General information about the CFPCM certification program

What does it mean that the CFPCM certification program in India has transitioned to FPSB Ltd.?

Effective 1 April 2019, the CFP certification program in India is directly administered by U.S.-based Financial Planning Standards Board Ltd.(FPSB Ltd.), owner of the international CERTIFIED FINANCIAL PLANNERCMcertification program outside the United States. FPSB Ltd. is the sole entity in India with authority to:

  • Authorize education providers to offer CFP education courses;
  • Authorize a CFP certification exam administrator in India; and
  • Award CFP certification to those who successfully complete CFP education, CFP exam and other CFP certification requirements.

Will my accreditation through SEBI/NISM be impacted as a result of this transition?

The National Institute of Securities Markets (NISM) has accredited FPSB Ltd.’s CERTIFIED FINANCIAL PLANNER certification in India. The accreditation is valid until 4 September 2020, after which the accreditation is eligible to be renewed for two more years, subject to program monitoring and approval by NISM. With the accreditation, CERTIFIED FINANCIAL PLANNER professionals in India offering investment advice are eligible to register as Investment Advisors under Securities and Exchange Board of India regulations. To find our listing on the NISM website, click here.

Information for current CFPCM professionals

How do I submit my continuing professional development (CPD) points to FPSB Ltd.?

You can access your account via the Online Certification Management System (OCMS) portal to update the system with recently completed continuing professional development (CPD) points. FPSB Ltd. is also working with several CPD/conference providers in India to streamline the CPD reporting process and will provide an update later in the year. For more information on the activities and programs admissible for CPD points, click here.

When will the next Financial Planning Journal be available? How will it be delivered?

FPSB Ltd. is pleased to present the first edition of the Journal of Financial Planning in India! In this edition, CFP 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.

When will I get my CFP certification certificate showing that I’m currently certified by FPSB Ltd.?

In early June, FPSB Ltd. began issuing new digital credentials to all current CFP professionals in India. Consisting of a digital certificate and a digital badge, FSPB Ltd.’s online credentialing system will replace the paper certificates issued to you in the past. However, should you wish to print and frame your certificate from FSPB Ltd., you will have an option to do so.

Your digital credential for CFP certification, which is blockchain-verified to help prevent fraud, will allow people to securely and easily verify your CFP certification status across all types of online platforms, including your email signature, website, blog, LinkedIn profile and other social media accounts. FPSB Ltd. is pleased to offer this technology to CFP professionals in India, and will provide additional information on how to leverage these digital credentials to highlight your achievements as a CFP professional at the time of delivery.

Is it possible to transfer my CFP certification to a different territory?

Yes. When a CFP professional wants to practice financial planning using the CFP marks in more than one territory, the CFP professional must become certified to use the CFP marks in each territory where the CFP professional intends to practice. If a practitioner becomes certified in more than one territory, he or she must abide by the certification renewal requirements of the FPSB affiliate organization in each territory, and will also be subject to oversight by the FPSB affiliate organization in each territory.

For more information on requirements in a specific territory, please refer to that territory’s specific website. For a list of FPSB affiliate organizations, please see https://www.fpsb.org/about/member-organizations/.

How can I apply for CFP certification?

Step 1. A candidate can apply for the initial CFP certification only after successfully clearing Exam 5 and having required work experience (refer the experience criteria here – https://india.fpsb.org/experience/).

Step 2. Having met the criteria in Step 1, duly fill the CFP certification application form –https://india.fpsb.org/new-cfp-form/ and upload the required documents as mentioned in the application form.

Step 3. FPSB Ltd will verify the uploaded documents. (This may take 10-15 working days).

Step 4. Once the documents are in order, a payment link will be sent to the candidate on their registered email id for payment of fees of $100.

Step 5. Once the candidate makes the payment and it is verified by FPSB Ltd., the candidate will receive a digital copy of the CFP certificate on their registered email id.

Refer the CFP mark usage policy – https://india.fpsb.org/cfp-marks-use/

New program launching 1 June 2020 – information about the new program

How will the new program be different from the former program?

