Career as a Certified Financial Planner

CFP professionals are experts in financial planning, mapping client expectations, and regulatory compliance. | Photo credit: Freepik

IIn India, the demand for qualified financial planners is on the rise. With growing awareness about financial literacy and the need for systematic financial planning for both individuals and businesses, the Certified Financial Planner (CFP) certification is highly relevant. According to the Value of Financial Planning Report 2023, CFP professionals not only help people navigate the complexities of financial planning but also help them develop a plan that best suits their financial aspirations and goals. For students in India aspiring to build a rewarding career in the financial sector, earning the Certified Financial Planner (CFP) certification increases their employability quotient in the global financial planning market.

What is CFP?

The Certified Financial Planner (CFP) designation is a globally recognized mark of excellence in financial planning and represents a high level of competence and ethical practice. The certification is recognized in over 27 countries, including India, Canada, the United States, the United Kingdom, and Australia. These professionals provide specialized services including investment planning, insurance, retirement planning, tax planning, and estate planning. To earn this certification, candidates must meet rigorous requirements for specialized education, examination, relevant work experience, and adhere to a strict code of ethics.

Anyone who has passed the Class 12 exam of a recognized board and has achieved a minimum score of 50% can apply for this certification. They will have to pass three exams: Investment Planning, Retirement and Tax Planning, and Risk and Estate Planning. They will then take the Integrated Financial Planning certification. After that, they will be eligible to sit for the CFP final exam.

Career Options

Financial advisors, wealth managers, insurance consultants, investment planners, estate planners, and more, CFP professionals can pursue many career paths, both in the service industry and as entrepreneurs. Potential employers include banks, financial institutions, consulting firms, and corporate finance departments. In recent times, CFPs have been following their passions and exploring unconventional career options such as financial journalism, personal finance influencers, and more.

The comprehensive CFP certification program and subsequent professional experience ensure that CFP professionals are competent in financial planning, mapping client expectations, and regulatory compliance. Certification opens the door to numerous networking opportunities. CFP professionals can connect with peers, mentors, and industry leaders through professional organizations and events, facilitating continued learning and professional growth. Additionally, ongoing training and support ensure that CFP holders stay informed about industry trends and best practices.

The author is the CEO of Financial Planning Standards Board (FPSB) India.