What is the meaning of Financial Planning or Wealth Management?
Financial Planning is the science and art of Managing personal Finance. Following are the broad steps involved in Financial Planning.

• Determine the long tem and short term life-style objectives. Wealth Management term is usually referred to personal Financial Planning of high networth individuals (i.e. those having more than Rs.1 Crore capital).
• Identify, analyze and balance interrelationships among conflicting objectives. E.g. keeping more cash in hand against saving tax through investing aggressively or looking for high returns unwilling to take risk.
• Account and budget all aspects of Financial matters
• Integrate all the above parameters to plan income, investments, expenses, taxation, retirement planning etc.,

Why are professional Financial Planners' required?

• Planning of personal Finance requires specialized skills, knowledge and experience in areas like accounting, budgeting, investments (equity, debt, mutual funds, insurance, commodities and real estate), taxation etc.
• The scope of the above mentioned fields is so vast that some Financial Planners choose to advice their clients only with a single area (eg: investing in stocks or managing tax issues).
• When managed professionally the Financial Planning process can yield tremendous benefits to individuals.
• Professional Financial Planning has emerged as one of the most attractive avenues in India and abroad.
• In India, Wealth management' has emerged as a lucrative career option, yet there is an acute shortage of well-trained and
  certified professionals.
• This has opened up attractive career opportunities for CFP^CM.
  

Why CFP^CM certification improves your career prospects as a Financial Planner or a Wealth Manager?

• CFP^CM certification necessitates mastering a rigorous course of study approved by FPSB India.
• It's the only independently developed, national comprehensive examination (the CFP^CM Examination) for Financial Planning. There are a number of Companies who look forward to employing CFP^CM
• The certification imparts credibility to the portfolio of the self-employed.

What is the minimum qualification needed to take up the course for the AFP^CM and CFP^CM certifications?

• For AFP^CM certification, a candidate must have passed standard 10th exam.
• For CFP^CM certification, the candidate must have passed 10+2 level.

What is the difference between AFP^CM and CFP^CM certification?

• Completion of any one of the first four modules along with the mandatory module ensures qualification for AFP certification.
• For CFP^CM certification, all the modules need to be completed along with the required experience criterion.
  

Is there a time restriction to complete each module?
There is no time restriction to complete any of the modules. However, maximum time to complete the program is 7 years from the time of enrollment.

How long would it take to complete the 6 modules if taken in sequence?
The shortest time frame would be 9 months.

How many questions will there be in each module?
There will be approximately 75-80 questions in each module.

Can I complete the AFP^CM course and come back some time later to complete the CFP^CM course?
Yes, if the condition related to time restriction for completing entire course, as stated above is met with.

Is CFP^CM certification programme accepted in other countries?

• Yes, CFP^CM certification is recognized in the US , Australia , Singapore, UK etc.
• In countries like Malaysia and Canada, it is a mandatory qualification required to function as a professional Financial Planner.
  

What standards govern the professional conduct of a CFP^CM professional?

• CFP^CM professionals follow a professional code of ethics and practice standards set by FPSB, India.
• The CFP^CM Code of Ethics requires each CFP^CM professional to adhere to ethical and behavioral principles that ensure the client's best interests are always placed first.
• The CFP^CM Financial Planning Practice Standards describe what should happen during the Financial Planning process, providing guidance on how the CFP^CM Code of Ethics is practically applied in every Financial Planning situation each step of the way.

What is Financial Planners Standards Board India (FPSB India )?

• FPSB India is a non-profit organization dedicated to benefiting the public by leading the development of the Financial Planning profession in India.
• It sets, enforces and promotes the highest competency and ethical standards in Financial Planning as defined by individuals who have earned the Certified Financial Planer (CFP^CM) credential. FPSB India grants the use of the CFP^CM marks (CFP^CM, Certified Financial Planer, CFP^CM flame logo) to individuals who meet its standards.

How do Online courses work?
Students register and take courses via the Internet instead of classroom coaching. Registration is notified through e-mail along with directions on how to log in.

What does interactive, multimedia really mean?
Our goal is to make online learning not only convenient but an interesting learning experience. We want the students to appreciate the subject and enjoy the learning through our unique online learning material than just reading bare text. We've incorporated simulations, quizzes, problem solving, and exercises that require not just reading the text but also to undertake assignments. We put the students to take quick quizzes, an activity related to the study material after every 5-7 minutes.

How Financial Planning is done by professional Financial Planners?
Professional Financial Planners (FP) approach Financial Planning of their clients in 6 steps:

Step 1: Establishing and defining the client-FP relationship:

• Document the services to be provided to client defining both the parties responsibilities.
• The planner explains fully how he will be paid and by whom. Both the parties agree on how long the professional relationship should last and on how decisions will be made.

Step 2: Gathering client data

• FP asks for information about client's Financial situation.
• Client and FP mutually define client's personal and Financial goals.
• FP assesses the risk appetite of the client.
• FP gathers all the necessary documents.

Step 3: Analysing and evaluating Financial status

• FP analyses information (pertaining to assets, liabilities, cash flow, current insurance coverage, investments, tax strategies etc.) to assess client's current situation and charts out the strategy to meet the long term goals.

Step 4: Developing and presenting Financial Planning recommendations and/or alternatives:

• FP offers Financial Planning recommendations.
• FP explains every strategy to client.
• The plan is finalized after discussion.

Step 5: Implementing the Financial Planning recommendations

• FP offers to implement the final strategy or simply guides the client.
• He coordinates with other professionals like lawyers or stockbrokers.

Step 6: Monitoring the Financial Planning recommendations

• FP and the client agree on who will monitor progress towards client's goals.
• If the FP is in charge of the process, he reports to client, at a predetermined frequency, the feedback.