CFP For Career In Financial Planning

Financial planning is in nascent stages in India.  A lot of progress has been made in past few years to spread awareness about importance of financial planning for financial success.  In India there is scarcity for qualified and experienced financial planners to cater this segment of investors who are looking for them. In this context Certified Financial Planner (CFP) is an Internationally recognized course for financial planners.  It can be of great help for people looking for a career in financial planning.

Many students have doubts about CFP’s recognition and career opportunities after completing the CFP for career in financial planning and wealth managementcourse and be a Certified Financial Planner Professional with fpsbindia.  At the outset one must be aware of the fact that it is not a statutory course like CA, CS etc.,  In fact many international certifications in financial services are only recognized well due to their credibility and not just because they are approved by governments.

Although CFP is not a mandatory course, it can be used to register as SEBI’s RIA (Registered Investment Advisor).  At present one must register with SEBI as RIA for offering investment advisory services for a fee in India.  This can be reached in two ways.  One being a Qualified CFP and get exemption from mandatory examinations to register as SEBI Registered Investment Advisor.  Other option is to pass 2 examinations conducted by NISM (Investment Advisor level 1&2).  CFP is one of the few certifications which are recognized by NISM and SEBI for exemption of examination requirement towards becoming a Investment advisor.

Many candidates ask what is the salary for CFP in India and package for CFPs.  It entirely depends on the skill set and experience of the candidate along with Certified Financial Planner Certification.  Freshers with this certifications can expect around 4-5 lakh per annum and with experience they can reach higher levels.

Certified Financial Planner Program for Career In Financial Planning and Wealth Management

Awareness about financial planning and wealth management is spreading fast in India due to investor awareness programs conducted aggressively.  SBI is one of the first public sector banks to identify the opportunity to do business in wealth management.  Recently they have started Exclusif wealth management services. SBI is offering jobs for Certified Financial planners.  This is considered as an added advantage while applying for jobs in SBI for Exclusif wealth management platform. See the employment notice of SBI to see their requirement for investment counselors.  It mentions that for Investment Counsellor posts they require “Graduate from Government recognized University or Institution, preferably possessing the minimum qualifications and certifications mandated by SEBI for Investment Advisers under SEBI Investment Advisers Regulations would be preferred, CFP qualification may be an added advantage”.

Many candidates after becoming CFPProfessional, either join a wealth management firm, banks, AMC or other similar firms.  But not all of those look for a job as most of they start their own practice.  Some of these are practicing as fee only investment advisors while others are continuing their commission based distribution business.

Here are some of the programs that are related to finance and accounting that are available in India and provide better career opportunities.

Sr. No. Programme/Course Nature Eligibility University/Institution
1 MBA/PGDM/PGDBA with specialization in finance PG Degree Graduation with 50% and valid score in CAT/MAT/Other screening Respective Universities/ institution (central or state)
2 Chartered Account (CA) Professional (Accounting,taxation & auditing) Depending on entry level The Institute of Chartered Accountants of India (ICAI), New Delhi
3 Company Secretary (CS) -do- (Company Law) -do- The Institute of Company       Secretaries of India New Delhi
4 Certified Financial Planner (CFP CM) Professional (Financial Planning Insurance, Retirement,Investments & Taxation) Financial Planning Standards Board (FPSB), India, Mumbai,Website :www.fpsbindia.org
5 Chartered Financial Analyst (CFA) Professional (Portfolio Management & Investment Analysis) Association for Investment Management & Research (AIMR)
6 PG Diploma in Financial Planning (PGDF) PG Diploma CAT/MAT Score or ICFP written International College ofFinancial Planning (ICFP), New Delhi

We at RARE Academy are providing professional CFP certification training.  Personal attention is given to each student and classes are taken by a Practicing Certified Financial Planner.  Along with theory we provide practical and application oriented training in our well equipped computer lab.  Online mock tests are conducted to prepare the students for examinations.

We often notice that the program attracts a lot of interest among students community.  But honestly all those who approach to do the program are of not that caliber.  We advise some of the students first to undergo any NISM Certification programs  to test the waters in the finance and investment field.  They require less time and money compared to doing CFP Program.

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