Certified Financial Planner (CFP): Course, Fees, Syllabus, Eligibility

Certified Financial Planner

About Course

CFP, or Certified Financial Planner, is a certification issued by the Financial Planning Standards Board (FPSB) for those who wish to pursue financial planning as a profession. The CFP is internationally recognized and considered the best for training in financial planning, education and ethics in practice. The FPSB defines financial planning as “the process of developing strategies to help people manage their financial affairs in order to achieve their life goals.” This includes analyzing Client's financial situation, developing a financial plan for the client, and its implementation for the benefit of the customer.

A Certified Financial Planner can find multiple career opportunities in financial consulting and the financial industry.A financial planner may offer services as a consultant or represent their organization in providing financial planning services to individuals and organizations. To earn CFP certification, professionals must meet certain eligibility criteria and complete the 6-module CFP certification training program. The CFP program helps develop individuals skilled in investment planning, financial advisory, banking and more. Majors taught at theCFP include financial planning, risk analysis, insurance planning, tax and estate planning.

Course Highlights

Particulars	Values
Course Name	Certified Financial Planner
Course Level	Certificate
Course Duration	6 months – 2 years
Examination Type	Semester System
Eligibility Criteria	50% in Under Graduation
Admission Process	Merit/Entrance Based
Internship	Yes
Entrance Exams	CA, ICSI, CAIIB, etc.
Course Fee	INR 50,000-1 LPA
Average Annual Salary	INR 4 LPA
Top Recruiters	ICICI, Public service commission, Railways, etc
Job Profiles	Financial Advisor, Financial Planner, Investment planner, etc

Why Study Certified Financial Planner?

CFP or Certified Financial Planner is a certification issued by the Financial Planning Standards Board (FPSB) for people who want to start a financial business. You will learn how to build trust and help clients in the increasingly complex world of consulting.

The Financial Planning Certification will help you in the following ways.

Gives you the tools to create a robust and repeatable financial planning framework
Enables each client to be systematically provided with pure financial plan proposals. This allows you to easily prove decisions, reducing the risk of non-compliance.
Will help build customers' confidence and help them achieve their life goals.
Better customer relationships that ultimately lead to customer referrals.
Offers advanced career opportunities in the financial services field while providing greater job satisfaction
This is a high-income education with dynamic employment opportunities (individual or corporate) and a solid reputation in business.

Eligibility Criteria

To be admitted to the CFP course, candidates must meet the course's admission requirements. This is discussed in detail below.

The Regular Pathway registration process is listed below for your reference:

Get an NCFM number at the NSE Academy official website.
Next you need to fill in the registration form to become a member of FPSB Ltd.
Tuition fees must be paid.
FPSB Ltd. after verificationactivate the student on the NSE testing portal after verification.

The registration process for theChallenge Candidate Pathway is as follows:

Upon successful registration, applicants will receive an NCFM number on the official NSE Academy website.
Complete the Challenge Candidate Registration Form and email the relevant self-certified scanned documents to [email protected] with your NCFM number to register as a Challenge Candidate with FPSB Ltd. to register.
After the verification process, the required registration fee must be paid.
After payment, FPSB Ltd. activates the candidate on the NSE exam portal.

Admission Process

To apply for admission to the CFP, students must meet course admission requirements. The admission process for a CFP course in India can be done in two ways. The selection for the course is based on performance or a placement test. During the preliminary examination, the overall grade of the student in the university course is taken into account. Applications for the recruitment process can be submitted via the university portal or directly to the university admissions office by calling. Details of the general intake process for CFP are given below:

How to Apply:Details and duration of the CFP course can be found on the university websites, where students can start the application process. The admission registration process can be done online and offline. For the online procedure, students must visit the university's website, register, enter their access data in the application and pay for enrollment online. As for the offline process, students need to go to the College Admissions Office, collect the application form, fill in the details and pay the application fee. Both procedures require applicants to submit valid documents for the verification process.

