These are the areas of expertise that you will gain after attaining the CFP CM Certification
Insurance planning provides that major risks for the clients are covered. Insurance covers only financial loss which is caused by various risks. As part of this, the planner needs to plan for:
Investment planning is more than just buying and selling securities. It helps people to meet their financial goals by investing in suitable investment strategies. These financial goals are met through creating financial resources by investing savings generated over time. Every client has different levels of risk appetite and thus the invested needs of every client are different. The main part of investment planning consists of deciding on an asset allocation.
The financial planner has to work out an investment strategy to invest the saving across various asset classes in a suitable ratio. This would enable the money to grow at a rate which would help the client meet the objective and goals which have been decided. A financial planner should have a thorough understanding of different investment products and the cost associated with them.
The purpose of retirement planning is to ensure that the client will be able to maintain his/her current standard of living after retirement, even in the absence of regular cash inflows. Planning for retirement is amongst those things which people do not take seriously. It is better to be prepared rather than wait for the problems to come. A financial planner always suggests that one should plan for the retirement.
The computation for retirement is actually a reversed calculation process. In other words, financial planners need to know how much you will spend post-retirement in order to estimate how much you need to save now. In this way, a financial planner is able to estimate your needs after retirement and makes you invest in financial instruments in such a way that at the time of your needs they would be sufficient to be able to cover your retirement needs. In other words a financial planner creates a strategy to create sufficient financial resources to meet the retirement needs of the client.
In order to save taxes, people usually put their money in those financial instruments which help in saving taxes without even considering that whether the returns are good or not.
As a financial planner, he is not supposed to prepare income tax return of the client, but instead identify potential tax savings opportunities. Depending upon The prevailing tax laws, tax savings may be available on investments made in insurance, stocks, etc. The financial planner’s job is to help the client minimize taxes, not evade them.
Most of us neglect estate planning and consider that wealthy individuals are the ones who need it. Regardless of whatever money you have estate planning is a must. It helps you live in peace as you are assured that your loved ones will get your assets when you die.
The financial planner should ensure that the client makes a will and appoints an executor to his estate during his lifetime, He should also ensure that appropriate nominations for all assets are in place. He or She should guide the clients in setting up the distribution of his estate in a manner that minimizes the tax impact on the heirs.
Cash Flow Management
Cash flow management is a very important aspect of financial planning. It is a vital component of the financial planning process. financial planners before making a comprehensive plan for their clients ask them about their income and expenditure. This cash flow analysis alone can be a wake-up call as many people are aware of their income but few track their expenditures. This results in people having a wrong impression of having more money than there really is, resulting in some missed opportunities for savings and investing. A financial planner tries to keep a track of their client’s savings so that financial goals are met by creating financial resources by investing in savings.Insurance Planning

- Life Insurance cover
- Medical Insurance cover
- Disability Insurance cover
- General insurance cover
Investment Planning

Retirement Planning

Tax planning

Estate planning
