About CERTIFIED FINANCIAL PLANNER (CFP)

CERTIFIED FINANCIAL PLANNER CM  (CFP CM) is considered as gold standard in the field of financial planning and allied services all over the world.  It is granted to the candidates who meet the 4E criteria of FPSB India (CFPCM, CERTIFIED FINANCIAL PLANNERCM and CFPCM are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. Financial Planning Standards Board India is the marks licensing authority for the CFPCM marks in India, through agreement with FPSB.). It is one of the most prestegious and highly regarded professional qualification in the field of financial planning by financial services industry.

The 4Es to get CFP CM which is a mark of excellence are

  1. Education
  2. Examination
  3. Experience
  4. Ethics

Education: All the regular pathway students registered for the CFP program must complete the education criteria by passing Examination 1-4.  This can be done by joining for training with any FPSB India Authorised Education Partner (RARE Academy, Guntur is FPSB India Authorised Education Partner) or under self study mode by preparing on own.

Examination: Advanced Financial Planning (Exam 5) needs to be passed by both regular path way and challenge status candidates to be eligible for awarding CFP.  A candidate becomes eligible for CFP certification marks only after passing the examination 5 either through regular or challenge status paths.

Experience:  After completion of education and examination parts one must prove that they have experience ranging from 3 to 5 years.  It depends the role of the candidate in the job or self employment.  Experience can be pre or post exams for regular path way students but it must be prior to examination in the case of challenge status candidates.  Recently a new option is made available by FPSB India.  One can undergo 1 year apprenticeship under a qualified CFP who is registered as a supervisor with the board.  In that case 3 or 5 years experience is not required.

Ethics: On completion of the education, examination, and experience requirements, the candidate applying for CFP Certification has to sign ethics declaration.  FPSB India adopted the Code of Ethics to establish the highest principles and standards. These Principles are general statements expressing the ethical and professional ideals Certificants are expected to display in their professional activities. As such, the Principles are aspirational in character and provide a source of guidance for Certificants.

Completion of 4E criteria will get most recognised and respected CFP certification to a candidate.  One need to apply to FPSB India to be a CFP.  The validity of such registration is valid for one year.  Once Certified, CFP Certificant must fulfill the Continuing Education (CE) requirement to stay current on Financial Planning strategies, products and trends affecting their clients. CE plays a vital role in the CFP Certificants pursuit of ongoing professional competence. This demonstrates to the public that the candidate has kept himself /herself abreast of developments in the Financial Planning field.

CE points can be accumulated through out the year by the way of attending various seminars conducted / approved by board, passing examinations like NISM / NCFM, writing articles in print or electronic media or by passing quiz available in the Financial Planning Journal published by FPSB India.

 

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