The National Institute of Securities Markets (NISM) has decided to discontinue Certified Personal Financial Advisor (CPFA) exam from September 2013. The exam was launched by NISM and Financial Planning Corporation India Pvt Ltd (FPCIL) in January 2011.
CPFA was launched for advisors, employees of organizations engaged in financial advisory services, employees of AMCs, banks, and wealth management companies. It was meant to be a ‘lighter’ version of the CFP, say experts.
NISM has requested all candidates, who have paid fee to appear for the exam before August 30.
“There was an overlap between CFPA and the newly launched Investment Adviser Examination. So we decided to discontinue CPFA,” confirms an official from NISM.
NISM has recently launched Investment Adviser Examination (Level 1) for those who register with SEBI as Investment Advisers.
