Journal of Financial Planning in India
FPSB Ltd. is pleased to present the first edition of the Journal of Financial Planning in India! In this edition, CFPCM professionals will find a collection of insightful articles authored by industry experts and academics within FPSB Ltd.'s global network. We understand that continuing professional development (CPD) is of great importance to you as you seek to enhance your skills and retain your CFP certification. So, we've built in a CPD quiz that provides four CPD points for CFP certification renewal. We hope this journal and future editions will become a staple in furthering your professional development and connecting you to the global financial planning profession.
FPSB Ltd. Guidance Practice Note
This Guidance Practice Note, published by FPSB Ltd. seeks to enhance CFP professionals' understanding of the various issues related to advising vulnerable clients, and provide general guidance for how CFP Professionals can develop policies and work with vulnerable clients in a way that fulfils their ethical and professional obligations to these clients.
Once you have read the Guidance Practice Note, click on the survey link to test your knowledge and earn 1.5 CPD points. The quiz can be taken twice
Read the FPSB Ltd. Guidance Practice Note
Cafemutual IFA Event (CIFA) 2020
CFP Certificants participating in the above mentioned event will be eligible for five (5) Continuing Professional Development (CPD) points.
FPSB Ltd. Webinars
Each of these webinars provides an in-depth look at various key topics benefiting CERTIFIED FINANCIAL PLANNERCM professionals. Once you have watched a webinar, click on the corresponding survey link to test your knowledge and earn continuing professional development (CPD) points. Each quiz can be taken twice. 1 CPD point will be earned for each quiz passed.
If you are interested in producing a webinar for FPSB Ltd please send an email to [email protected] for guidelines and instructions.
To be eligible to receive CPD credit for the Journal of Financial Planning in India (published semiannually) and webinars below, you must purchase a subscription.
| Digital Transformation in Financial Planning |
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| Presenter: Rubina K. Hossain, CFP |
| Length/# of CPD credits: 30 minutes /.5 CPD points |
| Objectives: In this video, you’ll learn how technology is impacting the financial planning profession, and how to adapt for your clients. |
| Take the Survey Quiz |
| Putting Principles into Practice: Client First |
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| Presenter: Ted Stephenson, CFP |
| Length/# of CPD credits: 1 hour/1 CPD point |
| Objectives: In this course, you’ll learn how to put ethical standards into practice with various case studies. *This course is eligible for meeting the Ethics CPD requirement. |
| Take the Survey Quiz |
| Later in Life Planning |
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| Presenter: Dr. Megan McCoy, LMFT & Shelitha Smodic, CFP |
| Length/# of CPD credits: 40 minutes/.5 CPD points |
| Objectives: In this course, you’ll learn various tactics to use when faced with planning for later in life circumstances. |
| Take the Survey Quiz |
| Inheritance Management |
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| Presenter: Sonam Bhagat, CFP |
| Length/# of CPD credits: 1 hour/1 CPD point |
| Objectives: In this course, you’ll learn about Estate Planning in India and valuable information on how to discuss this topic with your clients. |
| Take the Survey Quiz |
| Essential Habits of Trusted Advisors |
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| Presenter: Anton Swanepoel, CFP |
| Length/# of CPD credits: 1 hour/1 CPD point |
| Objectives: In this course, you’ll learn about Stephen Covey’s acclaimed book, The Speed of Trust, and practical guidelines for improving your trust-building skills. |
| Take the Survey Quiz |
List of Activities and Programs* Admissible for Award of Continuing Professional Development (CPD) Points for Renewal of CFPCM Certification
* This information is valid through 31 March 2020 and is subject to change in the future
| Sr.No. | CPD Category | CPD Program/Activity | CPD Points Admissible | Validity of Program/ Activity | Remarks | Relevant Documents Admissible | |
| 1 | Authorship | Authorship of book on finance or any component of financial planning** | 10 | Ongoing | Book to be completed in the validity period of 1 year | Soft/hard copy link of book | |
| Authorship of articles in print/electronic media/Journal of Financial Planning in India | 5 | Ongoing | Published date of the article to be in the validity period of 1 year | Soft/hard copy link of article | |||
| Published interview in print media or interview/panel discussion in electronic media | 5 | 31-Mar-20 | Published date/ telecast date to be in the validity period of 1 year | Soft/hard copy link of interview | |||
| Published quotes in print media or viewpoint/bite in electronic media (per article or appearance) | 2 | 31-Mar-20 | Published date/telecast date to be in the validity period of 1 year | Soft/hard copy link of article | |||
| 2 | Qualification | Professional courses and certifications (Actuary, CA, CFA, CAIIB, JAIIB, ICWA, CS) | 10 | Ongoing | Date of completion to be in the validity period of 1 year | Photocopy of passing certificate/degree | |
