How do I become a Certified Finance Planner (CFP) in India?

Financial Planning and Standards Board (FPSB) India awards CFP certification in India. To get the certificate one has to clear the examinations set by FPSB India. CFP certification has 6 modules;

  • Introduction to financial planning
  • Risk analysis and insurance planning
  • Retirement planning
  • Investment planning
  • Tax and estate planning
  • Advanced financial planning

There is no examination for the first module but the content of the same is tested in the rest of modules. There are 2 different pathways of pursuing CFP certification.

Regular pathway:

Any individual with 10+2 qualification can start pursuing the course. Since there is no examination for the first module, the rest of the four modules need to be cleared before appearing for last module examination i.e., advanced financial planning.

  • The exams are conducted online in NSE-IT centers across India
  • All the exams are multiple choice questions based
  • There is no negative marking for the wrong answers
  • 50% is the passing mark

Once the final exam is cleared, a candidate can apply for CFP charter membership. An individual should have 3 years of experience in financial services industry to get the membership or to obtain the certification.

Challenge Status Pathway:

This program is meant for people with professional work experience. Under this pathway, a candidate is exempted from writing the exam for the first four papers and can appear for last module exam directly to complete the certification. For an individual to qualify for challenge status program, the following criteria should be fulfilled;

  • 2 years full time post graduation degree or professional qualifications prescribed by FPSB India
  • 3 years of work experience in financial services industry or 5 years of work experience in other industry

After successful completion of the examination, one has to fill out the application for obtaining the CFP certification. The certificate is valid for 1 year and the candidate should obtain 15 Continuing Education (CE) points to renew the certification. CE points are obtained in the form of attending the seminars, answering the questionnaire in financial planning magazine, teaching etc.

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