A career as a Certified Financial Planner (CFP) in India can be rewarding and challenging. Here are some details about the career path and opportunities for CFP in India:
Education and training: To become a CFP in India, one must complete the CFP course offered by the Financial Planning Standards Board India (FPSB India). The course involves studying subjects such as financial planning, investments, retirement planning, tax planning, and estate planning, as well as practical training and passing an exam.
Career opportunities: CFP in India can work in a variety of roles in different sectors, including banking, financial services, insurance, and consulting. They may work as financial planners, investment advisors, wealth managers, or in other roles related to financial planning.
Salary and compensation: CFP in India can expect to earn competitive salaries, especially at senior levels. Salaries vary depending on factors such as experience, industry, and location. According to data from Payscale, the average salary of a CFP in India is around Rs. 5 lakh per annum, while senior CFP with over 20 years of experience can earn Rs. 20 lakh or more per annum.
Continuing professional education: CFP in India are required to undertake regular continuing professional education (CPE) to keep their skills and knowledge up to date. The FPSB India offers a range of CPE courses and programs, both online and offline, to help CFP stay current with developments in their field.
Professional networking: CFP in India can benefit from a strong professional network through their membership in the FPSB India. The FPSB India offers opportunities for networking, mentoring, and professional development through its various chapters and branches across the country.
It is important to note that the financial planning industry in India is still evolving and there is a growing demand for qualified and skilled professionals in this field. As such, a career as a CFP in India offers excellent growth potential and opportunities for advancement, especially for those who are committed to continuing education and professional development.