It is well known that today’s high cost of inflation has shifted the focus of human living from personal and family goals to various dreams to match up with the economy’s take off.  This has led for a proper structured financial planning.


Financial planning is the process of meeting life goals through a step by step approach in managing finances. Precisely, this enables turning our dream into reality, which of course requires a proper planning.  To have a good Financial Plan in place and to achieve the goals, adequate information about various investment options and factors like time horizon, taxes, inflation and risks are required. Before proceeding let us understand as to what Inflation is?

  • Inflation is the rate at which the value of currency decreases which in turn increases the prices for goods and services.
  • In simpler terms, Inflation means, money cannot buy the same amount of goods in the future.
  • For example, at 5% inflation, 1kg sugar that costs 40 rupees now will cost 65 rupees after 10 years.

This means in a competitive environment, with a high income, jobs are not easily available, and medical advancement has ended up in longevity of human life. That is,  money should always be available during emergencies. Thus, the personal human goals can be categorized in to Short Term Goals, Medium Term Goals and Long Term Goals which in turn is related to the amount of time taken in accomplishing the goals and the financial commitment in achieving them.

SNo Goals Details
1 Short Term Goals Milestones are one or two years away (Ex: Travelling within the country, paying off debt, buying a car, losing weight, getting a job etc.,)
2 Medium Term Goals Milestones are three to five years away (Ex: Renovating a house, holidaying abroad, conducting daughter’s wedding, etc)
3 Long Term Goals Milestones are more than 5 years away (Ex: running own business, paying for children’s higher education, retiring from work etc.

Now let us understand about Savings and Investments. It may be understood that both Savings and Investments are two sides of the same coin.

  • Savings is the money left after accounting for expenses. Investing is the process of growing this money.
  • Savings are the raw material; investing is the process one has to go through to get the yield.
  • Savings help plan for future goals and investing wisely helps achieve those goals.

This means, that a person should begin with saving and invest those savings in appropriate investment options to reach the next level.  Possibly, at this point, a question may arise as to WHY DO I NEED FINANCIAL PLANNING? You need Financial Planning in identifying various investment avenues that contribute to your savings. Here is where the need to understand as to WHAT FINANCIAL PLANNING IS arises.


A study conducted by TD Ameritrade, an American brokerage firm found some interesting facts:

  • People who have a financial plan are more likely to be in control of their finances than those without one. Those with a plan feel that they have a good grasp on their investments and understand how their assets are allocated.
  • Those who have a financial plan also have a lot more confidence in their ability to reach their personal retirement goals.
  • Those with a plan also tend to have higher savings goals for retirement. But while planners may be inclined to aim higher than non-planners, what’s more telling is the fact that planners actually save more. In fact, those with a plan have almost double the amount of retirement savings as those without one.

Comprehensive financial planning

This is an integrated approach to monitor all aspects of a financial situation which include:

  • Insurance & Risk Management:
  • Investment Planning
  • Tax Planning
  • Retirement Planning
  • Employee Benefits
  • Estate Planning (Note: Please note that changes in one area can impact the other areas)

With the rapid growth of the Indian financial industry, the need for financial planners has indeed become imminent.  In India, leading industry giants from financial services sectors are into the task of promoting the concept of financial planning among the customers and professionals.


  • CFPCM OR CERTIFIED FINANCIAL PLANNERCM is an international certification program.
  • It is a professional certification in the rapidly growing field of financial planning, wealth management and financial advisory services
  • It is rated as Gold Standard in Financial Planning

Benefits of CFP Certification

Survey of 91 Financial Firms, over 120,000 advisers across 12 countries reveals that:

  • 78% CFP provide better guidance to clients
  • 69% growth in Asset Management Portfolio
  • 67% agree that hiring of CFP reduces corporate risk
  • 61% agree that hiring of CFP reduces client complaints
  • 76% reported to have better client retention after hiring CFP
  • 84% reported positive impact on client satisfaction
  • The educational process provides the financial planning knowledge needed to serve clients better – resulting in increased client satisfaction and client retention.

About FPSB India

  • FPSB India is the principal licensing body that awards CFP certification in India
  • It is an affiliate of Financial Planning Standard Board (FPSB) based in Denver U.S.A.
  • It provides a pathway for members to develop the necessary skills and knowledge to become successful financial planners
  • It is worth mentioning here that the CERTIFIED FINANCIAL PLANNER credential is the most desired and respected global certification for those seeking to demonstrate their commitment to competent and ethical financial planning practice.
  • In fact, there are nearly 160,000 Elite CFP® professionals globally.


  1. 59 PER CENT OF CFPCM professionals have shared that CFPCMcertification has a positive impadt on their salary/compensation by way of increased compensation and client base within a short span of 12 months of getting certified.
  2. 86% of CFP® professionals reported being “very satisfied” with their career choice
  3. 91% recommend CFP® certification to other financial professionals.


  • Certified Financial Planners have an impact on a variety of individuals and groups, including:
  • Public: Consumers rely on the CERTIFIED FINANCIAL PLANNER marks to help them identify competent, ethical financial planners who have committed to placing their clients’ interests first.
  • Firms: Financial services firms value CERTIFIED FINANCIAL PLANNER professionals for their contributions to productivity and profitability, as well as for lowering firms’ compliance risks and increasing client satisfaction.
  • Regulators: CERTIFIED FINANCIAL PLANNER professionals rating is based on compliance to relevant laws and regulations, adherence to an ethical code and acting in the best interest of clients.

Now let us see as to what some of the CFP professionals say about the CFP program:

(1) Nimesh Mehta: Marketing and Sales Professional

“It helped me in my current role; I can understand the gaps in our product offering, which in turn helps me conceptualize newer equity products. It helped me view products both from a customers and distributor’s point of view.”
SOURCE: https://www.careers360.com/news/4973-Course-review-certificate-financial-planner-CFP

(2) Arnav Pandya, Independent financial planner and trainer

“The certification brought me in contact with Financial Planners across the world. This helped me benchmark my efforts to world class standards and provide a comprehensive perspective on issues affecting the finances of my clients.”
SOURCE: https://www.careers360.com/news/4973-Course-review-certificate-financial-planner-CFP

(3) Mrs. Kavita Chhabria, LIC Agent

“Earlier, I was selling what my DO / NJ shared…Now my concepts / calculations are clear…So, I will do first Need Based Planning and suggest suitable products.  Its client’s hard earned money, so my responsibility is to provide right guidance. And now I am sure that can give best & accurate guidance.”
SOURCE: https://www.linkedin.com/pulse/housewife-cfp-practitioner-india-s-best-expert-coach-fasttrack-cfp-

Pursue your goals even in the face of difficulties, and convert adversities into opportunities – Dhirubhai Ambani


Comments ( 2 )

  • Subhendu Sahoo

    Are u provide vedio lecture for cfp.
    Any branch in bhubaneswar

    • Admin Bankedge

      Thank you for your queries.

      1. At present we do not have Video lectures for CFP programs. However, in due course we have plans to go for such Video sessions, which would give you more clarity on the subject.
      2. As of now, we have been conducting the CFP programs, at selected centres, through class room sessions and further inclusions would be coming up in the days to come.
      3. We do not have any centre at Bhubaneswar at present. However, we are planning to open a centre through Franchisee operated mode. Once the centre comes up definitely we can think of introducing CFP program also at the centre.

      Meanwhile, if you are interested in taking up our Franchisee license or if you have plans to introduce any person from your area, for taking up such Franchisee operations, please feel free to contact us at https://bankedge.in/franchise/ and we shall be obliged to help you, with the details therein.

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