CERTIFIED FINANCIAL PLANNERcm

About CFPCM
  • CERTIFIED FINANCIAL PLANNERCM (CFPCM) is a certification mark for Financial Planners conferred by the Financial Planning Standards Board India.
  • CFPCM is the highest credential offered in Financial Planning Globally.
  • Education is a fundamental requirement for achieving CFPCM Certification
  • CFPCM certification education requirements ensures the CFPCM professionals are familiar with broad knowledge, principles and theories needed to prepare for the professional practice of personal financial planning.
  • The CFPCM examinations are designated to assess your ability to apply Financial Planning knowledge to real life financial situations.
  • A Financial Planner is a professional who assesses the health of individual's personal finances, life goals and objectives.
  • CFPCM is a Professional expert who helps individuals achieves financial freedom by helping them reach their life goals through proper management of their personal finance.
  • The CERTIFIED FINANCIAL PLANNERCM designation is most widely recognized, prestigious and internationally accepted Financial Planning qualification. It is a mark of excellence granted to individuals who meet the stringent standards of education, examination, experience and ethics.
  • Financial Planning Standards Board is a Professional Membership & Certification organization part of leading Global Confederation established by prominent financial service corporations with an objective to professionalize the concept of Financial Planning in India. It proactively guides the development and promotion of standards for Financial Planning professionals.
  • FPSB India closely works with all the stakeholders viz. the Government, the Regulators, the Industries/Associations, the Corporate, the Media and General Public to achieve its objectives. FPSB India offers the highest financial planning credentials called the CERTIFIED FINANCIAL PLANNERCM
  • FPSB India is affiliated to the Financial Planning Standard Board (FPSB) based in Denver, USA. The Indian affiliate, FPSB India administers the internationally recognized CERTIFIED FINANCIAL PLANNERCM certification process.
  • The creation of FPSB India represents commitment to the emergence of Financial Planning as a respected profession in India and will strengthen the board's ability to educate the public about the Financial Planning process and about the professionalism of Financial Planners who have committed to competent and ethical behavior in India.
  • Regular Pathway: A candidate must be HSC/ Matriculation/ 12 th pass
  • Challenge Status Pathway: A candidate must be a CA / Intermediate level, CFA (US), ICWA, CAIIB, CS, LLB, PhD, M.Phil, PG, Licentiate/Associate/ Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service Examinations by UPSC.
Course Content

Embedded in Exam 1/2/3/4 to the extent of 20% of Total Marks (150) of respective exams, i.e. 30 marks

  • Establish and Define the Relationship with the Client
  • Collect Client’s Information
  • Analyze Client’s Financial Status, Risk Profile and Determine Financial Goals
  • Develop Financial Planning Recommendations and Present them to the Client
  • Implement Client’s Financial Planning Recommendations
  • Monitor and Review the Client’s Situation
  • Brief Overview to Financial Markets
  • Debt Management Personal Financial Statement Analysis
  • Forms of Business Ownership/ Entity Relationships
  • Concepts in Behavioral Finance
  • Behavioral Finance- Investor Psychology
  • Economic Environment Analysis
  • Calculation of Returns
  • Time Value of Money
  • Loan Calculations
  • Total assets, Net Worth and Financial Ratios
  • The Code of Ethics and Professional Responsibility
  • Ethical and Professional Considerations in Financial Planning
  • Regulation Relating to Individuals
  • Function, Purpose and Regulation of Financial Institutions
  • Other Relevant Regulation

Exam 1 Topic List to the extent of 80% of Total Marks (150) i.e. 120 marks (30 marks reserved for the Module I – Introduction to Financial Planning)

  • Introduction to Insurance
  • Basic Concepts of Insurance
  • Insurance and Risk
  • Fundamental Principles of Insurance
  • Risk Management
  • The Insurance Contract
  • Important Terms in Insurance Contract
  • Insurance Pricing and Premium Calculation
  • Analysis and Selection of Insurance Products and its Provider
  • Legal Liability
  • Assessment and Identification of Risk Exposure
  • Analysis of Life Insurance Needs
  • Types of Life Insurance Policies
  • Calculations of Claim Amount and Other Benefits
  • Other Provisions of Life Insurance Contract
  • Health Insurance and Accident Insurance
  • Personal Disability Insurance
  • Property and Liability Insurance
  • Other Business Specific Insurance
  • Regulations Relating Insurance
  • Other Regulatory Aspects of Insurance and Agency Law

Exam 2 Topic List to the extent of 80% of Total Marks (150) i.e. 120 marks (30 marks reserved for the Module I – Introduction to Financial Planning)

  • Employee Benefits
  • Superannuation Benefits and Schemes
  • Defined Benefit Plans and Limitation
  • Defined Contribution Plans
  • Introduction to Retirement Planning
  • Analysis of Client’s Life Cycle
  • Factors Considered in Retirement Planning
  • Analysis of Client’s Retirement Needs
  • Wealth Creation- Factors and Principles
  • Retirement Planning Process
  • Pre-retirement Strategies
  • Post-retirement Strategies
  • Public Provident Fund
  • New Pension System (NPS)
  • Pension Plans from Mutual Funds and Insurance Companies
  • Reverse Mortgage to Supplement Post-retirement Expenses
  • Pension Sector Reforms
  • Regulatory Framework of Retirement Solutions

Exam 3 Topic List to the extent of 80% of Total Marks (150) i.e. 120 marks (30 marks reserved for the Module I – Introduction to Financial Planning)

  • Fixed Income Instruments
  • Mutual Fund Products
  • Equity Market
  • Derivatives and Commodities
  • Foreign Exchange Market
  • Real Estate and other Investments
  • Types of Investment Risks
  • Product Profiling in terms of inherent Risk and Tenure
  • Risk Profiling of Investors
  • Asset Allocation- Financial Assets
  • Types of Asset Allocation Strategies
  • Investment Planning to achieve Financial Goals
  • Measuring Risk
  • Diversification Strategies
  • Analysis of Returns
  • Active Investment Strategies
  • Passive Investment Strategies
  • Investment Portfolio Management
  • Revision of Portfolio
  • Regulatory Oversight of Financial Products and Services
  • Other Entities Facilitating Market Play and Intermediation

