CFP
Know latest & updated CFP (Certified Financial Planner) syllabus branch wise along with weightage in exams.You'll get latest researched information on CFP (Certified Financial Planner) syllabus at
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What is CFP?
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CFP Fees
Fee Details: Challenge Status Pathway
CFP syllabus and topics
CFP Job Role
CFP or Certified Financial Planner is a certification given by the Financial Planning Standards Board (FPSB) to individuals who wish to take up financial planning as a profession. The CFP is recognized internationally and considered the best for financial planning training, education and ethics to practice. The FPSB defines financial planning as a “process of developing strategies to help people manage their financial affairs to meet life goals.” It includes analyzing the client’s financial status, developing a financial plan for the client and implementing it for the client’s benefit.
A Certified Financial Planner can find several career opportunities in financial advisory services as well as in the finance sector. A financial planner can offer services in the capacity of a consultant or represent his/her organization for offering financial planning services to individuals and organisations.
To earn the CFP certification, professionals must fulfil certain eligibility criteria and complete the 6-module CFP Certification Education Programme.
CFP Eligibility CriteriaOne can earn the CFP certification under two modes – Regular Pathway and Challenge Status Pathway. Given below is the CFP eligibility criteria of both modes.
Regular Pathway Eligibility:
The candidate must have passed class 12th and should have cleared the five exams covering all six modules of the certification programme to be certified as a CFP by the FPSB.
Challenge Status Pathway Eligibility:
Candidate who have cleared CA/Intermediate level, CFA, ICWA, CAIIB, CS, LLB, PhD, MPhil, PG, Licentiate/Associate/ Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service Examinations by UPSC can apply through Challenge Status Pathway. In this mode, the candidates are required to clear only the fifth exam (Advanced Financial Planning) to earn the certification.
CFP ExamsThe CFP certification programme includes five exams for six modules. There is no separate exam for the first module. Its weightage is added to the rest five modules (20% each). The six modules are listed below:
| Module 1 |
Introduction To Financial Planning |
| Module 2 |
Risk Analysis & Insurance Planning |
| Module 3 |
Retirement Planning & Employee Benefits |
| Module 4 |
Investment Planning |
| Module 5 |
Tax Planning & Estate Planning |
| Module 6 |
Advanced Financial Planning |
CFP fee structure is different for Regular Pathway and Challenge Status Pathway. Take a look at registration, exam and certification fees of both:
Fee Structure: Regular Pathway| Description |
Fees |
|---|---|
| Student Registration Fees with FPSB India |
INR 16, 385 (valid for one year) |
| Exam Fees (Paper 1-4) |
INR 4,130 per exam per attempt |
| Exam Fees (Paper 5) |
INR 8,260 per attempt |
| CFPCM Certification Fees |
INR 7,080 (renewed annually) |
| Mede of enrollment |
Fees |
Description |
|---|---|---|
| FPSB India (Direct) |
INR 29,955 |
Registration fees (valid for one year), certification fees and administration & processing fees. |
| Through Charter Members of FPSB India |
INR 15,795 |
Registration fees (valid for one year), initial CFP certification fees, administration and processing fees. |
The syllabus of FPSB’s financial planning programme includes eight topics that cover all the aspects, right from the fundamentals of the programme to the application of skills in the real world. Take a look at the CFP syllabus below:
| CFP certification programme components |
Details |
|---|---|
| 1.Financial Planning Principles, Process and Skills |
Financial planning process |
| Financial planning practice and ethics |
|
| Professional Skills |
|
| Regulatory, economic and political environments that affect personal financial planning |
|
| Law and compliance |
|
| Time value of money |
|
| Client characteristics |
|
| Client risk profile |
|
| Client engagement and communications |
|
| Critical thinking |
|
| 2. Financial Management |
Principles of financial management |
| Personal and small business balance sheet (net worth statement) |
|
| Use and non-use assets |
|
| Cash flow statement |
|
| Budget preparation and management |
|
| Savings analysis and strategy |
|
| Emergency fund |
|
| Credit and debt management |
|
| Financial ratio analysis |
|
| Specific purpose planning |
|
| 3. Tax Principles and Optimization |
Taxation principles |
| Tax planning objectives |
|
| Tax planning principles |
|
| Tax planning law and policy |
|
| Tax analysis and calculations |
|
| Tax planning strategies |
|
| Tax planning for asset location |
|
| 4. Investment Planning / Asset Management |
Investment principles |
| Investment objectives, constraints, capacity and suitability |
|
| Investment time horizon |
|
| Behavioral finance |
|
| Asset classes |
|
| Investment theory |
|
| Performance measurement |
|
| Asset allocation and performance |
|
| Investment products – evaluation, selection and monitoring |
|
| 5. Risk Management and Insurance Planning |
Risk management principles |
| Insurance planning objectives |
|
| Analysis and evaluation of risk exposures |
|
| Risk strategies |
|
| Risk management products |
|
| Insurance law and claims process |
|
| Product, company and adviser selection and due diligence |
|
| 6. Retirement Planning |
Retirement principles |
| Retirement objectives |
|
| Retirement needs analysis and forecasts |
|
| Potential sources of retirement income |
|
| Retirement income and withdrawal projections and strategies |
|
| Retirement planning and funding products |
|
| 7. Estate Planning and Wealth transfer |
Estate planning principles |
| Estate planning objectives |
|
| Legal related issues |
|
| Asset ownership and its implications |
|
| Estate planning documents |
|
| Succession planning |
|
| Special family situation |
|
| Projected financial situation at death |
|
| Estate planning strategies |
|
| Philanthropy and charitable giving |
|
| Management in the event of incapacity (i.e., living estate planning) |
|
| 8. Integrated Financial Planning |
Client engagement, communication, and financial planning process |
| Collection and data |
|
| Attitudes, goals and objectives |
|
| Issues and problems |
|
| Analysis |
|
| Strategies |
|
| Synthesis and recommendations |
|
| Implementation |
|
| Periodic review |
The job role of a Certified Financial Planner includes essentially four tasks.
