How to Become a Certified Financial Planner; Qualification and Job Opportunities

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Reported by Anjali

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A Certified Financial Planner created financial strategies for the clients to manage their resources and fulfil their financial targets. The role of the financial planner is to use their knowledge to create the best advice for investments, insurance as well as other financial-related matters.

The certified Financial Planner position is getting the recognition it needs. The same position has grabbed the attention of many individuals, and now they want to make a career in that as well. One thing one must be aware of before starting a career is to know How to become a certified Financial Planner. Therefore, we have prepared the article which will provide information regarding the job opportunities, required qualifications, and more.

How to become a certified Financial Planner?

How to become a certified Financial Planner
How to Become a Certified Financial Planner; Qualification and Job Opportunities 3

In the following section, we are going to provide a detailed process which can be followed by the aspirants to get the position of Certified Financial Planner in a respectable company:

  • The first and foremost important thing is to clear the basic educational requirements. Class 12th is now becoming essential for almost every position. So, clear your class 12th by scoring good marks. Make sure that you are completing your class 12th from a recognized board. At least 55% marks are necessary in class 12th.
  • After completing the schooling, candidates must proceed further with the process by applying for higher education i.e., possessing the bachelor’s degree. Many companies ask candidates to have a bachelor’s degree in business, accounting, economics or finance to get the position of Certified Financial Planner. To get a higher position in the same field, a candidate might be asked to have a master’s or even a doctorate from a recognized university.
  • The next stage is to select the CFP education route. There are multiple websites available that provide free-of-cost study materials to candidates, Various online classes are available that complete the courses upto 12 weeks. Candidates with this route might be exempted from examination requirements.
  • Now, all you need to do is appear for the CFP exam and clear it by scoring the minimum required marks. You can also work and take an internship in some companies to make your resume stronger than others.

Required Qualifications for a Certified Financial Planner

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First of all, candidates must have completed Class 12th from a recognized board by scoring good marks. After that, interested ones must have cleared CA/ Intermediate level, ICWA, CFA, CS, etc, to become eligible for the fast-track programme. Along with it, they must have completed the respective program regarding financial planning which must be approved by FPSB India and qualify the CFP exam.

Certified Financial Planner Job Opportunities

Job OpportunitiesJob Description
Financial AdvisorFinancial Advisors work in the area in which they offer guidance to others on how to invest money and where to invest the money. They also estimate the correct time to invest the amount. Apart from this, a Financial Advisor also offers a wholesome financial plan or guidance for converting the individual investment into a larger amount.
Finance AssistantThe role of the finance assistants is to complete the day-to-day tasks related to the finance. It is usually done under the financial department. Some of the main tasks include updating the financial reports, data entry as well and preparation of the balance sheets. They are also responsible for the cost analysis report preparation process.
Financial ManagersPlanning the whole budget along with supporting the executive management team is one of the main tasks conducted by the finance manager. They complete this task by helping to offer finance-related advice and insights. With the help of this, some of the best business decision for the company is made. The Finance Manager also provides finance resources for the respective company.
Financial PlannerIndividuals who offer help to clients by creating their financial budgets work as financial planners. This task is completed by making some objectives for savings i.e., controlling and minimizing the client’s expenses. Through this, financial planner creates wealth for their clients. They also check the statement of the finance for finance planning for a company or individual.
Wealth AdvisorServices such as investment advice, planning related to taxes, estate planning and others are offered by the Wealth Advisor. Wealth Advisor also works as a broker who buys stocks or sells them for their clients.
Mutual Fund AdminsPeople with Mutual Funds Admin positions completed all finance-related paperwork processing regarding mutual funds. Up-to-date information regarding the client’s funds and investments is offered by them. Furthermore, all important legal requirement is advised by Mutual Fund Admins only.
Client Service AssociateClients Service Associates are financial planners who guide financial advisors related to a particular task. They improve the experience of the clients by offering services related to client’s business, contracts and others.
Portfolio ManagerThe tasks of Portfolio Managers are to create multiple investment ideas and processes which can fulfil the goals of the client along with managing their portfolios. They make some big decisions like when to buy and sell investments and others.

Frequently Asked Questions

Who are the top recruiters of Certified Financial Planners?

The following are some of the top recruiting companies that hire candidates for the position of Certified Financial Planner:
SBI, RBI, ICICI, Visa Inc, Amazon, Standard Chartered Bank, IRCTC, ICBC and JP Morgan

How much money does a Certified Financial Planner receive?

After completing the CFP courses from a recognized educational institute, an aspirant can get various high-paying jobs. The average salary which one receives at the start of their career as a CPF i.e., Certified Financial Planner revolves around Rs. 4,15,000 monthly. However, the salary depends of multiple aspects such as location, company and more. The average highest salary that one can receive as a CFP within India revolves around 11 to 12 lakhs INR per annum and it can even exceed 20 lakh per annum if the relevant experience is available.

Which major sector hires Certified Financial Planner?

Here is the list of some of the major sectors that hire candidates for the position of Certified Finance Planner:
Banking, Insurance Firms, Consulting Firms, MNCs, Tax Consultancies, Brokerage, Wealth Management, NBFCs and Law Consultancies

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