Selection Process: When selecting for the duration of the Certified Financial Planner degree, the admissions process is usually based on merit, i.e., the applicant's academic achievements. For some colleges, qualification for a CFP course in India is passing an entrance test from the relevant institution. The admission ticket and other relevant details will be published in advance on the university's website. Students can view the results of the selection after registering in the university portal or receive them personally by email.

Skills Required for Certified Financial Planner

Students should carefully study all major concepts to gain a thorough understanding of the course. However, in a dynamic field like financial planning, academic reading is not enough. Students must have certain soft skills in order to be successful in professional life. Here are some of the skills that pave the way for a successful post-CFP career:

Communication skills	Relationship management
Interpersonal skills Analytical approach	Stress management Attention to detail
Problem solving attitude	Energetic
Persistence	Organization skills
Passion	Attention

Entrance Exams for Certified Financial Planner

The recruitment process for the duration of the CFP course is usually based on the results of the candidate's final exams. For some Indian CFP schools, admission is only offered based on the candidate's performance in relevant exams such as CA Foundation Level, CA Intermediate Level, CS and ICWA. Through the entrance examination process, the universities ensure that the best applicants are selected. Some of the most popular entrance exams are listed below:

CA Level Entrance Exam
ICSI
ICWA CMA Exam
CAIIB Exam

Fee Structure

The CFP fee structure charged by colleges depends on various factors. Factors affecting CFP fees include infrastructure, institutional facilities, faculty, internship opportunities, etc. The average fee for a CFP course in India is INR50,000 – 1 LPA. Below is a list of colleges for CFP course duration and fees in India:

Name of College	Average Annual Fees
ICOFP, Mysuru	INR 36,000 PA
ICOFP, Mumbai	INR 35,000 PA
ICOFP, Kolkata	INR 35,000 PA
Virtual Voyage College of design	INR 45,000 PA
ICOFP, Lucknow	INR 35,000 PA
ICOFP, Chennai	INR 35,000 PA

Course Comparison

Parameters	CFP	CFA
Course Name	Certified Financial Planner	Chartered Financial Analyst
Course Overview	It imparts the knowledge in the field of Financial Planning and it is offered by the Financial Planning Standards Board (FPSB).	It is considered to be one of the most respected degrees in Financial Services and Management and the pinnacle in Investment Management and Analysis.
Course Duration	6 months – 2 years	1.5 – 4 years
Course Level	Certificate	Certificate
Eligibility Criteria	50% in Under Graduation	Graduation in relevant discipline or 4 years of work experience
Admission Process	Merit/Entrance Based	Merit/Entrance Based
Career Prospect	Tax Consultant, Financial Planner, Estate Planner, Investment Planner etc	Public Accountant, Forensic Accountant, Financial Analyst, Financial Advisor etc
Course Fees	INR 76,445	INR 1,11,870

Top Colleges of Certified Financial Planner

Listed below are some of the top Certified Financial PlannerColleges in India which offer the course:

Name of College	AverageAnnualFee(INR)	Location
Indian School of Business Management and Administration	INR 20,990	Hyderabad
Indian School of Business Management and Administration	INR 20,900	Patna
Indian School of Business Management and Administration	INR 25,900	New Delhi
IMS ProSchool Pune	INR 30,000	Pune
ICICIdirect Centre for Financial Learning (ICFL)	INR 30,000	Kolkata
ICOFP Delhi - International College of Financial Planning	INR 35,000	New Delhi
ICOFP Mumbai - International College of Financial Planning	INR 37,500	Mumbai
ICFL –Icicidirect Centre For Financial Learning	INR 37,500	Pune

Jobs and Placements in Certified Financial Planner

Given the growing population of the country and the annual income it generates, there is a great need for financial planning. Therefore, CFP professionals work with individuals, corporations, banks, wealth management firms, insurance companies, and accounting firms on issues related to financial management, wealth preparation, tax, insurance, and pensions. The position as a certified financial planner essentially consists of four tasks.

