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CERTIFIED FINANCIAL PLANNERCM

Jumpstart your career with the world of opportunities

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CERTIFIED FINANCIAL PLANNERCM

Jumpstart your career with the world of opportunities

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CERTIFIED FINANCIAL PLANNERCM

Jumpstart your career with the world of opportunities

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CERTIFIED FINANCIAL PLANNERCM

CERTIFIED FINANCIAL PLANNERCM certification is a mark of excellence granted to individuals who meet the stringent standards of education, examination, experience and ethics. It is the most prestigious and internationally accepted Financial Planning qualification recognized and respected by the global financial community.

The CFPCM certification wins trust and presents opportunities worldwide. In this era of super specialization, the Professional Certification CERTIFIED FINANCIAL PLANNERCM certification gears career aspirants and existing financial intermediaries for giving comprehensive financial advisory services to individuals and make a satisfying career in the financial services industry.

CFPCM certification is the highest level of certification worldwide in the field of Financial Planning with over 1,71,000 CFPCM certificants and widely respected by consumers, professionals & industry. Our Certified financial planner course prepares you for this certificate program.

The CFPCM certification training is built in a way such as to impart knowledge of how to frame financial policies with regard to cash control, lending, and borrowing. It lets students understand the best possible utilization of scarce financial resources at least cost, in order to get maximum returns on investment.

CFPCM designation is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards (CFP Board) in the United States, Financial Planning Standards Council in Canada and 24 other organizations affiliated with Financial Planning Standards Board (FPSB), the international owner of the CFP mark outside of the United States.

FPSB US is the principal licensing body that awards CFPCM Certification in India through an agreement with FPSB Ltd.

CFP Career Opportunities

CFPCM certificant gets enhanced career and employment opportunities with Financial Services companies. It is endorsed by top 44 leading Financial Service Companies in India. Charter Members of FPSB US have resolved that they will give first preference to CFPCM certificant for recruitment.

Below mentioned are some benefits for your career:

  • Your services are sought by banks, distribution houses, AMC, insurance Companies, equity broking and Financial Planning firms.
  • Your credentials will demonstrate trust among the financial consumers.
  • You will meet the global benchmark for competency, ethics & professional practice standards to provide comprehensive Financial Planning services.
  • You will join the global league of the best Financial Planning professionals.
  • More revenue streams by increasing your product and service offering to your clients.

Benefits of CFP Certification

Valued by Stakeholders around the world, CFPCM Certification benefits consumers, practitioners, financial services firms and legislators/regulators/governments in a variety of ways. Learn how each stakeholder group values CFPCM Certification by clicking on the tabs below:

CFP Curriculum

CFP Curriculum in India has changed wef 1st June 2020.

New CFP Curriculum in India is a unique 4-in-1 certification program, which means that it one single program, you get awarded with 4 Certifications.

New CFP Curriculum is segmented into 4 levels. Upon completion of each level, FPSB awards an International certification for that level.

CFP Level 1 – FPSB® INVESTMENT SPECIALIST

International Certification for Investment Professionals specializing in Equity, Mutual Funds , Debt & Other Investments

CFP Level 2 – FPSB® RETIREMENT & TAX SPECIALIST

International Certification for Retirement Planning, Wealth Building, Income Tax, Tax Filing, Tax Saving & Tax Planning

CFP Level 3 - FPSB® RISK & LEGACY SPECIALIST

International Certification for Risk Planning, Life Insurance, General Insurance, Legacy &, Real Estate Planning

CFP Level 4 - CFM CM - CERTIFIED FINANCIAL PLANNER

International Certification for Financial Advisors, Financial Planners, IFAs, Investment Advisors & Finance Professionals

 

Introduction to Financial Planning

This module would serve as an introduction to Financial Planning. The module would cover in detail the Financial Planner Competency Profile, the six step process which includes Financial Planning process, client interactions, general principles of financial management, financial mathematics, personal financial statements, cash flow and debt management, asset acquisition, FPSB US Code of Ethics and Professional Responsibility and Model Rules of Conduct, and the regulatory environment related to the Financial Planning domain.