Exam 4 Topic List to the extent of 80% of Total Marks (150) i.e. 120 marks (30 marks reserved for the Module I – Introduction to Financial Planning)

  • Features of Indian Tax System
  • Indian Direct Tax structure
  • Tax Compliance Matters
  • Residency Rules
  • Salary Income
  • Income from House Property
  • Income from Business or Profession
  • Capital Gains in Transfer of Capital Assets
  • Income from Residuary Sources and Tax Calculation Rules
  • Tax Characteristics of Business Forms
  • Tax Implications for Non-resident Indians (NRIs)
  • Tax Planning - Various Avenues and Techniques
  • Taxability of Various Financial Products
  • Taxation of Various Financial Transactions
  • Wealth Tax
  • Estate Planning Overview
  • Estate Planning Process
  • Methods of Estate Planning
  • Will
  • Powers of Attorney
  • Trust Structure for Efficient Transfer
  • Intra-Family Business and Property Transfer
  • Trusts - Characteristics & Regulation
  • Financial Planning environment
  • Financial situation analysis, basic risk profiling and factors in financial prudence
  • Insurance as a risk mitigation tool, its outreach, legal aspects and provisions
  • Risk assessment and basis of various risk covers
  • Insurance needs analysis, sufficiency and efficiency of coverage
  • Assessment of retirement needs and options at various life stages of a client
  • Accumulation and management of retirement corpus; factors influencing decisions
  • Understanding various products and their profile for goal based investing
  • Asset allocation, measurement of portfolio risk and returns
  • Investment strategies; goal-based portfolio construction, analysis, rebalancing and optimization
  • Tax incidence and relative tax efficiency; Understanding and execution of succession strategies
  • Tax structure of investment, portfolio, business forms, status, etc.
  • Tax liability of various income of clients, business income, investment income and capital gains, transaction deals
View CFP Complete Syllabus
Benefits
  • CFPCM is the world’s Highest Global Standard and accepted Financial Planning Certification.
  • CFPCM certification is recognized in 24 countries.
  • CFPCM Certification is promoted by top 50 financial companies in India like LIC, ICICI, HDFC, UTI, RELIANCE, BIRLA, RELIGARE, BARCLAYS, TATA, CITIBANK, HSBC, AMERICAN EXPRESS, KOTAK, SBI, STANDARD CHARTERED, DEUTSCHE BANK to name a few.
  • CFPCM mark is rated as the "Gold Standard" by "Wall Street Journal". Most Prestigious, Recognized and Respected by the financial community across the Globe.
  • CFPCM certification course is Industry Specific and Completely Job Oriented.
  • Great opportunities in the Financial Services Industry, Short Duration, Low in cost as compared to other professional degrees.
  • Rated as "One of the best Jobs" by U.S. News and World Report, 2012
  • Personal satisfaction of achieving the Financial Planning profession’s highest standard and met the global benchmark.
  • Pursuing CFPCM can widen the scope of individual and open opportunities across various sectors and provide multiple career opportunities
  • Insurance
  • Financial Planning
  • Accounting & Tax
  • Wealth Management
  • Investment Advisory Services
  • Mutual Funds
  • Stock Broking
  • Portfolio Management Services
  • Various other Financial Services
  • A CFPCM professional can also free lance & manage finances for his/her friends, relatives or clients, thus generating an additional earnings stream in the form of commissions, brokerage, incentives, advisory etc.
  • The estimated demand of financial planners is around 50,000 CFPCM professionals in Banking and Financial Services Industry in India. However, till September 2013, India has only 1794 CFPCM professionals. This makes CFPCM Certification to be amongst one of the most sought after certifications.
Source: www.fpsbindia.org
Source: www.fpsbindia.org
Levels Job profile Qualification/Experience Expected Pay (p.a)
Entry Trainees and executives, Banks and wealth managers, wealth managers and financial advisory firms Pursuing CFPCM certification program + graduate fresher. Rs. 2-4 lakhs
Middle Sales Managers, Relationship Managers, Wealth Managers, Financial Planners/Advisors, Investment /Insurance Advisors Pursuing CFPCM certification program with work experience of 1-2 years Rs. 4-8 lakhs
Senior Functional Heads, Business Heads/Regional Heads, Senior Planners/Advisors and Team Leaders Attained CFPCM certification with a 5-7 years work experience and other professional qualifications Above Rs. 10 lakhs

Course Entrance Duration Cost Passing%
MBA Yes 2 years after Graduation 5,00,000 Best Colleges need 95% + Marks in entrance
CA Yes 5 years 2,00,000 3% CA Final
CFPCM No 6 months anytime after 12th 60,000 47%
Training Mode
  • 150+ hrs Classroom Training by Experienced CFPCM Professionals.
  • Unlimited Doubt Solving Sessions.
  • Full Time Faculty Support.
  • Complete set of Books for all Modules (Work Book & Concept Book).
  • All Modules PPT.
  • Updated Case Studies & Reference Material.
  • Training by Practicing Financial Planners with special focus on designing Financial Plans exclusively for Final Module (Advance Financial Planning)
  • 100% Placement Assistance.
  • Soft Skills Training & Interview Etiquettes
  • Online Videos for all Modules (24x7)
  • Unlimited Online Mock Test
  • 24x7 Query Portal
  • 150+ hrs Live Video Training by Experienced CFPCM Professionals
  • Unlimited Doubt Solving Sessions.
  • Full Time Faculty Support.
  • Complete set of Books for all Modules (Work Book & Concept Book).
  • Updated Case Studies & Reference Material.
  • Training by Practicing Financial Planners with special focus on designing Financial Plans exclusively for Final Module (Advance Financial Planning)
  • Online Videos for all Modules (24*7)
  • Unlimited Online Mock Test
  • 24*7 Query Portal
  • All modules PPT
  • 100% Placement Assistance
  • Online Videos for all Modules (24x7)
  • 24x7 Query Portal
  • Unlimited Online Mock Test
  • Complete set of Books for all Modules (Work Book & Concept Book)
  • Updated Case Studies & Reference Material
  • All Modules PPT
  • 100% Placement Assistance
  • Complete set of Books for all Modules (Work Book & Concept Book)
  • Updated Case Studies & Reference Material
  • All Modules PPT
  • Unlimited Online Mock Test
  • 24x7 Query Portal
  • 100% Placement Assistance

1. Exams are computer based with multiple choice Questions
2. No negative marking

Module Name Exam Date Exam Location Duration of Exams Total Marks Passing(%)
IFP No Exam*
RAIP Daily (except Sundays & Public holidays) Pan India across 105 centres of NSE (online mode) 2 hours 150 50%
RPEB
IP
TPEP
AFP 4 hours 100 50%

* There is no specific exam for IFP, but all the other module exam questions will have 20% of the syllabus from the IFP module.
FAQ's

CERTIFIED FINANCIAL PLANNERCM or CFPCM is an international certification program in the field of Financial Planning, wealth management and financial advisory services.

