Rising Demand, Limitless Opportunities: CFP Certification in India and Abroad
Krishan Mishra, CEO of Financial Planning Standards Board (FPSB) India discusses what skills and qualifications are needed to become a CFP professional.
Q: For someone hearing it for the first time, who is a CERTIFIED FINANCIAL PLANNER (CFP) professional?
Krishan Mishra: A CFP is a trained financial planner recognised across many countries. It is a credential that needs serious study, a long exam, real work in finance and a promise to follow strict ethics. FPSB India handles this process here, while global standards guide what we expect from candidates.
Q: What does the journey in India look like for someone who wants this certification?
Krishan: We speak of four Es.
Education: Minimum requirement is 10+2. Many candidates already have degrees. Professionals like CA, CFA, CS or MBA often come through a challenge route with fewer modules.
Exam: One exam that runs for six hours. Questions are built around real cases rather than memorising facts.
Experience: Three years of work without supervision or one year with supervision. Challenge route candidates need three years of relevant work completed within five years.
Ethics: Every candidate signs a commitment to follow our ethical rules and put client interest before anything else.
Q: People usually connect financial planners with personal finance. How are CFP professionals working inside companies?
Krishan: They contribute in many areas. Firms rely on them for ESOP planning, retirement plans, CXO compensation, key person insurance and decisions linked to financial risk. Many companies now run employee wellness sessions focused on money, and CFP professionals help design those programmes.
Q: Why should individuals or companies prefer a CFP certified adviser?
Krishan: A CFP focuses on complete financial understanding instead of product selling. For individuals, this means clear goals and suitable planning. For companies, this helps in building compensation and benefits that work well and follow rules. Ethical responsibility is part of the certification, so accountability is clear.
Q: What should young professionals do if they want to build a career in financial planning?
Krishan: Start by picking an approved education partner. We work with IIMs, NMIMS and several others. Choose regular or challenge route based on your background. Classes are flexible, so candidates manage them along with work or studies. After clearing the exam, they complete experience through internships or roles that many institutes help arrange.
India has around 2,500 CFP professionals at present. Demand is much higher. Banks, mutual fund houses, wealth advisory firms and consulting companies want trained planners. Independent practice is growing as well. Globally, CFP numbers have crossed 213,000, and India is still at an early stage of that expansion
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