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.