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Certified Financial Planning
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Introduction

Certified Financial Planning is personal financial planning certification program affiliated by Financial Planning & Standards Board, Denver, US. It is a global certification program which is recognised in 27 countries, including India, with around 190000 global CFP professionals. CFP certification is designed in such a way that meets all the requirements of handling personal finance of an individual and has a huge scope in Indian markets with lack of qualified advisors.

Features & Benefits
  • One of the most dynamic and respected profession in the field of personal finance all across the world.
  • CFP Certification is recognised in 27 countries all across the globe including India.
  • Any one completing HSC is eligible to pursue the certification irrespective of whichever stream (ex., Science, arts, commerce etc.)
  • The duration of the course is 12-14 months under the new structure as applicable from 1st June’20.
  • The course provides immense flexibility to working people as the lectures are conducted only on weekends (once in a week) for 3-4 hours.
  • The exams are conducted by the National Stock Exchange (NSE) on the day and timing chosen by the students at their own convenience as per availability of dates at NSE.
Study Curriculum

The study curriculum of CFP certification is one of the robust when it comes to covering all aspects of personal financial planning. As on 1st June’20, FPSB Ltd., has introduced the new structure of CFP certification which is as follows:

Level I: Investment Planning Specialist

The FPSB Investment Planning Specialist course has been developed to educate the students and professionals practising in the field of investments and tax on the in-depth product knowledge and its application in order make optimum utilisation of clients’ wealth to meet their financial goals by choosing right product mixture and investment strategies in the most effective way, keeping in mind their risk appetite.

It covers topics that include types of securities; investment theory and practice; portfolio construction and management; investment strategies and tactics; and securities laws and regulatory compliance.

Personal Financial Management Investment Planning & Asset Management Regulatory Environment. Law / Compliance
• Client Financial Situation • Asset classes & securities • Client Best Interest
• Time Value of Money • Pooled Investment Products • Economic Environment
• Cash Flow Demands & Conflicts • Principles of Investment Risk • Social and Political Environments
• Budget & Emergency Fund • Investment performance Management • Compliance and Implications
• Debt & Financing Alternatives • Investment Theory • Anti-Money Laundering
• Financial Management Services • Asset Allocation
• Wealth Management
• Behavioural Finance
• Objectives, Constraint & Suitability
Level II: Retirement and Tax Planning

Level II teaches you to consider your clients’ personal financial goals, risk tolerance and risk capacity, asset locations, the structure and impact of public and private retirement plans, and how taxation will affect your clients’ financial situation and goals. To be recognized by employers, clients and the public for your superior skills and knowledge in retirement and tax planning, complete the roadmap below to obtain FPSB® Retirement and Tax Planning Specialist certification in India.

It prepares you to develop strategies to help clients optimize their wealth accumulation and cash flow leading up to and during retirement, and to advise on the role of tax planning in supporting client goals.

Retirement Planning Tax Planning / Optimization
• Retirement Principles. • International Taxation.
• Retirement Objectives. • Cross-Border and Source Rules.
• Retirement Needs Analysis and Projections. • Tax Strategies.
• Sources of Retirement Cash Flow. • Accounting Standards and Research.
• Retirement Cash Flow, Withdrawal Projections and Strategies.
Level III: Risk and Estate Planning

Level III teaches you to evaluate your clients’ financial risk from the uncertainty of their respective life by developing strategies to avoid the adverse impact on your client’s financial goals from the uncertainty of their respective life. Analysing and covering your client’s personal risks will enable them to meet his / her family’s financial goals in an uninterrupted manner. It also prepares you to develop strategies to help clients preserve and distribute their accumulated assets amongst their legal heirs in the smooth and effective manner after his / her death.

This course will help you to gain the in-depth knowledge of the compliance of laws governing the insurance & estate planning in India, quantifying the risk, gaining product knowledge along with its effective usage in order to enable you to advise your clients in a manner to make optimum utilisation of your client’s wealth in covering his / her life risk.

Risk Management Estate Planning
• Principles. • Estate Planning Terminology.
• Risk Exposures. • Wealth Distribution Goals.
• Intro to Insurance. • Estate Planning Process.
• Insurance company / advisor selection • Transfer During Life and at Death.
• Strategic Solutions. • Planning for Incapacity.
• Estate Planning Strategies.
Level IV: Certified Financial Planning

Level IV prepares you to draw on the knowledge gained in the above three levels in the form of realistic case studies evaluating your application skills and making you to develop effective comprehensive financial plans for your clients to help them achieve their financial and life goals.

The course prepares you to integrate technical topics, behavioral finance principles and client engagement skills to build relationships of trust; identify client goals, needs and objectives; and develop effective financial plans.

The Financial Planning Process Engaging clients for life Developing Effective Financial Plans
• Financial Planning process • Introduction to the Discovery Process • Financial Planning Overview
• Practice Standards • Appreciative Enquiry • Financial Plan Elements
• Professional Skills • Discovery Process Applied • Developing Effective Plans
• Client Characteristics • Goal Determination, Refinement and Setting • Sample Financial Plans
• Client Engagement and Communication • Develop Financial planning and Recommendations • Financial Plan Assessment
• Critical Thinking • Presenting Recommendations to Clients
• Objectives, Constraint & Suitability
Important Points:
  • Dedicated 240 hours of comprehensive teaching and training programs.
  • The exam pattern for Level I to III is 75 MCQ based exam with duration of 2 hours and NO NEGATIVE marking.
  • Level IV is a 3 hour MCQ based exam but can only be appeared after successfully completing the first 3 levels.
  • The passing marks in 50% at each level for existing exams.
  • The candidate needs to go through a PRE-EXAM TEST before appearing for each of the levels. Likewise, there would be 4 pre-exam tests.
  • There will be an additional test on ETHICS which will be conducted before Level-4 examination.
Job Opportunities

Over the few years, CFP certification has established itself as one of the most preferred qualification with varied opportunities in the field of Banking, Financial services and Insurance industry not just in India but also in abroad (such as UK, US, Australia, Germany, Singapore, Canada etc.). The certification is recognised by some of the top corporates such as HDFC, ICICI, JP Morgan, Aditya Birla Capital and many more in India. Even a graduate fresher with CFP certification can get a job with attractive package in these profiles.

The job profiles are available in the following categories

  • Banking
  • All types of personal Insurance
  • Research Analysis
  • Personal Financial Planning
  • Direct Taxation
  • Asset Management Companies
  • Wealth Management
  • Investment Advisory Services
  • Mutual Funds Distributors
  • Stock Broking
  • Portfolio Management Services

  • As a practitioner, one can also become:

  • Registered Investment Advisor (Regulated by SEBI)
  • Independent Financial Advisor (IFA)

Job vacancies for CFP’s, all over India, can be found at https://networkfp.com/jobboard/ & https://india.fpsb.org/search-for-jobs/