Financial Planning is one of the fastest growing careers across the world. Being one of the fastest growing economies, India currently has around 5 crore families with investible surplus. Assuming one financial planner is handling approx. 1,000 clients we need at least 50,000 Certified Financial Planners in India immediately. This is set to grow at a faster rate. CFPCM designation was rated as Gold Standard in Financial Planning by Wall Street Journal in the year 2006.

CERTIFIED FINANCIAL PLANNERCM Certification or CFPCM Certification is a mark of excellence granted to individuals who meet the stringent standards of education, examination, experience and ethics. It is the most prestigious and internationally accepted Financial Planning certification recognized and respected by the global financial community. CFPCM Certification is the highest level of Certification in the field of Financial Planning worldwide with over 1,18,245 CFPCM Certificants and which is widely respected by consumers, professionals and industry.

CFPCM Certification is for financial services professionals, customer relationship officers, insurance agents, stock brokers, those looking to expand their careers in the financial services business, and graduates who want to be professionally and globally recognized.

Financial Planning is one of the fastest-growing professions across the world and Financial Planners are the most sought after professionals by a fast growing working population that earns well, and needs expert handling of their finances. The opportunities are aplenty with Banks, Financial Planning Outfits, Wealth Managers, Life Insurers, Accounting Firms, Stock brokers seeking professionals with such expertise. Financial Planners offer expert opinions on issues related to retirement planning, estate planning, tax planning, investment planning, insurance planning, financial management of small businesses and trusts, stock broking, debt and risk analysis. Needless to say a career as a Financial Planner can prove both challenging and rewarding.

Recognizing Financial Planning’s occupational benefits, there are many surveys that indicate a career in Financial Planning as the top career choice worldwide. Most Financial Planners enjoy relatively low stress, have a high earning potential and enjoy a high degree of workplace autonomy. The personal satisfaction element cannot be underestimated. Very often, independent Financial Planners find that people are just overwhelmed and need direction, so it’s their job to listen, understand their situation and offer some options that will help them. It gives them a satisfaction enabling people do better, not just about their finances but about blending the financial side with the other sides of clients’ lives so that they can achieve their goals.

  • Enhanced career and employment opportunities in Financial Services Sector.
  • Personal satisfaction in knowing you have earned the profession’s highest standard and met the global benchmark.
  • Satisfied clients who appreciate the comprehensive approach to Financial Planning and extend long term relationship and referrals.
  • Your expertise and credibility as a qualified professional is instantly communicated.
  • More revenue streams by increasing your product and service offering to your clients.
  • Enhanced Social Status by joining the league of professionals.
  • Recognition in over 24 countries across the world.
  • Opportunities to show case your knowledge on Financial Planning & Advising through various media vehicles.

Financial Planners may earn in any of the following three ways:

1) A Planner can be paid by a salary paid by the company for which the Planner works; by fees based on an hourly rate, a flat rate, or on a percentage of the assets and/or income.

2) By commissions paid by a third party from the products sold to clients to carry out the Financial Planning recommendations.

3) By a combination of fees and commissions whereby fees are charged for the amount of work done to develop Financial Planning recommendations and commissions are received from any product sold.

As the profession is in its nascent stage various models are being tried and tested by the Financial Planners in India. But surely over a period of time the clear trend is towards Fee-only Model like other professions, i.e. medical, law, accountancy, etc.

Financial Planning Standards Board India (FPSB India) offers the CERTIFIED FINANCIAL PLANNERCM or CFPCM Certification Program. FPSB India is the sole licensing body that awards CFPCM Certification in India through an agreement with FPSB, US. The mission of FPSB India is to help benefit the public by granting the CFPCM certification and upholding it as the recognized standard of excellence for Personal Financial Planning. CFPCM Certification is awarded by affiliate organizations of FPSB, USA in their respective countries of operation.

Financial Planning Standards Board India (FPSB India) is a Public – Private Enterprise and a Professional Standards Setting body that proactively guides the development and promotion of standards for Financial Planning professionals to benefit and protect the public in the country. FPSB India closely works with all the stakeholders’ viz. the Government, the Regulators, the Industries/Associations, the Corporate, the Media and the General Public to achieve its objectives. It is a Professional Certification Organization, part of leading Global Confederation established by prominent financial service corporations with an objective to professionalize the concept of Financial Planning in India. FPSB India is supported by 50 Financial Services Organizations in the country as its Charter Members.

Yes, currently CFPCM Certification is offered and recognized in over 23 countries including Australia, Austria, Belgium, Brazil, Canada, China, China Taipei, France, Germany, Hong Kong, Indonesia, Ireland, Japan, Malaysia, New Zealand, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, United Kingdom and United States of America. FPSB, Denver, US enters into licensing and affiliation agreements with non-profit organizations (or their equivalent) around the world that allows the organizations to establish and operate the CFPCM certification program in a country or region. FPSB Affiliates who meet and maintain FPSB’s affiliation criteria of high standards are authorized to administer the CFP certification program on behalf of FPSB in a country or region. FPSB India is one of the Affiliates of FPSB, Denver, USA. CFPCM certification undertaken in any of the affiliate country is recognized globally and governed by cross border policy usage.

