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.

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.

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.

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.

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.

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.

Ans: CERTIFIED FINANCIAL PLANNER^CM Certification is the most prestigious and internationally accepted Financial Planning qualification, recognized and respected by the global financial community. CFP^CM 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 CFP^CM Certification Program and any candidate aspiring to become CFP^CM Certificant has to register himself with any of the FPSB India's Authorized Education Partners.

Ans: FPSB India is the principal licensing body that awards CFP^CM 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.

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.

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• 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.
• CFP^CM professionals earn 26 percent more in compensation than other financial advisors, adjusted for years of experience
• Practices with CFP^CM 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.

Ans: Yes, currently CFP Certification is offered and recognized in over 24 countries. FPSB India is one of the Affiliates of FPSB, Denver, USA.

Ans: In order to enroll for the CFP^CM 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 PLANNER^CM or CFP^CM marks only after he/she has acquired a minimum qualification of HSC (Class 12^th). 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.

• 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:

1. 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
2. Commissions from investment or insurance companies for product sold as the plan is implemented
3. A combination of fees and commissions
4. Salary for those employed by financial organizations or other institutions

Ans: There are 6 modules in CFP^CM, 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

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

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 CFP^CM 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 CFP^CM Certification Program to practice Financial Planning in its true comprehensive spirit.

Ans: A candidate is given maximum 7 years to complete the CFP^CM Certification Education Program course from the date of the first module registration.

In order to enable eligible professionals (both in terms of education as well as experience) to acquire the CFP^CM 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".

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.

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The following are 2 requirements for renewing the CFP^CM 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 CFP^CM Certificant. Continuing Education (CE) plays a vital role to maintain and enhance the professional competence of the CFP^CM professional in a dynamic industry. FPSB India has made Continuing Education one of the key requirements for continued use of FPSB India's CFP^CM marks. B) Renewal Fee: CFP^CM 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.

Ans: The format of CFP^CM examination conducted by FPSB India 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: The exams are conducted in English only.

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.

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Ans: Yes, ICFP is an authorized education partner of FPSB to deliver the CFP^CM 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 CFP^CM Certified Faculties.

Ans: There are various costs associated with the CFP^CM 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
• CFP^CM 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.