- Established in 2002 by Bajaj Capital Limited, a renowned Indian financial services group over 50 years
- ICoFP is the Pioneer and Market Leader in CFPCM Education with the actual Highest Passing Rate
- The original CFPCM curriculum in India has been written by ICoFP
- CFPCM Certified Faculty with high training standards
- Convenient weekend classes + E-learning Classes
- Strong alumni network over 10,000 students
- Our courses are adjudged amongst the Top 3 best finance courses in India - India Today Aspire
- Best Financial Planning Institute in India
- CFPCM Certification rated as the “Gold Standard” in Financial Planning by the Wall Street Journal in the year 2006
- Most recognized and respected advanced certification program for financial planners worldwide
- Recognized in more than 26 countries across the world
- No. of CFPCM Certificants is over 1,71,000 worldwide
- Endorsed by Top 44 leading Financial Service Companies in India
- Enhanced career and employment opportunities with Financial Services companies
- Charter Members of FPSB India have resolved that they will give first preference to CFPCM Certificants in recruitment
- SEBI Approved Certification for Investment Advisers
- Financial Planning Ranked as one of the best jobs of 2013 as per website Careercast.com
- Rated as “ One of the Best Job” by U.S. News and World Report 2012
- Acknowledged as one of the Upcoming Certification in financial services in India by “The Week” in 2004
- Rated as “ Hot Job” by CNBC IN 2003
- Financial Planning rated as No.1 career in 2001 by Jobs Almanac, USA
Module 1 : 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 India’s Code of Ethics and Professional Responsibility and Model Rules of Conduct, and the regulatory environment related to the Financial Planning domain.
Module 2 : Risk Analysis and 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.
Module 3 : Retirement Planning and Employee 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.
Module 4 : 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.
Module 5 : Tax and 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.
Module 6 : 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.
- Financial Advisors
- Estate Planning
- Wealth Management
- Financial Planning
- Tax Planning
I am an army officer who has served for 34 years and feel privileged to be associated with ICOFP wherein I attended CFPCM Certification training program. I have successfully cleared all CFPCM Certification modules in one attempt and all due to the quality of teaching n help extended by the faculty of ICOFP . It is an institute where faculty is highly qualified, focused and willing to extend knowledge beyond the expectations of students. I continue to learn from this finest organization and wish them all the success . I personally wish to thank outstanding faculty who taught me during our batch curriculum and whenever needed extra coaching especially, Ms Sonia Ambwani and Ms Prity.
Col. Sunil Midha
So far as my experience with ICoFP is concern i would happily write that "the kind of reference material, ongoing support for exam preparation/queries were excellent in nature, which helped me to create a benchmark as first student who cleared all CFPCM modules in less than 6 months probably in gujarat or india".
Current Job: Equity Researcher and Trader
It was a good experience with ICoFP. They were always ready to help with the course material as well as arranging for faculty. Good training sessions were organised by ICoFP, which enabled me to get deep understanding of the CFPCM course work, and thus, pass all the modules.
Current Job: MD with Mera Money Advisors Pvt Ltd
I enrolled myself with ICoFP for pursuing CFPCM Certification at the time when there were few Education providers. I chose ICoFP due to its extensive study material, exam oriented workbook and their support in terms of query solving and helping hands from their employee's. I am sure if i had chosen other education provider it would be very difficult for me to clear the modules. I thank ICoFP for extending full support and helping me to clear CFPCM.
Current Job: SBI Capital
I am from Navsari doing investment advisory since 2002. I m associated with ICoFP for 3+ yrs,I have very good experience with ICoFP. I have completed my CFPCM in AUGUST,09. The study material is perfect and the faculties are competent. ICoFP has supported me in each and every aspect of the course. As a education provider for CFPCM, ICoFP is incomparable.
Current Job: Independent Advisor
I am Mr. Adarsh veer malhotra. I joined CFPCM Certification from International College of Financial Planning in 2006 and succefully cleared the course and currently working as senior executive in a nationalized bank in Delhi. ICoFP has an excellent course curriculum and experienced faculty members. CFPCM Certification has really given a boost to my career and it helped me a lot to enhance my knowledge.
A V MALHOTRA
Current Job: Senior Executive in a Nationalized Bank
1. What is CERTIFIED FINANCIAL PLANNERCM (CFPCM) Certification?
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 India's Authorized Education Partners.
2. What is Financial Planning Standards Board (FPSB), India?
Ans: FPSB India 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 India is supported by 50 Financial Services Organizations in the country as its Charter Members.
3. What is Financial Planning?
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.
4. What are the benefits of pursuing the CFPCM Certification?
- Wide employment and career opportunities in Financial Services Sector
- Opportunities to show case your knowledge on Financial Planning & Advising through various media vehicles.
- Getting recognition in over 24 countries.
- Having self-satisfaction of in attaining a professional recognition and having met the global benchmarks.
- Ideal for self-employment. Financial planners can start their own practice as an entrepreneur.
- Having long term relationships with the satisfied clients and also gaining referrals from them.
- CFPCM professionals earn 26 percent more in compensation than other financial advisors, adjusted for years of experience
- Practices with CFPCM professionals generate 40 percent more revenue and are generally more productive than other firms
- Satisfaction from helping people meet their financial goals and plan for the future.
- Practitioners' Workshop – Guidance and workshops to enhance professional practice.