Risk Analysis & Insurance Planning

This module would cover the knowledge requirements relating to insurance needs and risk assessment of clients. It introduces students to various concepts and regulatory environment of insurance in India.

The evolution process requires advice on decisions in selecting various types of insurance related to personal finance for clients. This includes protection against exposures to risks of mortality, health, disability, property, liability, and long term care risk.

Retirement Planning & Employees Benefits

This module would cover the knowledge of basic strategies towards achievement of objectives of a client of his/her post-retirement financial and other needs and ways to systematically build the required corpus.

The knowledge and skills of exploring and constructing various retirement solutions such as income flow from a purchased annuity and/or a fixed asset as well as of retirement products available or devised/customized would be tested.

For clients who are employees of an organization – government, quasi-government or private, the superannuation benefits eligible and their assimilation in retirement strategy would be required for a prospective CFPCM professional.

The emphasis would also be on the process of wealth creation and its protection and liquidity aspects in the approaching years to retirement and in the post-retirement period.

Investment Planning

This module would cover the critical knowledge of different asset classes and interplay amongst them, the products constituting such classes and their investment risk profile to enable the management of a client's finances towards achieving various financial goals.

The development of vital understanding of the basic risk profile of the client so as to astutely recommend appropriate asset allocation is a crucial area requiring mastery. Another aspect that needs sharp skills is the measurement of investment risk and returns, their analysis in portfolio evaluation and alignment to suit the financial goals.

The awareness and knowledge of the regulatory environment of investment products and services is an essential domain.

Tax Planning & Estate Planning

This module would cover the knowledge requirements of Indian Tax System, specifically related to Direct Taxes and personal taxation.

The tax treatment of the types of income such as agricultural, business, salary and the attendant exemptions and benefits need to be discerned. The emphasis is on tax efficiency of transactions at all stages, viz.

Structuring of emoluments, saving taxes within permissible limits as suited to long-term goals, investing, spending, gifting and transferring wealth. The knowledge of various business forms and related tax strategies is also covered.

The Estate planning is emphasized not as a late stage requirement but a necessary succession arrangement always in place for all assets – fixed, physical and financial. The discerning knowledge of tax laws and succession laws and their compliance procedures is a rigid requirement of this module.

Advanced Financial Planning

The final module 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.

Pathways to CFP Certification

There are 2 Routes available to study for CFP program.

1 – Instructor Led

FPSB Board has authorised Education Partners in India who offer CFP Study programs based on the curriculum provided by FPSB. Student can enrol with an Education Provider. ICOFP is India’s 1st and Largest CFP Education Provider authorised by FPSB USA. When you enrol at ICOFP, you get the comprehensive study materials designed exclusively by ICOFP. The study materials comprise of books, workbooks, videos, live classes, case studies, projects, guest lectures, assignments and much more. Once your study is over and you are ready to take the exam, ICOFP certifies you for he same and you don’t need to take the chapter quizzes and mock tests. Straight away, you become eligible to take the Level wise certification exam.

2 – Self Study

A student can register with FPSB directly and opt to a self study. Under this route, student has to register with FPSB and then subscribe to their online learning management system upon which he gets study contents in the form of e-books. Using them the student has to prepare for the exams. Before the exams, student has to take the chapter quizzes and mock tests and pass them with 70% marks to be eligible for taking the Level wise certification exam.

CFP Study Fees at ICOFP

You can opt to study for CFP level wise or can enrol for the full program together, the choice is yours.

The fee plan for ICOFP CFP Study Modes are as below :

Being a top CFP education provider, ICOFP also has financing tie-ups where you can get Interest Free Student Loans for your CFP Education Fee as above.

CFP Certification Fees at FPSB

While you register and enrol with FPSB, you need to pay the fees as per the following schedule.

