What is Financial Planning – CFP

This post is for people who want to make career in Financial Planning . I will be talking about CFPCM Certification here .

What is CFP Certification ?

CFP or Certified Financial Planer Certification programmes in India are offered mainly by Financial Planning Standards Board India. Its a certification after doing which you will be a certified to be a Financial Planner and take different roles in the area of Financial planning .

What is FPSB ?

Its Financial Planning Standards Board India , The board authorised to give CFP certification in India . FPSB is a Public–Private Enterprise and a Professional Standards Setting body for Financial Planners in India. FPSB India proactively guides the development and promotion of standards for Financial Planning professionals to benefit and protect the public in the country.

Who should do CFP ?

Its for people who want to enter the field of Financial Planning , People are interested in the subject and recognise the huge potential and rewards this area may benefit . There are many other courses in Finance like CA , CFA , ICWA or MBA (finance) , but they are totally different from CFP . CFP mainly deals with planning of Finances in area of Investment , Insurance , Taxation . So its more inclined towards financial planning for individuals .

People who are working professional in other industries and want to switch there career in Financial planning can also go for CFP , its easy to complete the CFP certification while working .

Is it worth doing CFP , What is the Future of this ?

My take :

India has 1 billion+ population ,where financial awareness is almost non-existent , People here save money but do not understand how to invest it or take care of it in the best way . They dont even know the basic steps for Financial planning . Currently there are handful of CFP’s in India who are in great demand . In days to come CFP professional will be the most sought after and highly paid professional’s in area of Finance and overall .

So CFP is the next big thing all over India . That is my personal opinion .

How easy it is to do CFP , Is it too costly ?

How to register : There are many Education Providers (colleges) in India certified by FPSB to offer the study material , you have to enroll with some EP of your choice and do the course , They may offer the course through classroom coaching or Distance learning , you have to decide what suits you.

Giving Exams : The exams are conducted though nseindia.com just like NCFM exams , you have to register for an exam date , pay the fees and give the exam. thats it !! .


CFP Syllabus
CFP Prospectus

Cost :Its not at all costly compared to other courses in same field . There are 6 modules you have to clear . Following is the Fees structure

FPSB fees : 10,000
exams for 5 module per module : 13000 (2000 for 4 modules and 5k for last module)
EP Fees : 20000 (that is average , Many charge from 10k to 1 lacs)

So In total it should be around 45,000 – 60,000 .

Its one of the best career options in India currently at this cost .

people who want are in Bangalore can go for “MANDAR Learning Acedamy” as there EP .

To get more details , go to http://www.fpsb.co.in/Scripts/RegisterForCFPCertificationProgram.aspx

When do you become a CFP ?

You become CFP only after passing all the CFP module exams and having experience as per CFP criteria , Its either 3 yrs experience in Financial sector or 6 yrs experience in Non-financial sector . For details see there site .

Note : The information given on this post if not 100% information , I just gave a brief idea about CFP . for details you must see fspb site .

See my previos post of GFactor

Conclusion :

CFP is one big thing for India . Indians badly need right financial planning for them and in this country of 1 billion , CFP’s will be the king of future . So if you have interest , time and and some money , go for it .

– Please leave your Comments/suggestions/disagreements .
– Please leave your name in the comment .

466 CommentsAdd Comment

  1. Swarupa

    I have done Msc Comp Sci in 2004 . I don’t have any background or previous experience in this field. I want to start my career newly at the age of 32 and I found this course interesting. Am I eligible to do CFP curse? Is it beneficial for me? Does previous Education and Experience matters in this field to become a cfp?

  2. Jignesh

    Hi, Sir

    I am B.com & I clear amfi exam. I have exp. of 3 year in it. I want know that still how much worth it to do cfp and what is salary of cfp holders in current time.

  3. M Vallinayagam

    Sir, here everybody asked about CFP, that is why am also asking,

    If it is wrong, really sorry to u.

    Thank you

  4. M Vallinayagam

    Hello sir

    I am BE Mech and working in finance section of Private company (this company is dealing with Packaging machinaries). I have five years experience in financial operation like vouchers, Vendor payment, Margin calculation, stock monitoring etc.

    I am passionate about financial planning and come to know about CFP. getting more details from google about the course and exam pattern and even selected a Education provider. But what about present job opening for this. First, after completing CFP, i wanted to work in corporate for 3 years and then interested to launch own firm.

    Can you clarity the following?
    1. Starting salary
    2. can i get CFP certification immediately after completing exams ? (i have 5 years experience in finance operation only not worked in any financial services company like insurance, MF)
    3. How recruiters will recognize me or how can i know that which firm is hiring CFP?
    4. For employements, How to get a client base.

    Thanks, awaiting for your most valuable reply

    M Vallinayagam Chennai

  5. suman baksi

    Hi Manish,
    There are various certification available in industry like CFP, CWM,CFA. Can you pls share your view or comparative analysis of these certifications ?

    Suman Bakshi

    • Hi Suman

      I think comparision of each on this blog is not possible .. but I will give you a one line explanation

      CFP is for someone who wants to do individual personal finance planning
      CFA is for analyst at corporate level (not for a person)
      CWM is more for soemone who wants to be a wealth manager . it will involve numbers and calculations and analysis of stocks , portfolio

Leave a Comment