Financial Services certifications – CWM (an NISM accredited certification), CTEP and CFOS

As you know the Financial Services market have been volatile in the past few years and  the investment options for investors have been changing with the changing economic conditions. Customers are looking at multiple asset classes and not just Mutual Funds and Insurance. To be able to provide clients with informed options one needs to continuously invest in upgrading ones  KNOWLEDGE. 

Keeping in mind the changing market we offer 3 international certification programs which are very relevant for different segments of the wealth management business in the country :


Chartered Wealth Manager – CWM is a comprehensive wealth management certification covering all asset classes. It is far more relevant than just a CFP. A comparison is also attached. CWM Certification is approved by NISM as an accredited certificate for the Financial Advisory Services in India under the SEBI (Investment Advisers) Regulations.*  (In comparison to NISM certification CWM-Experience pathway has only 1 exam and no exam every 3 years)

  • NISM accredited certification
  • Accredited from American Academy of Financial Management (AAFM) USA
  • The most comprehensive wealth management certification in the country
  • CWM curriculum covers all asset classes, unlike CFP, like investments, insurance, capital markets, PMS, real estate and other soft side issues like behavioural finance, relationship management
  • For RMs with 3yrs+ experience only Level 2 examination required
  • Training mode: Self Learning, Webinar, Classroom
  • If you are a company then you should join AAFM as a corporate member (Free) to get special pricing benefits to your employees
  • Use CWM after your name on your Business Card and on your promotional materials
  • Target group – Relationship Managers in Wealth Management/Private Banking, Product Heads, Business Heads, Senior Executives from Wealth Management, Private Banking, Family Office, Advisory firms, Banks, NBFCs, Broking houses, Mutual Funds, Insurance, Distribution houses, Independent Advisors who manage HNI clients


Chartered Estate and Trust Planner – CTEP is the only Trust and estate planning certification in India which captures all the elements for making a Will, Trust, Succession etc

  • Accredited from American Academy of Financial Management (AAFM) USA
  • Content fully customised for Indian market
  • The only course available in India for Trust and Estate planning
  • The curriculum for CTEP encompasses trust and estate planning concerns of resident and non-resident clients and families. This core group of topics focuses on the major functional issues of high net-worth consulting, ranging from tax, finance to law.
  • CTEP curriculum includes Estate Planning, Taxation, Legalities, Trust planning etc
  • Use CTEP after your name on your Business Card and on your promotional materials
  • Training mode: self learning, Webinar or 3 day boot camp
  • Special launch pricing
  • Target group – Trust Officers , Financial Planners, Family Office Managers, Private Bankers, Wealth Managers, Retail Branch Managers,  Relationship Managers


Chartered Family Office SpecialistCFOs is a comprehensive Family office certification in the country. Family Office is a growing segment and we are one of the only companies offering this US certification in India

  • CFOS is an accredited program from the family Office Institute (FOI) USA.
  • Enhance knowledge base to successfully manage and operate a family office.
  • The CFOS designation will distinguish its members as it represents the premier standard for family offices.
  • Achieving CFOS designation requires one to demonstrate competence in successfully managing a family office.
  • This premier designation conveys a message to your clients and other advisors regarding both your technical skills and your due diligence obligations.
  • Training mode: Blended Elearning, Videos, Webinar
  • Special launch pricing
  • Use CFOS after your name on your Business Card and on your promotional materials
  • Target group – Family office personnel, Wealth managers, Financial planners, Estate planners, Chartered Accountants, CFPs, Investment Advisors, IFA’s and other financial professionals

If you are interested in any of the above certifications then do give Santosh a call at 9004616039 or email him at and he will assist you in the registration process



financial coursesFinancial Courses are offered in India at various levels. There are courses after intermediate, after graduation and after masters. Some of the courses are also offered as skill enhancement programs for working executives. These financial courses can be grouped in different ways there are statutory courses that are offered by bodies set up by acts of parliament, courses offered by various universities in India, courses offered by foreign boards by setting up representative boards in India.

