‘A certified financial planner can easily earn ₹10-15 lakh per year’
Financial Planning Standards Board (FPSB) India, we focus more on the ability and employability so that skilled financial professionals can enter the job market, says chief executive officer Krishan Mishra in an interview with Mint. While the CFP certification course costs a mere ₹1.5 lakh, freshers can earn ₹5-6 lakh per annum and those with just 3-4 years of experience can get salaries of ₹10-15 lakh, says Mishra, who took over as the chief executive in August this year. Edited excerpts from an interview. The number of CFPs in India was 2,517 in 2022 , compared to 2,338 in 2021.
Globally, there were 203,312 CFPs in 2021 and 213,002 in 2022. The data for 2023 will be available by February. The new curriculum for the CFP certification is quite practical and application-based.
It consists of three specialist certifications—investment planning, retirement and tax planning and estate planning—followed by the final, Integrated financial planning examination. The final exam will have questions based on a case study that involves concepts that you have learned in the initial three levels. Although they are multiple choice questions, it is better to consider them as multiple task questions.
You have to solve those to find the answers. Anyone who is at least 18 years of and has completed higher secondary or class 12 may appear for these exams. But you can get the CFP certification only after your graduation.
Students can clear all modules while doing graduation to land jobs right after they graduate. The ideal duration to complete all modules is 12-18 months. Applicants who have already spent a good time in the financial services industry can directly appear for the final exam.
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