CFP Eligibility

Pathway To CFPCMCertification

Pathway Education Examination Experience Ethics CFP Certification
Regular A candidate must be HSC/12 pass at the time of enrollment and has to complete the Education criterion, which is passing the four level wise examinations either through self study or through training support from any one of FPSB India's approved Education Partners. CFP Level1-2-3 & CFP Final Exam Either Pre or Post CFPCM Examinationa (3 Years for Graduates & 5 Years for Non Graduates) Online Study and Attestation Program of FPSB for 5 hrs Signed Declaration for adherence to FPSB India's Code of Ethics Rules of Professional Conduct Candidate is Authorized by FPSB India to use CFPCM Marks i.e CERTIFIED FluANCIAL PLANNERCM, CFPCM
Challenge Status In case of certain NISM Exams, CA / Insurance Licentiate/ the level wise Online Study Materials subscription at FPSB is exempted at L1 & 2. Education exemption means that they are exempted from buying the study materials but they do need to take Online Mock Test before taking the level wise certification exam. Pre CFPCM Examinationa (3 Year in Financial Service Industries and 5 Year for Non-Financial Service Industries )

CFP Study Materials at ICOFP

Unique blend of Books, e-books, Practice Papers, Projects, Video Lessons, Mock, Guest Lectures to enrich your knowledge, skills and making you a qualified CFP Professional.

There are 3 modes of CFP Study at ICOFP:

1. Class Room

Get taught by expert CFP faculty by attending CFP classes in Delhi and CFP classes in Mumbai at ICOFP campus.

CONTENTS IN CLASSROOM MODE:

Concept Books , Work Books , Pre-View Videos , Re-View Videos , Assignments , Online Mock Tests , Doubt Clearing Session , Case Studies for Practice , Group Projects , Guest Lectures .

(PACKAGE OF 10 ITEMS IN STUDY MATERIALS)

2. Virtual Online

Get taught by expert CFP faculty by attending CFP online classes across India. Study with Online Video classes.

CONTENTS IN VIRTUAL MODE:

Concept Books , Work Books , Pre-View Videos , Re-View Videos , Assignments , Online Mock Tests , Doubt Clearing Session , Group Projects .

(PACKAGE OF 8 ITEMS IN STUDY MATERIALS)

3. E-Learning

If you have a previous academic or professional experience of Finance and you want to study on your own, you can take the e-learning mode. You get pre-recorded videos by the faculty along with best CFP contents.

CONTENTS IN E-LEARNING MODE:

Concept Books , Work Books , Pre-View Videos , Re-View Videos , Online Mock Tests , Group Projects .

(PACKAGE OF 6 ITEMS IN STUDY MATERIALS)

CFPCM Classroom Training

At ICoFP, we believe in providing knowledge based as well as skill based training. Apart from preparing the candidates for CFP examinations through classroom teaching, mock tests etc., we also provide practical training which includes Financial Products training, Financial planning through mutual funds, financial plan construction through excel and more.

On completion, the candidate is not only prepared or CFP examinations but also ready to work in the industry or start his own financial planning practice to provide holistic financial planning services.

Candidates have the flexibility to choose from weekdays as well as weekend classes that best suit their schedule.

Virtual Classes for CFP

Welcome to New-Age Learning!

Wherever you are in India, if you want to study for CFP, you can study with India’s best CFP institute with Realtime Online teaching by the most trusted and expert faculties. You can join online CFP classes and study for CFP conveniently from the safety of your home. Post Covid, considering the travel restrictions and social distancing, Virtual Classes for CFP is the best option. CFP Virtual Classes at ICOFP are highly interactive and are delivered by the same faculty who teach in the class room as well.

CONTENTS IN VIRTUAL MODE:

Concept Books , Work Books , Pre-View Videos , Re-View Videos , Assignments , Online Mock Tests , Doubt Clearing Session , Group Projects .

(PACKAGE OF 8 ITEMS IN STUDY MATERIALS)

Demo Video

CFP E-Learning

Goal of the E-Learning platform is to provide the best user experience, anywhere, anytime, and any device. With the latest technology of Learning Management System (LMS), E-Learning platform aims at delivering updated and engaging content in the most interactive way. Our new and updated portal will give you the best learning experience that can be self-paced and allows a learner to track his/her progress throughout.

CFP Admission Procedure

STEPS TO BECOME A CFPCM CERTIFICANT FROM ICoFP

At ICoFP we emphasize on providing world-class education that will inspire and challenge all students and prepare them for the future.

