Studying and predicting financial condition is necessary in every organisation. In fact it is one of the most crucial factors that determine how a company lays its stakes in the business world and comes out triumphant most of the time. Financial planning is a specialised career wherein you are trained to offer financial consultancy to business organizations and financial institutions. Professionals are trained to be competent enough so that they can formulate financial strategies and help organisations make better business decisions.
Certified Financial Planner (CFP) is a professional certification mark that is conferred to financial planners and is conferred by the Certified Financial Planner Board of Standards in the United States and administered by the Financial Planning Standards Board India within India. CFP certification is essential if you want to make your career as a certified financial planner. To obtain this certificate you have to pass five exams which are based on various aspects of personal finance. There are numerous financial planning institutions in the country which offer a CFP certification course that prepares you for all the five exams.
There are several advantages of becoming a certified financial planner. Some of them are :
- Makes You Professionally Qualified – CFP is the only professional qualification that can recognise you as a financial planner. CFP is to financial planning what CA is to auditors, CS is to company law, and CFA to portfolio management and investment analysis.
- Independent Advisors – In the United States and many other developed nations, financial planners play very important roles as independent advisors. Though such advisory roles are not very popular in India yet, the trend is surely setting in. Indian financial planners are slowly offering holistic fee-based advice.
- Specialised Career Choice – Financial planners are today offering their services in insurance, estate planning, taxation, retirement, employee benefits etc. However, what makes a financial planner’s role different from the rest is the fact that all the above-mentioned services are seen to be inter-connected – part of a bigger picture. This helps the CFP make better financial decision that have an overall impact on all stakeholders.
- Differentiates Yourself – A CFP certification differentiates you from the rest and demarcates your role in the industry. A financial planner has a different set of skillset with regards to knowledge and range of services offered.
- Better Job Opportunities – Apart from having the option of working as an independent CFP, you also have the option of getting employed with an investment bank or any other financial institution. Since a financial planner has a specialised skillset, he usually gets a good remuneration for the job.
- Part of the Financial Industry – Last but not the least, you become a part and parcel of the financial industry. Several banking and financial institutions are accepting the concept of individualized financial planning so as to benefit their customers.
The best way to crack the rather rigorous CFP certification examination is to enrol in a CFP course offered by a reputed institution. This will give you the headway to pass the exam easily.
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