Ways to Become a Certified Financial Planner in South Africa
How do I get a CFP in South Africa?
Kindly apply via the FPI-Portal register to become a CERTIFIED FINANCIAL PLANNER® professional with the Financial Planning Institute of Southern Africa (FPI). For more information on becoming a FPI professional member. Contact FPI – Business Development via e-mail businessdevelopment@fpi.co.za or call +27 11 470 6000.
What Qualifications do I need to become a financial planner in South Africa?
To become a Certified Financial Planner, a financial advisor must:
- Obtain a BCom Honours or a postgraduate diploma in Financial Planning at one of the higher education institutions which have been approved
- Write and successfully complete a certification examination at a postgraduate level. This examination serves to test the individual’s practical knowledge on various fundamental aspects of financial planning as a whole
- Gain a minimum of three years’ experience in the field of financial planning
- Commit to the Financial Planning Institute’s Code of Ethics and Professional Responsibility with the understanding that violation of the code can result in disciplinary action
- Complete 35 hours of continued professional development every year
What License do I need to become a Financial planner in South Africa?
- All financial advisors in South Africa must be licensed by the Financial Services Conduct Authority (FSCA) as an authorized financial services provider.
- All financial industry activity in South Africa is overseen by the FSCA and all financial services providers (FSP) are governed by the independent institution.
- The FSCA has an online database which you can search to make sure your financial advisor is licensed, and you can do this using their FSP number.
Does a Financial Planner need indemnity Insurance in South Africa?
YES. It is mandatory in South Africa for financial advisors to have indemnity insurance. This protects them and you from unforeseen losses and claims resulting from negligence or poor judgment.
How many CFP are there in South Africa?
According to reports , there are more than 181 000 CFP professionals worldwide. According to David Kop, executive director: relevance at the FPI, there are about 4800 CFP professionals in South Africa, of which 3800 are practicing.
Are financial planners in demand in South Africa?
Yes. The financial advisor career is among the best business jobs and best-paying jobs, according to South Africa. News’ career rankings.
What is a financial advisor salary in South Africa?
The average financial advisor salary in South Africa is R 253 500 per year or R 130 per hour. Entry-level positions start at R 177 000 per year, while most experienced workers make up to R 3 600 000 per year.
