Every aspect of life requires planning whether it is for short term or long term. Financial planning for future is one of the most important things of life as every individual earns money with an objective to fulfill one or many of one’s life goals. People use money for purposes as simple as funding their daily household expenses to buying exotic luxuries for a better life. Money can be saved, accumulated and grown to fund various financial goals of a person; such as education, marriage, house purchase, retirement and even passing on as legacy to the next generation. So money earned is either used to fund some of the immediate expenses or some goal in distant future. Financial Planning is the process of estimating the capital required and determining its competition. It is the process of framing financial policies in relation to procurement, investment and administration of funds of an individual. It includes investment planning, retirement planning, child education planning, tax and estate planning and many other finance related activities.
Before 90’s it was not so difficult to manage money because of high interest rates, government sponsored retirement schemes, strong joint family system and low cost of living but since the early 90’s the economic and the personal finance landscape have changed drastically as the Indian economy opened up and financial reforms were undertaken. Due to the these economic changes, market volatility, various investment options and lack of time to take brief knowledge of financial market mechanism increase the professionalism in the field of financial planning. Financial planner or investment advisor helps a person in providing direction and discipline in achieve the defined goals.
It is an advisors duty to identify and prioritize the objective of clients for the future after considering his resources, risk profile and current lifestyle. A financial planner or advisor specializes in the planning aspects of finance, in particular personal finance, as contrasted with a stock broker who is generally concerned with the investments, or with a life insurance intermediary who advises on risk products. Financial advisor develops sound financial strategies to help in meeting client’s needs now and into the future. From managing the impact of assets and liabilities on your cash flow, protecting what’s important with insurance while investing for specific goals like retirement or education, our comprehensive financial planning approach looks beyond the numbers to align with your financial needs and goals.
In order to ensure high ethical practices in the field of financial planning and to make financial planners more competent, NISM has launched NISM Series X-A: investment adviser (level 1) Certification Examination and NISM would also be launching the level 2 of the Investment Adviser Certification Examination. Prior to this SEBI has made it mandatory to clear above mentioned NISM examinations for all associated persons registered as an investment adviser and partners and representatives of investment advisers under SEBI (Investment Advisers) Regulations, 2013 and offering investment advisory services.
Before this examination NISM was conducting Certified Personal Financial Adviser (CPFA) certification for financial planners, developed in association with Financial Planning Corporation of India Ltd. (FPCIL), established by FPSB India. But this examination will be discontinued from 30 August 2013 and has been replaced with NISM Series X-A: investment adviser (level 1) Certification Examination. This certification aims to enhance the quality of financial planning, investment advisory and related services in the financial services industry.
Intelivisto offers extensive learning tools for online test preparation for NISM Series X-A: investment adviser (level 1) Certification Examination. Our X A NISM Exam product includes more than 1100 questions in form of chapter-wise and full length mock test as per the test criteria set for NISM test. After attempting our online mock test user can analyze his/her performance question by question and can find out their weak and strong topics and accordingly can plan their preparation for the examination.
Intelivisto offers CISI courses on various financial fields like Securities and Investment, Risk Management, Portfolio Construction, Wealth Management, etc. Intelivisto has developed state-of-the-art...