067 Requirements to enrol into a CFP class (Update)

I wrote on the academic requirements to enroll into a CFP class before this. I mentioned the students must have either a Degree or a Diploma with 5 years experience in unit trust industry.

Now, FPAM has given degree holders a better offer! Degree holders can be exempted from CFP Module 1 exam if he / she attends a 16 hours Tax Planning class. This means cost and time savings.

About CFP modules

CFP modules has been compressed from 6 modules into 4 modules. Estate Planning and Retirement Planning has been absorbed into the new Module 2 and Module 3. Tax Planning were pull out to become a standalone workshop with no exam. The new modules' layout are:-

Module 1: Foundation in Financial Planning and Tax Planning

Module 2: Insurance Planning and Estate Planning

Module 3: Investment Planning and Retirement Planning

Module 4: Financial Plan Construction and Professional Responsibilities

CFP students must complete and pass Module 1 before progressing to other modules. After passing Module 1, students may opt to take Modules 2 and Module 3 separately or at one go. The choice is mostly depending on class availability and student's time. As most students have full time job and since classes are held on weekends, it is vital for students to allocate time to attend class and revision. Module 4 can only be taken after passing 3 previous modules.

Normally, we have class for each module every half a year. So, if a students follow this progress, it takes 2 years to complete the full CFP. If a student take Module 2 and Module 3 in one attempt, he may complete the course in 1.5 years.

What does it mean to be exempted from Module 1?

1) Save Course Fee

Each Module has their course fee. Skipping Module 1 means saving on fee for 1 module.

2) Save Time

Skipping 1 module means a student can complete the full course in 1.5 years.

3) Earlier practice

Completing the course earlier means it makes possible for the students to go into practice.

Where to take class?

This is tricky in JB. It seems like we don't have many providers. We used to have one. So, we requested FPAM Melaka Chapter to specially conduct the course. Now, the person in charge set up a proper company to be our provider. Now it is the sole provider in JB, it seems.

So, do look for us if you are interested to take up the course.