FPSB Ltd. will continue to administer the CERTIFIED FINANCIAL PLANNER certification. The education and exam topics for CFP certification will be reconfigured from the former program’s five-exam structure into a new four-exam structure. FPSB Ltd. will provide learning materials, including sample questions, Powerpoints and textbooks to support the study process. The four education and exam topics are outlined below according to how they will be grouped on the exam.

  • Personal financial management; investment planning and asset management; regulatory environment, law and compliance. (Educational materials available June 2020.)
  • Retirement planning and taxation planning and optimization. (Educational materials available August 2020.)
  • Risk management and estate planning. (Educational materials available September 2020.)
  • Integrated financial planning: This education and exam integrates all three above-mentioned education areas to provide comprehensive financial planning. Successfully passing the exams of all three above topics is a prerequisite to enroll in the final education topic of integrated financial planning. (Educational materials available October 2020)

Are there pathway certifications like the AFP?

FPSB Ltd. no longer offers AFP certification in India. Instead, FPSB Ltd. offers the opportunity for voluntary certifications on the learning path to CFP certification, aligned with the education topics. Information on the certification requirements will be on this website soon.

  • FPSB® Investment Planning Specialist certification
  • FPSB® Retirement and Tax Planning Specialist certification
  • FPSB® Risk Management and Estate Planning Specialist certification
  • CERTIFIED FINANCIAL PLANNERCM certification

How do I get started?

On or after 1 June 2020, students can enroll for the new program. Watch for more details to be shared.

When will the former program end?

The last day to enroll for the former program is 31 May 2020. Coursework and all exams for the former program must be completed no later than 31 March 2021. Experience must be completed within five years of successfully passing your first exam.

Students (Former Program) – information for students interested in the former program through 31 May 2020

Will NSE exams be impacted by the COVID-19 virus?

On 18 May 2020, NSE Academy announced that all examination centers are closed through 7 June 2020. Students who are scheduled to take an exam through 7 June  2020 may re-schedule his/her test(s) till test date 31 August 2020.

FPSB Ltd.’s CFP certification exams shall not be available for payments and enrollments on the NCFM online portal until 31 May 2020. We have taken this step to make sure that when exams open those whose examinations were cancelled have the ability to reschedule and that we can appropriately manage the backlog and to minimize the number of candidates who have to manually reschedule exams. We will continue to assess the situation and make changes as appropriate, but in the meantime, please feel free to contact FPSB Ltd. with any questions or concerns.

FPSB Ltd. will post updates to india.fpsb.org/news-and-events and our social channels (Facebook, Twitter and LinkedIn) as we are informed of further changes.

Is my Education Provider authorized with FPSB Ltd.?

FPSB Ltd. has entered into agreements with several Authorized Education Providers to provide financial planning education courses that fulfill the education requirement of FPSB Ltd.’s CFP certification program in India, as well as prepare individuals to sit for CFP exams (administered by NSE Academy in India).

What is the student registration process under FPSB Ltd.?

Student Registration Process – Regular Pathway

A. Eligibility Criteria

1. Education: A candidate must be HSC/12th pass at the time of registration as a student. However, the candidate must be a graduate at the time of certification.

2. Employment/Work Experience: No prior work experience is required by the student at the time of registration for the course. Candidate can enroll for the course and sit for all the Examinations. However, CFP certification will be awarded to the candidate after he/she furnishes valid experience of three to five years depending on his/her work experience in financial planning or other financial services. Refer the link for work experience requirement:  https://india.fpsb.org/experience/

B. Process

Step 1.   Obtain a NCFM number through the NSE Academy website at https://www.ncfm-india.com/ORE/OREregisterCandidate.jsp. If you have already taken the NCFM number for any of the NCFM Certifications/Programs/courses etc., then do not register with NSE Academy again; instead, use your name (exactly as given in your NCFM account) and your NCFM number (full 11 digits) while filling your Student Registration Form as per Step 2 below.