GLOBAL COUNT OF CFP CERTIFICANTS (as in December 2009)
Country/Region No. of CFPCM Certificants
Australia 5,588
Austria 212
Brazil 377
Canada 17,243
China 6,139
Chinese Taipei 677
France 1,383
Germany 1,138
Hong Kong 3,884
India 907
Indonesia 462
Ireland 0
Japan 16,434
Malaysia 2415
New Zealand 416
The Netherlands 0
Republic of Korea 2,550
Singapore 721
South Africa 3,596
Switzerland 265
Thailand 66
United Kingdom 909
FPSBTerritories 65,382
United States 60,634
Global Total 126,016
Incidental Use

FPSB permits incidental use of the CFPCM marks by CFPCM professionals outside the country or region of their initial certification. Incidental use consists of displays of the CFPCM marks in/on:

  • articles published in a new country or region.
  • business cards or brochures distributed while traveling abroad.
  • websites targeted toward stakeholders in the country or region of initial certification that are viewable outside the area’s borders

Cross-Border Use
If an individual wishes to hold himself or herself out as a CFPCM professional or use the CFPCM marks outside his or her country or region of initial certification for anything other than incidental use, the CFPCM professional can pursue one of two options:

1. Cross-Border Certification : An individual using the CFP marks in more than one country or region can become cross-border certified by obtaining CFPCM certification from the FPSB Affiliate in the new country or region and abiding by the certification renewal requirements of both FPSB Affiliates. Once the CFP professional has completed the process, he or she can identify himself or herself as a CFPCM professional in those territories as well.

2. Restricted Use of the CFPCM Marks : If an individual does not want to/cannot become certified in a new territory, he can always communicate the fact that he or she has obtained CFP certification in the country or region of initial certification.

CFPCM Certification worldwide is awarded by FPSB Affiliates to competent and qualifying candidates fulfilling the 4 E Criteria of CFPCM Certification, i.e. Education, Examination, Experience and Ethics.

A candidate must complete academic coverage of the Financial Planning curriculum by undergoing the first five Modules of CFPCM Certification Education Program through an authorized Education Partner or through “Self Study” and pass corresponding Exam 1-4 facilitated by NSE. After a candidate is successful in all the examinations 1, 2, 3 & 4, he/she is eligible to appear in the Advanced Financial Planning examination termed as Exam 5. Candidates applying through the Challenge Status Pathway are deemed to have accomplished the Education Program considering their higher qualifications and work experience. Education criterion demonstrates to the public that the candidate has acquired the necessary knowledge to become a Financial Planner.

The CFPCM Examination (also called Exam 5 based on Module V -Advanced Financial Planning) is designed to assess the candidate’s ability to apply Financial Planning knowledge to real-life Financial Planning situations. By passing the CFPCM Examination, the candidate demonstrates to the public that he/she has the required level of competency to practice Financial Planning. The National Stock Exchange (NSE) has been appointed by FPSB India to conduct the CFPCM Examination.

The experience requirement qualifies work experience that involves Personal Financial Planning. Candidates under the Regular Pathway may complete the experience criteria pre or post appearing for Exam 5. However candidates under Challenge Status pathway need to have attained relevant work experience before appearing for Exam 5. The Experience criterion is meant to provide the public with the assurance that the candidate understands different products of Financial Planning and their intricacies for a specific client apart from the counseling nature of personal Financial Planning.

To get the CFPCM Certification, candidates after meeting Education, Examination & Experience criteria must agree to abide by FPSB India’s Code of Ethics, Rules of Professional Conduct, Practice Standards and Disciplinary Rules and Procedures. Careful adherence to these standards of professional conduct helps turn initial consultations into trusted, long term consulting relationships with clients and gain public confidence in the Profession and Certification.

The CFPCM Certification Education Program provides an individual the knowledge on the full range of financial products that are available in the Indian financial markets and makes him competent to recommend his/her client the right financial product to match their needs. The program helps the individual in understanding the Financial Planning process and makes him capable to explain the process to his/her clients. The individual after gaining the CFPCM Certification would be highly trained, technically competent and he/she would have had some significant practical experience. He/She would also be able to draft comprehensive Financial Plans of international standards for individuals. The CFPCM Certification program covers following areas – 1) Risk Analysis & Insurance Planning, 2) Retirement Planning & Employee Benefits, 3) Investment Planning, 4) Tax Planning & Estate Planning, and 5) Advanced Financial Planning.

The Five modules under the CFPCM Certification Education Program are
1) Risk Analysis & Insurance Planning,
2) Retirement Planning & Employee Benefits,
3) Investment Planning,
4) Tax Planning & Estate Planning, and
5) Advanced Financial Planning.
The Curriculum for the CFPCM Certification is GLOCAL. It essentially means that it is global in outlook but has been localized as per the laws and regulations governing a particular country. The Syllabus is made by leading industry practitioners and academicians and is reviewed periodically to ensure that the curriculum is up-to-date and relevant to those working in the Financial Planning industry.

Classroom Trainings is the best option. Alternatively, a candidate can adopt “Self Study” mode whereby he/she can purchase study material available from Ambition Learning Solutions and study by self. We also provide online sessions/e-learning

Challenge Status /Exam 5 is available in English only.

There are 2 pathways through which an aspirant can register for the CFPCM Certification program namely:
1) Regular Pathway through Ambition Learning Solutions or “Self Study”
2) Challenge Status Pathway

The candidate for enrolling with FPSB India for pursuing CFPCM Certification is required to be SSC or Class 12 pass, but he/she needs to be HSC or Class 10+2 pass for the award of CFPCM Certification subject to fulfilling experience criteria. The education and experience criteria are explained in the Pathway matrix below:

* The candidate may accomplish the Education component of the CFPCM Certification Program by exercising the “Self Study” option or may undergo training from FPSB India’s approved Education Partners and pass FPSB India’s Modules Certification (Exam 1-4) conducted by NSE’s Certification in Financial Markets (NCFM) compulsorily before registering for the final CFPCM Certification Examination. FPSB India and NSE jointly issue Associate Financial Planner (AFP) to successful candidates ac certificate of Education Component.

** CA / Intermediate level, CFA (USA), ICWA, CAIIB, LLB, PhD./ M.Phil/ Post Graduate in Economics, Econometrics, Statistics, Commerce, Mathematics, Finance, Management, Financial Planning/ Advising, Investment . Licentiate/Associate/Fellowship of Life Insurance from Insurance Institute of India, Actuary from Institute of Actuaries of India, Civil Services Examinations by Union Public Service Commission, Company Secretary from Institute of Company Secretaries of India, Fellow Financial Services Institute, Fellow Life Management Institute. Advanced Wealth Management Course by Indian Institute of Banking & Finance (IIBF)

# Provisional Certification shall be subject to payment of the annual requisite fees.

##Subject to fulfilling experience criteria & payment of annual Full Membership Fees. A candidate could seek either Provisional Certificate or Final Certificate based on his/her eligibility in any financial year.