The financial courses offered in India relate to:

1.   Personal Finance

2.   Corporate Finance

3.   International Finance

4.   Financial Management

5.   Specialized Courses

Through these courses, students learn how finances, investments and the economy affect a company and an Individual

We have enumerated the all of the above type of courses and provided links to the website of the institutes that offer the best programs in the above domains of finance.

persinal financePersonal Finance

Personal Finance means finance related to individuals. In personal finance courses the participants are taught How to manage finances of an Individual? The participants learn to create personal financial statements, analyze finances of individual, advice individuals on managing their finances in order to meet their financial goals. In a personal finance course, students learn how to counsel individuals on money-saving techniques and budgeting. Personal finance topics covered include auto loans, mortgage loans and budgets. Taxation, including saving money to pay taxes and getting the most out of deductions, is also covered.

Personal Finance Courses can be taken after intermediate or graduation but it is advisable to pursue these programs after graduation. As the level of intellectual ability and pre-requisite knowledge required to pursue these programs is such that a graduate or students nearing completion of their graduation are better placed in doing so.

Courses in Personal Finance:

1. Chartered Wealth Manager® (CWM®)

2. Certified Financial Planner® (CFP®)

corporate financeCorporate Finance

Corporate Finance deals with managing and analyzing finances of a Company or a Business. In corporate finance the sources and uses of funds is dealt for. In a corporate finance course the students learn maximize the wealth of the shareholders of a company by finding out best source of capital and also learn how best to deploy this capital for long term profit maximization for a company. Students learn about possible financial problems, such as the cost of capital and the risk of investing in a certain product or company.

Corporate Finance Courses help the students develop skills in Financial decision making for a Company including capital budgeting/corporate investment, capital structure, corporate sources of funding, dividend policy and corporate contingent claims, international finance, and financial risk management. Some areas of corporate finance that are also very important are leasing, mergers and acquisitions, working capital management, standard theories of risk and return and valuation of assets.

Corporate Finance Courses can be classified into:

A.   Banking Courses

B.   Analytical Courses

C.   Financial Management Courses

D.   Financial Modelling

Some of the Prominent Corporate Finance Courses are:


1.     JAIIB & CAIIB Programs from IIBF


















1.   Chartered Accountancy Program (CA)

2.   Cost Accountancy Program (ICWA)

3.   Actuaries by Actuarial Society of India

Specialized Courses in Finance:

There are specialized courses covering a particular niche of finance.

Mergers and Acquisitions


Technical Analysis


Best financeChartered Wealth Manager® (CWM®): The CWM® Program is offered by the American Academy of Financial Management USA. There are over 50,000 CWM Certificants all over the globe occupying top positions in the Wealth Management and Private Banking sphere. The program is offered in India byAmerican Academy of Financial Management India set up by AAFM USA.

The program covers both Indian and Global content. It prepares the participants in the art and science of managing wealth of Ultra Affluent Clients. The participants build skills in managing local investments as well as global cross border investments.

The program curriculum is divided into 2 levels; level 1 is the foundation level and level 2 is the advanced level.

The program is offered through Authorized Education Providers of AAFM India which include organizations like ICICI Direct, Indiacan a Pearson and Educomp Company etc.

CWM® is the highest global designation in wealth management globally and opens doors for International Jobs in top Banks and Financial Institutions.

The program can be pursued after intermediate but the participants need to have passed graduation to be awarded the CWM® designation.

The program can be completed in 3-6 months.

Certified Financial Planner CM (CFPCM): The CFP program is offered by Financial Planning Standards Board based in USA. The program enables the participants to learn Financial Planning for individuals. The program is divided into six modules and a participant needs to clear five examinations to qualify for the program.

CFP program is the highest global designation in Financial Planning which equips participants to advise individuals in planning for their financial goals.

Students need to be intermediate with 3 years of work experience to be awarded the CFPCM Designation.

cwm vs cfpDifference between Financial Planning and Wealth Management

Wealth Management is an advanced area of Financial Planning incorporating Financial Engineering, philanthropy, tax issues and portfolio management. The Professional Sequence in Wealth Management provides financial planners with the training to help wealthy investors navigate their particular challenges and opportunities.

Difference between CWM® CFPCM and CFA

Chartered Accountancy (CA): It is one of the most widely sought after finance professions in India. A practicing CA is guided by the rules of Institute of Chartered Accountants of India ICAI and has got the legal right to file for Income Tax Returns ITRs of clients and doing audit of companies. CAs earn hefty fees for the services rendered. CA is a sure shot way of getting a job or starting your personal practice because the economic scenario implies that there will be new businesses opening every time and it is compulsory under government regulations for a company to get audited by a CA.