Step 2.  *Register as a Regular Pathway Student of FPSB Ltd. by completing the Student Registration Form at https://india.fpsb.org/new-student-registration-process/ While filling the student registration form, the student is required to upload the documents (photo, PAN Card, 12th (HSC) / Graduation certificate (i.e. self-attested supporting documentation for any one of the highest educational qualifications) and Marriage certificate/Gazette copy/Passport copy in case of change of name after marriage).

*Candidates may register through the Education Provider mode or through the Self Study mode. List of Authorized Education Providers – https://india.fpsb.org/education-providers/

Step 3.  After filling the registration form, continue by paying online the Student Registration Fee of US $165. The fee is to be paid through credit card or PayPal (debit card/credit card). The student will get a system generated receipt of fee payment.

Step 4.  FPSB Ltd. verifies internally that the required documents are in order and Student Registration Fee has been received (this may take up to 15 business days).

Step 5.  After verification, as in step 4 above, FPSB Ltd. activates the student’s FPSB account and sends a mail to the student confirming his/her registration with FPSB Ltd. and the login details. At the same time FPSB Ltd. also activates the student on the NSE exam portal (Step 5 may take up to 7 working days).

Step 6.  Once the student is activated on the NSE Exam portal he/she can schedule his/her Examination as per availability of seats at the test centre.

For any queries related to the Registration process / Form filling / Document submission / Payment issues /modules not visible on NSE portal please contact 9833782677 or email on [email protected].

Student Registration Process – Challenge Status Pathway

A. Eligibility Criteria

1. Education: Minimum Post Graduation in the finance stream. (A candidate must be a CA / Intermediate level, CFA (US), ICWA, CAIIB, AWMC, CS, LLB, PhD, M. Phil, PG, Licentiate / Associate / Fellowship of Life Insurance, Actuary, FFSI & FLMI from LOMA, Civil Service Examinations by UPSC). Refer the link for education requirement: https://india.fpsb.org/challenge-status-process/

2. Employment/Work Experience: Prior work experience of three to five years in financial planning or other financial services in finance/non finance field before applying for the CS registration. Refer the link for work experience requirement: https://india.fpsb.org/experience/

B. Process

Step 1.   Obtain a NCFM number through the NSE Academy website at   (https://www.ncfm-india.com/ORE/OREregisterCandidate.jsp). If you already have an NCFM number, taken for any of the NCFM Certifications/Programs/courses etc., then do not register with NSE Academy again; instead, use your name (exactly as recorded in your NCFM account) and your NCFM number (full 11 digits) while filling your Student Registration Form as per Step 2 below.

Step 2.  *Register as a Challenge Status Student of FPSB Ltd. by completing the Challenge Status Registration Form at https://india.fpsb.org/challenge-status-process/. While filling the Challenge Status registration form, the student is required to upload the documents (photo, PAN Card, Graduation, Post-Graduation certificate (i.e. self-attested supporting documentation for any one of the highest educational qualifications), work experience and marriage certificate/Gazette copy/passport copy in case of change of name after marriage). Visit the link for this purpose: https://india.fpsb.org/challenge-status-process/
*Candidates may register through the Education Provider mode or through the Self Study mode. List of Authorized Education Providers – https://india.fpsb.org/education-providers/

Step 3.  FPSB Ltd. verifies internally that the required documents are in order (this may take up to 5 business days).

Step 4.  FPSB Ltd. will mail the payment link to the student once the documents are found to be in order. Pay the Student Registration Fee of US$ 300 (inclusive of taxes) online through Credit card or Paypal (debit card/credit card). The student will get a system generated receipt of fee payment.

Step 5.   After verification of the payment, FPSB Ltd. activates the student’s FPSB account and sends a mail to the student confirming his/her registration with FPSB Ltd. and the login details. At the same time FPSB Ltd. also activates the student on the NSE exam portal (Step 5 may take up to 15 working days).

Step 6.  Once the student is activated on the NSE Exam portal he/she can schedule his/her Examination as per availability of seats at the test centre.

