Certified Financial Planner is a Certification course pursued under the finance and accountancy studies which provide a specialized focus on financial planning along with investment planning across all sectors and domains. The course duration is of 1 year and the certification is offered by Financial PLaning Standard Board, a globally recognized standard board for financial planning. The course consists of subjects such as Financial Planning, Investment Planning, Various Types of Taxation, etc which provides greater depth on Financial planning and other aspects of planning. No company can run without a proper financial planning as it may lead to massive loss if the plan isn't constructed with proper considerations and risk factors associated along with proper contingencies. Their role is of utmost importance in every domain being an investment, banking, production, etc, as they take care of all aspects of financial planning after analyzing major threats both internally and economically that is aimed to increase marketability and revenue generation with minimized loss.
The minimum eligibility to pursue this course is 50% in 10+2 exams from a recognized board with finance and accountancy as a mandatory subject and 50% in undergraduate courses from a recognized university. Chartered Accountants who have gained levels of certification are also eligible for the CFP course. Job opportunities for the graduates of this course are available in abundance in both the private sector and the public sector owing to the fact that financial planning is very much important in any sector and domain and these graduates are skilled to implement a variety of plans and alternates so as to ensure that the entity gets positive revenue with minimal loss. Owing to their higher job role and difficulties, they're often offered lucrative figures as salary.
CFP course fees may vary from universities to universities or colleges based on their standards. Often, the course fee varies upon the materials, lecture timings and other facilities provided by the university towards course completion The average course fee structure ranges from INR 50K- 1 L per annum.
On completion of this course, the graduates are entitled to receive various job opportunities in both the public sectors such as Reserve Bank of India,State Bank of India, etc and many private banking and production organizations and conglomerates. CFP salary package varies from specialized field one is working. The average salary for CFP graduates ranges from INR 3L -10L per annum. Skills and experience gained in the industry will also be a factor for high pay as their job role is the most sought and the most important role in any revenue-generating organization.
|Full Form||Certified Financial Planner|
|Duration||Course Duration of Certified Financial Planner [CFP] is 1 Years.|
|Age||No age limit|
|Minimum Percentage||50% in Under Graduation|
|Subjects Required||Financial Planning, Understanding of Taxation and accounts etc|
|Average Fees Incurred||50K - 1L Per Annum|
|Similar Options of Study||B.Com (Accounting and Finance), BA Accountancy, Chartered Accountant Certifications|
|Average Salary Offered||INR 3 L to 10 L per annum|
|Employment Roles||Financial Advisor, Financial Planner, Investment planner, etc|
|Placement Opportunities||ICICI, Public service commission, Railways, etc|
CFP is a certification course which provides greater focus on financial planning and Investment Planning . The duration of the course is of one year which enables the graduates to enhance their knowledge on the key areas of financial planning. The course certification provided by the Financial Planning standard board who also governs the examination process. Their central role is to ensure the safe, timely and well-resourced financial and budget planning weighing up all the risk factors bringing up several developments and changes in financial allocations.
It is not mandatory that the graduate should have greater technical knowledge of statistics and accountancy in order to pursue this course. The minimum eligibility for the course is 50% in 10+2 or undergraduate in any finance-related course or CA certifications from a recognized university. Finance and investment planning are one of the key areas in any organization and hence the certificate holders are bound to receive numerous job scopes
CFP equips the students to be fit for a job in the organization with relevant skills and knowledge in Financial Risk Analyzing, Investment planning, Insurance planning etc, which are major essentials for any company if they are willing to adopt sustainability.CFP syllabus includes accounting,Risk Analysis & Insurance Planning,Retirement Planning & Employees Benefits
, Tax Planning & Estate Planning, Communication & Soft skills, etc. Some of institutes providing CFP are:
This course isn’t restricted to only one form of learning. The CFP online courses are offered by many universities for graduates who are interested in CFP certifications and want to learn it via distance education methods.
The distance education methods will help the office going working people and graduates to take up this course in a convenient period of time and provide exams at the given date. FPSB is also offering several online programs under their specified schemes.
Certified Financial Planner (CFP Full form) is a certification course that facilitates the study of Financial Planning along with other aspects of finance such as risk analysis,insurance planning management, etc. Students from all the streams are eligible for CFP, given they have Financial Studies as their subject during 10+2. The minimum eligibility for this course is 50% in undergraduate study in either a relevant field or any field of study from a recognized university. Even CA examination students are eligible to obtain a CFP certification and should have a minimum of 3 years of experience in financial background.
Financial Planning is the most important domain in any sector. Students are taught to plan, implement and administer the annual financial plans with all considerations , which should include alternatives in case of any unmeasurable risk. The course equips them to chart plans for various domains such as investment, taxation, legal filings etc and also helps them to implement efficient methods of investments , which can amass a major turnover at crucial points.