1. Client Identification: Interviewing individuals or companies to understand their financial goals, investment objectives and related issues.

2. Assessment of the client's financial situation: analysis of the client's income range, income streams, assets, debts and problem areas. Predict the future based on historical and present conditions.

3. Creation of a financial plan for the customer: After analyzing the customer's target status and financial situation, CFP develops an investment plan for the customer.

4. Implementation of the plan and periodic review: If the plan is approved by the customer, CFP implements it and reviews it regularly to ensure maximum benefit for the customer.

Private Jobs

The private sector has a lot to offer CFP graduates thanks to their skills and knowledge. Private CFP positions are available in investment, financial management, banking, portfolio management, relationship management, data analysis and legal services. The average salary of a CFP in India is INR 4 LPA (Source: PayScale). With a desirable set of soft skills and academic reading, the scope of CFP in India is exponential. Here are some of the CFP private sector jobs along with the salaries on offer:

Top Private Hiring Roles	Salary
Data Analyst	INR 8 LPA
Personal Finance Advisor	INR 8 LPA
Cost Controller	INR 6.3 LPA
Portfolio Manager	INR 5.3 LPA

Government Jobs

Economics and financial planning have become key elements in the nation's development. The public sector offers a variety of career opportunities in financial management, investing and planning. Appropriate candidates can apply for CFB positions in the public sector and are typically screened through an entrance exam. A personal interview or counseling interview takes place after the entrance exams. The average salary of a CFP in India is INR 4 LPA (Source: PayScale).Here are some Government Sector Graduate Career Roles and CFP Salaries in India:

Top Government Hiring Roles	Salary
Branch Manager	INR 9.7 LPA
Relationship Manager	INR 3.9 LPA
Finance Officer	INR 3.5 LPA
Financial Planner	INR 3 LPA

Abroad Jobs

The private and public sectors in India offer numerous opportunities for CFP certificate course graduates. In many other countries, however, job opportunities at CFP are even greater. Economic development and infrastructure have enabled many First World countries to offer numerous career opportunities in finance and investment. The growth of the economic sector in many countries in Western Europe or America is a testament to the jobs and employment opportunities available in CFP-related sectors. Many graduates often choose higher education abroad to gain more exposure and knowledge.

Top International Recruiting Companies who hire Certified Financial Plannergraduates are:

SBI
Wells Fargo & Co
JP Morgan
ICICI
VISA Inc
Ministry of Finance
RBI
HSBC
Amazon
ICBC
IRCTC
Royal Bank of Canada
Standard Chartered Bank

Job Profiles

Some of the famous expert avenues open to successful graduates of the Certified Financial Plannerdegree are indexed underneath with the corresponding salaries provided for the respective positions.

Job Profile	Job Description	Average Salary in INR
Financial Analyst	Performs research and analysis and/or manages investment options, making recommendations to advisors.	INR 4,50,000
Investment Manager	Selects and manages investments on behalf of a firm and its clients.	INR 4,00,000
Portfolio Manager	Manages client assets and portfolios in accordance with firm's guidelines, and contributes to research and analysis of investment opportunities and firm investment philosophy.	INR 7,00,000
Finance Assistant	Responsible for the business and financial forms of a company for the purpose of verifying account balances, facilitating purchases, etc.	INR 2,90,000
Mutual Fund Admin	Mutual Fund Admins or Advisors are the professionals who know everything about the mutual funds. They are responsible for helping and consulting their clients or individuals all about the process related to investing funds in mutual funds.	INR 4,00,000
Personal Financial Manager	Creates holistic financial plans to meet the unique financial goals of their clients.	INR 3,00,000

Scope for Certified Financial Planner

A career in financial planning offers many potential career paths. In this article, we will discuss the future reach of the CFP Certified Financial Planning. Become a CFP and change people's lives! The job of financial planner is becoming increasingly important as the economy continues to suffer. In addition to growing consumer demand for financial advice, the COVID-19 pandemic has increased the focus on financial planning.