This course is a optimum blend of practical and theoretical education. It consists of three levels of examinations and three years of practical training under a practicing Chartered Accountant. The Chartered Accountancy course is considered to be one of the rigorous professional courses in India. Preparation of CA happens in multiple phases and if pursued seriously it can be cleared in around 4 years.

The first level of examination for CA: The CPT or Common Proficiency Test is the first level of Chartered Accountancy examinations. A person can register for CPT after completing Grade 10 and take the exam after completing High School (Grade 12).

The second level of examination for CA: IPCC or Integrated Professional Competence Course is the second level of Chartered Accountancy examinations. A person can take the IPCC Examination after passing CPT and nine months of study. IPCC has two groups of seven subjects. Group – I consists of four subjects and Group – II of three subjects. A passing grade is awarded if the candidate obtains 40% marks in each subject and 50% in the aggregate in each group.

The third and final level of examination for CA: CA Final Examination is the last and final level of Chartered Accountancy Examinations. Any person who has passed both the groups of IPCC, during the last six months of articleship can take the Final Examination. This exam consists of two groups of four subjects each. A passing grade is awarded if the candidate obtains 40% marks in each subject and 50% in the aggregate in each group.

Actuaries: Typically an Actuary uses financial and statistical techniques to solve real business problems, particularly that involving risk management. But what sets them apart from their counterparts in other professions is the natural mathematical, economic and statistical aptitude, awareness and the ability to apply these to situations in the real financial world.

The program is offered by Institute of Actuaries formerly known as Actuarial Society of India. The program has a total of 15 papers after the completion of which the person can get jobs in insurance sectors namely premium calculation, policy formulation or insurance marketing with an average package of around INR 50 lakhs. Actuaries have an added advantage that the person can do a job along with clearing the papers and each successive paper adds to the existing pay package the person is getting. There are around 200 fellow actuaries in India.

The Chartered Financial Analyst (CFA): Program is a professional credential offered by the CFA Institute (formerly AIMR) to investment and financial professionals. A candidate who successfully completes the program and meets other professional requirements is awarded a “CFA charter” and becomes a “CFA charter holder.”

The program prepares the participants in becoming proficient in Financial Analysis, Equity Research etc. The CFA charter is a qualification for finance and investment professionals, particularly in the fields of investment management and financial analysis of stocks, bonds and their derivative assets. The program focuses on portfolio management and financial analysis, and provides a generalist knowledge of other areas of finance. Additionally, the CFA charter has experienced increasing relevance and demand within corporate finance.

The basic requirements for participation in the CFA Program include holding or being in the final year of a university degree (or equivalent as assessed by CFA Institute), or having four years of qualified, professional work experience in an investment decision-making process. To obtain the charter, however, a candidate must have completed a university degree (or equivalent) and four years of qualified, professional work experience, in addition to passing the three exams that test the academic portion of the CFA program, as discussed below.

Candidates take one exam per year over three years (assuming a pass on the first attempt). Fees as of December 2009 for each exam range from $710 to $955, depending on the date on which the candidate registers to take the exam, plus an additional $400 to $480 for program enrolment for new members.


20 lakh new banking jobs, but is there sufficient talent?

20 lakh new banking jobs will be created in the next 5-10 years, but are banks adequately poised to handle this staffing challenge?

Nikhil Inamdar  |  Mumbai  February 11, 2014 Last Updated at 16:53 IST

bank jobs In an environment where headlines have focused on jobless growth and apocalyptic scenarios of millions returning to low wage, low productivity farm jobs, a new report by HR services major Randstad India provides much to cheer about.

With licenses for new banks to be issued soon and penetration of financial services expected to expand to rural areas in the years to come, the sector could create as many 7-10 lakh new jobs in the next 5-10 years according to Randstad India. The Manipal Academy of Banking pegs this number at a much higher 20 lakh positions.

