Certified Financial Planners work is to help the clients with their investment decisions, retirement plans, taxes, and selecting insurance policies. Their job involves conducting meetings with clients, researching new opportunities and analyzing financial information.
CFP full form Certified Financial Planner course is provided by the Financial Planning Standards Board (FPSB) after qualifying the five exams of 6 modules. CFP certification is a globally accepted and worldwide recognized Certificate in Finance and is offered through Online as well as Offline mode.
After the completion of the CFP course, CFP graduates can find lucrative and highly paid job opportunities in various sectors which includes the private banking sector, mutual fund and insurance companies, wealth management companies, investment consultancy firms and many others. The average salary one can expect to earn as a Certified Financial Planner (CFP) in India is around INR 3.99 LPA which increases with experience and expertise.
Table of Content
CFP Job Profiles
CFP course graduates can work in various high profile and reputable job profiles such as Financial Advisor, Wealth advisor, Cost Analyst, etc to name some of them. The average annual salary of around INR 3-5 lakhs per annum depending upon the various companies, region and other parameters.
Tabulated below are the various job profiles for CFP course graduates along with their job description and average annual salaries.
| Job Profiles | Job Description | Average Annual Salary |
|---|---|---|
| Financial Advisor | Financial Advisors are the one who are responsible for providing guidance on how and where to invest money and what's the right time to invest. They also advise for a wholesome ?nancial plan or individual investments made towards a larger ?nancial plan. | Average Salary -INR 3.62 LPA Highest Salary -INR 20.95 LPA |
| Finance Assistant | Finance Assistants are responsible for the day-to-day Finance related tasks in a financial department. Their main duties include Data entry, preparing balance sheets, updating financial reports and processing invoices. Also they prepare cost analysis reports. | Average Salary -INR 3.01 LPA Highest Salary -INR 6 LPA |
| Financial Managers | Finance Managers are the ones responsible to plan the budget and support the executive management team by providing insights and financial advice which help them to make the best business decisions for the company. They also distribute the financial resources of a company. | Average Salary -INR 8.79 LPA Highest Salary -INR 13.12 LPA |
| Financial Planner | They are mainly responsible for assisting clients with creating personal budgets; establishing objectives for saving; minimizing, controlling, and managing their expenses. They implement necessary steps for creating and accumulating wealth. Financial planners analyze financial statements of an Individual or company for Financial Planning. | Average Salary -INR 3.90 LPA Highest Salary -INR 9.75 LPA |
| Wealth Advisor | Wealth Advisors are the professionals responsible for offering a variety of services including financial/ investment advice, tax related planning services and estate planning. They often work as a broker to buy and sell stocks on behalf of clients. | Average Salary -INR 5.49 LPA Highest Salary -INR 9.18 LPA |
| Mutual Fund Admins | Mutual Funds Admins are responsible for completing all the Financial Paperwork processing related to Mutual Funds. Also they provide up-to-date information of clients funds information or investments and advise Mutual Funds with all necessary legal requirements. | Average Salary -INR 6 LPA Highest Salary -INR 9.60 LPA |
| Client Service Associate | A Client Service Associate is a Financial Planner who helps the Financial Advisors about specific tasks. They work for Clients satisfaction and enhance Clients experience by providing services for their Contracts, Business etc. | Average Salary -INR 3.09 LPA Highest Salary -INR 5.20 LPA |
| Portfolio Manager | They implement investment strategies and processes to meet client goals and construct or manage portfolios. They make decisions on what and when to buy and sell investments and select, prioritize organization's programs and projects in accordance with its strategic goals and results. | Average Salary -INR 10.95 LPA Highest Salary -INR 28 LPA |
The following chart is the representation of various job roles one can expect to work after successful completion of CFP course along with their average and highest salary:
The scope of CFP earning is much more than its average salary which ranges between INR 3-6 LPA. The average income of a Certified Finance Planner (CFP) associated with good clients and companies is even higher than the highest salary of several other professions. Apart from regular salary CFP are also paid through either a bonus, profit sharing or through commission.
CFP Job Sectors
The career scope for CFP Jobs are diverse and are available in various sectors. After the completion of the CFP course, Certified Finance Planner (CFP) graduates can work in different sectors including Finance consultation, Investment Banking, Portfolio Management etc.
The banking sector is another prospective and productive area for the successful candidates. CFP jobs in banks include many posts such as assistant of the controller, treasurer, credit manager, and case manager. CFP graduates can also set up their own independent consultancy firm and act as a tax planner, insurance advisor and debt management specialist. CFP Jobs and Scope is so vast that one can easily land an average paying job.
