Lots of my friend ask me on how to become a Certified Financial Planner. Of course we must study first to become a certified financial planner but how?
I got my answer when I google it.
According to FPAM, the candidates must meet four requirement of the certification process that is Education, Examination, Experience and Ethics. That is 4 E that you are required to meet.
For Education, you must complete acedemic course of financial planning which consist of 6 module.
- Foundation in Financial Planning
- Risk Management and Insurance Planning
- Tax Planning
- Investment Planning
- Retirement Planning
- Financial Plan Construction and Professional Responsibilities
After that, Examination which means that you are eligible to take the certificate examination after you complete your Education process. The examination should be tough as they want to produce the CFP so that they can perform on appropriate level for the public.
Next is Experience where you must understand the counselling nature of personal financial planning. You are required to have 3 years of experience, performed before of after you complete the examination. This is what FPAM define the experience requirement.
And then Ethics which you can find it here.Experience requirement is defined as the supervision1, direct support2, teaching3, or the personal delivery of all or part of the personal financial planning process to a client4. Qualifying experience must be able to be categorized into the six primary elements of the personal financial planning process summarised below:
- Establishing the client-planner relationship.
- Gathering client data.
- Determining the client's financial status.
- Developing and presenting a client-specific financial plan tailored to meet the goals and objectives of the client.
- Implementing the financial plan.
- Monitoring the financial plan.
After all the above process, you can now receive an application form for certified membership. Once certified, you are required to study more so you will be up-to-date on planning strategies and financial trends that will affect your future clients.
Next year, I will try to take this certificate financial planning. So that one day I can become a certified financial planner myself. If want to know more on certification, you can go to FPAM website.
2 comments:
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