A bulk of this hiring will happen in the public sector banking space as 50% of the PSB working force in the mid and lower level bracket is set to retire in this period. McKinsey & Company estimates 60 to 90 percent of deputy general managers/general managers at PSU banks too are set to retire as early as 2016-17 and this number could jump to 93 to 100 percent by 2020, creating staffing challenges not just at the low & mid levels, but also in management and leadership positions.

The report should give prospective job seekers much reason to celebrate. But indications are that banks are simply not adequately poised to handle this massive staffing challenge that confronts them. An Op-Ed (Read here) in this newspaper last month highlighted some of the problem areas particularly for the PSBs that are expected to absorb a majority of this new workforce.
Part of the current predicament is because of legacy issues – caused by the freeze on recruiting probationary officers through the 1990s as well as the fact that growth in employee numbers did not keep up with the growth balance sheet. Manpower increase has been a meager 0.5 per cent, compared with balance sheet growth of 22 per cent according to BCG. But where banks have begun recruitment, the appointment process is often mired in bureaucracy – tenders for appointment of even HR consultants are unnecessarily prescriptive, with a larger focus on procedures rather than the task of filling vacancies.
Shortages have also meant, banks are taking shortcuts, fast tracking promotions and imparting bare training, with fresh recruits joining the ranks with hardly a week of preparation. Then there is also a mindset issue. At a time when lateral recruitment is required to bring in specific skill sets for specific roles, it has accounted for barely 2 percent of employments in PSU banks as opposed to 53 percent in the private sector.
“Going forward getting manpower, given the demographic dividend we have, is not going to be so as much of a challenge  as re-skilling the workforce. Unlike an L&T which is having trouble finding engineers to work on site, finding talent for entry level banking jobs will be fairly easy. The real challenge today is knowledge updation, training and re-skilling of the existing staff. They haven’t been able to keep pace with the rapid changes in technology, and that could pose problems” says Diwakar Gupta, Ex-MD at SBI.
Reorientation of skills will also be critical says Ashwin Parekh – Partner & National Leader, Financial Services at E&Y. “It will arise not only out of technological changes and the sheer number of new locations that need to be penetrated – 8640 new areas according to the RBI, but also because documentation, data gathering requirements have become more stringent with Basel 3 pushing banks towards evidence based rather than judgment based lending.”
With a bulk of the hiring expected to happen in smaller towns as banks expand networks to meet financial inclusion goals, banks will also have to put in a huge effort in induction along with recruitment adds Parekh. “They will no longer be able to hire post-graduates, and expect them to learn on the job. And currently neither our private nor public sector banks have robust induction procedures, barring exceptions like HDFC Banks and to an extent ICICI and Axis”
As new licensees set up operations, increased competition and higher attrition as a result will also pose a significant challenge to PSBs. There have been calls in certain sections to raise the retirement age. But “unlearning can prove more expensive than learning” says Parekh as upping the age of retirement would only amount to kicking the can down the road.
The only option for banks, is to step up to the challenge with a strategic plan and the urgency it merits.
For More Banking Related courses visit

Postal banks globally effective as payment banks: Nachiket Mor

Nichiket mor
PTI Jan 30, 2014, 08.34PM IST
MUMBAI: Nachiket Mor, a member of the central board of the Reserve Bank of India, today supported the role of postal banks in promoting the availability of financial services.

“I don’t want to speak specifically about India Post (which has applied for a commercial banking licence) itself. What I am saying is that worldwide, they (postal banks) have been very effective as payment banks,” said Mor, who recently submitted a report on financial inclusion to the RBI.

Mor, a former executive director of ICICI Bank, is also a member of an external panel that is scrutinising the 25 banking aspirant applications.

The panel headed by former RBI governor Bimal Jalan will meet again on February 10. The committee had a mandate to submit its report before January end, by when Governor Raghuram Rajan had expected to issue some new bank licences.

Mor was answering a question from the media on whether he supports the application of India Post for a commercial banking licence. He spoke on the sidelines of a banking inclusion summit organised by a business daily.

Stating that financial inclusion is needed because the country has a small banking system, he said deepening financial inclusion requires either new banks, which is long, steady and slow process, or expanding the reach of existing banks. One way to do this is to empower non-banking lenders, who have an important role to play in inclusion, he said.

The Finance Ministry is not very keen on letting India Post convert itself into a bank, citing practical difficulties, even though more than 90 per cent of its 1.55 lakh post offices are located in villages.