Our Curriculum has been developed in association with Financial Planning Association (FPA) Australia and National Insurance Academy (NIA) as well as academicians from leading institutes such as IIM, FMS etc.

For a candidate to be a CFPCM certificant, he/she needs to complete the education program in maximum of seven years. To become certified, he/she is required to meet the following initial certification requirements:

Step 1 – ELECT: A candidate must choose the level of series from the following:

  • CFP Certification Knowledge Series – Classroom Mode (Weekday/Weekend options available)
  • CFP Certification Knowledge Series – E-Learning Mode/Virtual Classes
  • AFP Certification Tutorials

Step 2 – Enroll with ICoFP for exam preparation

Step 3 – Register with FPSB

Step 4 – Enroll for exam with NSE

Step 5 – Crack the exams, surge ahead & become a CFPCM certificant

The CFPCM Edge!

CFP Level 1

Investment Specialist Curriculum comprises of 3 Modules – Personal Financial Management (PFM), Investment Planning & Asset Management (IPAM) & Regulatory Environment, Law & Compliance ( RELC).

Within each of these modules, there are 2 Sub Modules – Global & Indian. So the curriculum covers 60% of the Global Content & Concepts and 40% of the India Specific Content & concepts.

1. Personal Financial Management

  • Client Financial Situation
  • Time Value of Money
  • Cash Flow Demands and Conflicts
  • Budget and Emergency Fund
  • Debt and Financing Alternatives
  • Financial Management Strategies

2. Investment Planning/Asset Management

  • Asset Classes and Securities
  • Pooled Investment Products
  • Principles of Investment Risk
  • Investment Performance Management
  • Investment Theory
  • Asset Allocation
  • Wealth Management
  • Behavioral Finance
  • Objectives, Constraints and Suitability

3. Regulatory Environment, Law/Compliance

  • Client Best Interest
  • Economic Environment
  • Social and Political Environments
  • Compliance and Implications
  • Anti-Money Laundering

CFP Level 2

RETIREMENT & TAX SPECIALIST comprises of 2 Modules – Retirement Planning (RP) and Tax Planning (TAX).

Within each of these modules, there are 2 Sub Modules – Global & Indian. The RP curriculum covers 60% of the Global Content & Concepts and 40% of the India Specific Content & concepts but TAX curriculum has 30% Global and 70% India Specific Content to study.

1. Retirement Planning

  • Retirement Principles
  • Retirement Objectives
  • Retirement Needs Analysis and Projections
  • Sources of Retirement Cash Flow
  • Retirement Cash Flow, Withdrawal Projections and Strategies

2. Tax Planning/Optimization

  • International Taxation
  • Cross-Border and Source Rules
  • Tax Strategies
  • Accounting Standards and Research

CFP Level 3

RISK & LEGACY SPECIALIST comprises of 2 Modules – Risk Management & Estate Planning.

Within each of these modules, there are 2 Sub Modules – Global & Indian. Risk Management as a module comprises the content more on Insurance whereas Estate Planning is Legacy & Succession Planning focused content.

1. Risk Management

  • Principles
  • Risk Exposures
  • Intro to Insurance
  • Insurance Company/Advisor Selection
  • Strategic Solutions

2. Estate Planning

  • Estate Planning Terminology
  • Wealth Distribution Goals
  • Estate Planning Process
  • Transfer During Life and at Death
  • Planning for Incapacity
  • Estate Planning Strategies

CFP Final

CERTIFIED FINANCIAL PLANNER comprises of 3 Modules – Financial Planning Process, Engaging Clients for Life & Developing Effective Plans. The final level is more about the practical aspects of Financial Planning & Strategic management of Financial Planning business. The concepts here are more of global in nature.

