The Four-Step Guide to Become a Certified Financial Planner

Financial planners are, essentially, investment gurus involved in making the most out of your investments. Their insights and profound experience in the domain can help you tide over the most precarious financial situations. These planners have a profound legacy of making sound investment decisions for millions of individuals.

With the growth of BFSI sector and associated services in India, the need for these individuals has risen steeply. India needs around 50,000 certified financial planners (CFP) to take care of the investment needs of its large populace. However, as of December 2013, there are only 1843 CFPs in the country.

Aspirants who plan to join this financial expert’s league can now secure Certified Financial Planner Certification issued by Financial Planning Standards Board (FPSB) easily by following these four simple steps:

1. Decide the Course Type
   FPSB has announced that the course can be completed in two ways: CFP Regular Pathway or CFP Challenge Status Pathway. Only a matriculated person can enrol for the Regular Pathway, while the Challenge Status Pathway is reserved for professionals holding CA/CFA (US), LLB, PHD, M.Phil, or other degrees mentioned in Challenge Status Qualification.
2. Enroll for the Course
   Registration for the course can be done through the FPSB website, and in order to give the exam, registration needs to be done through the NSE website. After registering on the NSE website, candidate receives an NCFM number that is essential for giving the online examination.
3. Choose Mode of Study
   There are overall four modules in the CFP course that one needs to pass before proceeding to the final fifth module. A candidate can study for the modules through by self-study or take professional lessons at one of the recommended training providers.
4. Give the Test
   A candidate needs to give four tests before proceeding to the final fifth module. The test is to be taken at any of the 30 NSE centres. The candidate also needs to score more than 60% in each individual module as well as gather relevant experience in the finance industry before getting awarded with CFP certification.

This is the four-step guide to acquire CFP certification in India.