### Professionals with qualification such as MBA, CA, CFA etc may add 20-25% to expected pay packet

Regular Pathway :
In order to enroll for the CFPCM Certification Education Program, the applicant must have at least passed his SSC (Class 10th) or equivalent. However, the applicant will be entitled to use the CERTIFIED FINANCIAL PLANNERCM or CFPCM marks only after he/she has acquired a minimum qualification of HSC. Moreover, the applicant also needs to have a minimum work experience of 6 years in the financial services industry. In case the applicant is a graduate, he/she needs to have a minimum of 3 years work experience in the financial services industry. The candidate will have to give a 2 hour objective exam on each of the following subjects:
1) Risk Analysis & Insurance Planning,
2) Retirement Planning & Employee Benefits,
3) Investment Planning,
4) Tax Planning & Estate Planning, and a 4-hour exam on
5) Advanced Financial Planning.

Challenge Status Pathway :
In addition to the graduation qualification, the candidate who also possesses either of the following additional qualifications/certifications viz. CA, CFA (US), ICWA, CAIIB, CS, LLB, PhD, M.Phil, PG, Licentiate/Associate/ Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service Examinations by UPSC would be eligible to enroll for the CFPCM Certification Program through the Challenge Status Pathway. In addition, he/she must also have a minimum work experience of 3 years in case of employment with a financial services organization or a minimum of 5 years of work experience in case he/she is self -employed in the financial services industry or if he/she is employed in an industry which is not related to finance but working in a department related to finance or in the finance department of the company. Only after the applicant meets these criteria he/she shall be eligible for the Challenge Status program and on successful completion of the Examination-5, he/she shall be awarded the CFPCM certification by FPSB India. The applicant is then entitled to use the CERTIFIED FINANCIAL PLANNERCM CFPCM marks and he/she would be rightfully called as a CERTIFIED FINANCIAL PLANNERCM.

Ambition Learning Solutions will facilitate your entire registration process. You can contact the office for the same.

The Challenge Status Program is for professionals who already possess certain skill sets and proficiency which is expected of Financial Planners. In order to enroll for the Certification through the Challenge Status Pathway, the candidate needs to meet the education and experience criteria. A candidate applying for the Challenge Status pathway needs to appear only for a single examination (Exam 5). Nevertheless, the syllabus under the Challenge Status program is same as in the Regular Pathway.

The fee structure currently applicable is given in the following table:

A) Education Partner mode There are various costs associated with the CFPCM Certification Program. The costs may vary from student to student based on the number of attempts he/she requires to pass the examinations. A brief estimate of associated costs is listed below:

  • Student Registration Fees with FPSB India: 11,236 (valid for 1 year)
  • Ambition Learning Solutions Fees: 30000 + S.T.
  • Exam 1-4 Fees: 2,247.20 per exam per attempt
  • Exam 5 Fees: 5,618 per attempt

B) “Self Study” mode
The candidate needs to pay registration fees (with FPSB India) of 11,236 (valid for 1 year), procure the courseware/study material from Ambition Learning Solutions. The fees for Exam 1-4, Exam 5 and Certification remains as mentioned above.

FPSB India proposes to establish a Mentorship program shortly. The Mentorship initiative is expected to provide a kind of structural approach to “Self Study”. Students aspiring to pursue the CFPCM Certification program through “Self Study” mode may opt to approach an FPSB India approved mentor for guidance and advice in pursuing CFPCM Certification. The same would be a structured and trusting relationship that will bring CFPCM Certification aspirants with CFPCM Certificants who would offer guidance, support and encouragement aimed at developing the competence and character of the mentee. In this initiative of FPSB India, a Mentor is expected to provide students with support, counsel, friendship, reinforcement and constructive examples for successfully attaining CFPCM Certification. FPSB India may also facilitate certain courseware for students at a nominal cost.

Under “Self Study” mode for registration to CFPCM Certification Program, a student may directly enroll with FPSB India by paying the Student Registration Fees. The student has option to study by self through courseware available in the market. The student may also decide to enroll for various available Education Programs (Distance Learning, Classroom Training, Web-based training, etc.) of choice. Hence, the student will be free to opt for training programs if he/she finds value in education programs delivered by the Education Partners. This proposal will ensure a student is not prohibited from pursuing the CFPCM Certification even if a student is competent to pursue the same through self study in a cost effective manner.

Yes. Student’s loan can be availed through any of the public/private sector banks for funding CFPCM education. However, this loan is currently available only on the education fee (to be paid to the education Partner) and not on the registration and exam fee which the student needs to pay to the Board. Some Education Partners also accept the fee in installments. HDFC Bank has tied up with few of the Education Partners for offering education loan to CFPCM students.

The following are 2 requirements for renewing the CFPCM Certification A) Continuing Education (CE): The CE requirement of 15 points is effective immediately upon certification and one is required to meet this to be a CFPCM Certificant. Continuing Education (CE) plays a vital role to maintain and enhance the professional competence of the CFPCM professional in a dynamic industry. FPSB India has made Continuing Education one of the key requirements for continued use of FPSB India’s CFPCM marks. B) Renewal Fee: CFPCM Certificants pay a renewal fee currently set at 5,618/- per year. To avoid the late fee, the CE requirement must be fulfilled and FPSB India must receive a duly-completed CE Reporting Form along with the Fee(s) before the renewal date.

To professionalize the product based advisory and specialized advisory services, FPSB India has established AFP Certification which is targeted at existing professionals who want to upgrade their knowledge about Financial Planning without undergoing the entire CFPCM Certification Program. The various Certifications available under this option are:

  • AFP Certification (Risk Analysis & Insurance Planning)
  • AFP Certification (Retirement Planning & Employee Benefits)
  • AFP Certification (Investment Planning)
  • AFP Certification (Tax Planning & Estate Planning)

However, FPSB India and industry encourages the students to undertake the complete CFPCM Certification Program to practise Financial Planning in its true comprehensive spirit.