1. Identifying the client: Interviewing individuals or companies to understand their financial goals, the purpose of investment and related concerns.
2. Assessing the client’s financial status: Analyzing the client’s area of income, flow of income, assets, debts and problem areas. Foreseeing the future to the basis of historical and present status.
3. Making a financial plan for the client: After analyzing the status of the client’s financial goals and status, the CFP makes an investment plan for the client.
4. Implementing the plan and reviewing it periodically: If the plan is approved by the client, the CFP implements the plan and reviews it periodically to ensure that the client receives maximum benefit.
CFP SalaryThe average salary of a certified financial planner is INR 3.5 lakh per year in India. There is a lot of scope for CFP’s to earn over and above the fixed salary in the form of bonus (INR 50,000 in average), profit sharing (INR 22,000 in average) or commission (INR 75,000 in average).
*Salary data has been obtained from Payscale.com
CFP FAQsQ: What are the benefits of CFP certification?
A: Certified Financial Planner is the most desired and respected global certification for those seeking to demonstrate their commitment to competent and ethical financial planning practice. Candidates having CFP certification get enhanced career and employment opportunities with financial services companies. They can work in banks, distribution houses, insurance companies, equity brokerage, and financial planning firms.Q: What are the subjects included in CFP certification?
A: In CFP certification courses, candidates are taught regarding investment planning, retirement and tax planning, risk and estate planning and financial planning.Q: How do I get CFP certification?
A: Upon completing all four education courses and related exams, meeting CFA exam and experience requirements, individuals are recognised as a Certified Financial Planner.
Q: How can I apply for CFP certification?
A: Candidates need to follow the steps below to apply for CFP certification.- Candidate can apply for the initial CFP certification only after successfully clearing Exam 5 and having required work experience
- Having met the criteria, duly fill the CFP certification application form and upload the required documents as mentioned in the application form
- FPSB will verify the uploaded documents
- Once the documents are in order, a payment link will be sent to the candidate on their registered email id for payment of fees
- Once the candidate makes the payment and it is verified by FPSB, candidates will receive a digital copy of the CFP certificate on their registered email id
Q: If I already took the exam and did not pass, will I need to retake the education coursework?
A: No, if you have already taken the exam, your coursework will continue to be valid.
Q: Can I register and schedule my CFP exam before completing the coursework requirement?
A: Yes. You can register for the CFP exam prior to completing your coursework.
Q: Can I postpone or withdraw from my scheduled CFP exam?
A: You may postpone CFP exam only once per registration. Your next exam appointment must be rescheduled by the next two exam testing windows.
Q: Can I change my CFP test date, time or location in the same exam window?
A: You may reschedule your CFP exam date, test site location and, in some cases, test start time, within the testing window when you are scheduled.Q: How do I receive my CFP result?
A: You will receive a preliminary pass/fail report after you complete CFP exam. Official exam results are released approximately four weeks after the exam window closes.Q: Is it possible to transfer my CFP certification to a different territory?
A: Yes, when a CFP professional wants to practice financial planning using the CFP marks in more than one territory, they must become certified to use the marks in each territory where they want to practice.Q: In which mode CFP exam is conducted?
A: CFP exam is offered online only. Once a course is completed and passed, students have an opportunity to register for an online certification exam.
| Course Level | Degree |
| Course Type | entry |
| Course Entry Level | PG |
| Duration | 2 years |
| Total Seats | 0 |
| Min Fees | 440000 |
| Max Fees | 440000 |
| Paid Course | Not Available |
