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PGDFP stands for Post Graduate Diploma in Financial Planning which is a one-year diploma course that targets to equip students with knowledge in areas of personal finance, investment, insurance, retirement as well as tax planning. Some of the topics that are included in the program are: Saving and banking, budgeting, financial statements, mutual funds, asset management, risk assessment, insurance products, retirement fund estimation, and taxes. The PGDFP course takes one year on average which is subdivided into 2 or 3 semesters with lectures in class, and practical training.
The tests that are recognized for the admission in Post Graduate Diploma in Financial Planning program are CAT, XAT, MAT, CMAT, ATMA and state level test. Most colleges also use performance of the candidate in the bachelor’s degree program as a consideration factor. Prior work experience in the field of finance may also be accepted as a consideration for admission. Further, some institutes have their own entrance test facilities for providing admission into this financial planning program. Applicants who have appeared for any of the national or state level tests are eligible to apply for the PGDFM course provided they have passed the examination.
| Feature | Details |
|---|---|
| Full Form | Post Graduate Diploma in Financial Planning |
| Duration | Typically 1-2 years |
| Course Level | Postgraduate Diploma |
| Eligibility | Bachelor's degree in any discipline |
| Top Colleges | International College of Financial Planning (ICFP), National Institute of Securities Markets (NISM), Bombay Stock Exchange Institute (BSE Institute), Indian Institute of Banking and Finance (IIBF) |
| Entrance Exam | Varies by institute, some conduct entrance exams, others based on merit |
1. University degree at post graduate level in any discipline from a recognized university with not less than fifty percent marks.
2. Member with Association / Institute approved by Financial Planning Standards Board India (FPSBI) as a certification body for CFP Education.
3. Institute wise common entrance test conducted by the concerned institute offering the course.
4. Applicants will ideally have at least 2 years work experience within the financial services sector but this is not a prerequisite.
5. Relevance of applicant, his/her ability and desire to undertake the course to be offered by the institute.
6. Final admission to 1-2 year diploma program by personal interview only.
| Subject Area | Important Topics |
|---|---|
| Financial Planning Process | Financial planning steps, client relationship management, needs analysis, goal setting |
| Investment Planning | Asset allocation, portfolio management, investment vehicles, risk management, tax planning |
| Insurance Planning | Life insurance, health insurance, general insurance, risk assessment, insurance products |
| Tax Planning | Income tax, indirect taxes, estate planning, tax-saving instruments |
| Retirement Planning | Retirement goals, pension planning, social security benefits, annuity products |
| Estate Planning | Wills, trusts, probate, succession planning, gift taxes |
| Financial Markets | Indian financial system, capital markets, money markets, derivatives |
| Economics | Microeconomics, macroeconomics, economic indicators, financial markets |
| Specialization | Job Roles | Average Salary (INR Lakhs per annum) |
|---|---|---|
| Financial Planning | Financial Planner, Wealth Manager, Investment Advisor | 5-10 LPA |
| Insurance Planning | Insurance Advisor, Risk Manager | 4-8 LPA |
| Tax Planning | Tax Consultant, Tax Advisor | 4-8 LPA |
| Retirement Planning | Retirement Planner, Pension Consultant | 4-7 LPA |
| Estate Planning | Estate Planner, Will Writer | 4-7 LPA |