1. The Financial Planning Process

  • Financial Planning Process
  • Practice Standards
  • Professional Skills
  • Client Characteristics
  • Client Engagement and Communication
  • Critical Thinking

2. Engaging Clients for Life

  • Introduction to the Discovery Process
  • Appreciative Inquiry
  • Discovery Process Applied
  • Goal Determination, Refinement and Setting
  • Develop Financial Planning Recommendations
  • Presenting Recommendations to Clients

3. Developing Effective Financial Plans

  • Financial Planning Overview
  • Financial Plan Elements
  • Developing Effective Plans
  • Sample Financial Plans
  • Financial Plan Assessment

CFPCM FAQs

Ans:

CERTIFIED FINANCIAL PLANNERCM Certification is the most prestigious and internationally accepted Financial Planning qualification recognized and respected by the global financial community. CFPCM Certification is a mark of excellence granted to individuals who meet the stringent standards of education, examination, experience and ethics. Education is an integral component of the CFPCM Certification Program and any candidate aspiring to become CFPCM Certificant has to register himself with any of the FPSB Authorized Education Partners.

Ans:

FPSB is the principal licensing body that awards CFPCM Certification in India. It is a Professional Certification Organization, part of leading Global Confederation established by prominent financial service corporations with an objective to professionalize the concept of Financial Planning in India. FPSB is supported by 50 Financial Services Organizations in the country as its Charter Members.

Ans:

Financial Planning is the process of meeting your life goals through the proper management of your finances. Life goals can include buying a house, saving for your child’s higher education or planning for retirement. It is comprehensive planning which covers all aspects of an individual’s financial well being from wealth creation to wealth protection; selecting products to suit specific needs; monitoring and reviewing his financial situation on a regular basis and revising the plan if required.

Ans:

  • Enhanced career and employment opportunities in financial services sector.

  • Most recognised and respected financial planning certification in 26 countries.

  • Enhanced social status by joining the league of professionals.

  • Highly sought after certification by Banking, Financial Services and Insurance (BFSI) industry as it provides credibility with customers seeking trustworthy assistance.

  • Ideal for self employment. Financial planners can start their own practice as an entrepreneur.

  • Satisfied clients who appreciate the comprehensive approach to Financial Planning and extend long term relationship and referrals.

  • More revenue streams by increasing your product and service offering to your clients.

  • Opportunities to show case your knowledge on Financial Planning & Advising through various media vehicles.

Ans:

Yes, currently CFPCM Certification is offered and recognized in over 26 countries. FPSB India is one of the Affiliates of FPSB, Denver, USA.

Ans:

In order to enroll for the CFPCM Certification Education Program, the applicant must have at least passed his SSC (Class 10th) or equivalent. However, the applicant will be entitled to use the CERTIFIED FINANCIAL PLANNERCM or CFPCM marks only after he/she has acquired a minimum qualification of HSC (Class 12th). Moreover, the applicant also needs to have a minimum work experience of 6 years in the financial services industry. In case the applicant is a graduate, he/she needs to have a minimum of 3 years work experience in the financial services industry.

Ans:

In India, CFPCM are in high demand in the following fields:




  • Banking

  • Wealth Management Companies

  • Stock Broking Firms

  • Investment Advisory Services

  • Financial Planning Services

  • Life and General Insurance

  • Accounting and Law Firms

  • Asset Management Companies

  • Credit Counseling Organisations

Ans:

Financial Planners are remunerated in a variety of ways:




  • Fees charged to the client based on an hourly rate, a flat rate per plan, a percentage of the value of the client’s assets and /or income or a combination of these methods

  • Commissions from investment or insurance companies for product sold as the plan is implemented

  • A combination of fees and commissions

  • Salary for those employed by financial organizations or other institutions

Ans:

No, there is no entrance test for joining the CFPCM Certification Program.

Ans:

The Five modules under the CFPCM Certification Education Program are – 1) Introduction to Financial Planning, 2) Risk Analysis & Insurance Planning, 3) Retirement Planning & Employee Benefits, 4) Investment Planning, 5) Tax Planning & Estate Planning, and 6) Advanced Financial Planning.

Ans:

CFPCM Certification worldwide is awarded by FPSB Affiliates to competent and qualifying candidates fulfilling the 4 E Criteria of CFPCM Certification, i.e. Education, Examination, Experience and Ethics.

