CFP (Certified Financial Planner) Course Details

A candidate who wants to meet their life goal of achieving so much into his/her life can go for financial planning as it is a process of meeting a person’s life’s goals through the proper management of their finance and economy. These goals should be so much like a home, a car, investment for a child’s education and a child’s marriage expenses and more future planning along with having benefits in one’s mind. All these life goals should be met while one ensures tax efficiency and planning for insurance. Uncountable openings are there in CFP Course.

This program is suitable for all those candidates who are now available for experts in the branch of Financial Planning. This program is way too suitable for those who all are looking to choose teaching fields as a career at a higher degree level such as university and college level in private and government institutions. Candidates must be able to communicate their insight along with strong writing skills. They must have relationship-management skills which should involve understanding various personality listening, kinds, asking the right questions, educating others, resolving conflicts and counselling many clients. 

The CFP is recognized internationally and considered the best for financial planning training, education and ethics to practice. The FPSB defines financial planning as a “process of developing strategies to help people manage their financial affairs to meet life goals.” It includes analyzing the client’s financial status, developing a financial plan for the client and implementing it for the client’s benefit.  A financial planner can offer services in the capacity of a consultant or represent his/her organization for offering financial planning services to individuals and organizations. To earn the CFP certification, professionals must fulfil certain eligibility criteria and complete the 6-module CFP Certification Education Programme.

List of CFP Courses:

There are certified CPF courses, as well as non-certified CFP courses which do, contributes to the career on any candidates. There is a diploma course for a year and a degree course of three years and two years. Like Bachelors and Post-Graduate degree. FPSB’s financial syllabus programme includes eight topics starting right from the fundamentals of the programme to the application of the skills in the real world.  

CFP Course Admission:

Any candidate looking to take admission in CFP can earn the CFP certification under two basic modes one is a Regular Pathway and another one is the Challenge Status Pathway. The candidate must have passed class 12th and should have cleared the five exams covering all six modules of the certification programme to be certified as a CFP by the FPSB. Candidates who all have cleared CA/Intermediate level, CFA, ICWA, CAIIB, CS, LLB, PhD, MPhil, PG, Licentiate/Associate/ Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service. Examinations cleared by UPSC all those have to apply through Challenge Status Pathway. All the candidates are required to clear only the fifth exam in this category of CFP Examinations. 

CFP Fees: 

The fee structure for the CFP course is respective with the regular pathway and challenge status pathway. Following fee structure will help out to understand the fee structure of CFP Fees Structure accordingly.

Description 
Fees 

Student Registration Fees with FPSB India

Rs 16, 385 (valid for one year)

Exam Fees (Paper 1-4)

Rs 4,130 per exam per attempt

Exam Fees (Paper 5)

Rs 8,260 per attempt

CFPCM Certification Fees

Rs 7,080 (renewed annually)


Fee structure for a challenge status pathway

Mode of Enrollment 
Fees 
Description 

FPSB India (Direct)

Rs 29,955

Registration fees (valid for one year), certification fees and administration & processing fees.

Through Charter Members of FPSB India

Rs 15,795

Registration fees (valid for one year), initial CFP certification fees, administration and processing fees.

CFP Course Syllabus: 

CFP Certification programme components:

  • Financial planning process
  • Financial planning practice and ethics
  • Professional Skills
  • Regulatory, economic, political environments; that affect personal financial planning
  • Law and compliance
  • Time value of money
  • Client characteristics
  • Client risk profile
  • Client engagement and communications
  • Critical thinking

Financial Management:

  • Principles of financial management
  • A personal and small business balance sheet with the net worth statement
  • Use and non-use assets
  • Cash flow statement
  • Budget preparation and management
  • Savings analysis and strategy
  • Emergency fund
  • Credit and debt management
  • Financial ratio analysis
  • Specific purpose planning

Investment Planning / Asset Management: 

  • Investment principles
  • Investment objectives, constraints, capacity and suitability
  • Investment time horizon
  • Behavioural finance
  • Asset classes
  • Investment theory
  • Performance measurement
  • Asset allocation and performance
  • Investment products – evaluation, selection and monitoring

Risk Management and Insurance Planning:

  • Risk Management Principles
  • Insurance Planning Objectives
  • Analysis and evolution of risk exposures
  • Risk management products
  • Insurance law and claims process
  • Product, company advisor selection and due diligence

Retirement Planning:

  • Retirement Principles
  • Retirement Objectives
  • Retirement needs analysis and forecasts
  • Potential sources and retirement income 
  • Retirement income and withdrawal projections and strategies 
  • Retirement planning and funding products 
CFP Course Career:

In Banking:  One may look for an opportunity in the banks of India as a career option. On successful completion of CFP course. Most of the banks have a Wealth Management department. This profile, in general, will advise HNI’s and UHNI’s on their investment avenues. 

NBFC’s:  Nowadays, Non-Banking Financial Companies (NBFC’s) would also prefer a CFP to advise clients on the various securities they deal with. It includes Shares, stocks, bonds, debentures and many more. A CFP will also gain a profound understanding of the practical aspects including these instruments.

Companies of Insurance: With a lot of information available on the web, Insurance Companies look for CFP’s to provide a Goal-based approach to their clients. The profile which mainly includes an assessment of a Client’s requirement and should advise a suitable policy accordingly.

Stock Broking Firms: Almost in every stockbroking firm, there is a research and advisory team today. CFP’s would fit into the research team perfectly and hence this would be a decent option to opt for. CFP’s would also be an interface to all the HNI’s that the brokers deal with.

Firms of Equity Research: 

There is brand equity of research firms today. As qualified CFP’s, we would be preferred here also.

You should start your own practice:  Individuals who want to be an independent person he/she may start their own practice in the field of Financial Planning and Wealth Management. Of course, this would involve too much planning and execution of ideas within legal vicinity. One should also be aware of the latest regulations while running your own firm as well. 

CFP Course JOB:

There are vast opportunities for CFO course after completing the CFP Course successfully. Following are the job opportunities of CFP Job Roles after CFP Course are:

  • Legal Financial Planner
  • Estate Planner
  • Retirement Planner
  • Tax ConsultantInvestment Planner
These all are few titles which one should get after completing the CFP Course.

CFP Course Salary:  The average salary of a certified financial planner Rs 3.5 lakh per year in India. There is a lot of scope for CFP’s to earn above the fixed salary in the form of a bonus of Rs. 50,000 on an average profit sharing and Rs. 22,000 in average or commission of Rs. 75,000 on average. 

Colleges for CFP Courses:

List of top CFP Colleges in India is as follows:

1. International College of financial planning, Delhi

2. Indian School of Business Management and Administration, Coimbatore

3. Indian School of Business Management and Administration, Guwahati/Patna

4. Indian School of Business Management and Administration, Raipur

5. Shri Venkateshwara College, Delhi

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Date: 24 Jul 2019

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