CFP Admission 2023 are done based on merit. There are no entrance exams conducted for admission in the CFP course. It is a regular certificate course that can be completed in 6-8 months to 2-3 years.
CFP course is a certification issued by the Financial Planning Standards Board of India. The certification is given to the candidate who completes the CFP course and passes the exam conducted by the FPSB. The CFP course is open to everyone who has completed the 12th standard. Those candidates who are doing graduation, post-graduation, or doctorate can also apply.
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CFP Admissions 2023: Registration Date
The CFP is a certificate course for which various institutions provide training. There are no entrance exams to enroll into these training colleges. Candidates can go to their official website and register for the course.
Candidates who have registered up until May 2021, be it in Regular of the Challenge status pathway will have their registration valid till March 2023. After that, those who haven’t cleared the exam will have to register again for the new course. Here is a list of top CFP Institutions along with their modes of study and registration dates.
| Name of the Institution | Mode of Study |
|---|---|
| IMS preschool | Classroom, Live online and Recorded sessions |
| International Centre of Financial Planning - Delhi | Online classes and Recorded sessions |
| International Centre of Financial Planning - Mumbai | Online classes and Recorded sessions |
| International Centre of Financial Planning - Mysore | Online classes and Recorded sessions |
| Icici direct Centre for Financial Planning | e-class |
| International Institute of Research and Wealth Management (IIRWM) | Classroom, recorded sessions |
CFP Admissions 2023: Fee Structure
Below is the distributed fees structure to apply for the CFP Exam through FPSB India.
| Step Undertaken | Fee |
|---|---|
| Student Registration Fees with FPSB India | INR 12,600 (valid for one year) |
| Materials for Tracks (1-3) | INR 11,400 (INR 3,800 per track) |
| Exam fees for Tracks (1-3) | INR 13,800 (INR 4,600 per track) |
| Material for Capstone | INR 11,400 |
| Exam fees for Capstone | INR 6,900 |
| Total | INR 56,100 |
CFP Admission Process 2023
Under the new course, there is only one mode for everyone who applies i.e. the Regular pathway. Here are the processes for applying to CFP.
- First of all, the candidate must get an NCFM ID by registering with the NSE Academy.
- Register with FPSB by filling ‘Students Registration Form’ and paying the registration fees.
- After document verification, FPSB activates the student’s account and NSE portal and sends confirmation of registration.
- After registration, the candidate can enroll in any institute or college given above to study the subjects which will come in the certification tests.
- Once the course is completed, the candidate can book a day as per the availability of seats in the exam center.
- You must keep in mind that, once the student's account is activated, it is valid for a year, after which you have to re-register yourself in order to take the test.
CFP Admission Guide 2023
For the new course, the study materials will be available on the FPSB website. The whole program consists of 4 TRACKS and the CAPSTONE. Each module covers a specific area of Financial Planning and has a total of 9 Modules. Given below are the details of the modules.
| Module Number | Subject of study |
|---|---|
| Module 1 | Personal Financial Management |
| Module 2 | Investment Planning |
| Module 3 | Regulatory Environment |
| Module 4 | Risk & Insurance Planning |
| Module 5 | Retirement Planning |
| Module 6 | Tax planning & optimization |
| Module 7 | Estate & wealth planning |
| Module 8 | Financial planning process |
| Module 9 | Integrated financial planning |
Chapter End Test
Each of the modules in the CFP course will have some 7 - 8 chapters each and at the end of each chapter there will be a test related to that called the CHAPTER END TEST. The candidate should clear these tests with at least a 60% score.
Module Test
After each module, there will be a test on that, called the MODULE TEST. You will have to clear those tests with a minimum 70% score.
Track
After the candidate clears all the CHAPTER END TESTS and the MODULE TESTS with the required score he/she will be eligible for the TRACK test. And after it is cleared the candidate will be given the respective certification for the TRACK.
CAPSTONE
After the candidate passes all the Track Exam he/she will appear for the final Capstone. Only after successfully completing the Capstone exam, one can attend the Ethics module.
Ethics Module
The Ethics module has to be compulsorily attended through a video lecture of 5 hours. And then the candidate has to clear an online quiz attached with it. Even if you clear all the TRACKS and the CAPSTONE, the certification will only occur once you complete the Ethics Module.