An AFP certificant is one who is trained and is competent to recommend the full range of a financial product to match the needs of his/her clients. He/She understands the financial planning process and is able to explain the process to clients and provide clients with only segmented or modular plans but is not able to write comprehensive financial plans. For example - A candidate who has cleared AFP (Risk Analysis & Insurance Planning) can be relied upon for an expert advice on the subject of Insurance. However the advice has to be taken in isolation of other aspects of personal finance which may or may not yield the desired result.

In order to earn the AFP certification, you are required to complete the following course(s):

Module 1 – Introduction to Financial Planning

Any one of the next four modules.

Module 1 is embedded in each of the next 4 modules, thus making Exam 1 – 4. So, effectively a candidate needs to clear any one of Exam 1 – 4 in order to be eligible for AFP certification.

Having fulfilled the education and examination requirements, you will have to fill up a certification form. An acknowledgement of the right of FPSB India to enforce its Professional Standards and Code of Ethics on you must also be made.

Having done all of the above, the final step would be for you to convert your student certificant status into an AFP certification status. This would require you to pay an annual subscription fee of 1,500 to FPSB India before the AFP certificate is conferred. There will be no pro-rated refund on the student certificant fee paid.

AFP being a professional certification, the certificant will be required to fulfill the Continuing Professional Development credit hours requirement. For AFP certificants, the requirement is 15 credit hours to be fulfilled per two-year reporting period.

A CFPCM certificant, besides being able to discharge the service that an AFP certificant can, would also be highly trained, technically competent and he/she would have had some significant practical experience. He/She would also be able to draft comprehensive financial plans of international standards for individuals. A CFPCM certificant can be relied upon not only on the matters of comprehensive financial planning but also on individual subjects be it taxes, insurance, investments or retirement.
In order to earn the CFPCM mark, you are required to complete the following course(s):

Module Subject Exam
1 Introduction to Financial Planning
2 Risk Analysis & Insurance Planning + Module 1 Exam 1
3 Retirement Planning & Employee Benefits + Module 1 Exam 2
4 Investment Planning + Module 1 Exam 3
5 Tax Planning & Estate Planning + Module 1 Exam 4
6 Advanced Financial Planning Exam 5
Module 1 has 20% weightage in Examinations 1-4.



You would also need to:

  • Pass all the Module Examinations through the regular mode/pass the last module through Challenge Status mode.
  • Be a certificant of FPSB India.
  • Have at least 3 years of relevant working experience.

Qualifying work experience can be earned prior to, concurrent with, or subsequent to your education and examination requirements under the regular mode. However if you are a Challenge Status student the work experience has to be compulsorily earned before the examination.

Having fulfilled the education, examinations and experience requirements, you will be required to fill up a certification form. You will be required to disclose past or pending litigation or agency proceedings, if any. An acknowledgement of the right of FPSB India to enforce its Rules of Professional Standards and Code of Ethics on you must also be made.

Having done all of the above, the final step would be for you to convert your Student certificant status into a CFPCM certificant status. This would require you to pay an annual subscription fee of 5,618/- to FPSB India before the CFPCM mark is conferred. There will be no pro-rated refund on the AFP / Student Certification fee paid.

Being a professional certification, you will be required to fulfill the Continuing Education (CE) points requirement. For CFPCM certificants, the requirement is 15 CE points to be fulfilled per year reporting period.

A candidate appearing for CFPCM examination through regular mode will require at least 2 months in completing certification. However, a candidate appearing through Challenge Status mode can complete it within a month. An applicant is required to complete the CFPCM Certification Program within a maximum period of 7 years from the date he/she registers for the CFPCM Certification Education program.

CFPCM Certification students are assessed on the following:

  • Professional advice and understanding of clients’ needs; the fact-finding process; and the elements of good practice.
  • Knowledge and application of protection of capital, savings and investment, and retirement related products.
  • Knowledge of Indian financial services industry regulatory framework and taxation.
  • For detailed syllabus, please contact FPSB India.

Success in passing the exam opens up several opportunities for immediate recognition by your peers, customers and the financial services industry as a whole. Successful candidates will be awarded a certificate. They will be invited to apply for certification with the FPSB India. CFPCM Certificants who successfully apply for certification will be able to indicate their designation CFPCM on their professional identifications, including visiting cards and letter heads.

Benefits of CFPCM Certification include:

  • Certificants can indicate their certification status on their professional documents, including their name cards gaining recognition from peers and customers, and becoming part of a prestigious group of financial services dedicated to providing excellent services with high standard of ethics.
  • Free subscription to Financial Planning Journal - India’s leading financial planning publication with news, analysis and comments on current issues.
  • Newsletter.
  • Special rates to attend seminars, forums and conferences organized by FPSB India.

Yes. You can maintain your AFP license, but we would encourage you to continue with the program that would ultimately lead you to the prestigious CFPCM mark that is globally recognized. If for some reason you are unable to continue with the program, you have a maximum of 7 years to complete the CFPCM Certification Education Program course from the date of your first module registration.

You will be required to re-register for the CFPCM Certification Education Program course. In other words, you will need to undergo all the modules 1-5 once again.

FPSB India offers only CFPCM Certification and AFP Certification Programs. There are no other certifications, programs or degrees offered by FPSB India.

In your case, you will be issued a Special Certificate by FPSB India mentioning that you have successfully accomplished the CFPCM Certification exams against an annual fee which is equivalent to the certification fee and following your successful completion of 3 years of work experience, you shall be awarded the CFPCM Certification.

  • Application Fee of 5,618/-.
  • Self-declaration Form duly signed by the candidate and the Special Declaration Form signed by the HR head of the company, if he/she is employed. In case the candidate is self-employed, then the form has to be signed by a Gazetted Officer.
  • Qualification certificates (signed by the HR Head or Gazetted Officer as applicable).
  • Work- experience certificates (signed by the HR Head or Gazetted Officer as applicable).

Please note:
Incomplete applications can be subject to significant delays.

Financial Planning Standards Board India (FPSB India)
Mumbai Office:
Ms. Nayana Shree Shakya
702, 7th Floor, Leela Business Park Andheri-Kurla Road, Andheri (East) Mumbai - 400 059, India.
Tel: +91 22 61712432 / 61712424 • Fax: +91 22 6171 2444
Email: info@fpsbindia.org • Website: www.fpsbindia.org

Delhi Office:
Ms. Ekta Gupta / Sakshi Verma
916,Indra Prakash Building 21, Barakhamba Road
Connaught Place, New Delhi – 110 001, India.
Tel.: +91 011-65467168 / 23753689.