Postal savings as of last March stood at Rs 6.05 trillion, which is half the total deposits of the nation’s largest bank, State Bank of India.

Last week, Minister for Communications & Information Technology Kapil Sibal said his ministry would ensure that India Post gets a banking licence.



New technologies to transform banking business in 2014: Infosys

PTI Jan 27, 2014, 03.00PM IST

NEW DELHI: As Indian firms turn towards disruptive technologies to optimise operations, banks too are joining the social media and mobility bandwagon to offer personalised services to customers this year, IT services major Infosys said.

According to Infosys’s banking trends for 2014, banks will move towards more simplification of their go-to-customer models. “Simplify, that’s the mantra for banks in 2014. To do so they will refresh their business models and embrace technologies from mobility and social to cloud and big data,” Infosys AVP and Lead Product Manager Finacle Product Strategy Rajashekhara V Maiya told.

This year banks are most likely to pick up “the pace in their walk-crawl-run to new operational models”, he added. “The reason for this urgency is to find ways to improve profitability and return on equity, meet customer expectations of personalisation and better service and to digitise to stay alive,” Maiya said.

Infosys expects to see reconfigured business models and renewed focus on innovation and customer experience, and emerging technologies shall play a vital role, he added. In 2014, mobility will continue to disrupt the status quo in banking, he said adding that mobility changes the game. “Forget statistics proclaiming smartphone shipments, mobile subscriptions and the rising popularity of mobile banking. These are given. Mobile/online shopping shows it has the power to play upon the psyche of a changing society,” he said.

Research says banks can improve profits by up to 20 per cent by reducing complexity. Customers, regulators and bankers are demanding simplification in banking, he said.

“Banking couture takes off, Google Glass is set to arrive in 2014. What next? Wearable Windows? New tech, like wearable, will disrupt consumer banking and engagement. Some day not too far away, banking may be as simple as ordering (Google) Glass to tell you your bank balance,” Maiya said.

Another trend to watch out this year is banking through app stores. “API platforms will usher in an era of the custom-built apps. Credit Agricole has created such a platform for third party developers to create specific apps requested by the bank’s customers through the CA App Store,” Maiya said. Examples include an app to analyse expenses and another that incorporates gamification. Expect more and more banks and solution vendors to join the party, he added.–link–New-Technologies-To-Transform-Banking-Business-In-2014-Infosys?eid=3765946


Banning FDI in supermarkets illogical when large domestic conglomerates already invest in them

ET Bureau Feb 4, 2014, 05.24AM ISTfdi

The new, BJP-led government of Rajasthan has banned foreign direct investment (FDI) in supermarkets from the state, the second state, after Delhi, to reverse policy in this regard.

This belies the BJP claim to be a party that is pro-business and in favour of economic reforms.

Like with Arvind Kejriwal and the Aam Aadmi Party (AAP) he leads, protecting incumbent big retail chains from competition in the name of protecting small traders is the net result.

Big retail giants can leverage economies of scale and out-compete smaller rivals. Banning FDI in supermarkets makes little sense, when large domestic conglomerates already invest in them.

The reversal of policy in Delhi and Rajasthan is also dangerous for another reason. It unsettles prospective investors, who start asking themselves whether to enter a market from where they might be booted out at the whim of a new political dispensation. Allowing FDI in retail was a decision taken by a government at the Centre, after being debated thoroughly in Parliament.

The policy left the final approvals to state governments, which have powers over things like land and water. But if states start using this power to reverse the permission given by its predecessor government, investors would get the jitters and flee. This is reckless behaviour. Surely, this does not add to the probusiness, pro-reform credentials of the BJP.

The governments of Delhi and Rajasthan should roll back the bans of FDI in retail. As new funds and management practices enter this sector, we could see a revolution in logistics, storage and delivery.

Ultimately, the benefits of those will go to consumers and farmers. Consumers will get the benefits of lower prices and farmers could see higher margins, as middlemen are eliminated by compact supply chains.

Conclusion: The reversal of policy in Delhi and Rajasthan is also dangerous for another reason as it unsettles prospective investors, who start asking themselves whether to enter a market from where they might be booted out at the whim of a new political dispensation.