Certified Financial Planner Salary in India With Job Roles

Certified Financial Planners (CFPs) are experts whose primary job is to help clients manage their finances related to investments, taxes, insurance, and even retirement planning. A professional certification in financial planning is mandatory to become a Certified Financial Planner. While CFP is a top-rated course for finance enthusiasts in foreign countries, the certification has grown in popularity over the last few years in India. A Certified Financial Planner’s salary in India can start from Rs. 2 LPA and average salary is

The demand for Certified Financial Planner’s is high in India, both in the government and private sectors. In fact, the CFP professional growth rate in India is among the top three globally, making it an attractive career option for finance enthusiasts. 

If you’re interested in pursuing financial planning as a career, read on to learn about who a CFP is, the various CFP job roles and the salary of a CFP across these roles.

Who is a Certified Financial Planner?

Certified Financial Planner is a formal designation awarded by the Financial Planning Standards Board (FPSB). CFP is a globally acknowledged credential in finance. The course consists of five exams of six modules.

Listed below are some of the roles and responsibilities of a CFP: 

• CFPs identify clients’ risk appetites and guide them in creating their investment portfolios accordingly.
• A CFP must know the client’s sources of income, the flow of money, debts, and asset details, among other information. 
• A Certified Finance Planner prepares individual investment roadmaps for their clients after analysing the latter’s critical financial details and identifying the problem areas. 
• CFPs help clients pave the path toward financial freedom by offering systematic goal-based planning for clients.
• A CFP tracks their client’s portfolio from time to time and advises them accordingly. 

CFP Salaries by Job Roles

Financial planning is a thriving field. As a result, the demand for CFPs is high across various sectors with diverse job opportunities. After completing the CFP course, you are eligible for different job roles such as Investment Banker, Portfolio Manager, Wealth Manager, Mutual Fund Manager, Client Service Associate, and many more. 

Listed below are some of these job profiles and their average annual salaries:

1. Financial Advisor

Financial Advisors guide clients on where, when and how to invest money. This job role has gained massive popularity, and professionals are hired for senior and junior-level posts based on their education, skills and competence.

• Salary: Rs. 2.5 LPA, which can go up to 7.8 LPA
• Hiring Companies: Deloitte, Raymond James, UBS, Bank of America, ICICI

2. Finance Manager

Finance Managers plan the budget for a company, offer financial insights to drive the best business decisions, and oversee a company’s financial health.

• Salary: Rs. 13 LPA, which can go up to 30 LPA
• Hiring Companies: HSBC, Genpact, ITC, ICICI Prudential, Atos

3. Financial Assistant

A Financial Assistant’s primary responsibilities include preparing balance sheets, updating financial reports, and generating invoices. You can become a Financial Assistant with a CFP certification.

• Salary: Rs. 2.4 LPA, which can go up to 7.0 LPA
• Hiring Companies: Deloitte, Accenture, HBD, Bajaj Finance, Manappuram Finance

4. Portfolio Management

A Portfolio Manager advises clients on investment policies and asset allocation while informing them about investment risks. Implementing investment strategies and creating and managing client portfolios fall within the job description of a Portfolio Manager.

• Salary: Rs. 7 LPA, which can go up to 30 LPA
• Hiring Companies: Capgemini, Mahindra & Mahindra Financial Services, Investors Clinic

5. Mutual Fund Manager

Being a Mutual Fund Manager is a wise career option for those who wish to explore their management skills. Mutual Fund Managers handle clients’ funds, assist them in making profitable investments and help plan financial goals depending on their objectives.

The primary role of a Mutual Fund Manager is to complete all financial paperwork related to Mutual Funds and oversee the legal requirements of any investment.

• Salary: Rs. 17 LPA, which can go up to 93.7 LPA
• Hiring Companies: Kotak Mahindra Bank, Wipro, HDFC Bank

Conclusion

There are ample career opportunities for skilled Certified Financial Planners. As per the U.S. Bureau of Labor Statistics, the demand for personal financial advisors will rise at a rate of 7% through 2028. Needless to say, a competent Certified Financial Planner’s salary in India can be huge. So, if you are an aspiring finance professional, you can check certification courses like CFA (Chartered Financial Analyst). Not only are these certifications globally recognised, but they teach you the essential skill sets you need to thrive in the finance profession. We at Zell Education are here to guide you through the admission procedure. Contact us to learn more.