OCMS is the Online Certification Management System of FPSB India meant to automate the following processes:

Registration for CFPCM/AFP Program

  • 1. Register for Regular Mode thru Education Partner or Self-Study
  • a. Fills Student Registration Form
  • b. Pays Registration Fee
  • 2. Register for Challenge Status(CS) Program with FPSB India or Education Partner
  • a. Fills Registration Form
  • b. Pays Registration Fees

  • Application for Certification

  • 3. Apply for Student Registration with FPSB India through Education Partner or Self Study
  • a. Chooses the Study Mode
  • b. Fills Student Registration Form
  • c. Submits Supporting Documents
  • d. Pays Student Registration Fee
  • 4. Apply for AFP Certificate with FPSB India
  • a. Passes the Exam for AFP Certification program
  • b. Fills AFP / Associate Certification Form
  • c. Submits Supporting Documents
  • d. Pays Associate Membership Fee
  • 5. Apply for CFPCM Certification with FPSB India
  • a. Passes CS / Exam 5
  • b. Fills the CFPCM Certification Form
  • c. Submits Supporting Documents
  • d. Pays CFPCM Certification Fee <
  • e. Accepts the Self Declaration

  • Enrollment for Examination

  • 6. Enroll for Exam/Re-Exam (Regular Mode Students)
  • a. Cleared all the Exam 1-4.
  • b. Fill the Exam 5 Enrollment form
  • c. Select Center
  • d. Pay Exam Fees
  • 7. Enroll for Exam/Re-Exam (CS Candidates)
  • a. Registered for Challenge Status Program
  • b. Fill the Exam 5 Enrollment form
  • c. Select Center
  • d. Pay Re-examination Fees if applicable

  • Renewal of Certification

  • 9. Renewal of CFPCM Certification with FPSB India
  • a. Fill Renewal Form
  • b. Pay Renewal Fees
  • c. Accepts the Self Declaration
  • d. Submit documents CE points
  • 10. Renewal of Associate Membership with FPSB India
  • a. Fill Renewal Form
  • b. Pay Renewal Fees
  • 11. Renewal of Student Registration with FPSB India
  • a. Fill Renewal Form
  • b. Pay Renewal Fees
Knowledge Bases

Youtube Educational Channel

Economics - You will learn the following:

  • Repo Rate
  • Reverse Repo Rate
  • Marginal Standing Facility (MSF)
  • Liquidity Adjustment Facility (LAF)
  • Bank Rate
  • Statutory Liquidity Ratio (SLR)
  • Cash Reserve Ratio (CRR)
  • Net Demand & Time Liability (NDTL)
  • Commercial Paper
  • Discounting & Rediscounting of bills
  • Nominal Exchange Rate
  • Real Effective Exchange Rate
  • Inflation
  • Currency Carry Trade
  • Currency Depreciation
  • Yen Carry Trade
  • Cash Management Bills (CMB)
  • Ways and Means Advances (WMA)
  • Adhoc Treasury Bills (TB)
  • Foreign Currency Non Resident Deposit Scheme - FCNR (B)
  • Currency Appreciation
  • Current Account Deficit (CAD)
  • Bitcoins

Video #1: Marginal Standing Facility v/s Liquidity Adjustment Facility

Terms Covered: LAF, MSF, Repo, SLR, NDTL, CRR

Learning Objective: This video will help viewers understand how exactly does the Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) operate. Whats the difference between Repo borrowing & Marginal Standing Facility Borrowing. How is the Statutory Liquidity Ratio (SLR) maintained while borrowing. Also helps you understand Net Demand & Time Liability (NDTL) and Cash Reserve Ratio (CRR). The impact of LAF, Repo & MSF on the equity and Debt Market is the theme of the video

Link: https://www.youtube.com/watch?v=CZq1jI5Uf8Q


Video #2: Bank Rate Explained

Terms Covered: Bank Rate, Commercial Paper, Discounting & Rediscounting of bills

Learning Objective: This video will help viewers understand what exactly is a bank rate in India and how is it used by RBI and Commercial Banks for lending and borrowing. This video also throws light on what is a commercial paper, what is discounting and re-discounting of bills and how is the bank rate used for the same.

Link: https://www.youtube.com/watch?v=ukMLjd9mUBQ


Video #3: Nominal Exchange Rate v/s Real Effective Exchange Rate

Terms Covered: Nominal Exchange Rate, Real Effective Exchange Rate, Inflation

Learning Objective: This video will help viewers understand the difference between Nominal Exchange Rate and Real Effective Exchange Rate. This video gives some serious insights on how inflation affects the real value of a currency.

Link: https://www.youtube.com/watch?v=I9kaEjksiVo


Video #4: Currency Carry Trade

Terms Covered: Currency Carry Trade, Currency Depreciation, Yen Carry Trade

Learning Objective: This video will help viewers understand the concept of carry trade of a currency. Why foreign investors withdraw their investments from developing countries when the currency of the developing country depreciates. One of the more popular once was the YEN carry trade.

Link: https://www.youtube.com/watch?v=mDd2xWc6OaM


Video #5: Cash Management Bills (CMB), Ways and Means Advances (WMA), Adhoc Treasury Bills (TB)

Terms Covered: Cash Management Bills (CMB), Ways and Means Advances (WMA), Adhoc Treasury Bills (TB)

Learning Objective: This video will help viewers understand everything about Cash Management Bills, Ways and Means Advances, Adhoc Treasury Bills and the reason these steps are taken by the RBI in the current market situation. This was one of the measure introduced by RBI to save the Rupee fall.

Link: https://www.youtube.com/watch?v=A4qfTgdghs4


Video #6: Foreign Currency Non Resident Deposit Scheme - FCNR (B)

Terms Covered: Foreign Currency Non Resident Deposit Scheme - FCNR (B), Currency Appreciation

Learning Objective: One of the major steps taken by Mr. Raghugam Rajan our new RBI governor to get more dollars into India was by Introducing the FCNR (B) scheme for the banks. This video will help you understand from the most basic as to what is the FCNR(B) scheme, how does the FCNR (B) scheme works and how has it helped our currency appreciate from 68.30 levels to 61 levels. Why did banks start promoting FCNR(B) schemes and how did banks make more money on it.