Some of the major job sectors where an CFP graduate can find job opportunities and can work as a CFP professionals are mentioned in the table chart:
| Banking | Insurance Firms | Consulting Firms |
| MNCs | Tax Consultancies | Brokerage |
| Wealth Management | NBFCs | Law Consultancies |
CFP Jobs:Top Recruiters
Some of the top recruiting companies that hire Certified Finance Planner (CFP) are tabulated below:
| SBI | RBI | ICICI |
| Visa Inc | Amazon | Standard Chartered Bank |
| IRCTC | ICBC | JP Morgan |
CFP Roles and Responsibilities
CFP or Certified Finance Planner are mainly responsible for Planning Finance related activities or tasks of an Individual or an organization. Listed below some of the other job responsibilities of a Certified Finance Planner (CFP).
- Client Identification: It is very important to understand the client’s or company’s financial goals before starting the investment or any other finance related process.
- Assessing client’s financial status: CFP must have to know the client’s area of income, flow of income, different assets, debts and problem areas, apart from knowing the financial history of the client or the company.
- Financial Plan: After analyzing all the necessary factors, Certified Finance Planner (CFP) makes an investment plan for the client based on his/her income, financial history, etc.
- Financial Plan Implementation: CFP implements the plan after proving it from the client, and regularly checks and reviews it to ensure that the client is receiving or will receive the maximum benefit from it.
CFP Jobs: FAQs
Ques. What jobs can you get as a CFP?
Ans. There are a wide range of job opportunities one can find after completing Certificate Finance Planner (CFP) Course. One can get various types of jobs such as financial planning, tax services and planning, retirement planning, legal planning, philanthropic planning, estate planning, investment management and others.
Ques. How much money does a CFP make?
Ans. After the successful completion of the CFP course, candidates can land various lucrative and highly paid jobs. The average salary one can expect to earn at the starting of their career as a Certified Financial Planner (CFP) can be around INR 4,15,700 per year (?22,520 per month) depending upon various aspects like Region, Designation, etc. The average highest salaries of a CFP in India is around INR 12 lakhs per annum and can exceed more than 20 lakhs per annum with experience.
Ques. Is CFP a good course?
Ans. Yes, CFP is an excellent and a very good career option for those wishing to develop their career in the field of Finance. After the successful completion of the CFP course there are a lot of job opportunities as well as there is good scope for private consultancy as Financial Advisor. CFPs are mainly hired or employed in various sectors including Banks, NBFCs, Financial Institutions, Wealth Management companies, Mutual Funds, etc.
Ques. Can I get a job after CFP?
Ans. Yes, one can easily get a job after a CFP course, they can find lucrative job opportunities in banks, mutual Funds companies and other government or private organizations. Also they can start their own business.
Ques. Which is more valuable, MBA or CFA?
Ans. Both CFA and MBA are better, CFA is much cheaper than an MBA in any specialization such as Finance, Human Resources Management (HRM), etc. MBA is a Degree programme while CFA is a Certification program in Finance. Also CFP courses are mostly based on self-study and do not require a candidate to join any particular college, providing an additional advantage to the candidates.
Ques. What are the advantages of a Certified Financial Planner?
Ans. Certified Financial Planner or CFP is the most recognized Certification course in this field that increases employment rate at Mutual Funds, Wealth Banks, etc. This Certification course improves career progression, enhances crucial skills and boosts advisory services.
Ques. What does the CFP teach you?
Ans. CFP course imparts knowledge of various concepts related to Finance Planning and Management. Candidates wishing to develop their career in Financial Services can opt the CFP course. CFP course Syllabus comprises several modules related to Financial Planning, Risk Management, Investment Management and many others.
Ques. What are the 7 courses of the CFP?
Ans. CFP usually comprises 6-7 courses or more commonly known as CFP Modules. They imparts knowledge of various subjects or topics that are given below:
- Financial Planning
- Fundamentals of Insurance Planning
- Income Taxation
- Planning for Retirement Needs
- Investments
- Fundamentals of Estate Planning
- Personal Financial Planning
Ques. Can you self study for CFP?
Ans. Yes, one can enroll for various self-study CFP courses. For such courses candidates just need to register to the course provider's official website and pay the required fees. Self Study CFP courses are generally self paced courses and candidates can complete them according to their own pace.
Ques. What is CFP vs CFA?
Ans. There are a lot of differences between CFA and CFP, however in terms of working CFA graduates often work on the investment analysis with corporate clients, while a CFP course graduate builds a financial plan with individual investors.
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