Difference Between Claritas and CFP

Getting the right job is always tricky, and sticking out is tougher. However, over the years, financial institutes and bodies have made this aspect a lot easier for professionals seeking the path-breaking job of their career, putting them on the right track.

So let us check out the CFP (Certified Financial Planner) CFP (Certified Financial Planner)CFP is a certification that helps people to plan their finances well. In the USA, the average age of the population is 36.8 years. Thus, the need to reach their retirement age with a good net worth is a priority. read more course and the  Claritas Investment Certificate of various studies offered.

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What is Claritas?

The Claritas® is a certified program offered by the CFA Institute (formerly known as the Association for Investment Management and Research or AIMR), excellent for professionals keen to dominate in the financial and the investment sector. The program helps to gain a clear perspective on the working strategies of the global investment industry. In addition, it allows a professional to develop the essential qualities of ethics and professionalism in the finance and investment roles.

What is CFP?

The CFP or Certified Financial Planner is a certificate course for financial planners specializing in strategic financial planning or advisory roles in the financial services industry. The certificate is conferred by the Certified Financial Planner Board of Standards (CFP Board) in the United States and by the affiliated body FPBS in India. The CFP is an impression of excellence, recognized and respected worldwide by financial professionals. The course is designed to meet the stringent standards of education, examination, experience, and ethics to ensure that the certified triumph employees trust and explore many opportunities awaiting them after completing the course.

Claritas vs CFP Infographics

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CLARITAS vs CFP – Comparative Table

Exam Requirements

Claritas: There is no education or experience requirement that a candidate needs to meet to opt for the Claritas® exam. However, command of the English language is essential to appear for the exam successfully.

  • Industry Overview Ethics & Regulation Inputs & Tools Investment Instruments Industry Structure Serving Client Needs Industry Controls

 

  • General Principles of Financial Planning Education Planning Estate Planning Investment Planning Tax Planning Retirement Savings & Income Planning Professional Conduct & Regulation Risk Management & Insurance Planning

  • Investment Analyst Investment Consultant Portfolio Manager Wealth Manager

  • Estate Planner Financial Manager Retirement Planner Risk Manager

  • Mar 08 – Mar 15 Jul 12 – Jul 19 Nov 01 – Nov 08

CFP: The candidates must fulfill the 4E criteria to be certified as a CFP:

  • EducationExaminationEthicsExperience

The minimum eligibility criterion for the CFP course is a graduate or bachelor’s degree or higher degree with a working knowledge of the financial planningFinancial PlanningFinancial planning is a structured approach to understanding your current and future financial goals and then taking the necessary measures to accomplish them. Because this does not begin and end in a specific time frame, it is referred to as an ongoing process.read more practices prevalent in the industry.

Why Pursue Claritas?

The Claritas® program is ideal for those professionals who want to test the waters before jumping the gun to become investment professionals specializing in certain areas. This program is a foundation-level course and enables an understanding of the fundamentals of the investment industry. Thus for an individual dilly-dallying about his choice of course between CFA and Claritas®, it is advisable to opt for Claritas® as the foundation course, while to opt for an in-depth study on the investment services, CFA is advisable. The Claritas® course can be pursued by all the professionals in the investment industry that play a role in enabling the decision-making process in a firm.

The Claritas® program is an excellent route for those who desire to switch their career domain to finance. The program ensures entry-level positions in the financial industry for candidates with this certificate. In addition, professionals from the financial services industry, human resources, information technology, operations, sales and marketing, and legal and administrative services are accessible for this examination.

Why Pursue CFP?

CFP is the highest level of certification for a professional aiming to carve a niche in the financial industry and is appreciated worldwide by professionals and consumers. The Wall Street Journal has been awarded the Gold StandardGold StandardThe gold standard was a monetary term used when gold exchange was used instead of paper currency.read more award certificate, which speaks volumes of its credibility. In addition, the CFP candidates are remunerated with attractive salaries,  investments, insurance, tax, retirement, and real estateReal EstateAt its most basic principle, Real Estate can be defined as properties that comprise land and its tangible attachments. The land includes the actual surface of the earth and any permanent natural objects such as water, dirt, or rock and any minerals or particulars under the surface. read more.

Conclusion

These credentials have designed a new curriculum with the updated practices and created certificate courses to ensure continuous development of the existing pool of financial professionals and attract freshers to the industry to acquire new perspectives and talent.

Shortly, these financial institutionsFinancial InstitutionsFinancial institutions refer to those organizations which provide business services and products related to financial or monetary transactions to their clients. Some of these are banks, NBFCs, investment companies, brokerage firms, insurance companies and trust corporations. read more have infused a new life into the sector and the professionals continuously strive towards betterment in their skills, knowledge, and salary. Therefore, aspirants can surely take advantage of the benefits they offer, but choose them wisely!

This article has been a guide to Claritas vs. CFP. Here, we compare the job options, fees, pass percentage, and focus areas for Claritas and CFP certification exams. You may also look at the following articles for more information: –

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