The CFPCM Certification is attracting the attention of a wide cross section of
the student and professional community in India. There have been expressions of
interest from professionals as diverse as Chartered Accountants, Masters of
Business Administration, Engineers etc. as well as from persons employed with
some of the biggest financial service organizations in the country. However,
such expressions of interest have not always translated into registrations for
the course due to the apprehension that their hectic schedules will not permit
them to devote adequate time for academics.
FPSB India recognizes that these professionals already possess certain skill
sets and proficiency which is expected of Financial Planners. Hence, in order
to enable eligible professionals (both in terms of education as well as
experience) to acquire the CFPCM Certification in a more time efficient manner,
FPSB India has introduced a fast track Certification Program in line with
global certification practices which has been christened as “Challenge Status
Program”.
Only candidates who are Graduates from a Recognized University and having the
following additional Educational Qualifications or equivalent would be eligible
under the Challenge Status Program:
| 1 |
Chartered Accountant (CA) / Intermediate level from Institute of Chartered Accountants
of India (ICAI) |
| 2 |
Chartered Financial Analyst (CFA) from CFA Institute, USA |
| 3 |
Cost Accountant (ICWA) from the Institute of Cost and Works
Accountants of India (ICWAI) |
| 4 |
Certified Associate of Indian Institute of Bankers (CAIIB) |
| 5 |
PhD./ M.Phil in Economics, Econometrics, Statistics, Commerce,
Mathematics, Finance, Management, Financial Planning/ Advising, Investment (or
any other similar discipline)
|
| 6 |
Post Graduate1 in Economics, Econometrics, Statistics,
Commerce, Mathematics, Finance, Management2, Financial Planning/
Advising, Investment (or any other similar discipline) |
| 7 |
LLB (Law) or equivalent |
| 8 |
Licentiate/Associate/ Fellowship of Life Insurance from Insurance
Institute of India
|
| 9 |
Actuary from Institute of Actuaries of India
|
| 10 |
Civil Service Examinations by Union Public Service Commission
(UPSC)3 |
| 11 |
Company Secretary from Institute of Company Secretaries of India. |
| 12 |
Fellow, Financial Services Institute (FFSI) / Fellow, Life
Management Institute (FLMI)from LOMA |
1. Candidates with Post Graduation in Management (other than Finance)
qualifications need to have compulsory SEBI/ IRDA mandated Certification as
well.
2. Post Graduation qualification implies at least two years’ of full time
education in an education institution: Alternatively equivalence as recognized
by appropriate statutory authority viz. UGC/AICTE etc. as Post Graduation
qualification (deemed) may also be considered.
3. Candidates having cleared the Civil Service Examinations (Mains) conducted
by Union Public Service Commission (UPSC) in the prescribed subjects viz.
Commerce, Engineering, Economics, Law, Mathematics, Management, Physics and
Statistics and having at least 3 years work experience OR candidates having
cleared the Services Examinations conducted by Union Public Service Commission
(UPSC) and having at least 3 years work experience in Accounts, Finance and
related Departments shall also be eligible to appear for the Challenge Status
Program.
PGDFA from IIBF: FPSB India has entered into a Memorandum of Understanding with
Indian Institute of Banking and Finance (IIBF) allowing the candidates who have
successfully cleared IIBF’s Post Graduate Diploma in Financial Advising (PGDFA)
to attain CFPCM Certification through the Challenge Status Program.
With reference to “Experience” the following
criterion is mandated:
| 1 |
Job In Financial Institution1 |
3 years |
| 2 |
Self Employed1 |
3 years |
| 3 |
Others3 |
5 years |
1. This indicates full time employment with the organization. Financial
Institutions are defined as Asset Management Companies, Banks, Distributors,
Insurance Companies, Distributors, and Portfolio Management Services (PMS).
Establishments should be registered with Reserve Bank of India (RBI),
Securities Exchange Board of India (SEBI), Insurance Regulatory Development
Authority (IRDA) or any other appropriate authority accordingly.
2. Work Experience relevant for candidates under S. No.1 & S. No. 2 has
been defined as experience in Personal Finance Department / Division, wherein
the candidate’s job-profile has been to interact/interface directly with the
client and / or his portfolio.
3. Indicated candidates with prescribed educational qualifications but no
experience working in any of the Financial Institutions as given in S. No.1
above.
Qualifying work experience is based on a 35-hour
workweek and is defined as full-time (or equivalent part-time) personal
Financial Planning services/ related employment or self-employment. In the
performance of their job, candidates must have actively used the knowledge,
skills and abilities required for the Certified Financial Planner Examination
(for a listing of topics, please refer to the Certified Financial Planner
Syllabus and the Experience gained should help the candidate in the application
of the personal Financial Planning process to meet client needs. This
Experience can be gained in the following areas provided it meets the
conditions listed above;
 Accounting |
| Banking/Trust |
| Consulting |
| Estate
Planning |
| Financial
Planning/Management |
| Securities/Investment
Funds |
| Taxation |
| Journalism/Writing
on Personal Finance |
| Law |
| Insurance |
| Retirement/Pension
Planning/Employee Benefit |
| Portfolio/Investment
Management |
| Teaching
at a post-secondary level |
Other relevant experience will be considered on a case-by-case basis. To verify
their experience, candidates must submit an up-to-date résumé detailing
previous work experience, including specific start and end dates with their
examination application. They must also include a letter signed by their
supervisor or manager detailing the candidate's current position, nature of
activities, work start date and the signatory's contact information. Candidates
who do not meet the Experience requirement will not be eligible for the
Challenge Status Program.
The application for this Program will be accepted
after appropriate verification, and it may be noted that meeting the
above-mentioned Qualification and Experience criteria does not automatically
deem the candidate eligible for the Challenge Status Program. Candidates must
provide attestation from their governing Professional Body/ Gazetted Officer
confirming their membership / qualification is in good standing/in order. PhD.
candidates must provide proof of successful completion of the specific PhD.
program.
| 1 |
FPSB India |
Rs. 20000 |
Registration Fees valid for 1 year, Basic Study Material, Administration & Processing Fees |
| 2 |
Education Provider |
Rs. 15000 |
Registration Fees valid for 1 year, Administration & Processing Fees |
| 3 |
IIBF-PGDFA |
Rs. 15000 |
Registration Fees valid for 1 year, Administration & Processing Fees |
| 4 |
Charter Member
(Extended Special Offer) |
Rs. 2000 |
Registration Fees valid for 1 year, Administration & Processing Fees |
Kindly note that the Exam 5 Fees of Rs. 5,000/- has to be paid at the time of exam enrollment on the NSE website
|
|
Introduction to Financial Planning - Taxmann Publications/IIBF |
|
|
Insurance Products (Including Pension Products) - Taxmann Publications/IIBF |
|
|
IC-33 Life Insurance - Insurance Institute of India |
|
|
IC-34 General Insurance - Insurance Institute of India |
|
|
Mutual Fund Products & Services - Taxmann Publications/IIBF |
|
|
In the wonderland of Investment - A.N. Shanbag (Standard Book Co.) |
|
|
Students Guide To Income tax (Student Edition) - Dr. Vinod k. Singhania (Taxmann Pub.) |
|
|
Investment Analysis & Portfolio Management - Dr. Prasanna Chandra (McGraw – Hill) |
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