5. Is CFPCM Certification a global certification?
Ans: Yes, currently CFP Certification is offered and recognized in over 24 countries. FPSB India is one of the Affiliates of FPSB, Denver, USA.
6. What is the eligibility criterion to register for the CFPCM Certification Program?
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.
7. What are the career prospects of Financial Planning and after completing the CFPCM Certification?
In India, CFPCM
are in high demand in the following fields:
- 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
8. How are Financial Planners compensated in India?
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
9. Is there any entrance test to join the CFPCM Certification Program?
Ans: No, there is no entrance test for joining the CFPCM Certification Program.
10. What is the curriculum of the CFPCM Certification Education Program?
Ans: There are 6 modules in CFPCM, out of which 1 module does not have exam for it.
- 1. Introduction to Financial Planning No exam
- 2. Risk Analysis & Insurance Planning Exam 1
- 3. Retirement Planning & Employee Benefits Exam 2
- 4. Investment Planning Exam 3
- 5. Tax Planning & Estate Planning Exam 4
- 6. Advanced Financial Planning Exam 5
11. What are 4Es Criteria for awarding CFP Certification?
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.
12. What is AFP Certification?
Ans: To professionalize the product based advisory and specialized advisory services, FPSB India 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 India and industry encourages the students to undertake the complete CFPCM Certification Program to practice Financial Planning in its true comprehensive spirit.
13. What is the maximum period given to a candidate to complete the CFPCM Certification Program?
Ans: A candidate is given maximum 7 years to complete the CFPCM Certification Education Program course from the date of the first module registration.
14. What is Challenge Status Program?
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 India has introduced a fast track Certification Program in line with global certification practices which has been christened as "Challenge Status Program".
15. What is the eligibility criterion to register for the 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.
16. What are the renewal requirements of CFPCM Certification?
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 India has made Continuing Education one of the key requirements for continued use of FPSB India'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 India must receive a duly-completed CE Reporting Form along with the Fee(s) before the renewal date.
17. What is the format of the CFPCM examination?
Ans: The format of CFPCM examination conducted by FPSB India is objective Multiple Choice Questions (MCQ) in a Computer Based Testing (CBT).
18. Can I appear for Exam 5 before clearing Exam 1-4?
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.
19. Which language are the exams conducted?
- Ans: The exams are conducted in English only.
20. What is the duration of each exam?
Ans: Exam 1 - 4: Two (2) hours each for Exam 1, Exam 2, Exam 3 and Exam 4
Exam 5: Four (4) hours
21. Is there any negative marking in CFPCM examination?
Ans: No, there is no negative marking in CFPCM examination.
22. What is the minimum passing percentage in CFPCM examination?
23. Is ICFP an authorized education provider of FPSB?
Ans: Yes, ICFP is an authorized education partner of FPSB to deliver the CFPCM Certification Education Program.
24. Why consider ICFP to prepare for the CFPCM Certification Education Program?
- ICFP is the pioneer and market leader in CFP Education with highest passing rate.
- ICFP is the authorized education provider of Financial Planning standards Board, India.
- ICFP is awarded outstanding B-School - North (Star News)
- 85% of total CFPs have passed out from ICFP.
- ICFP courses are adjudged among the Top 3 best finance courses in India - India Today Aspire, June 2008.
- ICFP Has more than 10,000 students enrolled.
- ICFP Has the best alumni network.
- ICFP provides Convenient weekend classes.
- Best study material and innovative teaching methodology.
- ICFP Has the best industry partnership
- ICFP's placement cell assists career starters and career switchers.
- Pool of experienced and CFPCM Certified Faculties.
25. How much does it cost to pursue and attain the CFPCM Certification under "Regular Pathway"?
Ans: There are various costs associated with the CFPCM Certification Program. The costs may vary from student to student based on the Education Partner he/she selects and number of attempts he/she requires to pass the examinations. A brief estimate of associated costs is listed below:
- Student Registration Fees with FPSB India: Rs 16,385 (valid for 1 year)
- Education Program Fees: Each of the Education Partners (EP) has their own fee structure for the Education Program ranging from anywhere between 10,000 to 1,00,000 depending on the Program mode (online, distance learning or classroom) the candidates chooses
- Exam 1-4 Fees: Rs 2,360 per exam per attempt
- Exam 5 Fees: Rs 7,080 per attempt
- CFPCM Certification Fees: 6,000 and to be renewed annually
** FPSB India 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.
||A candidate must be HSC/12 th pass at the time of enrollment and has to complete the Education criterion, which is passing the following four examinations either through self study or through training support from any one of FPSB India's approved Education Partners.
1. Risk Analysis & Insurance Planning (Exam 1)
2. Retirement Planning & Employee Benefits (Exam 2)
3. Investment Planning (Exam 3)
4. Tax Planning & Estate Planning (Exam 4)
These Exams are facilitated by NSE and conducted online on NCFM platform on NSE's examination centres and other NSE networked sites throughout India.
||A candidate must be a CA / Intermediate level, CFA (US), ICWA, CAIIB, CS, LLB, PhD,
M.Phil, PG, Licentiate/Associate/ Fellowship of Life Insurance, Actuary, FFSI &
FLMI from LOMA, Civil Service Examinations by UPSC. For details see refer to
Challenge Status Qualifications.