Ans:

To professionalize the product based advisory and specialized advisory services, FPSB has established AFP Certification which is targeted at existing professionals who want to upgrade their knowledge about Financial Planning without undergoing the entire CFPCM Certification Program. The various Certifications available under this option are:




  • AFP Certification (Risk Analysis & Insurance Planning)

  • AFP Certification (Retirement Planning & Employee Benefits)

  • AFP Certification (Investment Planning)

  • AFP Certification (Tax Planning & Estate Planning)



However, FPSB and industry encourages the students to undertake the complete CFPCM Certification Program to practice Financial Planning in its true comprehensive spirit.

Ans:

A candidate is given maximum 7 years to complete the CFPCM Certification Education Program course from the date of the first module registration.

Ans:

In order to enable eligible professionals (both in terms of education as well as experience) to acquire the CFPCM Certification in a more time efficient manner, FPSB has introduced a fast track Certification Program in line with global certification practices which has been christened as “Challenge Status Program”.

Ans:

The Challenge Status Program is for professionals who already possess certain skill sets and proficiency which is expected of Financial Planners. In order to enroll for the Certification through the Challenge Status Pathway, the candidate needs to meet the education and experience criteria. A candidate applying for the Challenge Status pathway needs to appear only for a single examination (Exam 5). Nevertheless, the syllabus under the Challenge Status program is same as in the Regular Pathway.

Ans:

The following are 2 requirements for renewing the CFPCM Certification

A) Continuing Education (CE):

The CE requirement of 15 points is effective immediately upon certification and one is required to meet this to be a CFPCM Certificant. Continuing Education (CE) plays a vital role to maintain and enhance the professional competence of the CFPCM professional in a dynamic industry. FPSB has made Continuing Education one of the key requirements for continued use of FPSB U.S. CFPCM marks.

B) Renewal Fee:

CFPCM Certificants pay a renewal fee currently set at Rs. 5,618/- per year. To avoid the late fee, the CE requirement must be fulfilled and FPSB must receive a duly-completed CE Reporting Form along with the Fee(s) before the renewal date.

Ans:

The format of CFPCM examination conducted by FPSB is objective Multiple Choice Questions (MCQ) in a Computer Based Testing (CBT).

Ans:

Only after a candidate is successful in all the component exams, Exam 1 – 4, he/she is eligible to take an attempt at the final exam, Exam 5.

Ans:

Exam 1 – 4: Two (2) hours each for Exam 1, Exam 2, Exam 3 and Exam 4

Exam 5: Four (4) hours

Ans:

No, there is no negative marking in CFPCM examination.

Ans:

Yes, ICoFP is an authorized education partner of FPSB to deliver the CFPCM Certification Education Program.

Ans:

  • ICoFP is the pioneer and market leader in CFP Education with highest passing rate.

  • ICoFP is the authorized education provider of Financial Planning standards Board, India.

  • ICoFP is awarded outstanding B-School – North (Star News)

  • 85% of total CFPs have passed out from ICoFP.

  • ICoFP courses are adjudged among the Top 3 best finance courses in India – India Today Aspire, June 2008.

  • ICoFP Has more than 11,000 students enrolled.

  • ICoFP Has the best alumni network.

  • ICoFP provides Convenient weekend classes.

  • Best study material and innovative teaching methodology.

  • ICoFP Has the best industry partnership

  • ICoFP’s placement cell assists career starters and career switchers.

  • Pool of experienced and CFPCM Certified Faculties.

Ans:

There are various costs associated with the CFPCM Certification Program. The costs may vary from student to student based on the number of attempts he/she requires to pass the examinations. A brief estimate of associated costs is listed below:




  • Student Registration Fees with FPSB: ₹16,385 (valid for 1 year)**

  • Exam 1-4 Fees: ₹4,130 per exam per attempt

  • Exam 5 Fees: ₹8,260 per attempt

  • CFPCM Certification Fees: ₹7,080 and to be renewed annually



** FPSB permits those students who complete within a year of their initial registration, any three exams from Exam 1-4 (RAIP, RPEB, IP and TPEP referred to as Exam 1 – 4) to complete the fourth exam and Exam 5 without payment of fees towards renewing their registration. This is valid for all new registrations from 1st June, 2013 onwards.

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