CFP curriculum is such that the entire skills required for financial planning are covered. The curriculum consists of basic terminologies and concepts in the finance sector and then later shifts which makes the candidate ready to manage both efficiently. The Syllabus of CFP consists of the following subjects:
Financial Planning is one of the most demanded domains of management and will be never seeing a decline for years to come owing to the importance of financial planning in various sectors that determines companies' financial chartwork and strategies for one financial year. Owing to its greater demand and its importance, graduates are assured of higher earning potential as years pass by. CFP is certified international certification and the graduates are bound to receive lucrative job scopes across the globe. Owing to their greater importance in any production based company and other service-based companies, they’re often offered lucrative pay scales.
CFP is one of the most demanding career choices among the candidates who are willing to earn a good salary. During this course the students are trained for special skills so that they can occupy major roles in any organization.
Financial planning can be done with many major undergrad degrees but none can match the value of the CFP certificate. The CFP certification embossed you as a global level certified financial planner and you are eligible to be hired by many MNCs globally. Financial Planning is one of the basic necessities for any finance-based /service-based company, as it lays down a chart of policies the company will be adopted with regards to all fields such as taxation, insurance policies, investments, etc which should provide them with the greater turnout for the financial year. The financial planner should be present during all stages of the company and he/she has to propel the companies in each and every risk they face through. This course equips the students with the necessary skills required in charting an efficient financial plan for various domains .Its curriculum is designed in such a way which helps the students to become reflective individuals, empowered to meet the challenges of ambition and a wide ranging career.
As financial planning is a prime and very important job role in any company, the job scopes are very high for the graduates of this course. Some of the CFP scopes include:
The graduates of this course will often be offered lucrative pay scales due to their importance in the organization and their value of certification. Adding to that the CFP course in India is one of the most sought course owing to the increase in a number of industries in India, that can offer them immediate jobs with lucrative pay scales.
Some of the essential course preparation tips for a candidate who wants to pursue CFP Management are:
Get to know of the Syllabus: The syllabus of the course is one of the essential factors which a student should focus upon as this helps a student to focus during the time of the examination.
Make a Plan: Make a course plan that can help the student to plan according to the study of the work which enables them to keep both balanced.
Connect With Fellow Students and Experts: Start connecting with peers and experts who can help you with providing a clear idea of the course along with scope and knowledge exchange that might help you to excel in this course.
CFP is a one year course, which focuses on 6 pillars of financial management. The modules thought for this course are
|1||Introduction to Financial Planning|
|2||Risk Analysis & Insurance Planning|
|3||Retirement Planning and Employee Benefits|
|5||Tax and Estate Planning|
|6||Advanced Financial Planning|
The course fees for CFP courses may vary based on the University/college that is offering the course. The average course fees may range from INR 50K to 1L per annum depending upon the facilities and infrastructure offered by the college/university.
The required eligibility criteria for admission to CFP is that the candidate must have completed a Graduation degree from any recognized university with a minimum of 50% marks. For the advanced level, the candidate must be a CA certificate holder with 3 years of experience in the finance field.
The CFP admission process varies from university to university based on their standard and curriculum. The admissions can be done both online and offline methods. The candidates are required to register themselves on the official website of the college or provide the filled hard copy of the registration form within the deadline date.
Most institutes offering the course admit students based on performance in a relevant entrance test. Most of the institutes consider the scores and ranks obtained in the entrance level examination conducted by the university based on which admission process is initiated.
The candidates will be shortlisted based on scores obtained in entrance exams and their cumulative grade point acquired in an undergraduate degree and a rank list will be published based on it, upon which the students will be called for a counselling session.
Certain Private colleges have a direct admission method where the students are called for counseling sessions based on their application form and undergraduate scores along with skills possessed.
It is always essential to remember that none of the companies can survive in a highly competitive market without proper financial planning. This is done with the utmost care and only graduates of this course are skillful enough to manage it with utmost care. Hence, the job scopes for the graduates of this course are generally higher and will be a walk in and take method.
Job Opportunities are available in plenty for a graduate in CFP in both the public sector as well as the private sector. The Job roles offered will be of the highest level of employment owing to their knowledge and credibility that makes them qualified to handle job roles of higher magnitude. The most common roles the graduates work as are:
CFP salary may vary based on the experience gained in the field and based on the skill set possessed. On average, graduates are entitled to receive INR 3L - 10 LPA in the initial stages and are subject to hikes based on the experience gained.
|Sl. No.||Name of the College|
|1||International College of Financial Planning, Delhi|
|2||Indian Institute of Financial Planning, Delhi|
|3||IMS Proschool, Bengaluru|
|4||IMS Proschool, Chennai|
|5||The CFP Aspirant Club India, Mumbai|