HOW TO BECOME A CFP(CERTIFIED FINANCIAL PLANNER)

Introduction

Getting into financial planning could be a smart career move for you, and an excellent way to start with a solid, career-level training that leads to the Certified Financial Planner Certification. It is regarded as the most prestigious qualification in the Financial Planning industry creating excellent career openings in the financial services sector.

FAQs

What is Financial Planning?

Financial Planning is the process of meeting life goals through proper management of finances. The Financial Planning process consists of various steps that helps take a good look at finance and make prudent plans to reach desired goals.

How to become a Certified Financial Planner (CFP )?

CFP Certification is the highest qualification conferred in the financial planning industry and is offered in India by Financial Planning Standards Board (FPSB) India, an affiliate of International Certified Financial Planning Council, USA. To become a Certified Financial PlannerCM, one has to complete the CFPCM education program through authorized education providers of FPSB India, like IIFPM and must fulfill the four initial certificate requirements known as 4Es
• Education
• Examination
• Experience
• Ethics

What is the Certified Financial Planner education program ?

The CFP professional education program consists of six modules and covers areas such as professionalism, ethics and compliance, advanced financial planning and practice. The modules are:
Module 1: Introduction to Financial Planning
Module 2: Risk Management and Insurance Planning
Module 3: Retirement Planning & Employee Benefits
Module 4: Investment Planning Module
5: Tax Planning and Estate PlanningModule
6: Financial Plan Construction

What is the duration of Certified Financial Planner education program ?

The entire program can be completed in two years on a normal track and in a year on the fast track.

When is the examination of Certified Financial Planner program conducted ?

Examinations are conducted four times in a year (Jan, April, July & October). The examinations are conducted online and are held at centers designated by Financial Planning Standards Board, FPSB India.

How to become Associate Financial Planner ?

A person who successfully completes two modules (i.e. Module 1 along with any one module from Module 2 to 5) will be certified as an “Associate Financial Planner”. For example: if you successfully complete Module 1 & 2, you will be certified as an Associate Financial Planner (Insurance) and likewise in Investment, Retirement & Taxation.

What is the eligibility criteria of CFP/AFP program?

Certified Financial Planner: All Graduates, MBAs, CAs, CSs, CAIIBs are eligible. Associate Financial Planner: XII Std./ PUC are eligible

Qs. What is the role of IIFPM?

Ans,. IIFPM (Indian Institute of Financial Planning & Management is an authorized education provider for imparting CFP education in India. It is affliated to FPSB,India located at Mumbai, the Indian Chapter of Financial Planning Standards Board, Denver, USA. It is a link between the student enrolling for AFP/CFP program and the parent body - FPSB, India. IIFPM ensures the delivery of the said program as per the present guidelines from FPSB, India. New student registration for the AFP/CFP program, class room delivery, exam registration for each modules of the program are all administered at IIFPM as per the FPSB academic calendar.

Qs. How does a student benefit at IIFPM ?

Ans. A student at IIFPM is given classroom sessions for all modules apart from the academic material ( notes, faculty presentations, mock question papers etc. ) Apart from this with the launch of IIFPM LIVE, an IIFPMian will be able to post a query on his relevant subject module to the concerned faculty and the same would be addressed to at the earliest. For this the student would be given a Log In Identification number. The entire student-faculty interface would be administered exclusively by the IIFPM team.

Qs. How can one avail of the placement service ?
Ans. On posting of the individual student resume with IIFPM, the employers are forwarded the respective data base and they absorb the students as per the individual requirements.

What are the employment opportunities for a CFP ?

The CFP certification is internationally recognized and a qualified CFPCM certificant may either have his/her own practice of Financial Planning or be employed in any one of the financial sectors like Banks and Credit unions, Public Institutions, Corporations, Financial Consulting firms, Accounting firms, Insurance companies, Securities, Brokerages and Mutual Fund companies.

What is Course Methodology at IIFPM?

The program sessions are conducted on weekends (Saturdays/Sundays) for the convenience of working professionals as well as students pursuing other educational programs.

How can one enroll at IIFPM?

For Certified Financial Planner( CFP) program For all six modules: ---Rs 26,000/-( The above fee is inclusive of the AFP Membership fee of Rs5000/-, tuition and the study material. The AFP membership is valid for three years.) Full fees for all six module can also be paid in installment i.e., Rs.6,000/-(initial payment) and balance payment through 10 post dated cheques (PDC's) of Rs. 2,200/- x 10 months. For Associate Financial Planner*For only two modules :---Rs 14,000/-( The above fee is inclusive of the AFP Membership fee of Rs5000/-,tuition and the study material. The AFP membership is valid for three years.) Full fees for all two module can also be paid in installment i.e., Rs.6,000/-(initial payment) and balance payment through 4 post dated cheques(PDC's) of Rs. 2,500/- x 4 months.
Note:
1. *Subsequent Modules of the CFP program on completion of AFP modules),the course fee would be Rs 3000/- per module.

2. The above fee is inclusive of the AFP Membership fee of Rs5000/-, tuition and the study material. The AFP membership is valid for three years.

3. Exam fee: A student of the CFP /AFP program has to pay an addition Rs1500 per module towards the exam fee. However for center other NSE a higher fee to be charged on actual as prescribe.

4. In case of students opting for installment plan, Post dated cheques should given along with the initial payment.

5. Exam fee: A student of the AFP/CFPtm program has to pay an additional Rs.1500 per module towards the exam fee if the examination center is any one of the NSEs. However, for centers other than NSEs, a higher fee will be charged on actual as prescribed by FPSB India.

6. In case of students opting for instalment fee plan, post-dated cheques should be given along with the initial payment at the time of admission to the AFP/CFPTM program.

5. Students are required to submit at the time of admission the following:

• Duly completed IIFPM/FPSB India registration forms

• A copy of Std XII/ equivalent Pass Certificate attested by Gazetted Officer or by HRD Department of current employer.

• Three passport-sized photographs and one stamp-sized photograph.

• The course fee should be paid in favour of Indian Institute of Financial Planning & Management through cheque/demand draft payable at Bangalore.