FPSB India has about 50 charter members who have recognized CFPCM Course and have been encouraging their employees to clear the certification. These charter members are also keen on hiring fresh graduates with CFPCM certification. The charter members of FPSB are nothing but the financial service institutions like Axis Bank, ICICI Bank, HDFC Bank, Franklin Templeton mutual fund etc.
As per FPSB India guidelines, a candidate should ideally complete the 4 Es i.e. Education, Examination, Experience and Ethics. The CFPCMCM course consists of 6 subjects. To get the certificate one has to clear the examinations set by FPSB India. CFPCM certification modules are;
• Introduction to financial planning
• Risk analysis and insurance planning
• Retirement planning
• Investment planning
• Tax and estate planning
• Advanced financial planning
There is no examination for the first module but the content of the same is tested in the rest of modules. There are 2 different pathways of pursuing CFPCM certification;
• CFPCM Regular Pathway
• CFPCM Challenge Status Pathway
CFPCM Challenge Status Pathway:
This program is meant for people with professional work experience. Under this route, a candidate is exempted from writing the exam for the first four papers and can appear for last module exam directly to complete the certification. For an individual to qualify for challenge status program, the following criteria should be fulfilled:
• 2 years full time post graduation degree or professional qualifications prescribed by FPSB India
• 3 years of work experience in financial services industry or 5 years of work experience in other industry
The CFPCM challenge status pathway is best suited for individuals with experience in BFSI domain and possesses basic knowledge on investment products.
• Online examination conducted at NSE-IT centers on daily basis
• The examination consists of 2 case studies with 15 questions each
• The questions are combination of 2,3,4 and 5 marks
• The duration of the examination is 4 hours to answer 30 questions
• 50% is the minimum passing rate and there is no negative marking
Knowise CFPCM Challenge status training program:
Knowise is one of the pioneers in offering training for CFPCM Challenge Status Program. The first specialized challenge status course batch was launched in 2009. The key features of our training program are:
• Faculties are experts with rich experience in teaching and wealth management
• 60 hours class room session conducted on Sundays (Week day batches are available as well)
• The duration of the program is 3 months
• A new batch is launched every 2 months
• We hold 90%+ passing rate in CFPCM challenge status training program as well
After successful completion of the examination, one has to fill out the application for obtaining the CFPCM certification. The certificate is valid for 1 year and the candidate should obtain 15 Continuing Education (CE) points to renew the certification. CE points are obtained in the form of attending the seminars, answering the questionnaire in financial planning magazine, teaching etc.
For CFPCM regular pathway training program, we launch a new batch every month. The enrollment process is completed via email or in the office premises of Knowise. Upon enrollment, we would take the candidate through the basic concepts of Time value of money using excel and introduction to financial planning module.