Career Option for Women – Certified Financial Planner

Women, the better investors? Find out by becoming a Certified Financial Expert!

Investing is often viewed as a man’s world but women have all the qualities required for successful investing but very few utilise these capabilities. WSquare hosted a work shop to put spotlight on Financial planning, a guide to women on how to efficiently plan your finances. You ask what’s WSquare?  WSquare is an Eco-system for women who shuffle between home and work, WSquare offers women that needed space in their comforts. The workshop was addressed by Soumya Ramalingam a CFP(certified financial planner) also Chartered Trust and Estate Planner. She focused a bit more on women , who want to have a second career or someone who wanted to have equal balance between home and work also to bring an awareness on how finances can help you settle. Basically, certified financial planners are professionals who help clients achieve their Financial goal. So, why financial planning?  

Fundamentally, if you have life goals, such as a worry-free retirement, education for your children at the best schools and colleges, buying a house or a car, then building a financial plan can help you achieve these goals. The benefits of financial planning include;

  • Categorising your risk appetite
  • Numbering your goals (what is achievable and what looks difficult)
  • Mapping your current and future cash flows 
  • Making a statement of your net worth
  • To focus on adequacy of your insurance
  • To help you build a corpus for your retirement
  • Recommendations for your portfolio.

The importance of financial planning cannot be overemphasized, she said. Inflation is among the other important factors that matter a lot, it is the situation in which the rate of general level of prices for goods and services is rising and, accordingly, the purchasing power of currency is falling. Financial planning can make certain that you are better equipped to deal with the strike of inflation, especially in retirement when expenses continue but income sources dry up. The other factor is changing lifestyles. With higher discretionary income, it is common for individuals to upgrade their standard of living. For example, cars were considered luxuries not too long ago but are a now necessity. Financial planning has a role to play in helping individuals both upgrade and maintain their lifestyle. Soumya Ramalingam compared Lord Lakshmi and Lord Kubera. A Hindu mythology, According to her, Kubera is by all accounts a keeper and distributor of wealth, whereas Lakshmi is herself the wealth being distributed. Hence, she proves women are better wealth keepers.

And now if not consult a CFP become a CFP. CFP Certified Financial Planning is among the fastest growing careers in the world. In India, the international CFP certification is awarded by the Financial Planning Standards Board of India. The estimated demand of financial planners is around 50,000 CFPCM professionals in Banking and Financial Services Industry in India. However, till March 2014, India has only 1849 CFPCM professionals. This makes CFPCM Certification to be amongst one of the most sought after certifications. An increasing number of multinational banks such as ICICI Bank, Standard Chartered Bank, American Express Bank and others have made it mandatory for their Relationship Managers to acquire the CFP certification in order to raise current service standards to optimum level.  Regulatory bodies like SEBI, IRDA, PFRDA etc. are also gradually educating and encouraging consumers to consult CFPs for their financial needs. Along with this, Charter Members of FPSB India have resolved that they will give first preference to CFPCM Charters during recruitment. This makes CFPCM Certification to be amongst one of the most sought after certifications.  

 Who can do a CFP?

  • Students pursuing/completed B.Com / BMS / BBA / BBI / BAF / BFM / M.Com
  • Other Undergraduates / Graduates looking for a career in Finance
  • MBA / CA / CA Inter
  • Professionals working in Banking & Financial Services Industry.
  • Housewives.

Where to do CFP?

ENNSIGNN ADVISORY SERVICES PVT LTD is a good  choice when it comes to doing a CFP certification. After successful completion of the CFPCM which will be imparted with a lot of practical approach, the students will be ready to offer financial counselling pertaining to insurance, retirement, tax, investment and estate planning.

Module I- Introduction to Financial Planning

Module II – Risk Analysis & Insurance Planning

Module III – Retirement Planning & Employee Benefits

Module IV – Tax Planning & Estate Planning

Module V – Investment Planning

Module VI – Advanced Financial Planning.

 

For more such blogs and workshops contact WSquare at 044-48540085 also give us a thumb up on our Facebook page: https://www.facebook.com/wsquarework/ .  

For information on CFP course and certifications contact Soumya Ramalingam ENNSIGN advisory services Pvt Ltd.

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