| Higher academic qualifications (post-graduate or doctorate in finance, economics, econometrics, mathematics/statistics, law) | 10 | Ongoing | Date of completion to be in the validity period of 1 year | Photocopy of passing certificate/degree | |||
| Licentiate/associate/fellowship of life insurance from Insurance Institute of India | 5 | Ongoing | Date of completion to be in the validity period of 1 year | Photocopy of passing certificate/degree | |||
| MBA (finance ? part-time)/ (except finance ? full-time) | 5 | Ongoing | Date of completion to be in the validity period of 1 year | Photocopy of passing certificate/degree | |||
| 3 | Certification/? Courses | Mandatory certifications (NISM-MF, IRDA), other
relevant courses of NCFM, BSE, IIBF, NISM, etc. |
2 | 31-Mar-20 | Date of completion to be in the validity period of 1 year | Photocopy of passing certificate | |
| Aspiration relevant courses of at least 1-year duration run by professional education entities | 10 | Ongoing | Date of completion to be in the validity period of 1 year | Photocopy of passing certificate/degree | |||
| LOMA certification | 5 | Ongoing | Date of completion to be in the validity period of 1 year | Photocopy of passing certificate/degree | |||
| 4 | Events/ Meetings | Events, seminars, roundtable/ conference, Financial Planning Congress, etc. and workshops organized and/or pre-approved by FPSB Ltd. or FPCIL | 5 | Ongoing | Date of event to be in the validity period of 1 year | Participation certificate/attendance sheet and event agenda | |
| Other events related to one of the financial planning components** or other relevant matters on economy and finance | 2 | 31-Mar-20 | Date of event to be in the validity period of 1 year | Participation certificate/attendance sheet and event agenda | |||
| Financial Planning Association’s (FPA) annual convention in the U.S. | 10 | Ongoing | Starting Date of convention to be in the validity period of 1 year | Participation certificate/attendance sheet and event agenda | |||
| Meetings of the Board of FPSB India and appointed committees prior to 1 April 2019 transition to FPSB Ltd. | 3 | Ongoing | Date of meeting to be in the validity period of 1 year | Participation certificate/attendance sheet and event agenda | |||
| Board meetings of entities in the BFSI sector | 3 | Ongoing | Date of meeting to be in the validity period of 1 quarter | Participation certificate/attendance sheet and event agenda | |||
| 5 | Quiz | Quiz in the?Journal of Financial Planning in India?or solving queries in newspapers/other journals | 4 | Ongoing | Month of Journal/quiz to be in the validity period of 1 quarter | Result sheet | |
| 6 | Teaching | Training and teaching assignments other than performed/undertaken as part of profession (workshops, institutes, classroom teaching, etc.) (Full-day assignment) | 5 | 31-Mar-20 | Sessions to be in the validity period of 1 quarter | Acknowledgment letter from the college/institute mentioning the date, topic and number of hours of lecture/training/workshop | |
| 7 | Speakership | Speakership in a seminar, convention, conference, etc. | 3 | 31-Mar-20 | Date of event to be in the validity period of 1 quarter | Acknowledgment letter from the college/institute mentioning the date, topic and number of hours of lecture/training/workshop | |
| 8 | Pro bono
work |
Pro bono work which can be classified as voluntary contribution to the community helping the deprived people with transfer of knowledge of managing one?s financial affairs in a holistic manner of financial planning. | 3 | Ongoing | The construction and submission of the financial plan has to be in the applicable period for the award of CPD points | Copy of the financial plan in case of pro bono work | |
| 9 | Other | Participation in TV shows/ interviews | 2 | 31-Mar-20 | Date of show to be in the validity period of 1 quarter | Participation certificate/attendance sheet and event agenda/event schedule | |
| Answering questions/queries in newspapers/magazines | 2 | 31-Mar-20 | Date to be in the validity period of 1 quarter | Participation certificate/ attendance sheet and event agenda/event schedule | |||
** Components of financial planning: financial management, asset management, risk management or insurance planning, tax planning, retirement planning and estate planning
Important Points
- The requirement of acquiring 15 CPD points is immediately after the issue of initial certification and falls due when the CFP professional renews his/her certification at annual intervals.
- The CPD points are to be acquired in the certification period and any excess points are not to be carried forward in the next certification period.
- The failure to renew on the due date, apart from a late renewal penalty, requires the earning of extra CPD points (if beyond 6 months of due date of renewal).
- Failure to fulfill the continuing professional development criterion within the prescribed period will result in non-renewal of CFP certification and will also preclude any use of the CFP marks by the CFP professional.
- Unsupported, misstated or fraudulent reporting of CPD points shall be viewed seriously and may call for action by FPSB Ltd. and be grounds for disciplinary action leading to the revocation of CFP certification.