For any queries related to the Registration process / Form filling / Document submission / Payment issues /modules not visible on NSE portal please contact 9833793724 or email on [email protected]

I previously paid FPSB India a registration fee to be able to sit for one or more CFP exams? Is that fee still valid or do I have to pay a new registration fee to FPSB Ltd.?

FPSB Ltd. will not require a new registration fee for students who had registered with NSE Academy for CFP exams during the period of 1 January 2017 through 31 March 2019.

Can I register for a CFP exam now?

Yes, CFP exams are now available through the NSE exam portal. Individuals who are verified by FPSB Ltd. as being students of an Authorized Education Provider, and who had previously registered with NSE Academy during the period of 1 January 2017 through 31 March 2019, can register for one or more CFP exams for no additional registration fee until 31 March 2020.

How can I register for the CFP exam?

Step 1. Login to NCFM using your NCFM username and password on the below mentioned website: https://www.ncfm-india.com/ORE/OREloginPage.jsp

Upload photograph on the NCFM registration form, if not already done. Come to step 2 if already done.

Step 2  Check seat availability for the CFP Exams at your preferred #NSE IT Test Centre by clicking ‘Check Seat Availability’ tab.
Subsequently, follow either Step 3A OR Step 3B as below:

Step 3A. If the preferred centre and date is available, schedule your examination online by clicking the ‘Pay Fees’ tab; select the mode of payment (Debit Card/Credit Card), select your preference for the name of the Exam, date, time, venue from the drop down list, and submit the payment directly to NSE on the online platform. Hall Ticket is generated after the payment has been done.

Note: Under the Tab ‘Query/Report (Certificate/Hall Ticket/Invoices)’ students have access to view their Hall Ticket, Previous Test Scores, Current A/C Balance and Payment Invoice.

Step 3B. In case the student has sufficient money parked in his/her NCFM account he/she may directly go to the option ‘Book your seat’ and schedule the examination.

Note: Students of regular pathway can schedule Exam 1 – 4 in any sequence; the student can schedule Exam 5 only after successfully passing all the four exams. Students of Challenge status pathway will skip Exams 1 – 4 and directly book Exam 5.

After enrolling for the exam, the student will receive email and SMS alert from NSE on his/her registered email ID and mobile number confirming his/her Examination details.

It is compulsory to carry the photo ID to the examination centre.

Name of Examinations

1. Risk Analysis & Insurance Planning (Exam 1)
2. Retirement Planning & Employee Benefits (Exam 2)
3. Investment Planning (Exam 3)
4. Tax Planning & Estate Planning (Exam 4)
5. Examination 5 – Advanced Financial Planning

Note:
#List of NSE IT Test Centres can be accessed at:
 https://www.nseindia.com/content/ncfm/ncfm_testlocations.pdf

If I am a self-study candidate, can I still sit for the CFP exams?

FPSB Ltd. has opened a 90-day registration window for self-study candidates. From 16 September until 31 March 2020, self-study candidates are able to register with FPSB Ltd. as a candidate for CFP certification and then apply to NSE Academy to sit for CFP exams. For more information, please refer to the new student registration process.

Will the cost of the education courses change in India?

FPSB Ltd. does not set the pricing or fees for education courses in India. Each Authorized Education Provider establishes its own course cost and pricing.

Will the cost of registering to sit for the CFP exams change in India?

FPSB Ltd. will not require a new registration fee for students who had previously registered with NSE Academy for CFP exams during the period of 1 January 2017 through 31 March 2019.

Will the cost of the CFP exams change in India?

Until 31 March 2020, the fees for CFP exams (1 – 5) in India will remain the same as they were over the past year.

Will the cost of the CFP certification change in India?

Until 31 March 2020, the basic renewal fee for CFP certification in India will be USD100, which is equivalent to the renewal fee in INR in recent years.

Does FPSB Ltd. provide AFP (Associate Financial Planner) certification?

FPSB Ltd. does not offer AFP certification any longer.