The future reach of the Certified Financial Planner is promising. With over 2.05 million people in India, this profession is growing rapidly. Demand for CFP will reach 50,000 in the next five years and the future looks bright for these professionals. The CFP brand is managed by CFP.This is an industry designation. If you have the qualifications and training you desire, you can become certified to work in this field.

Certified Financial Planner: Career Prospects

As a Certified Financial Planner CFP, you have numerous career opportunities available. You can work in private practice, as a consultant, or in a fund house, where you can help retail investors choose the right investment products. You can also become a trainer or lecturer. There are many benefits to training. It increases your knowledge of investing and allows you to share that knowledge with others.

The modern banking industry is one of the largest recruiters of certified financial planners. In addition to being highly competitive, banks and financial planning firms are competing for the same customers. As a certified financial planner, you will need to analyze the risks and opportunities associated with various financial decisions and provide analytical reports to your clients. This is a rewarding career path. However, if you plan to work independently, make sure to choose a reputable institution.

FAQs

(1). What does the PFC do?

Ans:CFPoffers its clients financial assistance in developing an appropriate investment plan to achieve any personal goals within a given fiscal year or long-term.

(2). How long does it take to become a CFP?

Ans:It totally depends on the candidate and his ability to pass all the exams. This can take a minimum of 6-9 months and a maximum of 3-4 years. Students only have to complete the aptitude tests, which they can take after appropriate self-study or coaching courses.

(3). Is the CFP easier than the CFA?

Ans:The CFP is slightly easier than the CFA in terms of exam difficulty as one must qualify for all three levels to become a CFA, which is more difficult compared to the CFP.

(4). Which is better, CFA or CFP?

Ans:CFAs generally work more in the area of ??financial analysis and investing, while CFPs act more as advisors to individual clients.

(5). Is CFP worth it in India?

Ans:The CFP course in India is worth it due to the lack of supply/demand match. India is a growing economy and needs specialists in investment planning, wealth management, risk planning and insurance etc.

(6). Can I do the CFP after 12?

Ans:To obtain the CFP certification issued by the FPSB, the candidate must complete grade 12 and pass five exams on the six modules of the certificate program.

(7). Can I become a CFP without a diploma?

Ans:No,a bachelor's degree or higher in any major from an accredited college or university is required for CFP certification.

(8). What is the salary of a CFP in India?

Ans:The average salary for a CFP in India is around INR 3-6 LPA. After acquiring the required experience and skills, these professionals can earn up to INR 20 LPA after approximately 10-15 years of relevant experience.

(9). What resources and books on PCP are there in India?

Ans:There are many publishers and training institutes that offer good CFP learning material. Some of them are:Dalton investment planning, risk analysis, IIBF insurance and retirement planning, Prasanna Chandra investment analysis and portfolio management, etc.

(10). Is the CFP recognized worldwide?

Ans:The CFP award is recognized worldwide for excellence in financial planning. There are approximately 17,000 certified financial planners across Canada who are part of an international network of more than 170,000 CFP professionals in 26 territories around the world.

(11). What does the CFP do?

Ans:CFP offers its clients financial assistance in developing an appropriate investment plan to achieve any personal goals within a given fiscal year or long-term.

(12). How long does it take to become a CFP?

Ans: It totally depends on the candidate and his ability to pass all the exams. This can take a minimum of 6-9 months and a maximum of 3-4 years. Students only have to pass the aptitude tests, which they can take after appropriate self-study or coaching courses.

(13). Is the CFP easier than the CFA?

Ans: The CFP is slightly easier than the CFA in terms of exam difficulty as one must qualify for all three levels to become a CFA, which is more difficult compared to the CFP.

(14). What is the salary of a CFP in India?