Link: https://www.youtube.com/watch?v=Udbn5zZPLr8


Video #7 : Why is the Rupee falling v/s the dollar - Current Account Deficit - (CAD)

Terms Covered : Current Account Deficit

Learning Objective : This video will help viewers understand the reason behind the fall in the Indian rupee v/s the dollar. Rupee fell from 48 levels to nearly 69 levels. One of the main reason was the current account deficit (CAD) which is a domestic problem. What is current account deficit? To address the current account deficit issue steps were taken by the finance ministry. The impact of these steps on equity, gold and debt is what is covered in the video.

Link: https://www.youtube.com/watch?v=mLX43Kf8NDU


Video #8 : Bitcoins for Beginners

Terms Covered : Bitcoins

Learning Objective : This video will help everyone understand everything that they want to know about the basics of Bitcoins. What are Bitcoins, who issues them, where are they available, how can you get them, how are they traded, whats the value, who regulates etc everything.

Link: https://www.youtube.com/watch?v=rpdeugetKk8


Financial Markets - You will learn the following:

  • Short Selling
  • Cash Market
  • Auctions Market
  • Arbitrage
  • Premium
  • Discount

Video #9: Short Selling

Terms Covered: Short Selling, Cash Market, Auctions Market

Learning Objective: This video will help you understand how short selling is done in India, its advantages and disadvantages. How can a trader make money even when the stocks are falling. How can you sell the stock even when you dont have it in your account. This video also explains to you the way auctions market work in India.

Link: https://www.youtube.com/watch?v=fg3I_hrWaPw


Video #10: Arbitrage

Terms Covered: Arbitrage, Premium, Discount

Learning Objective: This video will help viewers understand how arbitrage is exactly done. The video talks about equity arbitrage but the logic is same for all the other asset class arbitrage as well.

Link: https://www.youtube.com/watch?v=GlnOPPT62-I


Video #11: Relationship between Bond Price & Interest Rate

Learning Objective: This video will help you understand the relationship between interest rate and the value of a bond. This video will clear your logic for why is it negative for the bond market when interest rate rises. Why is there an inverse relationship Interest Rate & Bond Price.

Link: https://www.youtube.com/watch?v=0bInsKo_338


Video #16: Relationship in Equity, Dollar & IT Stocks

Learning Objective: This video will help viewers understand the relationship between Dollar, Indian Equity & Indian IT Stocks. Why does dollar go up vs the rupee when the Indian equity market is falling. Why do investors hide in defensives like IT when the market is falling and Dollar is going up. Do leave your COMMENTS if you have any questions after viewing the video and also SUBSCRIBE to our channel to have all the latest updates.

Link: https://www.youtube.com/watch?v=2xBBQ8oeGbc


Video #17 : Foreign Portfolio Investor & Participatory Notes (P-Notes)

Learning Objective : This video will help viewers understand the difference between FDI, FII and FPI. What are the rules and regulations involved to become an FII and FPI. What are P-Note and steps taken to increase dollar inflows in India after the 2008 crises

Link: https://www.youtube.com/watch?v=tWDCX_mco5M


Video #18 : Quantitative Easing - Rupee Depreciation

Learning Objective : This video will help viewers understand what exactly is Quantitative Easing (QE). What is the impact of Quantitative Easing by U.S. on the India equity, debt and currency market. Why did India Equity, Bonds & Currency markets got sold off when the QE slow down/tapering was spoken about.

Link: https://www.youtube.com/watch?v=UEz1ynSkxog


Video #19 : Facebook Whatsapp Deal Demystified - Part 1

Learning Objective : So you think Facebook Whatsapp deal was expensive? This video will explain the viewers the valuation dynamics of the Facebook Whatsapp deal. It will also give inputs on valuation methodologies used in the industry. This video also helps you understand the reason behind the acquisition. This also gives a perspective of Aswath Damodaran on the valuations of the deal.

Link : https://www.youtube.com/watch?v=hVW8h3HgTNg


Video #20 : Facebook Whatsapp Deal Demystified - Part 2

Learning Objective : So you think Facebook Whatsapp deal was expensive? This video will explain the viewers the valuation dynamics of the Facebook Whatsapp deal. It will also give inputs on valuation methodologies used in the industry. This video also helps you understand the reason behind the acquisition. This also gives a perspective of Aswath Damodaran on the valuations of the deal.

Link: https://www.youtube.com/watch?v=3so2PpfPYtI


Learn Derivatives – Spot, Forwards, Futures, Options & Open Interest Analysis

Video #1: Basics of Currency Trading (Part one) – Currency Spot & Currency Forwards

Learning Objective: This video will help viewers understand how currencies spot market and currencies forward market works. How can you exchange currencies. How does companies enter into a forward contract with banks to hedge their currency risk and how does it benefit both the parties. After watching this video also watch the part 2 which will help you understand the currencies future market and non deliverable forwards market (NDF). (Link: http://www.youtube.com/watch?v=Bo-zxEzLT9k)

Link: https://www.youtube.com/watch?v=ST3bTgJB7Nc


Video #2: Basics of Currency Trading (Part two) – Currency Futures & Non Deliverable Forwards

Learning Objective: This video is part 2 of currencies (hope you have seen the video "Basics of currency: Spot & Forward Market before viewing this. If not this is the link ("http://www.youtube.com/watch?v=ST3bTgJB7Nc") will help viewers understand the basics of how Currency Futures are traded and what are Non Deliverable Forward Contracts (NDF). How and why are NDF's popular with FII's. How did FII's trade in NDF's which played a role in Rupee depreciation.

Link: https://www.youtube.com/watch?v=Bo-zxEzLT9k


Video #3: Options for Beginners

Learning Objective: This video will help viewers, specially audience new to options market to understand exactly what derivative options are, what are the benefits of trading in derivative options versus futures. A 30 min video explaining the entire basics of trading options.

Link: https://www.youtube.com/watch?v=sW-pZjR9YLQ


Video #4: Open Interest Analysis for Futures & Options

Learning Objective: This video will help viewers understand how open interest analysis is done in Futures & Options to predict stock price movements.

Link: https://www.youtube.com/watch?v=FJkUG88uJv8


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