- FPSB® Risk Management and Estate Planning Specialist Certification(starting September 2020)
- CERTIFIED FINANCIAL PLANNER Certification (starting October 2020)
- Before apply for any certificate, i.e. for track exam certificate or final CFP candidate needs to pass FPSB Ltd.’s online Ethics Course
Want to know more about CFP in India by IMS proschool? Click here