Certified Financial PlannerCM v/s Chartered Wealth Manager® | ApnaCourse

by | Feb 23, 2017 | Financial Management

As most of you are aware, Certified Financial Planner and Chartered Wealth Manager are two most sought after Global Certifications in the Personal Finance space. The general question that arises is whether one should pursue the Certified Financial Planner course first or the Chartered Wealth Manager course first. At the first instance, an individual would like to pursue both these Global Certifications because of the proximity it has towards the work profile. Following are certain important points that are to be kept in mind regarding these courses.

  • Certified Financial PlannerCM: This course is provided by Financial Planning Standards Board India. The candidate will have to take 5 examinations if he/ she has enrolled through ‘Regular Pathway’, else just 1 examination if enrolled through ‘Challenge Status Program’. This course predominantly covers aspects such as Risk Management and Insurance Planning, Retirement Planning, Investment Planning, Tax and Estate Planning and Comprehensive Financial Planning. Looking at these topics, we can expect a strong foundation that would be laid for an individual who would be entering the Personal Finance space.
  • Chartered Wealth Manager®: This course is provided by American Academy of Financial Management, US. There are two Levels in this course – Level 1 and Level 2 covering wide range of topics such as Investment strategies, Life Cycle Management, Intergenerational Wealth Transfer, Relationship Management, Behavioral Finance, Alternative Products and much more. At the first instance, the topics look very comprehensive and maybe “too heavy”. Perhaps, one should understand that Wealth Management is a wider concept than Financial Planning.

Having both the options open, one might be confused to pick between the two courses. It finally boils down to “your perspective”. Ideally, one can take up Certified Financial PlannerCM course to start with and follow it up with Chartered Wealth Manager® course immediately without leaving much gap between the two courses. This is because the CWM® course, being quite comprehensive, has few additional topics as compared to CFPCM. Hence, one can brush-up the topics already covered under CFPCM course and get trained on the additional topics that are covered in the CWM® course that would just need couple of additional months of preparation!

By following this methodology, one can have two Global Certifications under his/her belt within a year!! Isn’t that sounding great? Then, what are you waiting for? Go, treat yourself with both the Certifications!!

Lakshminarayanan R, CA,CFP,CWM,CertIFR
A Chartered Accountant, a Certified Financial Planner (CFP) and a Chartered Wealth Manager (CWM) with 6+ years domain experience in Financial Planning and Wealth Management. He is the director at Fourth Dimension Wealth Management Services (P) Ltd. and was the proprietor at Intelliplan Investment Advisors. Read More.

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