CFP Admission Tips 2023
Listed below are the most important things to keep in mind when you select the college and appear for the CFP exam. However, as per the new course system, there are three ways to study for the TRACK exams viz self-study, study through AEP and study waiver.
- Self-study - Candidates must pass the entrance exam conducted by the FPSB for self study mode.
- Study through AEP - It can be pursued through any of the Public and private institutes which have the 3-6 month courses in CFP certification.
- Study Waiver - This is for those who have the specified qualification. They will have to pass an entrance exam with at least 70% (in two attempts). They wouldn’t have to buy any study materials from FPSB and needn’t pass the MODULE tests.
- Select the college with the greatest track record - As you study for the CFP Exam, it is important to select a college or institution with the highest number of CFP holders and how updated they are with the course structure.
- Select the college which provides Live Classes - Many institutions have recorded subject modules to download, and in the long run they might not be sufficient to understand the subject. It is better to select a college which has Live-online classes where you can clear your doubts directly.
- Select the most comfortable TRACK - In the new method of the course, you can clear each TRACK for CFP separately after you join a college. So first choose the TRACK whose subject matter you are most comfortable with.
- Practice regularly - Even if you have enrolled in a college doing your course for the CFP Test, make sure you do practice questions regularly. Quick strategy and time management are crucial for the exam.
CFP Admission 2023: FAQs
Ques. Which is the easier option CFP or CA?
Ans. CFP is easy compared to CA. It can be completed within 1 year while you have to devote 3 - 5 years to become a CA. The course structure of CFP is also lighter than that of CA.
Ques. Is the CFP from India valid in another country?
Ans. Yes, CFP from FPSB is valid in 26 countries. However, in some countries, you might have to get an additional course on Taxation due to differences in rules in every country.
Ques. How much can a fresher earn with CFP in India?
Ans. The earnings for a fresher with CFP will heavily depend upon factors such as location, domain knowledge, and communication skills. Even without any additional qualification or experience, if he/she is appointed to a reputable firm, the pay should be anywhere between INR 10,000 - 30,000 per month.
Ques. Can a student do the CFP course alongside his/her graduation degree?
Ans. Yes, you can apply for CFP, a study using e-learning modules, and appear for the exam while you do your graduation, post-graduation, or any other degree after your plus 2. You can also do it while you are employed with a job to further grow your career prospects.
Ques. Is the CFP approved by SEBI and PFRDA?
Ans. FPSB, the organization that authorizes the CFP has no direct relationship with the Securities and Exchange Board of India (SEBI) or the Pension Fund Regulatory & Development Authority (PFRDA). But SEBI & PFRDA recognize CFP as one of the credible education certifications in financial planning.
Ques. Is a Certified Financial Planner different from an Investment Advisor?
Ans. Yes, a CFP can work in different sectors of financial planning, for example - Retirement planning, tax planning, risk management and investment planning etc. Whereas an Investment advisor can give advice only regarding the investments the client has to make.
Ques. Is the CFP course worth doing before an MBA?
Ans. Yes, CFP is a great option to do before an MBA. If you have CFP then doing an MBA in Finance will add great value in your profession. Many finance companies prefer a person with CFP along with a MBA in Finance.
Ques. Is the CFP course worth doing in the current situation of the economy?
Ans. Yes, it is worth it as the world economy is still struggling to pace up after the pandemic, the firms in the large and medium-sized Finance and Investment sector are in need of new and innovative plans to set their course for the future. And they are looking out for creative people with a course like CFP to advise them in these volatile times.
Ques. Does a CFP certification help in career advancement if a person is already employed in the sector?
Ans. A CFP definitely helps in career advancement. According to global research done by FPSB, professionals with CFP have advanced more in their careers in the Finance sector than their peers without it. It is also very helpful to people who want to set up their own practice as independent financial planners.
Ques. Does working as an accountant for a local shop count as experience required for the AFP course?
Ans. Yes, it does count as experience but in the non-financial services option, so it must be of at least 5 years and not 3 years which is required when you work in the financial service sector. But to do the course one does not need any experience at all. He/she can start with an educational partner and get the experience during or after the test.
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