The financial industry is growing in leaps and limits. There are many career opportunities and job openings in this ever-growing industry. Financial Planner Career is a corporate career track, even for those who run their own financial planning business and are not associated with a bank or financial institute.
Chartered Financial Planner (CFP) course is presently offered in India by two authorized education providers of the Association of Financial Planners (AFP) in technical collaboration with the Financial Planning Association of Australia Ltd., (FPA). ). An MBA and CFP qualification in combination would give you a broad understanding of the various investment instruments and options, and their implications. Not restricted to just one industry, the CFP certification is useful for people involved in various professions like banking, investment advisory, financial planning, mutual funds and other financial services.
Career in financial planning is quite rewarding as financial planner career is one of the fastest-growing professions across the world and with a huge demand - supply gap in India. the youngster planning a career as financial planner has to help person with their financial situation - current and long-term with budgeting, saving and other aspects of financial goal setting also analyze and do research on equities and securities.
Those who are looking for CFP career in a firm, in India and internationally the opportunities are plentiful and growing fast. Companies such as JP Morgan, Deutsche Bank, Fidelity, Citi Bank, Franklin Templeton, HDFC Bank, Kotak, American Express, Reliance, HSBC Bank and ING are a few among the various market leaders that actively recruit CFPs.
WHAT IS FINANCIAL PLANNER?
Financial Planning is the procedure of meeting life goals through proper administration 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.
ELIGIBILTIY:
Certified Financial Planner: All Graduates, MBAs, CAs, CSs, CAIIBs are eligible.
Associate Financial Planner: XII Std./ PUC are eligible
DURATION:
The entire program can be completed in two years on a normal path and in a year on the quick path.
DETAIL SYLLABUS OF CFP COURSE:
The CFP Course curriculum, prescribed by FPSB consists of six modules:
Module 1: Introduction to Financial Planning–
This module of CFP Course is comprehensive and offers a complete overview of the financial planning process. It focuses on a globally accepted six-step financial planning process: general principles of cash-flow planning, budgeting, legal aspects of financial planning and acquaints the students with concepts of risk analysis, investments, insurance, retirement solutions, tax and estate planning, which are covered in greater detail in the subsequent five modules.The career in CFP Course has emerged as the flavor of the season.
Module 2: Risk Analysis & Insurance Planning–
Second module of CFP Course examines the principles of Risk Analysis & Insurance Planning to identify a client’s risk exposure and accordingly select appropriate risk analysis techniques. This CFP course module reviews basic insurance products, pertaining to both general and life insurance; analyzes various insurance needs, such as medical, disability, life and general insurance and finally determines the type and amount of insurance best suited to the client’s situation and needs.CFP course gives knowledge and expertise to handle all the financial aspects.
Module 3: Retirement Planning & Employee Benefits–
This CFP Course module assesses the significance of retirement planning, teaches analysis techniques, review of employee benefits (such as EPF, PPF, Superannuation Fund etc.) and the process to be adopted while developing a retirement plan. It focuses on imparting students’ appropriate skills, enabling them to identify retirement needs of the client and recommend appropriate retirement solutions for a happy and tension-free retired life.
Module 4: Investment Planning–
Fourth module of CFP course trains students in understanding the client’s investment needs and risk appetite and providing suitable solutions aimed at wealth creation. It reviews all categories of investments, client evaluation methods, and economic factors, risk and return analysis, security valuation techniques, asset allocation procedures and portfolio performance assessment. Various techniques and concepts used in portfolio construction and management are also examined.
Module 5: Tax & Estate Planning–
This module of CFP course aims to enhance the student’s knowledge in the realm of personal taxation and tax planning, by providing a synopsis of the key tax components. Estate planning sub-module introduces the student to the process of developing an estate plan to facilitate intergenerational wealth transfer. It includes assessment of wills, gift deeds, power of attorneys and various succession laws.
Module 6: Advanced Financial Planning–
The final module of CFP Course builds upon the knowledge gained in the previous modules and incorporates all aspects of personal finance that are vital for developing a comprehensive financial plan. Students are taught the steps necessary for collecting and evaluating client data, developing, recommending and executing appropriate strategies and also important aspects related to ongoing monitoring and evaluation of financial plans. Review of the legal, ethical and regulatory issues affecting financial planners is also covered.
HOW TO BECOME A CERTIFIED FINANCIAL ADVISER
Earn a bachelor's degree in business or finance. Although employers will accept other degrees, candidates with a finance background are often given main concern. Assignments in business and statistics are also wanted.
Obtain the required licenses. The bulk of states require certified financial advisers to have Series 7, 63 and 66 licenses. To schedule a testing date and request study guides, contact the Financial Industry Regulatory Authority.
Decide whether you will also sell insurance, as many certified financial advisers do. Contact your state's insurance board.
Apply for certified financial adviser positions. These are often listed at job boards like Monster or Hot Jobs. You can also contact financial companies such as Ameriprise or Charles Schwab directly. Local banks often have hire in-house financial advisers.
Apply for Chartered Financial Analyst (CFA) certification once you have the bachelor's degree and two years of experience under your belt. Contact the CFA Institute to set up a testing date and time.
EXAMINATION:
The CFPCM Certification Examination is planned to charge the candidate’s ability to apply Financial Planning knowledge to real-life Financial Planning situations. The Examinations are conducted by the Financial Planning Standards Board India through National Stock Exchange (NSE) countrywide.
EXPERIENCE:
The experience requirement qualifies work experience that involves Personal Financial Planning. The experience criterion is designed to provide the public the assurance that the candidate understands the counseling nature of personal financial planning.
What are the employment opportunities for a CFP?
The CFP certification is globally 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.
FEES:
It is in a range of Rs. 25000/- to Rs. 55000/-



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