CFP Job Sectors, Job Profiles, Salary: The role of a certified financial planner is to assist clients with their choice of insurance policies, retirement plans, investments, and taxes. Meeting with clients, looking into fresh opportunities, and evaluating financial data are all part of their duties.
CFP in full After passing the five tests of the six modules, the Financial Planning Standards Board (FPSB) offers the Certified Financial Planner course. The CFP certification, which is available in both online and offline formats, is a globally recognised and acknowledged Certificate in Finance.
After completing the CFP course, graduates can find attractive and well-paying employment prospects in a variety of industries, including private banking, mutual fund and insurance businesses, wealth management firms, and investment consulting companies, among many others.
Job Profiles in CFP
Graduates of CFP programmes can work in a variety of high profile and respected job categories, including Financial Advisor, Wealth Advisor, Cost Analyst, etc. The typical yearly income ranges from INR 3-5 lakhs, depending on the company, the region, and other factors.
The different career profiles for CFP course graduates, along with their job descriptions and average annual earnings, are tabulated here.
| 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 |
Job Sectors in CFP
CFP jobs include a wide range of career options and are accessible in many industries. Graduates of the Certified Finance Planner (CFP) program can find employment in a variety of fields, such as investment banking, portfolio management, and financial consulting.
The banking industry is another promising and fruitful field for the chosen people. Many positions such as controller’s assistant, treasurer, credit manager, and case manager are available for CFPs in banks. Graduates of CFP programs have the option of starting their own independent consulting business and working as a tax planner, insurance advisor, or debt management specialist. The scope of CFP jobs makes it simple to choose a position with a salary that is ordinary.
| Banking | Insurance Firms | Consulting Firms |
| MNCs | Tax Consultancies | Brokerage |
| Wealth Management | NBFCs | Law Consultancies |
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CFP Jobs: Top Recruiters
Some of the top recruiting companies that hire Certified Finance Planner (CFPs) are tabulated below:
| SBI | RBI | ICICI |
| Visa Inc | Amazon | Standard Chartered Bank |
| IRCTC | ICBC | JP Morgan |
Roles and Responsibilities of the CFP
The primary responsibility of a CFP, or Certified Finance Planner, is to plan financial-related tasks or activities for an individual or an organization. Several more duties of a Certified Finance Planner are outlined below (CFP).
- Before beginning an investment or any other finance-related transaction, it is crucial to understand the client’s or company’s financial goals.
- Assessing a client’s financial situation requires a CFP to be aware of the client’s sources of income, cash flow, various assets, debts, and problem areas in addition to the client’s or the company’s financial history.
- Financial Plan: A Certified Financial Planner (CFP) creates an investment plan for a client based on the client’s income, financial history, etc. after considering all relevant criteria.
- Financial Plan Implementation: After receiving approval from the client, the CFP puts the plan into action.
- They then verify and review it on a regular basis to make sure the client is getting the most out of it or will.
FAQ
Ans. One might find a variety of jobs after completing the Certificate Finance Planner (CFP) Course. One can find positions in a variety of fields, including investment management, tax services, retirement planning, legal planning, philanthropic planning, and financial planning.
Ans. Candidates who successfully complete the CFP course can find a number of well-paying positions. The average compensation a Certified Financial Planner (CFP) may anticipate making at the beginning of their career is roughly INR 4,15,700 per year (?22,520 per month), based on many factors like Region, Designation, etc. The average annual salary for a CFP in India is roughly INR 12 lakhs, however, with experience, that salary can rise to more than 20 lakhs.
Ans. Yes, CFP is a fantastic and very good career choice for people looking to advance in the finance industry. Following its triumphant conclusion.
Ans. Yes, it is simple to obtain employment after completing a CFP course. Lucrative career prospects can be found in banks, mutual fund firms, and other public or private organizations. They may also launch their own business.
Both the CFA and MBA are superior; but, the CFA is far less expensive in any area of specialization—finance, human resources management (HRM), etc.—than the MBA. CFA is a certification program in finance, whereas MBA is a degree program. Additionally, CFP courses are primarily oriented on self-study and do not need a candidate to enroll in a certain college, giving applicants an added advantage.
The most well-known certification program in this profession, the Certified Financial Planner (CFP) designation, enhances employment rates at wealth banks, mutual funds, and other institutions. This certification program accelerates job advancement, strengthens vital skills, and expands consulting services.
The CFP course teaches students about a variety of financial planning and management ideas. The CFP course is an option for those who want to advance their careers in financial services. Numerous modules on financial planning, risk management, investment management, and other topics are included in the CFP course syllabus.
The CFP typically consists of 6-7 courses, often known as CFP Modules. They share knowledge about the following issues or topics:
Fundamentals of Financial and Insurance Planning
Income Tax Planning for Needs in Retirement
Investments
The Basics of Estate Planning
Ans. You can sign up for a variety of self-study CFP courses, yes. Candidates only need to register on the official website of the course provider and pay the necessary fees for such courses. The majority of self-study CFP courses are self-paced, allowing candidates to finish them at their own time.