CFP or Certified Financial Planner is a very respectful career option if you are looking to make an impression on the financial sector. However, there is a myth (like what exists in most other job fields) that a fresher might not be able to get the same advantage compared to an experienced one after completing this course, which isn’t entirely true.
Even if you are a fresher, you can still be benefitted after completing the CFP Course if you have the fundamental knowledge about the subject. Having a basic understanding and knowledge about insurance and mutual fund is always essential for the candidate. This makes their hiring process a lot easier.
Job opportunities:
CFP is a certificate recognized internationally, and it will open doors to a plethora of opportunities for you. So, what are the career options a certified financial planner can expect? Let’s take a look.
Banking sector:
After earning your CFP certification, you can pursue a career in a bank’s wealth management division. Your responsibilities in this role will include advising UHNH and HNI and clients on necessary investment plans.
Non-Banking Financial Companies (NBFC):
Another form of a financial institution that hires CFPs is the NBFC or the Non-Banking Financial Companies. You will be responsible for explaining various items in this profile, including securities, shares, debentures, bonds, and so on.
Insurance Sector:
Here, you will be mainly responsible for assessing the client’s needs and then advising them on an appropriate insurance policy using a goal-based approach.
Mutual Fund Companies:
In today’s world, mutual funds are one of the most common ways to accumulate wealth in a reasonably safe manner but at a faster pace than savings accounts.
This is one of the most sought-after positions for a certified financial planner because it allows you to work with an Asset Management Company and recommend the funds best-suited to clients using a Financial Planning strategy.
Financial Planning Companies:
Financial Planning Companies is another excellent place to work after you’ve got your CFP certification. You will communicate with clients in this role, proposing financial strategies, which will then be implemented and monitored.
Compensation:
In India, CFPs can earn anywhere in the range of Rs. 2, 00,000-8, 00,000 yearly. The average salary of certified CFP professionals can exceed Rs. 3, 87,998 INR. According to a study published by the Economic Times, the best in the industry who control large portfolios of assets have earning potential ranging from Rs 1 to 2 crores INR.
These managers (wealth) are paid a fee of 28-30% of the revenue generated by the wealth management firms. IIFL Wealth Management, ASK Wealth, Avendus Wealth Management, and other high-paying recruiters are examples.
Final thoughts:
So, you’ve by now have figured out what’s behind the country’s soaring demand for CFPs. You’ve already seen what a CFP’s criteria are, as well as what would be required of you once you’ve earned your CFP.
Now that you’ve learned about the various job opportunities open to you do not waste your time; enroll in a CFP course. Complete the requisite curriculum, pass the certification test, and meet the professional experience criteria to become a CFP professional.
