Certified Financial Planner (CFP)
Certified Financial Planners are professionals dedicated to providing financial planning services for individuals and businesses. Their responsibilities encompass analyzing financial statuses, identifying goals, and crafting personalized financial plans to achieve those objectives.
Eligibility Criteria and Educational Pre-requisites
Candidates aspiring to be CFPs must hold a bachelor’s degree or equivalent education. Additionally, they need a minimum of three years of relevant work experience in the financial planning industry to meet the eligibility criteria for the certification program. Becoming a CFP entails completing a certification program offered by the Financial Planning Standards Board India (FPSB India). The program involves a series of five exams covering crucial topics such as financial planning skills, financial planning principles, regulatory and ethical considerations, retirement planning, and investment planning.
Career Opportunities
The diverse roles for CFPs include financial advisor, mutual fund manager, portfolio manager, wealth manager, and client service associate. Common job titles include investment advisor, financial planner, and financial analyst. CFPs play a pivotal role in gathering comprehensive information about their clients’ financial status, conducting thorough analyses of strengths and weaknesses, and formulating, implementing, and monitoring personalized financial plans.
Salary Prospects
In the Indian job market, the average salary for CFPs ranges from ₹2 lakhs per annum to ₹13 lakhs per annum, with an average annual salary typically around ₹4-5 lakhs.
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