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FPSB | Financial Planning Standards Board

FPSB | Financial Planning Standards Board

Fast Track Pathway to CFP® Certification

FPSB India recognizes the need for an accelerated pathway which tests the competency of professionals in financial services having
specified education qualification and relevant work experience.

UPON REGISTRATION THROUGH
THIS PATHWAY

EXEMPTION FROM
SPECIALIST EXAMS

This pathway tests the all-round financial planning knowledge, skills and abilities expected of CERTIFIED FINANCIAL PLANNER® professionals.

Eligibility Criteria

APPROVED QUALIFICATIONS/PROFESSIONAL CERTIFICATIONS:

CFA(USA), CPA from AICPA(USA), CMA (USA), CMA(India), ACCA(UK)

CA from ICAI, CA(Inter) with Bachelors Degree & 3 year Articleship

Fellow Member of Insurance Institute of India 
(Life/General)

Advanced Wealth Management Course, CAlIB+B.Com from IIBF

Postgraduate degree in Economics, Commerce, Finance/Financial Planning from a UGC approved University

MBA (all streams) and PGDM (all streams) from an AICTE approved institution/Ministry of Education approved institution/such other Indian or Foreign institution or business school

WORK EXPERIENCE CRITERIA

At least three years of prior work experience at the time of submission of documents will be considered in case of employees of any bank, non-banking Finance Company (NBFC, Mutual Fund Asset Management, Insurance Company, Securities Company, Portfolio Manager, Brokerage, Registered Investment Adviser (in the capacity ‘persons associated with investment advice’), Treasury Department of a Company registered with the RoC and *Academic institution or FPSB India’s Authorized Education Provider.

ELIGIBILITY OF FAST TRACK PATHWAY FOR OTHER PROFESSIONALS

FPSB India offers this accelerated route to the following category of Professionals also:

Candidates whose CFP® Certification lapsed 5 years and prior

Candidates who had passed CFP® Exam 5 years and prior

SEBI Registered Investment Adviser (RIA) with active license

CFP® professionals in good standing with one of the Affiliate bodies of FPSB Ltd.

Existing Regular Pathway candidates who deem themselves eligible for Fast Track Pathway

Road Map to CFP® Certification

ELIGIBILITY CHECK & REGISTRATION

  • Fill out the application form online, upload scanned copies of relevant documents and pay the document verification fee.
  • Upon approval, pay a consolidated fee for registration and purchase of course material.
  • Candidate may register through an Authorized Education Provider or self-study.

EDUCATION

  • Access the Student Portal – myFPSBLearning.
  • Complete the education to be eligible to take the CFP® Exam / *Financial Plan Assessment (FPA).
  • Candidate must complete the Global Ethics course on the student portal before taking the CFP® Exam.

CFP® EXAM & FINANCIAL PLAN ASSESSMENT

  • Exam Registration Window is open on the student portal from 1st – 5th of every alternate month.
  • Exam Duration: 3 hours, Two sections in multiple choice format with 25 stand-alone Questions and 25 Questions based on a Case Study.
  • Online proctored/ in-person at **NSE Test Centres.
  • Conducted every alternate month.
  • For FPA- Candidates prepare a financial plan on a provided Case Study. Assessment cycle for the same occurs every alternative month.

CERTIFICATION

  • After successfully clearing the CFP® Exam and the Financial Plan Assessment (FPA), apply for the CFP® certification on the student portal.
  • Complete CFP® Professional Ethics Declaration on your student portal.
  • Pay initial certification fee to become certified as a CFP® professional.

How to apply?

Applicants, on being satisfied that they meet the education and experience criteria above, shall fill up a form in FPSB’s portal MyFPSBLearning, shall submit scanned copies of relevant documents and shall pay the document verification fee. Upon verification and subsequent approval of the criteria, FPSB shall authorize the candidate to register (through an Authorized Education Provider or self-study) by paying a consolidated registration fee and the courseware fee.

FPSB reserves the right to approve the documents toward qualification and experience. The process of document verification may take up to 20 working days. Applicants whose documents are not approved as satisfactory may have the option of registering in the Regular Pathway. 

Evaluation Process and Maximum Duration for completing the course:

The registered candidates shall prepare a financial plan on a given Case Study in an Assessment Cycle. On successful assessment of their submitted financial plan, they shall advance to the stage of writing the CFP® Exam.

The Assessment Cycle starts on or around the 15th of every alternative month (say on 15 Jul, 15 Sep, 15 Nov, …) with the posting of a case study in the eligible candidate’s portal account.  Candidate shall construct a financial plan in roughly the next 30 days (say by 16 Aug, 17 Oct, 15 Dec, …). The plans are assessed by experienced CFP practitioners over the next one month and the results of assessment are notified by the end of that subsequent month (say by 30 Sep, 30 Nov, 31 Jan, ……). Candidates who pass Financial Plan Assessment stage are then eligible to enroll in the immediate Exam Registration Window (between 1-5 Oct, 1-5 Dec, 1-5 Feb, …) and appear in the CFP® Exam that takes place later in the same month on a Monday/Wednesday between dates 19th and 25th of the same month (say on 19 Oct, 19 Dec, 20 Feb, …)

Candidates shall be required to complete the Global Ethics course in their portal before taking the CFP® Exam. After passing the CFP® Exam, they shall also complete CFP Professional Ethics Declaration and pay an initial certification fee to become certified as CFP professionals.  

A candidate in the Fast Track Pathway shall be eligible to complete the above within a maximum period of three years, with annual renewals from the date of initial registration. However, as can be seen from the above Cycle progression, the minimum period needed shall be just over four months.  

Annexure

ITEMFEE
Document VerificationRs. 5,000
Registration (Subject to Approval) + Full course material (IPS/RTPS/REPS/IFP) – BUNDLED PRICERs. 34,000
Financial Plan Assessment + CFP® Exam BUNDLED PRICERs. 25,000
Financial Plan Assessment (Retake)Rs. 12,000
CFP® Exam (Retake)Rs. 12,900
CFP® CertificationRs. 10,500
Annual Renewal Fee CFP® CertificationRs. 10,500
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